Experts tasks FG on tackling challenges facing SMEs

By Abubakar Yunusa 

Financial experts in the economic sector have charged the Nigeria government to address the challenges facing the Small and Mdium Enterprises (SMEs) in the country, as most countries of the world depends on them business for their economic growth.

They made this poiky at the one year anniversary of Soboms Nigeria limited and the unveiling of the book “Plucking your low hanging fruits written by Nicholas Eke which,in Abuja yesterday.

Chairman, Saboms Nigeria Limited, Boma Vincent Benebo explained that we do not have any reason to failed as a country but what has been happening is that we are not been able to look into our potential to enhance or take advantage of what we have .

He said ,“We should sit together and talk how we can revitalize our economy that has been down.

“The SME in this country are lost opportunities, we have a lot of young men who are willing to be enterprising, contribute to gross domestic product of this country. But we are missing it along the line by not putting relevant infrastructure that would enhance SME development.

Highlighting the leakages, he said , linkage to market is another thing we have to work on . There are skills development which is training is another area we have to work on and if we are not doing much more of this, we cannot thrive.

According to him, if finance because even those who are ready to lend money they insist they must have guarantee, telling to deposited money banks for this package. Money should be available for both start up and expanding growing of business.

Power account over 45percent cost of production and if you have that kind of cost during the production, definitely those industry at local level cannot compete locally and internationally.

He noted food importation is another leakage, noting that we don’t have the need to import some of the food items that we import today, adding that we have enough capacity to be able to produce food for ourselves. 

Also speaking at the event, the author of the book plucking your low hanging fruits Nicholas Eke said “the economies of the world are not smiling, we are not as individuals in control of policies and certain circumstances but also not insulated from their effects

On his part, The representative of DG Nysc Sam Peeple said “my advice to the country is that, going on to ask if you are done with National Youths Service, what next ?

He said we are taking care of National Youths Service Corp members saying that, we are already engaging them in skills acquisition and entrepreneurship.