Policy Briefs

News Track : SMEs need help – Obaze, Anambra PDP governorship aspirant

Oseloka H. Obaze

A RECENT World Bank report says 600 million jobs are needed in the next fifteen years to absorb a growing global workforce. Four out of five new formal positions in emerging economies like Nigeria, says the report, is created by small and medium scale enterprises (SMEs), yet more than 50% of SMEs lack access to finance, which hinders their growth. In Nigeria, the fail rate of SMEs remains exceedingly high, despite reported governmental interventions.

Domesticating the issue, a frontline gubernatorial aspirant in the forthcoming election in Anambra State, Oseloka H. Obaze, said there must be concrete policy support from government, both at the national and subnational levels, if SMEs are to prosper. He noted that SMEs are of utmost importance in the growth and development of a nation’s economy.

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Oseloka Obaze, MD & CEO

Oseloka Obaze, MD & CEO

Mr. Obaze is the former Secretary to the State Government of Anambra State, Nigeria from 2012 to 2015 - MD & CEO, Oseloka H. Obaze. Mr. Obaze also served as a former United Nations official, from 1991-2012, and as a former member of the Nigerian Diplomatic Service, from 1982-1991.

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