Financial expert harps on massive investments in SMEs

A Financial expert in Nigeria, Mr Ahmed Abolaji, has advocated for massive investment in entrepreneurship development and skill acquisition to boost diversification of the nation’s economy.

Abolaji, who is also the Chief Executive Officer, Grassroot Alliance Consult, told Journalists in Omu-Aran, Kwara state, that such investment would help actualise the desired self sufficiency among the citizenry.

He said promotion of Small Scale Enterprises (SMEs) would also help to reduce unemployment, youth restiveness and the prevalent spate of insecurity in the country.

According to him, there is urgent need for stakeholders in the economy to explore other key sectors for solution to the nation’s socio-economic and security challenges.

He identified continuous training on entrepreneurship development, vocation and skills as very crucial to achieving a non-oil dependent economy.

“Such massive investment in entrepreneurship development would assist to fast track and promote the Federal Government’s policy aimed at diversifying from oil based economy to self-reliance.

“There is the need to tap into the opportunities and advantages in the SMEs to transform the economy.

“For emergence of new entrepreneurs, our youths need to be trained on how to access funds from the Central Bank of Nigeria (CBN), Bank of Industry (BOI) and other relevant financial institutions.

“Such training will not only help the youths in sourcing for funds for their businesses but also improve their income generating capacities.

“The framework offered through the training would also ensure the survival and sustenance of the numerous SMEs within the targeted areas,” he said.

Abolaji also undrtscored the need for Public Private Partnership (PPP) in alignment with the Federal Government policy thrust on poverty alleviation with major emphasis on SMEs development.