Former Abia State governor, Senator Orji Uzor Kalu has advocated a special bank and legislation for the development of Small and Medium Enterprises in Nigeria. Kalu spoke at the weekend in Abuja when he inaugurated a new branch of Tastia Restaurant and Bakery in Wuse 2, Abuja. He said more entrepreneurs need to be encouraged to create more jobs for the unemployed youths.
He stated that establishment of a bank of hospitality would give more access to both old and upcoming hospitality industry players to get better loan facilities, while special purpose legislation will protect the interest and businesses of young entrepreneurs. According to him, people who are taking unemployed youths out of the streets, and promoting entrepreneurial activities in the country need to be encouraged and supported.
He said: “We need to come up with new legislation to encourage entrepreneurs and protect their businesses. Government should also consider setting up a hospitality bank to provide more access for those in the hospitality industry to get loan”. He further stated that Nigeria needs more laws to improve the business environment that will foster deeper investment, both local and foreign.
Also, the Proprietor of Tastia Restaurant and Bakery, Kester Agwu said the incoming government needs to initiate deliberate policies to grow entrepreneurial ventures. Agwu disclosed that his commitments to the hospitality industry over the years have resulted in talking about 1000 Nigerians out of the labour market.
He added that he has continued to expand the business to support the government’s efforts at reducing unemployment in the country.