CBN, let the industries and SMEs survive. Nigeria money is meant for all

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Where is Michelin Nigeria ltd today? It has disappeared. Can’t we have it back? Is it impossible? This was a company that employed close to 3000 Nigerians with several more on contract or as contractors. What happened to Dunlop? It is in Ghana. Can’t we bring the company back too? We are talking about thousands of Jobs here. It is possible I tell you.


How come Chief Razak okoya (Owner of Eleganza) closed down almost all his factories?  He has turned many to rentable warehouses. With that, we have thousands of jobs out of the window. What can be done to encourage such an individual to come back with his industries? Nigeria needs such effort.


You have PZ cussons Nigeria ltd. It is producing far less in capacity than what its used to. What can be done to bring it back to former glory? It has factories in Ilupeju, Ikorodu and Aba. All the factories are “crying” to produce. They all want to pump the market. However, it is not so. The company needs to be pumped up. The factories must work. You know Levers brothers has taken off to Ghana as they no longer produce here. We need them to produce here. We need their factories and we need them urgently.

Coca-cola Nigeria should not be allowed to close shop. They must continue working. They must be helped to do so. Same for chi industries(Chivita people). They must be encouraged to grow bigger and better. Same for many factories that are about to close down or downsize. We are talking about thousands of jobs in such instances.


I have a friend called Akorede Yusuf in Ibadan, he is a farmer. He has some guys working for him and he needs a bearable loan to help his business. However, it’s been difficult for the banks or any institution to help him. This is not funny. Why is it difficult to help small and medium enterprises? Why? These are the people that need the loans. The system needs them to be really engaged.

I can go on and on….. It is a fallacy to tell me that we don’t have money for them. It is nonsense to tell me that they can’t be helped because of power problems or infrastructural issues in Nigeria.  If coscharis could go to the bank and borrow 21 billion naira for the sole purpose of “ dashing” Ifeanyi Ubah without any consequences, then they can get too. Yes, check their(SMEs) businesses but help them to grow.

If Sambo Dasuki could just “pai” US$2.9 billion(720 billion naira) of arms deal money, what are we talking about? If he could just share the money amongst people who can conveniently call themselves “rich men”, what is the point? If 20 billion dollars could just disappear without a whimper, then what is the issue?  There are still more money that have been wasted  that I believe we don’t know yet. The money we need to revitalize and “jack-up” many of these industries would be far less than what has been  “wickedly whacked” so far.

The other day 300million naira was stolen(Nov 20 2015) by DSS agents from what I believe would be billions. The billions were obviously not going for what will benefit all of us. What is wrong with us? Do you know what just 2 million naira would do for Akorede Yusuff in his farming business? Na wa o!!

Someone should tell the CBN that this is the time to stop “dashing billionaires” money.  The billions in the banks are not only meant for big people to share. This is the time to face the industries and small and medium scale Enterprises to survive.


Stop the death of factories. Stop the death of small and medium scale Enterprises.  Leave all the grammar and get really down. If you have money to give the elites then you must have the same money to give(as loans) to other enterprising Nigerians.

We need to get the real people back to work. It is for everyone’s good….Ewolewooo!!!




About the author / 

Ik Uremeh

Ik uremeh is a social commentator who believes that everyone deserves to live within the confines of his strengths. He is just like YOU.He says: Life is good when everyone desires so...

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