Akpan Umoh, Uyo
The President of the Nigerian Association of Small and Medium Scale Enterprises (NASME), Dr Abdulrashid Yerima has said that the informal sector remains key to unlocking growth and development in the nation.
He disclosed this during the 25th-anniversary lecture and award ceremony of NESMA, weekend, in Uyo, Akwa Ibom State.
Yerima said that Small and Medium Enterprises (SMEs) which are the bedrock of all nations should be treated with priority to enhance socioeconomic prosperity in the country.
The Chairman of the Governing Council of NASME noted that the country can witness a transformative economy if challenges like electricity, access to finance, high import duty, foreign exchange, and high-interest rates, among others, are addressed.
“Our successes have been that our members are in every nook and cranny of Nigeria today that is, all the 36 states including Abuja.
“NASME has members strength of 5.1 million which are made up of NANO, Micro and, Small and Medium Enterprises. Our challenges are in areas of power, access to finance, and also improving the quality of products of our members.
“We are happy with the federal government because of several interventions but we are looking forward to more grants and interventions to SMEs in other to access and dominate the African market.
“Today, we have NASME in Benin Republic, Kenya and we are looking forward to having NASME in South Africa and the entire African continent.
He appealed to the federal government to improve economic policies that will boost small and medium enterprises and other businesses beyond the boundaries of the country.
Also speaking, the executive director of corperate services of the Bank of Industry, Mr Usen Effiong said that the NASME has been a critical partner in reaching small and medium enterprises.
He said that Nigerians in business and those going into business can access facilities from the bank of Industry without any collateral except a guarantor.
The south-south regional coordinator of, the Nigerian Export Promotion Council (NEPC), Mr Joe Ita said that the council has been in support of small and medium enterprises.
He noted that no world economy can survive without SMEs and that the council will continue its support through seminars and taking them to the global market.