NASSI Advocates Palliative Measures for SMEs to Thrive

Samuel Mobolaji

The Small business owners are advocating palliative measures for businesses to mitigate the pains they are going through as a result of the fuel subsidy removal, which has led to skyrocketing cost of production and living cost.

The chairman, Lagos chapter of the Nigerian Association of Small Scale Industrialists (NASSI), Gertrude Akhimien, noted that, apart from the salary increase being demanded by Nigerian labour unions, government should provide commuter buses, reduce the cost of transportation, create policies to crash down food prices and make them available, lower electricity tariff and make it available, reduce fuel cost, make funds available to small businesses, among others.

“Nigerians will want to see a drastic reduction in the prices of staple foods, like rice, beans, wheat, millet, tubers, maize, etc. Availability of electricity, low cost of fuel are also essential for businesses. We know that if the cost of production does not reduce, sales cost cannot come down. If food production cost can be reduced drastically, our purchase cost can also be reduced. Government needs to grow our manufacturing, MSMEs and production sectors across value chains to improve employment,” she stressed.

Akhimien noted that, the decision to remove subsidy in the first place was a painful one, but government needed to cushion the effects. The group said, it’s a pity that government is yet to provide measures and high cost is killing businesses, workers and citizens.

On the request for increase in minimum wage by Labour unions, she said, it is a good idea and pleaded with government to listen to their plea.

On his part, managing director, Aarti Steel, Okhia Ehimigbai, noted that, the agitation for increase in salary will not help the situation, adding that it is curbing inflation that is the best thing to do now.

Buttressing his point, he said: “Our leaders are asking the poor to tighten their belt, while they are loosening theirs and we buy from the same market. Right now a paint bucket of tomatoes is going for N15,000 to N18,000. So how are we going to survive? It’s painful. The president created this problem. If on the day he removed subsidy, he had at least given 100% increase to the minimum wage, we wouldn’t have gotten to where we are today.”

He queried that: “Where is the savings from the subsidy removal. The roads are still bad,” noting that Nigeria is bleeding. “Anything can happen anytime from now.”

He called on the government to act fast and save the situation.”