Kwara State Governor, Abdulrahman Abdulrazaq has assured that his administration would continue to support small and medium-scale (SME) businesses to deepen economic growth and fight poverty.
He observed that Nigeria’s trade and commerce have continued to suffer limited growth because the country consumes more than what it produces, adding that this largely accounts for the economic hardship in many households.
He said despite the fact that the oil and gas industry has been a catalyst of economic success in the country, there are a few instances of unbenefits in Nigeria’s reliance on the product, urging government at all levels as well the citizens to be productive rather than consuming always.
Speaking in Ilorin at the opening of the 9th Kwara Joint Trade Fair 2022, the governor said the event came at a time that government and private sector players should deepen their collaboration for growth.
“The timing and importance of this year’s event is unique because it comes at a time when all hands must be on deck to jointly improve the business climate in a sustainable way.
“Undeniably, our oil and gas industry has contributed and assisted Nigeria’s economic prosperity and growth. Nevertheless, this has come with its own downsides, including undue consumerism and unhealthy fixation on white collar jobs. This fixation caused millions of people to abandon trade and commerce in search of such jobs.
“The consequences have been grave for not just the country but also to sustainable economic development and standard of living of many families. Agrarian communities and mostly commercial centers built on trade have mostly been deserted today. Our agrarian economy collapsed with the oil boom of the 1970s. The rest is history,” he explained.
The governor, represented by Yakubu Danladi Salihu, the Speaker Kwara State House of Assembly, called for a change of attitude among Nigerians and urged them to continue to make efforts to grow the economy through trade, agro-processing, tourism, and innovation.
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He commended President Muhammadu Buhari on his efforts to de-emphasise Nigeria’s reliance on oil and rebuild the economy through massive investments in infrastructure in road and rail, agribusiness, commerce, among others.
He said that the Federal Government’s efforts align with his administration’s support for the SMEs and the general human capital development in the state.
“This is also our focus in Kwara as we make concerted efforts to support small and medium enterprises, agribusiness, innovation, and general human capital development that will raise a new generation of competent manpower for the job of now and of tomorrow,” he said.
“Our decision to support businesses and fund various job-creating projects like the Garment Factory, Visual Arts Centre, Film Factory, International Conference Centre, Shea Butter Factory, agroprocessing zone, as well as opening up key agrarian areas with roads while easing the business climate is geared towards this goal. It is the same reason we have committed to yearly support of this Trade Fair and other private sector led initiatives.
“The State Government has also established different structures and projects to identify the development in trade and investments and lawful exploration of our abundant mineral resources. Such organizations are the restructured Ministry of Business, Innovation and Technology, Kwara Investment Promotion Agency, Kwara State Social Investment Programme (KWASSIP), reconstituted Bureau of Micro, Small and Medium Enterprises (MSMEs), and the newly structured Ministry of Economic Planning, Research and Statistics,” he further said.
In his remarks, Zakirudeen Oladotun, State Chairman for NASME, informed that MSME contributes more than 25 percent to GDP, and more than 65 percent to employment in the country, saying this figure cannot be overemphasised.
At least 170 SMEs and 60 large scale businesses participated in the Fair that ended 20th of December this year.
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