By Naomi Uzor

An industrialist has explained why most companies in the Small and Medium Enterprises (SMEs) sector are not growing in Nigeria.

Mr. Odulaja Oluwafemi Samuel, the industrialist and Managing Director, Bobby’s Mart, said, Nigeria don’t have that system in which an SME will come up with a good business plan and the financial institution will come to his/her aid.

“We just keep hearing something like SMEs fund; there is so many funds allocated to that, but where does it go.

In developed countries, you have a business proposal, you approach a bank, they look at it; they help you modify, they help you look at the viability and feasibility; and they fund. But here, the banks just want to bring your money and they charge at will; because you don’t have anywhere to seek redress they don’t give you the services” he said.

He said Bobby’s Mart, a subset of a company registered as Eternal Alfa Omega Concept Limited, has the opportunity to be neighbours to two ferry jetties, in Ikorodu, and that the basic thing about the super mart is to bridge the gap between the past and the present.

“We have the opportunity to be neighbours to two ferry jetties, and on daily basis you have like 300 cars struggling to come in (that’s for those cars that can make it here).