The Lagos State Deputy Governor, Kadri Obafemi Hamzat, has charged entrepreneurs on the growth and establishment of more Small and Medium-scale Enterprises (SMEs) by entrepreneurs to bankroll their business ideas. In a special address delivered at the 4th annual FATE Foundation conference in Lagos, recently, Hamzat said that the presence of SMEs remains the machinery that drives any viable economy.
According to him, 85 per cent of businesses in the state is in the private sector, thus; the state is willing, ready and able to support any feasible business idea through its Lagos State Employment Trust Fund which has already empowered over 49,000 SMEs in direct loan of different sums. “We have about 2.3 million SMEs in Lagos and still need more business ideas with a clearer structures and branding for funding. So, if you have brighter business ideas, please share with us,” he said.
More so, he called for the reorientation of the Nigerian youths to restore sanity in the country which should be done through institutions like the family and educational systems. His words: “Our family systems and moral values are broken alongside our education. We implore parents and teachers to live up to their responsibilities, by inculcating the right substances our children need to function right anywhere in the world.
“Teachers and lecturers must not fail over their students. All hands must be on deck to bring back our children, especially the youth to the right track for the betterment of our country,” he said.
In his keynote address, the Chief Executive Officer, SLOT Systems Limited, Nnamdi Ezeigbo, posited that unique branding and business integrity remained the foundation upon which SMEs could soar, saying that entrepreneurs who have distinctive qualities the market sought for can be sure of survival, no matter the harsh temperature in the business world.