Kwara State Governor, Abdulrahman Abdulrazaq has pledged that his administration would continue to support small and medium-scale (SME) businesses to boost economic growth and combat poverty.
The governor pointed out that Nigeria’s trade and commerce have continued to suffer limited growth because the country consumes more than what it produces, adding that this largely accounts for the economic hardship in many households.
Speaking in Ilorin at the opening of the 9th Kwara Joint Trade Fair 2022, the governor said the event came at a time that government and private sector players should deepen their collaboration for growth.
“Our oil and gas industry has contributed and assisted Nigeria’s economic prosperity and growth. Nevertheless, this has come with its own downsides, including undue consumerism and unhealthy fixation on white collar jobs. This fixation caused millions of people to abandon trade and commerce in search of such jobs.
“The consequences have been grave for not just the country but also to sustainable economic development and standard of living of many families. Agrarian communities and mostly commercial centers built on trade have mostly been deserted today. Our agrarian economy collapsed with the oil boom of the 1970s. The rest is history,” he explained.
The governor, represented by Yakubu Danladi Salihu, the Speaker Kwara State House of Assembly added:
“Our decision to support businesses and fund various job-creating projects like the Garment Factory, Visual Arts Centre, Film Factory, International Conference Centre, Shea Butter Factory, agroprocessing zone, as well as opening up key agrarian areas with roads while easing the business climate is geared towards this goal. It is the same reason we have committed to yearly support of this Trade Fair and other private sector led initiatives.
“The State Government has also established different structures and projects to identify the development in trade and investments and lawful exploration of our abundant mineral resources. Such organizations are the restructured Ministry of Business, Innovation and Technology, Kwara Investment Promotion Agency, Kwara State Social Investment Programme (KWASSIP), reconstituted Bureau of Micro, Small and Medium Enterprises (MSMEs), and the newly structured Ministry of Economic Planning, Research and Statistics,” he further said.
At least 170 SMEs and 60 large scale businesses participated in the 9th Kwara Joint Trade Fair 2022 that ended 20th of December this year.
