Some experts have said that Nigerian economy will witness positive turnaround with support from government and investors for Micro-Small and Medium Enterprises (MSMEs).
They stated this at a news conference held at Nigeria Union of Journalists (NUJ) Press Centre in Ibadan on Wednesday.
The News Agency of Nigeria (NAN) reports that the news conference was held ahead of the First International Foods, Beverages and Drugs Fair and Exhibition, scheduled for October.
NAN also reports that the conference will be organised by University of Ibadan (UI) Ventures Limited, in conjunction with 1st A-Z Exhibition.
Prof. Kolawole Falade, of Department of Food Technology, University of Ibadan, said that the country had huge potentials for an average entrepreneur to grow the economy, if given necessary support.
Falade described the food and vegetable supply chain in Nigeria as very strong compared with other countries.
He said that the industry would continue to innovate and grow the country’s economy, with financial support from government and investors.
Dr Olayemi Adegbolagun, also of Department of Pharmaceutical Chemistry, University of Ibadan, said that the quality of some imported drugs could not match locally-produced ones.
Adegbolagun, an analyst in counterfeit and substandard products, said that she used locally-produced drugs more than imported ones
She said there were lots of herbal products with prospects for development, but could not be harnessed due to lack of support.
Adegbolagun commended NAFDAC for doing excellent job, urging government to support local pharmaceutical industries to serve the nation’s health sector perfectly.
“Today, we have our bitter leaves and Ugwu leaves being packaged abroad into capsules and sold back to us.
“Government should assist our industries. Nigerians should also play their roles effectively,” she said.
A former General Manager of Nigerian Bottling Company (NBC), Mr Oluwarotimi Kolajo, said that there was so much potentials in food and drugs.
Kolajo, who spoke on beverages, said the country’s economy would witness positive turnaround, if government could support MSMEs.
According to him, so many good ideas die in the country due to lack of support from government and investors.
“What is wrong with Nigeria in terms of growing businesses? Unfriendly policies that require you to donate your arm and legs to run a company for two years.
“Government should create friendly policies for businesses to thrive. The success of the economy is, however, not in the hands of government alone.
“Nigerians shouldn’t wait for government in the area of financing. They can seek finance from private investors. The future is agriculture,” he said.
Earlier, Mr Francis Akingbade, the acting Managing Director of UI Ventures Limited, said that the event was aimed at bringing together government, h.manufacturers from the three sectors and financial support institutions.
“The conference will be an assemblage of pharmaceutical companies, food producing and processing companies as well as beverage companies.
“The event will highlight the progress that has been recorded in these sectoral industries and proffer new ideologies for their overall progress and development,” he said.
Akingbade said that the event would also create a link between research works, local and foreign innovation as well as full-fledged production skills for increased yields.
He said that it would explore the vast but untapped employment opportunities in the three key sectors as well as food processing and allied arts.
Akingbade said that the event, which was the first of its kind, would hold at the University of Ibadan from Oct. 16 to Oct. 22.
Among the participants expected at the occasion are relevant federal and state MDAs, international development agencies as well as agriculture and research institutions.
Others are related allied industries, professional advertisers and all related companies and traders from the three key sectors.