Abuja Chamber wants appropriate incentives to strengthen SMEs

Posted by News Express | 23 September 2015 | 2,654 times

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The Abuja Chamber of Commerce and Industry Limited (ABUCCI) has urged the federal government and other stakeholders to provide support and appropriate incentives for the development of Small and Medium Enterprises (SMEs) in the country.

The President of ABUCCI, Mr. Tony Ejinkeonye, made the call on Tuesday in Abuja at the opening ceremony of the 2015 Abuja International Trade Fair.

NAN recalls that the 10th Abuja International Trade Fair commenced on Sept. 18, with the theme: “Entrepreneurship as a Panacea for Economic Growth.”

Ejinkonye said that the theme of this year's fair was chosen based on the reality that about 75 per cent of the organised private sector was made up of SMEs.

He said that the call became necessary given the importance of SMEs in the development of any economy.

The ABUCCI president also urged the government to reposition the manufacturing sector as it is the engine of growth of any economy.

Ejinkonye also appealed to the government to make the development of infrastructure a priority.

He said it was important for the current administration and other stakeholders to seriously address the transport sector, especially the rehabilitation of the railway system and road network facilities.

This, he said, would greatly enhance the transportation of both raw materials and finished goods.

Ejinkonye noted that the current administration’s effort in bringing solution to the fuel crisis had led to an increase in economic activities in the country.

On the trade fair, he said it was targeted at promoting accelerated development of commerce, promote the revitalisation and diversification of the nation’s economy to boost non-oil exports.

According to him, the 2015 is also designed to galvanise international entrepreneurship into the nation’s economy.

“Entrepreneurship is the engine that drives every 21st century economy; robust entrepreneurship is a must for a robust national economy.”

Meanwhile, the FCT Permanent Secretary, Mr. John Chukwu, represented by Mr. Abubakar Sani, said that the theme of the fair was timely and commendable, given the current economic realities of the nation’s economy.

Chukwu noted that the increasing number of unemployed youths had made entrepreneurship a viable platform to deploy the hands of job seekers and economically empower them.

He said that in a bid to reduce unemployment in the territory, the FCTA established ‘Abuja Enterprise Agency’ to key into the Federal Government’s job creation programme.

“We strategically established the Abuja Enterprise Agency as a special purpose vehicle for the development of entrepreneurship skills and the provision of viable financial muscle to support entrepreneurs.”'

He urged FCT residents to avail themselves of the opportunity of keying into the Abuja enterprise scheme and other abundant natural resources to grow their businesses.

Chukwu also commended other relevant institutions of government for their support toward the development of entrepreneurship in the country.

NAN reports that foreign exhibitors from Ghana, Cameroon, Egypt, Malaysia, China, India, Pakistan, Senegal and Benin Republic, among others, are participating in the fair. (NAN)

•Photo shows ABUCCI President, Tony Ejinkeonye.


Source: News Express

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