Obi explains his taking campaign to MSMEs, says they are economic backbone
By Jeph Ajobaju, Chief Copy Editor
Having roots in functional markets is essential for economic revival because micro, small, and medium sized enterprises (MSMEs) are the backbone of every major economy, Peter Obi has said in explaining why he campaigns in markets.
The presidential candidate of Labour Party (LP) clarified his market grassroots stumps underscore his emphasis on relocating Nigeria from consumption to production.
“My reason for going to markets is simple. I have always said we need to be able to go back from consumption to production, you can’t talk about doing that without roots to the functional markets,” he explained on Channels Television.
“I need to interact with traders and business people, and visit industrialists, agriculturalists, hearing what is their problem and be able to promise them of better times to come.
“The greatest employer of labour, the greatest productive area in any economy is micro, small and medium enterprises [MSMEs]. From China to India and Indonesia, they are all driven by the same economy.”
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Obi cited Indonesia where over 90 per cent of businesses are in this sector in terms of employment, via reporting by Vanguard.
“They are creating over 70 per cent of the employment, in China, over 60 per cent, a similar situation in Vietnam, these are countries that are doing very well today and very productive and export-geared.
“I believe you need to study and listen to this [MSME] sector because they will propel what we want to achieve. For me, the commitment to pull people out of poverty is immeasurable.
“What governments in Nigeria have not done in the past is to look at where they are coming and where they are standing.
“For example, in 2012, unemployment was about 10 to 12 per cent but today, it has risen to about 33 per cent.
“Our monetary poverty was 55 million. 33 per cent today is about 95 million, and, of course, multi-dimensional poverty has increased to 133 million. These are things that need to be addressed by a new government.
“We will ensure first that we deal with the issue of security of life and property by securing the country. That way, we will be able to let our farmers return to farming and increase agricultural production.”
