Finance

November 12, 2012

Banks should nurture MSMEs to grow – AMEN President

By PROVIDENCE OBUH

Members of the Association of Micro-Entrepreneurs of Nigeria (AMEN) took to the street, last week, on a ´One-Million-Man-March. This was to sensitise Nigerians, especially youths on the need for them to be self employed.

In this interview, the Association’s President, Prince Saviour Iche spoke with Financial Vanguard on how to groom the next industrialists who are catalysts to achieving the vision 2020 and other issues affecting operators in the sector. Excerpts:

What is the drive behind the march, and what did you intend to achieve?

What we want to achieve is to sensitise Nigerians that unemployment is on the increase because after school or graduation, a lot of youths seat at home and fold their hands, while looking for white-collar jobs. We are creating awareness to inform them that AMEN wants to establish a centre whereby we can nurture and train upcoming entrepreneurs. If you compare our product to others, you notice the efficacy in our products. It is recognised all over the world; we have the brain, but what we are lacking is the workforce and ability to access fund.

Who are your partners or sponsors in this project?

We wrote to the Federal and the states government for assistance and partnership in this programme, I can tell you we did not receive anything from them, we even sent a letter to the President, there was no response. But we are spending our hard earned money, we are doing these things because this nation belongs to all of us.

How have you affected the economy?

This association is in its second year and I want to tell you that we have put smiles on the faces of our members. In Lagos alone, we have about 300 members that are into manufacturing or services. We started in Lagos in 2010 but we have spread over to eight other states, AMEN is a National team, and over 50 of our members’ products have been registered with National Agency for Food and Drug Administration and Control (NAFDAC)

Do you think this association can grow the Nigerian economy?

Yes we can! The government keeps publishing billions of naira given to MSMEs on the pages of newspapers, but we have not seen it.

I want to challenge the Bank of Industry (BoI) to come out and tell Nigerians those entrepreneurs who are being given billions of naira that we are hearing and reading on the pages of newspapers, we need evidence.

Another thing is that the banks in Nigeria are not helping matters, they are only ripping us off. They are only going to where things are already made; they do not want to suffer, let them nurture small businesses to grow.

Coca-Cola started small. They started by giving the minerals inside cup, but today, Coca-Cola is a multinational company. AMEN members have what it takes to be the next Dangotes. AMEN members are the millionaires in the making, they are the people that will make Nigeria an industrialised nation as well a catalyst to actualising the vision 2020.

Have you ever consulted BoI and what is the feedback like?

We have written to the BoI severally and they have called us, but before you can access their fund, you will sell the only land given to you by your forefathers. They will ask you to bring a landed property. Where do they expect a micro entrepreneur to get a landed property?

I can tell you boldly, my father don’t have a landed property, so where do they expect me to get one. In other countries, what they expect is your brain, they buy your idea, they buy your product, they nurture you, and they watch you grow, but in Nigeria, they are looking for already made businesses. Give a micro entrepreneur N100, 000 and watch him in the next five months and see what he will become, some of us just need 100, 000 naira for  start up.