Sunday Williams
23 June 2008
The current tariff regime for Small and Medium Enterprises (SMEs) is being worked upon to ensure that varying tax and tariff concessions are granted them, the Minister of Commerce and Industry,Engr.Charles C Ugwu, has said.
The minister said this during the opening ceremony of the Local Government Small and Medium Enterprises Scheme Development's (LOGSAMMES) first Nigerian exportable products international trade fair holding at the old parade ground, Abuja.
Represented by Mrs. Bolu Bolade, Engr.Ugwu said "the initiative is to ensure that SME's are able to provide goods and services that will enable them compete favorably in terms of economies of scale.
He said, "the imposition of high tariffs on foreign goods where domestic industries have comparative advantage would be ensured to offer them due protection. There is no doubt that the SME's sub-sector has a big potential in contributing to the national development of any given nation.Accordingly,this administration's effort to revitalize the SME's is aimed at playing a key role in turning around the fortunes of the economy."
The minister expressed hope that the gains of the trade fair and exposure would enhance government's efforts to achieve greater heights in its industrial pursuit.
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