The president, Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Ruwase, has commended the federal government for good level of sensitivity to the plight of small and medium enterprises (SMEs) which is critical sector of the economy.
However, operators in the sector are still facing a number of issues which include, but not limited to poor access and high cost of credit, multiple taxation, infrastructure deficit and logistics problem.
The president stated this yesterday at the annual seminar of the SME Group, titled: “Positioning MSMEs for Development and Global Competitiveness.”
He said that the SMEs are one of the major drivers of the economy as they account for 64 per cent of employment. “These enterprises provide everyday products and services to both large corporate and final consumers,” he said.
Ruwase challenged other stakeholders to give support in every way possible to foster a better business environment in Nigeria.
“The chamber will remain committed to the cause of the private sector and particularly growth of the SMEs in Nigeria,” he said.
Also in his welcome address, the chairman, LCCI SMES Group, Mr. Abiodun Oladapo, said that the choice of the theme was borne out of the fact that if the entrepreneurs were given an enabling and conducive business environment, they can significantly transform Nigeria into a sustainable and enviable economy.
He noted that the entrepreneurship initiative was yielding the desired results such that a large number of private organisations had started to key into it.
Oladapo stated that MSMEs, through their entrepreneurial activities shall continue to play a major role in the economic growth and development of Nigeria.
He however, implored all stakeholders to participate fully in the discussions.
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