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SMEs: What Importance To Nigerian Economy?

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5 years ago

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The Small and Medium Enterprises (SMEs) sector, in recent times, has suffered many setbacks due to the COVID-19 pandemic and the #EndSARS protests that are currently rocking the country.
This week, The Tide’s Business Unit takes a look at the importance of the SMEs to the Nigerian economy and why the sector should be given proper attention by the government.
Our senior correspondent, Lilian Peters, went to town to have a chat with some entrepreneurs in Port Harcourt and here is what she came back with.
Chief Executive Officer of BenFather Enterprises, Rev. John Benneth, believes that without the SMEs, the demand and supply of the masses in any society cannot be met.
“The SMEs are the economic hub of the country and play a very important role in revenue generation.
“It is unfortunate that the same sector has not been given the required attention to thrive which will in turn benefit the society.
“Government should provide conducive environment for the SMEs and checkmate the excesses of touts and police who take undue advantage of the sector”, he said.
Rev. Bennett noted that many investors had left the country due to insecurity and lack of conducive business environment.
According to him, the harsh economic reality in the country has negatively affected the SMEs. He said the sector required urgent attention of the government to bounce back.
On the ongoing #EndSARS protests in the country, he said, “the youths are fighting a just cause, but unpatriotic Nigerians have hijacked the protests which resulted in the destruction of lives, property and even the business of SMEs”.
Chief Executive Officer/Managing Director of GEEPICS International Limited, Mr Gideon Emeh, says SMEs play a major role in the nation’s economy.
“The only way a nation can boast of a sustainable economic growth is by having a stabilised SME which is the backbone of any economy.
“Growth of SMEs is a sign of a good economy because they pay taxes, provide jobs for others and are also responsible for currency flow”, he said.
Emeh who deals on system softwares, security and engineering programming said the Federal Government has not done enough to help the growth of SMEs in the area of stable power supply, good infrastructure and harmonised taxation.
He urged small and medium entrepreneurs to always invest in self development and acquisition of current skills.
“When you do trial and error in business, chances are that you may succeed out of perseverance or fail out of frustration”, he said.

Managing Director of Ogbom Welding & Fabrication Works, Mr Christopher Ogbonna Nduka, says the importance of SMEs cannot be over-emphasised in the society.
SMEs, he noted, play an important role in reducing crime rate, providing services to the masses and also maintaining the systems put in place by the government.
According to him, “just as welding works provide security to properties, so do SMEs secure economic growth for the country”.
Nduka noted in strong terms that any country that wants a sustainable economy does not play with the entrepreneurs who drive its economy.
“Nigeria should make more moves to help the SMEs in the country to develop like other countries.
“Here, government is only interested in collecting one revenue or the other. Nobody cares for our welfare. Whether we make gain or not, we must generate revenue to all the three tiers of government in addition to contending with the touts who are ready to fight and destroy our working tools.
“This is the reason why we have many businesses closed down after the COVID-19 pandemic and now EndSARS”, he said.

Managing Director of DIDI Concepts, Mrs Lilian Ndidi Onuoha, says the SMEs play a very important role in the development of any nation.
Mrs Onuoha who deals on wares said, “the SMEs do not depend on government for employment, but rather create jobs for themselves and even employ people to reduce the level of unemployment that increases the crime rate in the society”.
She however, observed that the SMEs in Nigeria today “are below average compared to those of other countries.
“Government needs to do more in terms of financial support, encouragement and infrastructural development,”
She added that “the #EndSARS protests have also impacted negatively on the SMEs. The initial motive of the protesters was good but hoodlums hijacked it and damaged, looted and burnt businesses that SMEs built, nurtured and grew for many years”.

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Environment

AEPB Decried Low Performance Of Waste Evacuator In Abuja

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7 days ago

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March 23, 2026

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The Abuja Environmental Protection Board (AEPB) has decried the low performance of the waste evacuation and cleaning contractors, engaged by the Federal Capital Territory Administration to keep Abuja clean.
The Director, Mrs Kate Ogbonna gave the assessment during an interactive session with the contractors in Abuja on Friday.
Ogbonna said she was overwhelmed with unsavoury reports from the supervisors who monitor the daily performance of the cleaning and waste contractors.
“The reports at my disposal from our supervisors, who monitor the performance of the contractors are not too good.”
She called on the contractors to brace up and ensure proper and efficient waste evacuation across the Federal Capital City.
She said that the FCT Minister, Mr Nyesom Wike, has been keeping his promise of paying the contractors on time, stressing that they, therefore, have no excuse not to deliver on the terms of agreement.
She acknowledged that there could be challenges, which were normal with every job, and advised the contractors to procure more equipment and engage more hands where necessary, to make their job easy and seamless.
The director reminded the contractors that they signed the contracts on grounds that they were capable, and assured them that the Board would assist where necessary.
Ogbonna explained that the meeting was to educate and guide the contractors on the full weight of their duties as waste managers and evacuators.
“We want them to know that there are standards and what we expect from them. We have set rules and agreements guiding their schedules.
“All we want is for the Federal Capital City to be clean,” she said.
She appealed to residents and institutions doing businesses in the capital city to pay their waste and cleaning bills and procure the right size of waste bins commensurate with their residences and business offices.
She noted that waste removal and management was capital intensive, adding that residents need to do their part while the Board do its part.
“You cannot be owing and expect clinical waste removed.
“You cannot also have a bin meant for one household for a block of 10 flats and expect it to hold the waste you generate until the contractor’s trucks come around. It will definitely overflow and mess up the environment.
“To ensure Abuja capital city remains clean, devoid of pollution and epidemic free, all must do their part,” she said.
In his remarks, Mr Benjamin Enwerem, Director, Solid Waste Management, AEPB, said that some of the contractors have complained that most of the waste on the streets was being generated by night traders and funfare operators.
“These traders and funfare operators generate waste and litter the whole area, thereby, forming illegal waste dumps around residential and business areas.
“We have taken notice of this complaint and we will send our task force after them,” Enwerem said.
On the performances of the contractors, Enwerem said that although there were still lapses, the contractors were doing better by the day, noting that additional capable hands have been injected into the cleaning force.
On his part, Chairman, Association of Solid Waste Contractors, Mallam Ibrahim Babayo, acknowledged the unsatisfactory performance of the contractors and promised that they would improve.
Babayo also promised that the contractors would procure modern equipment and employ more hands to improve on routine evacuation of waste.
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Environment

Buildings Destroyed, 40 Injured In Lagos and C’Rivers 

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7 days ago

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March 23, 2026

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No fewer than 40 people sustained injuries, while one person was confirmed dead, in separate tanker-related explosions in Lagos and Cross River states.
In Lagos, the incident occurred in the early hours of Saturday along the Lekki–Epe Expressway, around Ologuro Bus Stop, opposite a filling station in the Sangotedo area.
According to the Lagos State Emergency Management Agency, a tipper truck rammed into a gas tanker from behind, sparking a massive fire outbreak.
The Permanent Secretary of LASEMA, Olufemi Oke-Osanyintolu, in a statement, said one person died in the incident, while two others sustained injuries.
“Upon arrival at the scene, it was discovered that a tipper truck rammed into a gas tanker, resulting in a fire outbreak. The driver of the tipper truck died as a result of the impact, while two adult females sustained minor injuries,” he said.
Oke-Osanyintolu attributed the crash to overspeeding and reckless driving, adding that the fire engulfed several roadside shops, causing extensive damage.
Tide source gathered that emergency responders, including the Lagos State Fire and Rescue Service and ambulance officials, were able to contain the fire and prevent it from spreading to nearby buildings.
Similarly, the Federal Road Safety Corps, in a statement by the Sector Public Education Officer, Elizabeth Jayeola, confirmed the incident, saying the crash involved a Sinotruck tipper and a Mack trailer.
“A total of four male adults were involved. One person died, one was injured, while two were unhurt. The crash was caused by speed violation, which led to loss of control and collision,” she said.
Jayeola added that the impact triggered a fire that left the tipper driver burnt beyond recognition, while his assistant sustained injuries.
According to her, three warehouses and about 10 roadside shops, including a gym and a generator house, were affected before firefighters brought the situation under control.
Several vehicles, including buses and cars parked within the affected area, were also damaged.
In a separate incident in Calabar, Cross River State, no fewer than 38 persons sustained varying degrees of burns following a gas explosion at a filling station.
The explosion reportedly occurred during the transfer of gas from a storage tank to a service tank when a hose detached, causing gas to leak into the surrounding area.
An eyewitness in a video, Ekanem Essien, described the moment as chaotic, likening the explosion to a bomb blast.
“The only thing we heard was a loud explosion. Everywhere was in confusion. I had to rush my baby out and grab my documents. We could not even reach the fire service in time,” he said.
The Police Public Relations Officer in the state, Sunday Eitokpah, in a statement, said the leakage quickly escalated into a fire, leaving residents with little time to escape.
“Several residents sustained injuries, primarily burns, and those with serious cases have been taken to the Teaching Hospital for treatment,” he said.
Despite the scale of destruction in Calabar, the PPRO confirmed that no death was recorded, while victims were receiving treatment at the University of Calabar Teaching Hospital.
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Environment

Why Buildings Keep Collapsing In Nigeria…. NIOB

Published

2 weeks ago

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March 16, 2026

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The Nigerian Institute of Building (NIOB) has attributed the recurring building collapse cases across the country to weak construction laws and failure to hold offenders accountable.
President of the institute, Daniel Kolade, made this known in Abuja at the 2026 Builders Day celebration, themed, “Advocacy and Policy Influence: Towards Sustainable Reforms for a Resilient Built Environment”
He expressed worry that, in spite of concerns over building safety, a key regulatory framework meant to strengthen enforcement within the built environment has remained pending before the National Assembly since 2006.
According to him, the delay has created a situation where those responsible for structural failures often escape punishment.
“Because the enforcement arm of the law is still lying with the National Assembly and has not been passed into law since 2006, the room remains for people to go scot-free when these incidents happen,” Kolade said.
According to Kolade, the lack of consequences encourages negligence on construction sites, as many operators believe little or nothing will happen, even if they violate building regulations.
Kolade cited previous building collapse incidents where, years after the tragedies, no individual had been prosecuted or sanctioned.
“As long as people continue to go free when these things happen, you should expect that it may not stop,” he said.
The NIOB president also said that the growing number of unqualified individuals working on construction sites worsened the problem.
He said it has become common for people without the required training or professional certification to assume technical roles in building projects.
“On most construction sites today, everybody claims to be an engineer, even labourers.
“Without the requisite knowledge and understanding, people just assume roles they are not qualified for,” he said.
Kolade noted that professional builders are regulated by the Council of Registered Builders of Nigeria (CORBON), which has the authority to register practitioners and discipline erring members.
He explained that builders found guilty of professional misconduct should face sanctions, including the withdrawal of their practicing licences.
However, he said the absence of a strong enforcement mechanism outside professional bodies makes it difficult to prosecute developers or project promoters who violate construction standards.
“In Nigeria, only one major case in Lagos saw the building promoter go down with the incident.
“In many other cases across the country, those responsible have walked free,” he said.
Kolade stressed that the built environment consists of several specialised professionals, each with defined responsibilities, including builders, architects and engineers.
He said the NIOB remained committed to promoting professionalism, ethical standards and quality assurance within the building industry.
March 13 is observed annually as Builders’ Day to create public awareness about the roles of professional builders and the importance of engaging qualified professionals in construction projects.
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