(YAPJEN) A non- governmental, nation building, sustainable development goals, good governance, social justice and human right advocacy organisation has charged the Minister of finance and the governor of the Central Bank of Nigeria to support Smes across the economy across the six geopolitical zone by increase lending to small and medium enterprises as they are the true drivers of the nations economy.
Amb Timothy Nwachukwu, the Executive Director of the organization made in a broadcast to journalist opined that Small and Medium-scale Enterprises (SMEs), are now strategic and essential for accelerating economic growth in Nigeria. SMEs constitute about 90 per cent of all the businesses in Nigeria, creating more than 80 per cent of employment in the region.
”SMES are the engine of the nations economy and the growth of the economy will be dependent on the support which the federal government can make available to SMES” he stated.
He noted that SMEs have direct impact on the growth of any economy and contribute about 48 percent to Nigeria’s Gross Domestic Product (GDP), with employment generation.
He identified Small and medium-sized businesses as the real drivers of the national economies. Given the potential of SMEs to unlock Nigeria’s economic growth, one of the challenges, however, is access to credit.
He expressed hope that the Minister of finance and other relevant agencies under it’s purview will through robust policies accelerate the growth of Nigeria’s economy.
*© Amb Timothy Nwachukwu*
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