African Association for Small and Medium Enterprises (AASME) Council has called on President Bola Tinubu, to as a matter of urgency, embark on creating an enabling environment for the unorganised private sector to thrive alongside their counterparts elsewhere. It also advised, beginning from this year, to allocate a minimum of 30 percent of the annual federal government budgetary proposals to the sector, to make funds available to the end users.
President of AASMES, Darlington Kalu, who spoke at the World-African MSMEs knowledge hub, in Aba, Abia State, regretted that politicians have over the years, diverted funds set aside as loans and grants for SMEs.
He noted that despite the SMEs making up more than 95 percent of the nation’s workforce and raw materials providers, small scale entrepreneurs and artisans find it extremely difficult to obtain loans to grow and develop their businesses.
Kalu faulted the new administration for inflicting more sufferings on Nigerians in addition to what they suffered during the immediate past administration of Muhammadu Buhari. He listed the dire life-threatening downturns to include the COVID-19 in 2019/2020, the October 2020 #EndSARS protests, 2021-2023 currency redesign, insecurity and the 2023 elections that halted business activities, especially for MSMES, as well as the fuel subsidy removal without providing palliatives, that created high inflation.
On behalf of the association, Kalu appealed that funds owed the group by the federal, states and local governments across the country be paid. He wants such grants and loans to MSMES, to get them rehabilitated and repositioned for the rebirth of the productive sector of the national economy.
“Every fund mentioned by government to be allocated to MSMES sub sectors, have always been cornered and diverted by politicians. The records are there for people to see, so we want the present administration to be proactive.
“Presently, all public infrastructure that helps people to live normal life are broken down. Our energy sector was privatized and handed over to people that know nothing in the area.
“This makes it look like it was used to settle them politically,” Kalu pleaded.