A lecturer of Economics at the University of Abuja, Gobna Wafure has urged the Federal Government to formulate and enforce polices that will enhance the growth of Small and Medium Enterprises (SMEs) as well as bring real economic development.
Wafure who made this known while interacting with newsmen at the Port Harcourt International Airport, Omagwa, last Friday noted that SMEs contribute significantly to the growth and development of the nation’s economy, and therefore required government policies that would enhance its growth.
“The government has a role to play by formulating policies that would sustain the growth of SMEs in the country through soft loans and reasonable lending rate.
“If entrepreneurs can have access to funds, it would bring about job creation, as well as encourage Nigerian youths to be self-employed, and will not be idle.
“Some entrepreneurs are not always given the chance to showcase their production during trade fairs because of some stringent policies in the country”, he said.
Wafure also, did not give support to any thing that would lead to devaluation of the naira, arguing that doing so would affect small business operators in the country, and may worsen the unemployment situation.
He, however, welcome every move by the Federal Government towards diversifying the nation’s economy, as this would save the country from unexpected and unstable price of oil in the international market.
The university don listed the repercussion of oil-dependent economy to include inflation, budget deficit, poor financing of key projects and sectors, among others.

Corlins Walter