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The International Chamber of Commerce (ICC), has called on the Federal Government to expand access to the financing of Small and Medium Enterprises (SMEs).
The President of the chamber, Mr. Babatunde Savage, said the only way to move Nigeria’s economy forward is for the government to pay attention to SMEs.
Savage, who stated this at the 2017 yearly dinner of the organisation in Lagos recently, noted that bridging the gap in infrastructure investment and promoting multinational framework on investment would be boosted if government expands access to financing the SMEs. Commenting on the congestion in the country’s seaports, he appealed to the Federal Government to address the situation to enhance trade and investment in the economy.
He noted that to compete favourably in the global economy, it was imperative that communication campaigns fall in line with the highest standards of ethical best practices. He called for collective agreement on trade issues and strengthened inter-governmental co-operation against corruption in the country.
He said, “with today’s rapidly changing technology, tools and techniques to market products and services, it is essential to benchmark with the ICC code, which provides an international standard for advertising and marketing communications practice, setting ethical standards and best practice guidance for businesses.
“The organisation has the mandate to formulate world business positions and initiatives by addressing government actions that affect marketing, advertising and consumer protection.
All stakeholders in the industry should promote freedom of advertising and commercial speech through effective self regulation as it serves as the cornerstone of the marketing economy.”
He said there was need for Nigerian government to forge strategic alliances with governments of other African countries to tackle hindrances to business growth.
Savage said that resolving bottlenecks that impede trade would promote cross-border trade and reduce operational cost of businesses.
