The Nigerian Association of Small Scale Industrialists (NASSI), has decried the slow pace in commercial activities facing the chain of manufacturing, distribution and consumption in Nigeria due to COVID-19 pandemic.
Dr Solomon Vongfa, National President of NASSI, in a statement on Thursday in Abuja said that the pandemic had crippled the commercial life of the Micro, Small and Medium Enterprises (MSMEs) across the nation.
Vongfa stated that the MSME’s occupied more than 70 per cent of Nigerian work force.
According to him, the current global health challenge has forced members of this productive sector to shut down their plants and companies across the country, thus running at a loss.
As a solution, the NASSI president requested the kind assistance of the Federal Government to support the MSME’s in order to revive and stimulate their businesses.
He also appreciated the Federal Government efforts and in particular the current release of N50 billion intervention fund through the Central Bank of Nigeria to support the growth of MSME’s nationwide.
In addition, he solicited for immediate support by the Federal Government through the Ministry of Industry, Trade and Investment to aid the MSME’s family at this period of global health challenge.
“The development of Nigerian economy to compete globally can be spurred by major stakeholders through the application of local content and looking inwards to Nigeria local resources.
“This will naturally stimulate industrialisation, create wealth and reduce crime in a nation of more than 200 million people,” he said.
He, however, expressed appreciation to the entire MSMEs sector and Nigerians for their patience during this trying period. (NAN)