Council Seeks Cottage Industries For Improved Economy

The coordinator of Raw
Materials Research and Development Council (RMRDC) in Edo State, Mr Andrew Oloton, last Sunday called for the establishment of cottage industries in the state in order to boost the economy.
Oloton made the call in an interview with newsmen  in  Benin.
He said that the establishment of such cottage industries would help to create employment opportunities, improve living standards of the people and generate more revenue for the state government.
”We are encouraging people to go into cottage industry because the rate at which big industries are folding up due to irregular power supply and lack of infrastructure, is alarming.  Cottage level industrialisation is the only way to boost business activities in the state”, he said.
When you have many people going into production on a small scale such as fruit juice production, it leads to employment of persons and industrialisation.”
The coordinator also called for clustering of industries to ensure productivity and innovation and competition.
The council is also talking about clustering of industries which is about people doing related and complementing businesses in the same area.
You do not have to wait for one big industry in the name of Edo State Fruit Juice Processing Industry; it doesn’t work like that.
When we have little clusters doing that, at the end of the day, a lot of people will be employed and productivity will increase.”
Oloton urged banks to provide soft loans for small scale businesses, stressing that high interest rate was a problem to the development of such businesses.
He advocated the introduction of tax relief for small business operators in order to encourage the growth of SMEs. incorporation.