Nigerian economy can only improve when govt., investors support MSMEs – Experts

Some experts have revealed that the Nigerian economy can only witness a positive turnaround when governments at all levels and investors support Micro Small and Medium Enterprises (MSMEs).

The experts made these declarations during a press conference held at Nigeria Union of Journalists (NUJ) Press Centre in Ibadan, the Oyo State capital, on Wednesday.

Newsmen reports that the media briefing was held ahead of the forthcoming 1st International Foods, Beverages, Drugs Fair and Exhibition.

They explained that governments at all levels should create friendly policies for businesses to thrive.

A lecturer in the department of Food Technology at the University of Ibadan, Professor Kolawole Falade, while speaking, said that the country has huge potential for the average entrepreneur to grow the economy if given necessary support.

Falade described the supply chain of food and vegetables in Nigeria as very strong compared to other countries.

Another lecturer from the department of Pharmaceutical Chemistry, University of Ibadan, Olayemi Adegbolagun, said that the quality of some imported drugs can’t match some locally produced ones.

She said that she uses locally produced drugs more than imported ones.

“Today, we have our bitter and ugwu leaves being packaged abroad into capsules, and sold back to us. The government should assist our industries. Nigerians should also play their roles effectively”.

Other speakers, among whom are Prince Oluwarotimi Kolajo and Mr Francis Akingbade, insisted that the Nigerian economy would witness a positive turnaround if the government was ready to support MSMEs.

They maintained that many good ideas die in the country due to lack of support from the government and investors.