The Chief Executive Officer, The Centre for the Promotion of Private Enterprise [CPPE], Dr. Muda Yusuf, said there should be policies and legislation of interesting large enterprises and foreign companies alike. To sub-contract aspects of their operations and activities to the indigenous Small and Medium enterprises (SMEs).
Yusuf, stated this weekend in Abeokuta, the Ogun State Capital, during the Annual Workshop OF Labour Writers Association of Nigeria (LAWAN). He said the move was necessary to foster linkages and to build inclusiveness in the country’s industrialization process. He said unless the economy has these two critical infrastructures in place. It would be very difficult to ensure competitive SME growth, especially in the real sector.
Yusuf urged the Central Bank of Nigeria (CBN) to fix the foreign exchange liquidity and currency depreciation issues. He states it is a serious challenge impeding the growth of SMEs across sectors. Especially manufacturing, trade, agricultural value chain, ICT, and other service sectors.
According to him, “We should focus on labor-intensive industries to enhance job creation and promote economic inclusion. The government should ensure that there is adequate investment in core industries such as Iron and steel and petrochemical. We should take full advantage of the large Nigerian market to scale up our industrial capacity utilization.