Business
States Pledge To Improve SME Investments
States in the South West Zone have pledged commitment to the improvement of the investment climate to attract investors and ensure development and industrialisation of the region.
They made the disclosure at a consultative forum tagged, ”Ease of doing business, “ which held at Owu Crown Hotel in Ibadan recently.
The forum was organised by the Development Agenda for Western Nigeria (DAWN ) in partnership with the Department for International Development (DFID).
The representatives of the states–Mr A.R Alonge (Ondo), Mrs Folakemi Akinleye (Oyo), Musari Olukayode (Ogun) and Gabriel Oso (Osun)—in various submissions, pledged to provide an investment-friendly climate to promote SMEs and other investors.
They, however, lamented the non-repayment of over N2 billion in loans given to SMEs in the zone, saying this was affecting the sustainability of the initiative.
Stakeholders at the forum in their presentations, had called on governors in the zone to review policies on small and medium business enterprises to allow industrialisation and development to thrive.
The forum, which had in attendance representatives of the South West states, also attracted participants from the private sector, NDLEA, NAFDAC, SMEDAN, Civil Society Organisations, security agencies and Corporate Affairs Commission.
Mr Adetayo Adeleke-Adedoyin, a Staff Analyst at the DAWN commission, said that stakeholders have roles to play in identifying challenges and proffering solutions to drive development in the zone.
“Nigeria was ranked 169 out of 190 countries in 2016 on ease of doing business.
“This was the reason for the constitution of a presidential committee by the Federal Government to unravel challenges of doing business and proffer solutions,” he said.
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