Eddie Mbadiwe, a former member of the House of Representatives says adequate support of Small and Medium Enterprises (SME) will boost wealth creation as a way out of the recession.
Mbadiwe, who represented Ideato in Imo, gave the opinion in an interview with the News Agency of Nigeria on Monday in Abuja in reaction to the lingering economic recession.
He said that mobilisation of the micro business managers to drive the economy was imperative as a way out of the present hardship.
‘’All over the world, SMEs drive economies, they constitute 70 per cent of the economy, therefore, there is need for government to support them.
‘’If every entrepreneur is mobilised to effectively run his micro business, certainly he or she will employ another one or two persons,’’ Mbadiwe said.
The former lawmaker emphasised the need for governments at all levels to partner with the private sector for a prosperous Nigeria.
He expressed optimism in ending the recession with a synergy between government and economic stakeholders.
Mbadiwe, who described SMEs as reliable partners in economic development, said that Public Private Partnership (PPP) “is the way out’’.
According to him, Nigerian government needs the partnership of SMEs to cushion the effects of recession to a bearable limit.
He, however, urged Nigerians not to lose hope, saying that lasting solution could only be achieved by the citizens’ determination and patriotic reaction.
The former lawmaker expressed optimism that there was light at the end of the tunnel, saying that the recession was only temporary.
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