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MANUFACTURERS SEEK MORE SUPPORT FOR SMES

By NBF News
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http://www.nigerianbestforum.com/blog/?attachment_id=122076 The Manufacturers Association of Nigeria (MAN) on Friday urged government at all levels to lay emphasis on development of small and medium scale enterprises in the New Year 2013.

The Chairman of MAN, Ikeja branch, Rev. Isaac Agoye said in Lagos that the nation's economy would benefit from such measure.

He said banks should give more loans to operators of such business outfits as they are engines of economic development, adding that access to capital could no longer be an overwhelming limitation to genuine and enterprising Nigerians seeking to establish small businesses.

“Government can really help in this   New Year   by granting more development loans through the Bank of Industry. This is imperative as their growth can help to create wealth and alleviate unemployment,'' he said.

Isaac  Agoye, said that the challenges facing the industrial sector remain insecurity, uncertainty, dearth of basic infrastructure, lending rates of double digits, inconsistency in government policies, high handedness of some regulatory agencies and high over-head expenses.

He listed other challenges to include unnecessary government bureaucracy and bottle-necks, multiple/illegal taxes, levies, fees and unnecessary/multiple visitation from regulatory agencies.

Agoye said that  MAN  was a major converging point for the member companies and the Organised Private Sector (OPS) as well as the government regulatory agencies whose operations impact directly or indirectly on the manufacturing sector.

He stated that despite the not too friendly business environment, and the doggedness and commitment of members to making the manufacturing sector an enviable sector of the economy was not only laudable but commendable.

He singled out the   foods and beverages industries as a fast growing business in the sector, saying more local fruit juice processing companies need to be   established this   year.