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Rep. Benjamin Kalu, the Deputy Speaker of the House of Representatives, highlighted that the South-Eastern region is facing a substantial economic downturn and notable disruptions in business operations due to the enforced “sit-at-home” directive by the proscribed Indigenous People of Biafra.
This concern was expressed
during a courtesy visit by the Nigerian Association of Small and Medium
Enterprises (NASME) executives in Abuja, headed by Abdulrashid Yerima, the
president of the group.
Mr. Kalu pointed out that the
South-East geopolitical zone suffers significant financial losses, ranging from
N10 billion to N13 billion, particularly in the transportation sector, with
each weekly “sit-at-home” day.
“When they sit at home in the
South-East, the South-West, South-South, North-West, North-East, and
North-Central are not sitting at home,’’ Mr Kalu said.
He also observed that the whole
country suffers when SMEs in the South-East suffer, saying, “Prices of goods
and services will suffer if there is insecurity in the land.”
Mr Kalu promised a legislative
commitment to address concerns raised earlier by the visitors.
“We must examine existing laws
that are not SMEs-friendly. That way, we can address some of the economic
challenges facing the country via SMEs,’’ he said.
Mr Kalu promised to work with
NASMEs for growth, adding that the 10th National Assembly would support its course
with positive legislation.
He said recent data indicated
that SMEs accounted for 48 per cent of national GDPs in emerging economies,
just as the World Bank had declared that SMEs played a pivotal role in job
creation.
Earlier, the NASME president
appealed to Mr Kalu to facilitate laws supporting the growth of SMEs in
Nigeria.
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