Adaobi Rhema Oguejiofor
The Abuja Chamber of Commerce and Industry (ACCI) has asked the Federal Government to provide Small and Medium Enterprises (SMEs) with business palliatives in order to ease the pressure that comes with the removal of fuel subsidy, saying that the removal will have negative effects on SMEs if it is not properly managed.
This was contained in a statement that was released in Abuja on Monday by the President of ACCI, Dr. Al-Mujtaba Abubakar, on behalf of the Executive Council and members of ACCI, in which he commended the Federal Government for the removal of fuel subsidy but urged them to provide SMEs with business palliatives in order to ease the tension that comes with the action.
According to him, although the removal of the fuel subsidy may seem to be a right step in the right direction because it deregulates the oil sector and allows for competition in the industry, the government should provide palliatives.
In his own words, “if this is properly implemented, it will provide cushion for the effect this immediate removal will have on small business owners.”
He also said that ACCI would be available to work with the government in gathering the support the SMEs will need in order to alleviate the pressure the subsidy removal may have on their businesses.