As businesses continue to suffer as a result rising cost of, Comrade Saviour Iche, the National President of the Association of Micro-Entrepreneurs of Nigeria (AMEN), has called on the Federal Government to remove import duty on raw materials and machinery to save businesses, especially small and medium enterprises (SMEs) from collapse.
Speaking in an interview with Daily Independent in Lagos on Wednesday, he said that the rising cost of raw materials and machinery was threatening the very existence of small businesses in the country.
He also stated that the rising inflation was also impacting negatively operations of small businesses. He called on government to implement policies that would buoy operations of small businesses, because, according to him, they contribute immensely to the economic development of the country.
Speaking on the reopening of the country’s land borders, he posited that it was a mistake to shut the borders in the first instance, adding that the closure of the borders contributed to worsening economic situation in the country.
According to him, small businesses could not access raw materials as a result of the closure of the borders and they could not sell their products at the same time, leading to massive revenue losses.
Iche argued that the country also suffered revenue losses during the period because businesses could not export their products and earn foreign exchange for the country. He stressed the need for the Federal Government to consult stakeholders on issues that affect them.
Dwelling on the funds that were announced for small businesses as a result of COVID-19, he insisted that actual small business owners did not access the fund, adding that most of the people that got the fund were not business owners.
He suggested that Business Management Organisations should be involved in the disbursement of funds to small businesses, because, according to him, they know people who actually own businesses in the country.
He said that restriction on the importation of some products should be lifted.
The national president of AMEN said that the bad state of Nigerian roads was contributing to the high cost of product because transport operators charge high cost because the roads are bad and urged the government to invest in road infrastructure and upgrade the roads.
