Mr Rotimi Olowo, the Chairman, Lagos State House of Assembly Committee on Budget and Economic Planning, on Wednesday said that robust Small and Medium Enterprises (SMEs) would strengthen the nation’s economy.
Olowo (APC-Somolu I) said this in an interview with the News Agency of Nigeria (NAN) in Lagos.
He spoke on the Federal Government’s economic recovery plan.
“A lot of Nigerians are in depression due to economic recession.
“We should make funds available to Small and Medium Enterprises.
“We should make the banks to do their job of financing investments.
“We have a lot of enterprises that cannot meet up because of issues that border on finance and infrastructure,” he said.
According to him, the government also needs to give more attention to job creation, provision of power and improving security.
He said: “We need to empower the people, empower our industries and empower security personnel.
“ It should be an enduring security arrangements that will guarantee protection of lives and investments.
“Nigeria cannot bounce back if we don’t invest in security, infrastructure and technology. ”
The lawmaker also urged the government to do more to diversify the economy to simulate growth.
On the Federal Government’s borrowing plan, Olowo said that there was nothing wrong in borrowing for capital projects necessary to revamp the economy.
He urged intensified efforts to end economic recession. (NAN)
AYO/ENN/IGO