Business
Expert Tasks FG On SMEs’ Growth
A financial expert, Mr John Wodinma, has urged the Federal Government to develop infrastructure and policies that would boost the growth of Small and Medium Scale Enterprises (SMEs) that would cater for the teeming unemployed youths in the country.
Wodinma who was the former Financial Manager of one of the defunct Micro Finance Banks made the call in an interview with The Tide in Port Harcourt on Friday.
He urged the federal government to eradicate factors that militate against the growth of MEs, saying an end must be put to the multiple taxes being slammed on SMEs.
He said that many times, taxes paid to the federal government were also demanded by the state and local governments.
According to him, “This is apart from the huge expenses on electricity among other things. These multiple taxations have prevented SMEs from growing and employing jobless Nigerians. If the federal government meant well for its economic diversification agenda, then this ugly trend must be curbed,” he added.
He also charged the federal government to establish more preservation facilities for farm produce, saying that the agriculture industry had not been successful in its food sufficiency project, because 70 per cent of produce every year were lost in transit and wasted due to lack of preservation centres.
Wodinma stressed the need for Farm Management Companies (FMC) to manage well the agricultural system of the country.
He appealed to the Central Bank of Nigeria (CBN) to be lenient on modalities for accessing funds for SMEs’ support, regretting that a lot of micro finance banks could not access the fund to empower the entire poor, because of its stringent rules.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
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