SMEs decry crippling business environment

The Association of Micro Entrepreneurs of Nigeria (AMEN) has decried increasing frustration faced by small scale manufacturers in procuring raw materials.
AMEN President, Saviour Iche, warned that more Nigerians would lose their jobs if the government fails to take urgent steps to improve the business environment and save micro industries from extinction.
He said Nigeria’s economy could be revived if Abuja devises measures to encourage manufacturing, especially Micro, Small and Medium Enterprises (MSMEs), the economic drivers in any nation.
“If the current government truly wishes to revive the economy of the nation, it must encourage local manufacturers because they are the hope of the nation in terms of employment of labour,” Iche stressed.
“A lot of businesses have shut down while many others have been forced to cut down their staff strength. We are calling on the government to do something urgently to save micro industries in the country from extinction.”
He urged the government to “make raw materials duty free to boost local manufacturing” noting that “most local manufacturers cannot access bank loans because banks collect hidden interests.”
Iche applauded the government for establishing the Bank of Industry (BOI) and microfinance banks but counselled effective monitoring to ensure small scale manufacturers have access to loans.