…Says SMEs Are Struggling
The Ekiti Chambers of Commerce has called on government to expedite action in ending the rising petroleum prices and insecurity concerns.
The President, Ekiti Chambers of Commerce, Olufemi Hassan stated this on Thursday in Ado-Ekiti.
They also tasked the State government to enhance security measures in the State while calling for more robust and sustained action.
“The Ekiti Chambers of Commerce acknowledges the efforts made by the government to manage the nation’s economic challenges, but wishes to express concern regarding the recent 38% increase in the price of petroleum products. While we understand the complexities of the global economic landscape, this rise places additional strain on citizens and businesses, further complicating the economic environment.
“We recognize the government’s efforts to foster economic growth, but many business owners across Ekiti State are facing unprecedented challenges. The current economic policies, though intended to stimulate growth, have had unintended consequences on the private sector. Small businesses, in particular, are struggling to remain viable, and the broader commercial sector is feeling the effects. We believe that with strategic adjustments, the government can ease these pressures and protect the progress made in recent years.
“Additionally, the security situation in the state remains a pressing concern. Recent incidents, including the tragic loss of lives even after ransom payments, underscore the urgent need for enhanced security measures. We appreciate the steps the government has taken so far, but there is a need for more robust and sustained action to ensure the safety of citizens and to encourage continued investment in the state.
“In this light, we respectfully urge the government to reconsider the recent petroleum price increase, and explore ways to mitigate its impact on businesses and citizens. We also call for intensified efforts to bolster security across the state, ensuring a safe and conducive environment for economic activities to thrive.
“The business community remains committed to working alongside the government in addressing these challenges. We encourage businesses to continue optimizing their operations and adopting sustainable practices that will help mitigate the effects of the current economic situation. Together, we can navigate these difficulties and contribute to the development of a more resilient and prosperous Ekiti State.”