The President Muhammadu Buhari-led administration’s efforts to diversify the nation’s economy, have led to a significant boost and patronage of made-in-Nigeria products as well as Small and Medium Enterprises (SMEs), an entrepreneur, Mr. Nnanna Ibemgbo has said.
President Buhari has consistently maintained that a strong manufacturing sector and SMEs will create more jobs and wealth for the employed in the country adding that it will usher in a sustainable economic prosperity as the nation will produce all consumables and generate more foreign exchange by exporting surplus.
Speaking during a public lecture organised in Abuja, Ibemgbo lauded President Buhari’s efforts at minimizing the burden of economic hardship and unemployment in the country.
He maintained that the President’s deliberate effort at strengthening SMEDAN has provided impetus and great encouragement for the teeming population as well as young and aspiring entrepreneurs.
He stated that industrialists who are well established in the production sector, have a cause to smile at the sprawling opportunities President Buhari’s economic policies have opened up for the growth of small scale industries in the country.
“The economic recovery process of the President Muhammadu Buhari led government is already on course and fast gaining momentum. It would only require the cooperative spirit, adequate and corresponding right business attitude on the part of the people to fast track its drive to a very quick reality,” he said.
He described the strengthening and empowerment of the Bank of Industries (BOI) as a landmark step in the right direction towards achieving economic revamp.
He also lauded the present administration efforts in providing an enabling environment for regulatory bodies and institutions in the country to engage more with the SMEs – thereby affording more and greater collaboration with development partners in the production sector.
He added that the President’s wisdom in increasing the budgetary allocation to such agencies like SMEDAN and others charged with improving the nation’s small business sector is not just appreciable and laudable, but also commendable.