The Commerce and Industry Correspondents Association of Nigeria, (CICAN), Abuja has expressed concern over the possible economic sabotage the African Continental Free Trade Area may cause Nigeria if the country’s Small and Medium Enterprises (SMEs) is not repositioned for increased productivity.
Speaking in Abuja, the Chairman of CICAN, Mr Fred Idehai advised the federal government against making Nigeria a dumping ground as a result of AFCFTA, calling on stakeholders in the economic sector to support SMEs as a way of repositioning the nation’s economy.
According to a statement from Mathew Ayoola, the association is making efforts to bring together key stakeholders in the economic sector to deliberate on the ways to empower businesses in the country.
To this end, CICAN plan to hold its Annual Conference on the 15th of October, 2021 with a focus on the place of AFCFTA in Nigeria’s economic diversification plan and the federal government COVID-19 support programme for MSMEs, ‘Survival Fund’.
The statement also emphasised the need for Nigeria to quickly diversify her economy through export and promotion of local and agricultural commodities among other quality policies and initiatives, stating that the conference would equally recommend to the authority ways and strategies to adopt in getting it right.
Idehai expressed worry over difficulties experienced by small scale business owners as a result of the aftermath of the COVID-19 pandemic.
He, however, commended the various interventions of the federal government especially through MSME’s Survival Fund to cushion the devastating effect.
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