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Recession: Business owners seek special intervention fund for SMEs

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Business owners in the country have urged the Federal Government to consider re-introduction of special fund for the development of small and micro businesses in the country.

This came as they expressed concern over the negative impact of the current recession on businesses across the country.

They stressed the need for a mechanism that would make access to loan and other financial facilities easily accessible by small-scale business operators.

Speaking ahead of Christmas Trade Fair in Abuja, Director of Operations at Wuye ultra-modern market, Abuja, Mr Balogun Oluwasegun, observed that the introduction of the SMEs support fund by the last administration went a long way in boosting the sector.

He stressed the need for the Federal Government to engage competent experts and stakeholders that would get the country out of the current recession.

Also speaking, the chairman, Trade Fair Planning Committee, Mr Joe Wenegieme disclosed that the fair was aimed at boosting economic activities in the FCT and its environs.

He said that necessary arrangements had been put in place to ensure the success of the trade fair which would commence next week.

Wenegieme urged prospective investors to take advantage of the opportunities of the fair to showcase their businesses.

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