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Abuja Private Sector Calls For Bigger Incentives For MSMEs

Abuja Chamber of Commerce and Industry Limited (ABUCCI) has urged the Federal Government and other stakeholders to provide support and appropriate incentives for the development of micro, small and medium enterprises (SMEs) in the country.
Tony Ejinkonye, president, ABUCCI, made this call at the opening ceremony of the 2015 Abuja International Trade Fair.
Ejinkonye also urged the government to reposition the manufacturing sector as it was the engine of growth of any economy, while appealing for the development of infrastructure to help support the real sector of the economy.
He said the call became necessary given the importance of SMEs in the development of any economy, adding that it was important for the current administration and other stakeholders to seriously address challenges in the transport sector, especially the rehabilitation of the railway system and road network. This, he said, would greatly enhance the transportation of both raw materials and finished goods.
The 10th Abuja International Trade Fair commenced on September 18, with the theme “Entrepreneurship as a Panacea for Economic Growth.‘’
According to the Chamber’s president, the theme of this year’s fair is chosen based on the reality that about 75 percent of the organised private sector is made up of SMEs.
Ejinkonye noted that the current administration’s effort in bringing solution to the fuel crisis had led to an increase in economic activities in the country.
On the trade fair, he said it was targeted at promoting accelerated development of commerce and promote the revitalisation and diversification of the nation’s economy to boost non-oil exports.
According to him, the 2015 fair is also designed to galvanise international entrepreneurship into the nation’s economy.
“Entrepreneurship is the engine that drives every 21st Century economy; robust entrepreneurships is a must for a robust national economy,” he said.
Meanwhile, John Chukwu, FCT permanent secretary, represented by Abubakar Sani, said the theme of the fair was timely and commendable, given the current economic realities of the nation’s economy.
Chukwu noted that the increasing number of unemployed youths had made entrepreneurship a viable platform to deploy the hands of job seekers and economically empower them.
He said that in a bid to reduce unemployment in the territory, the FCTA established “Abuja Enterprise Agency“ to key into the Federal Government’s job creation programme.
“We strategically established the Abuja Enterprise Agency as a special purpose vehicle for the development of entrepreneurship skills and the provision of viable financial muscle to support entrepreneurs,” he said.
He urged FCT residents to avail themselves of the opportunity of keying into the Abuja enterprise scheme and other abundant natural resources to grow their businesses.
Chukwu also commended other relevant institutions of government for their support toward the development of entrepreneurship in the country.
Foreign exhibitors from Ghana, Cameroon, Egypt, Malaysia, China, India, Pakistan, Senegal and Benin Republic, among others, are currently participating in the fair.

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