Nigeria must invest in SMEs to develop – Obi

Former Governor of Anambra,Peter Obi, on Friday listed two conditions that must be met for Nigeria to overcome its economic difficulties and for Africa to develop.
He said that governments in the country needed to invest massively in education and skills training as well as meaningful support for Small and Medium Enterprises (SMEs) to overcome economic challenges.
Obi made this known in an interview with NAN at the sideline of the 2018 African Small and Medium-Scale Roundtable in Yenagoa.
He said that Nigeria must focus on investing in education and skill acquisition in order to improve its economy and drastically reduce the level of youth unemployment.
The former governor stated that Nigeria must see education and skill acquisition as an investment as such would help to diversify and grow the nation`s economy.
According to him, from the discussions we had at the roundtable, it was evident that there are huge opportunities in Africa.
Obi, however, said that to avail the opportunities, “Africa requires huge investment in education and skill acquisition as well as effective support on SMEs; the effort will help to build a prosperous future.
“Also, for Africa to transit from exporter of raw commodities to a manufacturer of finished goods and become a significant member of the global technological world, the people must be educated.China is one of the best in economy in the whole world today, because the country engages its people seriously in education and skill acquisition programmes.
“Young people must invest wisely for them to create wealth and jobs for others. The problem of Africa depends on the youths because they fail to invest wisely,” he said.
On his part, Special Adviser to Bayelsa Governor on Trade and Investment, Stephen Akake, said that SMEs were established to impact directly on the people.
Akake said that the objective of the roundtable was to discuss possibly ways that could help people to access loans from micro-finance banks for business purposes.
He said the Bayelsa Government had created micro-finance banks to help business-oriented individuals to borrow money.
He said that tremendous support in SMEs by meaningful people would also help to enhance development of Africa.

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