Why SME’s Are Not Growing In Nigeria, By Industrialist

By Emmanuel Ogheneovo
AN industrialist has explained why most companies belonging to the small and medium enterprises (SMES) sector are not growing in Nigeria, Delta State in particular.
The Industrialist, Pastor Kingsley UvietoboIshoyivwi, who is also the General Overseer of Holy Way, Agbarho, said Nigeria does not have the system wereby a small-scale businessman come up with a good business plan and financial institutions will be ready to finance such ideas.
“We keep hearing something like SMEs funds allocated to that, and this scheme. Where do they go to and who monitors them.
In developed countries, he said, you have a business proposal, you approach a bank, it helps you look at it, modifies it and goes on to help you look at the viability of it, and possibly fund it. But here in Nigeria, the banks just want you to give them your money and they give you ridiculous interest, he opined.
He said the church has assisted some youths to realise their dreams in establishing SMEs, thereby making them find their feet in life. Some are into manufacturing, and others are service providers.
The church, he said, has taught them the basic things they should know about manufacturing and services. The opportunity is opened to the church youths and others who are interested in SMEs, he added.