NASME Highlights Key Areas For Stability In Productive Sector

The chairman of the National Association of Small and Medium Enterprises (NASME) in Oyo State, Mr. John Karunwi, has expressed concerns about the challenging year faced by the production sector in Nigeria in 2023.even as he highlighted key areas for stability in the productive sector in the current year.

Highlighting factors that must be addressed to have a booming productive sector, he listed them to include;the cashless policy, inflation, subsidy removal, and forex challenges.

NASME called for price stability, inflation control, and reliable power supply, saying the aforementioned were crucial to the survival and growth of MSMEs in Nigeria while expressing confidence in the production  sector in 2024 with enhanced government support.

Karunwi emphasised the need for enhanced palliatives for micro, small, and medium enterprises (MSMEs) in 2024, calling on the federal government to improve support measures, while acknowledging the government’s initiatives, such as the promise of N50,000 to MSMEs.

He urged timely disbursement and inclusion of organisations like NASME, NASSI, Chambers of Commerce and Industry, and the manufacturing sector in the selection and distribution processes.

The NASME chairman highlighted challenges faced by MSMEs, including taxation, and called for relief measures, especially for nano, micro, and small enterprises. He advocated for the involvement of Business Development Service Providers (BDSP) trained by SMEDAN to mentor and coach MSMEs, addressing challenges beyond financial aspects.