Why SMEs must access presidential palliatives, loans – Reps

The Chairman, House of Representatives Committee on Small and Medium Enterprises (SMEs), Mansur Manu Soro (PDP, Bauchi), has stated that they are pushing for the implementation of the presidential palliative grants and loans for SMEs, to make them stronger and survive the effects of fuel subsidy removal and other economic challenges.

He stated this on Sunday while speaking on the activities of the committee to help grow strong SMEs through wide consultation with Ministries Departments and Agencies (MDAs) and other stakeholders.

According to him, strong SMEs will revitalise micro and macro-economic activities in the nation because they are the building blocks of the economy and provide employment and produce goods, adding that they contribute a lot to the Gross Domestic Product (GDP).

Rep. Soro said the initiative by President Bola Ahmed Tinubu to provide support to the sector for SMEs was a step in the right direction, especially at a difficult time when they are facing challenges that have affected their operations.

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The lawmaker said, the Committee had met with the Minister of Finance and Coordinating Economy, Wale Edun and the Minister of Industry, Trade and Investment, Doris Anite, Accountant General of the Federation, Oluwatoyin Sakirat Madein and the Director General and Chief Executive Officer (DG/CEO) of SMEDAN, Charles Odii and discussed ways to work together with the 10th House and the committee in particular to grow and nurture the SMEs sector.

According to him, there is a need to follow up the implementation of every government policy on SMEs by all the agencies responsible as that will ensure adherence and compliance as provided by the laws of the federation.

The committee chairman said the sector needs more support to grow and play its role as an important economic sector in the country.