FG Urged to Support SMEs

Sunday Okobi

The management of Ultimate Onelove Empowerment and Investment Company Nigeria Limited, a loaning and investment and empowerment firm in Lagos, has charged the federal government, through the ministry of commerce, to constantly offer free and easy business development plans for those in the SME sector on the loans provided to them for business.

The firm also urged the government to intensify access to loans for small businesses as well as set up council to educate and supervise the growth of their businesses.

These advices were offered to the government at a media briefing held in Lagos, to herald the company’s seventh year anniversary and end of the year party scheduled to hold in Lagos on December 1, 2019.

At the event, the Managing Director of the investment firm, Mrs. Lynda Eze-uneke, told THISDAY that the company has provided loans and business support to numerous SMEs in Lagos and the South-east region as well as offer them constant mentorship on proper management and growth small business, as she called on the government to complement their efforts on SMEs in the country.

According to Eze-uneke, “The federal government, in order to grow the economy and take the country to a deserved state, should offer the stakeholders in the SME sector easy access to loan and free, easy and short term training on business development plans and proper management of the loans given to them, just like what our company is doing in local communities in Lagos and South-east area.

“We are providing people in the small and medium scale business with information on how to manage the loans given to them. We also encourage them on the importance of savings, the rules and benefit of savings and therefore making them to develop the habit of savings which in turn helps them to meet up with their urgent needs as well as keeping their business alive.

“Ultimately, we give them easy access to loan with low interest rate to boost up their businesses.”

The MD, who berated and described the federal government Tradermoni and Marketmoni programme for not being enough to start a substantial (SME) business, added that such money for a business plan was just a distraction which wouldn’t take any serious business-minded person anywhere, calling for SMEs to be giving high priority by the government, not doling out pittance in the name of SME loan.

Ultimate Onelove Empowerment and Investment Company Nigeria Limited boss, however, lauded the federal government over the border closure, which she said is of great help and advantageous “to our economy and the Nigerian people.”