Wednesday, 12 October 2016

Financing SMEs, key to economic recovery – FG

In bid to fast-track the nation’s recovery from economic recession,
the Minister for Industry, Trade and Investment, Dr Okechuckwu
Enalamah, said the federal government will boost Small and
Medium Enterprises (SMEs) for increased production and wealth

Speaking at the second edition of the SME Conference tagged:
“Financing non-oil Export Businesses and Franchises,” held at the
Sheraton Hotel and Towers, Abuja, the minister said that the
conference came “at a time when the government is making frantic
efforts to increase economic activities by creating enabling
environment for the SME to thrive.”

Enalamah said that his ministry had initiated strategies to
empower the SME sector for productivity and wealth creation.
He listed the strategies to include creating enabling environment
for SMEs to thrive, attracting domestic and foreign investors,
supporting large, small and medium scale enterprises.

In his keynote address, the Deputy Chief of Mission, US Embassy,
David J. Young, said: Considering the long economic ties between
Nigeria and US, the US government has assisted the nation in
monetary terms to fasten its recovery from the prevailing
economic challenges.”

He said that the US economic experts were on the ground to rub
minds with Nigerian entrepreneurs on how to increase production
and efficiency.

Earlier, the National President of the Nigerian-American Chamber
of Commerce, Chief Olabintan Famutimi, blamed the recent
economic difficulties on the inability of successive governments to
encourage economic diversification.

He lauded the government for injecting N600bn into the economy
for capital/infrastructure projects, adding that such gesture would
create activity in the private sector and create job .

Culled-daily trust

The Minister of Trade, Industry and Investments, Mr Okechukwu


  1. Good movement by Okechukwu. Seriously we need economic diversification in Nigeria. We need environment where everyone succeed with his/her vision/dream in area of investment and establishment

    1. We don't need theory anymore. It's about time we started seeing the implementation.