Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, has voiced his concerns over the severe impact of the “sit-at-home” orders issued by the proscribed Indigenous People of Biafra (IPOB) on the Southeastern geopolitical zone and its businesses.
He made this statement during a recent meeting with executives of the Nigerian Association of Small and Medium Enterprises (NASMEs), led by the association’s president, Mr. Abdulrashid Yerima.
Kalu expressed his concern over the dire consequences of these orders, saying,
“The Southeast geopolitical zone loses between N10 billion and N13 billion in the transportation sector alone on every sit-at-home day weekly.”
He pointed out that while the South-east endures these economic setbacks, other regions in the country continue their activities unaffected, emphasizing,
“When they sit at home in the South-east, the South-west, South-south, North-west, North-east, and North Central are not sitting at home.”
Moreover, Kalu underscored the broader impact, stating,
“When SMEs in the South-east suffer, the whole country suffers. Prices of goods and services will suffer if there is insecurity in the land.”
The deputy speaker pledged legislative commitment to address these concerns raised by the NASME executives. He stated,
“We must seek the growth of SMEs; there must be law to support it. We must examine existing laws that are not SMEs-friendly. That way, we can address some of the economic challenges facing the country via SMEs.”
Kalu promised to work with NASMEs for their growth, adding,
“We believe in SMEs because without them, major corporations cannot exist. We must support and promote the growth of SMEs.”
He also referenced recent data indicating that SMEs account for 48 percent of national GDPs in emerging economies, noting that the World Bank has declared that SMEs play a pivotal role in job creation.
Prior to concluding the meeting, the NASME president appealed to Kalu to facilitate laws that would support the growth of SMEs in Nigeria.
| ThisDay
