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SMEs as engine of Akwa Ibom’s economic growth
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By Kennedy Mbele
Governor Udom Emmanuel’s plan to make Akwa Ibom State an industrial hub hinges on the existence of a strong and virile Small and Medium Enterprises (SMEs) sector. This explains the attention his administration has been paying to the development of that sector to be able to play its role in the emerging private sector-driven economy.
Economies all over the world depend on SMEs to thrive. In highly industrialised countries, apart from supplying inputs for products manufactured by big industries and corporations, they collectively provide more employment than the former. That is the role they are expected to play in an industrialised Akwa Ibom, hence the special attention the government is giving to the development of that sector. This importance is underscored by the fact that development of SMEs is a major component of the Eight-Point Completion Agenda of Udom’s second term.