Subsidy Removal: Group calls for palliative for MSMEs

A socio-economic group, Team Support Nigeria, has called on the Federal Government to provide palliatives in the form of soft loans, cash transfers, and others, for small business holders, and vulnerable Nigerians to cushion the present pressure occasioned by the removal of fuel subsidy.

The group expressed its readiness to support President Bola Tinubu’s transformative agenda to engage the socio-economic System of the country.

The group whilst lauding the new administration on policies to address the foundational issues that have over the years hindered the country from achieving its potential; declared their unwavering support for any policies that would be beneficial to Nigerians.

Coordinator of Team Support Nigeria, Chidiebere Onwumere who said the steps taken by the new administration including the fuel subsidy removal has brought some financial difficulties for Nigerians, noted that it is still a welcome development that would help alleviate the challenges of Nigerians.

“However, research shows that the highest percentage of revenue generation in Nigeria is from small business holders and this sector is at great risk of many unfavorable policies that frustrate the ease of doing business such as double taxation, lack of power, access to finance, and many more.”

“Also, before the implementation of the proposed electricity hike, the government should make solar energy accessible and affordable for all while the nation is trying to adjust to the realities of the effect of the removal of fuel subsidies,” he said.

Mr Onwumere encouraged the President to nominate competent persons as Ministers of the Federal Republic of Nigeria, to ensure that  affairs of the State are in capable hands by considering an economist with the requisite knowledge and background to pilot the affairs of the Apex Bank.

“The Team will continue to render its support to the new administration; having the belief of great hope that Nigeria will arise and shine again,”
he added.

Team Support Nigeria is made up of  young Nigerians, Entrepreneurs, Business People, and Professionals saddled with the responsibility to network and collaborate with every agency of Government, the Private sector, and the International community to enhance growth and development in Nigeria.