How Nigeria can achieve 7% GDP growth – Kumide

The desire of the Federal Government to achieve 7% Gross Domestic Product (GDP) annual growth and to lift 100 million Nigerians out of poverty is possible if a favourable business environment for Micro, Small Medium Enterprises (MSMEs) is created.

Ayo Kumide, the representative of the Presidential Enabling Business Environment, made this known Tuesday at a town-hall meeting for MSMEs, organised by the Nasarawa State Investment Development Agency (NASIDA) in Lafia.

The town hall meeting was the first of its kind in Nasarawa State. It was tagged, ‘Nasarawa Business Environment’. It brought together over 300 MSMEs owners to be acquainted with government reforms and initiatives being introduced by the administration of Governor Sule, as well as to improve the business environment for growth and development.

Kumide emphasised that the only way Nigeria can achieve its goal of 7 percent GDP annual growth and lifting Nigerians out of poverty is for governments to concentrate on creating a favourable business environment for MSMEs.

“That is why interactions such as this are pretty and very much important. We are glad that Nasarawa is at the forefront of this intervention and we are pleased that His Excellency has prioritised the creation of a favourable business environment,” Kumide stated.

He commended the NASIDA for organising the first business environment townhall meeting, and expressed confidence that by next year, Nasarawa State would be among the shining lights in the ease of doing business in the country.

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Abdullahi Sule, governor of the state in a remark said, having recognised the importance of small businesses in the growth of the economy of the country, his administration on assumption of office, initiated several policies and laws geared towards creating a favourable business environment in the state.

According to the governor, the essence was to help towards facilitating the development of its own people and society, and stressed that, the only way to develop any community or society is to ensure that people are economically independent of government, hence why his government came up with several laws, aimed at providing the ease of doing business in the State.

He explained that, on coming into power, his administration unfolded the Nasarawa Economic Development Strategy (NEDS), as well as set up the economic advisory committee chaired by Professor Konye Ajayi, a respected lawyer in the country who is also in the area of economic development.

“We have the one-stop shop where small businesses will come in and then go to NASIDA, for an idea of setting up the investment agency. The whole idea is to assist people like you, so that you will be able to set up your businesses,” he said.

Sule who recalled co-chairing the federal government steering committee on poverty reduction, said he administration saw the need to take advantage of the scheme that would take 100 million Nigerians out of poverty in the next 10 years.

He then expressed satisfaction that over 300 small business owners, including youths, are participating in the town hall meeting, which provided an opportunity for the government to hear from them.

The Governor noted that the parley was an avenue for the government to interact with MSMEs, with a view to understanding their challenges, as well as to get the various risks involved.

He therefore urged participants at the meeting to freely engage with the government officials for better understanding of each other.

Ibrahim Abdullahi, the MD/CEO NASIDA, said the party allowed the government, through the various MDAs, share with MSMEs various reforms that are being implemented in the state.

These reforms, according to the NASIDA MD, are to make businesses comfortable, as well as to improve the business environment.

“This is the first of its kind and we are delighted that His Excellency, the governor, continues to put the business community, and small businesses like you, at the forefront of the government agenda,” Abudullahi said.

He was optimistic that the town hall meeting provided an avenue for the revitalisation of the state economy, especially that MSMEs are the engine room of any economy.

“In Nasarawa State, Engineer Abdullahi Sule has recognised this and is working, through all our various institutions, to ensure that we truly set out all the legal regulatory framework to ensure that our business environment in Nasarawa State is top notch,” the MD added.