Expert Urges Govts To Support Informal Sector With Infrastructure

A Professor of Strategic Management and Entrepreneurship, Prof. Abdul-Hammed Sulaimon, has called on both Federal and State Governments to provide adequate infrastructure and soft loans to support the informal sector in the country.

Sulaimon, a Lecturer in the Department of Business Administration, University of Lagos, made the call at the International Conference 2021 organised by the School of Management and Business Studies, Lagos State Polytechnic in Lagos on Friday.

The News Agency of Nigeria (NAN) reports that the theme of the conference was: “World Economy: Reality and Uncertainty of Global Market in Pandemic Era”.

He said that the informal sector was currently the highest employer of labour in the country and the only support governments could render was to provide adequate infrastructure.

“In terms of economic infrastructure, an average Nigerian is ready to work and face any challenge without any support from the government.

“Even during the outbreak of COVID-19 pandemic, people were innovative by producing indigenous hand-made face masks.

“Some people lost their jobs in 2020. In spite of that, they started creating and producing goods and services which yield profits to them now.

“Some Nigerians still need to wake up and face economic challenges which resulted from COVID-19,’’ Sulaimon said.

Dr Oluremi Olaleye, the Rector of LASPOTECH, said that the conference was a wake-up call for people in academia and industries to improve their entrepreneurial skills and work harder to return the economy back to normal after the COVID-19 pandemic.

Olaleye said that the education sector had been fully back in Nigeria and also virtual learning was supporting the education system.

Mr. Isaac Faseyiku, the Dean, School of Management and Business Studies, LASPOTECH, said that the aim was to analyse the positive and negative effects of COVID-19 on the Nigerian economy.

Faseyiku said that since the country was still in the midst of the COVID-19 pandemic, the economy needed to be addressed, particularly in Lagos State.

“More than 50 lecturers will be presenting papers on issues relating to the Nigerian economy and COVID-19 pandemic,” he said.

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