The Abuja Chamber of Commerce and Industry says Small and Medium Enterprises (SMEs) can play a crucial role in addressing the nation’s staggering economic growth.
The ACCI President, Emeka Obegolu, said this on Tuesday while reacting to President Bola Tinubu’s Independence Day Broadcast in Abuja.
While congratulating Nigerians, the business community in the Federal Capital Territory (FCT) and surrounding areas, Obegolu said that SMEs were key to driving economic development.
The ACCI president called on the government to implement initiatives that fostered friendly business policies, particularly for the SME sector in the country.
He urged all levels of government to adopt lasting measures to address the challenges faced by the business sector.
According to Obegolu, Nigeria’s economic growth will continue to stagger without a thriving SME sector,
He said that there was need for policymakers and stakeholders to prioritise the interests of the business community by providing essential infrastructure and creating an enabling environment for their businesses.
According to him, the current economic situation is not conducive for entrepreneurs, and immediate action is required to support their efforts.
On taxation, Obegolu said that it was imperative to revise tax policies to ensure that local producers are not overburdened.
“As a foremost Chamber of Commerce, we are deeply committed to the development of the SME sector, which we consider as the engine of our economy.
”We urge the government to take decisive steps that will enable our SMEs to compete on a level playing field with their counterparts in developed countries.
”I encourage the youth to embrace skill acquisition and entrepreneurship, which are important for personal empowerment and economic growth.
“ Also, Skill acquisition is key to becoming self-sufficient and creating job opportunities for others,” he said.
As the leader of the Organised Private Sector in the FCT and its environs, Obegolu, reaffirmed the ACCI’s commitment to advocating for policies that nurture and strengthen the business landscape in Nigeria.
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