Some traders in the Federal Capital Territory (FCT), have urged the Federal Government to help them secure soft loans to enable them expand their businesses.
The traders made the appeal on Thursday in Gwagwalada, FCT.
Mrs Lami Gaji, a producer of tropical black soap, said that her product was of good quality and could compete with similar products globally.
Gaji, however, decried the high cost of production, especially the fees they were made to as a precondition for registration by the Standards Organisation of Nigeria (SON), and other sister agencies.
According to her, her product enjoys good patronage, but has not been able to enjoy wide spread sales because she cannot afford the high charges for business registration.
She called on the government to give loans to petty traders, to ameliorate the financial challenges the traders were facing in running successful businesses in the country and contribute to its economic growth.
Mrs Laraba Kure, who deals on non-perishable food stuff such as beans, plantain flour and tiger nuts, said that her major challenge was the inability to access credit facilities.
“There is a processing machine, and it is very important in my kind of business; but I cannot afford it.
“If I can access any soft loan, I will buy a processing machine and my business will grow,’’ Kure said.
Similarly, Mr Daniel Yaro, who is into table mats and picture frames’ production, said he was capable of employing no fewer than 20 persons if his business was adequately funded.
“I produce more than 50 table mats and picture frames every week, but I cannot secure a shop in the market because of the high rent.
“The materials I use are of good quality, but some customers will always want to see things made from China or U.S.
“If my business is adequately funded, I can employ more than 20 people, go into mass production for export purposes,” Yaro said.
He said paucity of funds would continue to be a hindrance to business and economic growth in the country unless government intervenes by assisting traders financially such as with the provision of soft loans.
