From Isaac Anumihe, Abuja
Federal Government has reacted to the United States (US) tariff imposition on imported goods, saying that it will soon announce a number of schemes to absorb the shock the tariff would cause.
Speaking when Nigeria Association of Small and Medium Enterprises (NASME) honoured the Chief Executive Officer of Cutix Plc, Ijeoma Odunoye, with the award of the most successful female entrepreneur and an excellent performer, Special Adviser to the president on job creation, Mr Adekunle Tola Johnson, also stated that the government, last year, announced places where Small and Medium Enterprises (SMEs) can do businesses for eight hours depending on what the firm produces.
“I’m aware that the Ministry of Finance has issued a statement with regard to the tariff by the American Government under Donald Trump. And whatever the Minister of Finance has said, is more than sufficient. However, I know that President Bola Ahmed Tinubu will be announcing a number of schemes to absorb some of the shocks that will come out of the tariff implementation.
“Last year, the president announced places SMEs can do businesses with international equipment —-Information Communication and Technology (ICT), agriculture, fashion etc. By the end of this year, we will do another eight or 10 more so we could have about 20. This is inclusive of having job creation. SMEs can go and log in to these facilities eight hours a day. It depends on what you want to produce” he said
Meanwhile, one of the outstanding award recipients, Odunoye, who doubles as the Deputy President South, of NASME, was recognised for the financial performance of Cutix plc with a revenue of ₦12.18 billion, a profit before tax of ₦1.62 billion, and a profit after tax of ₦1.07 billion in 2024.
These figures represent year-on-year growth of 32 per cent, 36 per cent, and 35 per cent, respectively.
In her acceptance speech, Odunoye dedicated the award to the Cutix board, management and workforce, noting that the company will keep setting the standard in terms of quality.
“I appreciate the board of directors of the company that had worked hand-in-hand with the management to reach the milestone we are celebrating today,” Odunoye said.
“I appreciate the management team and every staff member of Cutix. I appreciate every contribution because I couldn’t have done it alone and I believe God will take us to greater heights.
“My advice has always been, for everything you want to do, let the quality speak for you. For every business you want to go into, try to find out what the rudiments and standards guiding it and you work according to these. That has kept Cutix going.
“People will come to the market and say Cutix is expensive but buy Cutix and sleep with your two eyes closed. Even the electricians will tell you, that if you don’t want to be spending on repairs and maintenance, use Cutix. It is expensive because we don’t cut corners. I’m telling people as a member of NASME whom I call my family, quality will speak for you.”she said.
Cutix Plc is engaged in the manufacturing and marketing of electrical, automobile, and telecommunication wires, cables, and related products.
The company is generally rated highly in Nigeria for its product quality and has consistently received high-level Standard Organisation of Nigeria’s NIS awards for product quality, including gold since 2003.