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Traders Task FG on funding of Small Scale Industries

By Henry Umoru
THE National Association of Nigerian Traders (NANTS) has said that if the Federal government must achieve the set goal of becoming one of the top twenty economies of the world, there was the urgent need for resources to be channelled into the development of small scale industries in Nigeria.

Speaking at the public presentation of a report on the Nigeria Small Scale Industry with Aba as case study in Abuja , the NANTS President, Mr. Ken Ukoha who noted that Aba can compete favourably with any industrialized city of the world, stressed that  “If this country is serious in realising the objectives set out in the vision of becoming one of the 20 biggest economies by 2020, this sector must be placed at the forefront.

The Japans and Chinese of this world can attest to the fact that small scale industries contribute to the growth of national economy. “Aba has provided this ready opportunity for Nigeria, it’s a story of neglect of proven source of wealth, the industrial development in Abia state can place Nigeria in the forgotten map of industrialisation.

“Aba can assist Nigeria tap into the African Growth and Opportunity Act(AGOA) provision which has been eluding the country, it can help Nigeria satisfy the yearnings of ECOWAS regional market which has remained untapped. The zone has all it takes to be used as a pilot ground for the planned industrial cluster project.

“We want to beckon on all international and development oriented organisation in Nigeria to devote their assistance to reviving and building the capacity of industries in country and placing Nigeria on the forgotten road to poverty reduction.

In his remarks, the reviewer of the 42-page book, Mr. Emmanuel Evbodaghe of the centre for development and corporate responsibility, however corroborated Ukaoha that there was the need for proper funding of Small Scale Industries in the country, adding that though infrastructure was a challenge in the country, he was of the view that there were still some industries trying to live above board.


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