By Rev Richard Peters & Elder Uko Umoh


There is no gainsaying the fact that Small and Medium Scale Enterprises (SMEs) play a strategic and vital role in the economy of any state. they contribute immensely to stem the tide of unemployment by creating opportunities for peo[le to make ends meet.

To this effect, the Central Bank of Nigeria (CBN) access the Small and Medium Scale Enterprises (SMEs) as business with huge turnover of more than N100 million per annum with less not less than 300 million workforce. Small and Medium Scale Enterprises stimulate the economy through creation of jobs, initiating ideas and raising competition in the sector.

SMEs play a significant part in the modern economy by proving to be the most attractive and tremendous innovative system that drives the economy of developing countries. In developed countries, 98 percent or more belong to the Small and Medium-scale sector. In Japan, for example, 80 percent of the industrial labour force is employed by small firms, while Germany has 50 percent. USA is said to have 46 percent employed by small and medium scale enterprises. SMEs are the mainstay and prime contributors to employment, economic and export growth of developed economies.

SMEs constitute a huge percentage of businesses in Nigeria. Its contribute a greater proportion of the country GDP and employ a reasonable number of Nigerian workforce. The Nigeria Bureau of Statistics indicated that Small and Medium-scale Enterprises (SMEs) in Nigeria has contributed about 48% of the national GDP. With a total number of about 17.4 million, SMEs account for about 50% of industrial jobs and nearly 90% of the manufacturing sector, in terms of the number of enterprises.

Research on SMEs in Nigeria conducted by the National Bureau of Statistics (NBS) in collaboration with SMEDAN indicated that the SME in Nigeria is capable of absorbing up to 80 percent of jobs, improve per capita income, increase value to raw materials supply, improve export earnings, enhance capacity utilization in major industries and unbundle economic expansion as well as GDP growth.

In Akwa Ibom State, Governor Udom Emmanuel has risen to his profession as somebody who has a broad idea of creating a self-sustaining, economic-driven system for his people by attracting money-spinning industries to boost the economic base of the state. He has provided the enabling environment and atmosphere for the likes of Small and Medium Scale Enterprises to thrive with relative ease. As a well equipped player in the financial sector with massive experience that spanned over decades, the Governor understands that the task of changing Akwa Ibom State status from a purely civil service state to one that could be economically self-sustaining. To him there was the need to have a strong industrial direction and vision. Thus, he started by creating an enabling environment for the industrial revolution in the state by providing the enabling infrastructure such as roads, electricity, and others.
To buttress his earlier promise to the people as a Governor of Akwa Ibom State on industrializing the state, Governor Emmanuel established and commissioned the Metering Company and Syringe Factory three years into the First term of his administration. The metering company has remained a major manufacturer of meters for power distribution companies in the Niger Delta region. Also, the Jubilee Syringe Manufacturing Company has the capacity of producing 400 million syringes annually. The company is presently the biggest in Africa, in terms of production capacity and size.

He did not stop there, he constructed the flour mill to meet the demand of the community and its environs. The 500 metric tons capacity flour mill has the potential of creating over 1000 jobs for our teeming unemployed youths. The Akwa Prime Hatchery and Poultry at Uruan is another source of revenue generation. It is one industry that has created employment directly for so many families in the State.

Governor Udom has established cottage industries across the State to raise the bar as far as governance is concerned. His administration has empowered the youths of Akwa Ibom State to take farming of cucumber, lettuce, pepper, tomato, and okra, especially from the Green House technology which is cultivated in all farming seasons, as lucrative business and this gesture has yielded positively by creating employment for the greater number of our youths in the State.
Gov. Emmanuel’s business acumen has led to the establishment of other life-touching and far-reaching industries such as the Paper and Pulp Industry, Plastic Manufacturing Company, and Hydro Form Block Molding Company. Greenwell Technologies, a fertilizer blending company, these industries have taken our teeming youths out of the street by providing them gainful employment.

To reel off policies that will help fight hunger to a minimal conclusion in the State, Udom’s government has taken advantage of the growing worldwide demand for cassava to establish 33 new cassava processing plants in different parts of the state, while also investing in the refurbishment of existing plants at Ikot Okudom, Eket Local Government Area; Nung Udoe, Ibesikpo Asutan Local Government Area and Ikot Ekang, in Abak Local Government Areas. In view of all this, and to cap it all, several people in the State are currently engaged in small and medium enterprises as beneficiaries of the government's economic and industrialization policies drive aimed at promoting entrepreneurship among the people. This is why the governor, while giving account of his achievements in the first term of his administration said, "We came determined to rapidly industrialize this State and create employment opportunities for our teeming youths. On that score, we have achieved a lot and are rearing to do more. To date, we have established over 16 industries, most are fully operational, while others are at various stages of completion. Our youths have been gainfully employed in those industries and the value-chain has ensured steady income to our people".

As part of efforts to revive the state economy, Governor Udom Emmanuel has ordered the reopening of SMEs, Markets and all related business outlets to enable people go about their commercial activities.

The reopening which has in no small measure given the average Akwa Ibomite a sigh of relief, has as well provided and enhanced trading activities courtesy the production and distribution of face masks and hand sanitizers.

It is a fact that every sewing outlet in the state has become a producer of cloth face mask - an indication that people of the state are ready to support the state government in the fight against the global dreaded scourge.

To this effect, Governor Udom Emmanuel has laid a solid foundation for the growth of Akwa Ibom economy by stimulating and supporting the growth of small and medium scale enterprises in the state. The Governor has determined to open the state economy through SMEs. This is why the development and expansion of Small and Medium-scale Enterprises in the State formed part of the cardinal policy thrust of the Completion Agenda of Governor Udom Emmanuel.

Worth the long read.