Nigeria Content Online

For
the Nigerian economy to reach its potentials, attention must be paid to
the improvement of small and medium scale enterprises (SME) in the
country, some business operators in the United Kingdom (UK) have said.

Stephaney
Andre, operational manager of One Pound Shop, a supermarket in
Manchester, told NEXT that small scale businesses will help any economy
to achieve productivity and industrial growth. “The growth in the
economy of the UK could be attributed to the productive activities of
small and medium scale businesses, which was made possible because the
UK provides favourable environment for businesses to thrive,” Ms. Andre
said. She said developing countries, like Nigeria, only need to focus
on the basic services that small scale businesses need to survive to
achieve productivity.

National shame

A
Nigerian, Toks Adeola, who owns a local food shop at the UK Open
Market, in East London, said the lack of basic infrastructural
facilities in Nigeria is what is “destroying the country’s economy.”
“It’s a shame that Nigerian government cannot provide stable power and
water supply at 50 (years of independence),” he said. “Good roads and
transportation are nothing to write home about. Here (in the UK), small
businesses are the main driver of the economy because the environment
is good for our businesses.” He said irrespective of the taxes business
operators pay in the UK, “we still make gains from the investment,”
adding that Nigeria needs a “real political commitment and drive” to
achieve stable economy.

A
survey, in the UK, of 406 business owner-managers canvassed on behalf
of QBE, a specialist business insurer, revealed that SME dictates the
economic health of the nation. Terry Whittaker, managing director of
distribution at QBE European Operations, recently said, “Small to
medium-sized enterprises form a crucial section of UK business and it
is important that their collective voices is heard on the future of our
economy, because they have a key role to play in its recovery.”

Beyond oil

Obiageli
Ezekwesili, World Bank Vice-President for the Africa Region, said it is
necessary that the Nigerian government move beyond the oil sector. She
said presently “the energy sector stands in the way of the development
of the small and medium scale enterprises.” Mrs. Ezekwesili said that
in developed countries “it is not the large companies that dictate the
momentum of those nations.” She said Nigeria need small scale
businesses to grow. This according to her, “requires improving the
infrastructural facilities for businesses to thrive because government
organizations cannot build the economy alone.”

Asked
if the economy situation in Nigerian is attractive to foreign
investors, Mrs. Ezekwesili, said, “I think one thing that has become
clear is that foreign investors are always on the lookout for
democratic stability. So nations that understand this are paying a lot
of attention to building political systems that are credible,
legitimate and very accountable to citizens. Nigerian government needs
to pay attention to those kinds of issues; not just to foreign direct
investors but to domestic investors.” She added that “democratic
institutions enable you to improve on the rule of law and it provides
predictable environment for policies that are pro-business friendly.”

Stephen O’Brien, Parliamentary Under Secretary of State for
International Development, said, “It is the private sector that create
jobs and gives the opportunity for all to prosper, which directly boost
any nation’s economy.” Mr. O’Brien added that business success can only
be built on the right environment, which many African nations are yet
to achieve. According to him, “transport costs in Southern Africa are
on the average 75 per cent than in Europe and 40 per cent more from any
of the rest of the countries.”