South-East leaders converged in Enugu for a workshop on the ECOWAS Trade Liberalisation Scheme (ETLS), where Governor Peter Mbah (represented by his deputy, Ifeanyi Ossai) and Minister Bianca Odumegwu-Ojukwu strongly advocated for major reforms to ensure Nigerian businesses fully benefit.
The core message from the leaders was the urgent need to strengthen access to finance for Small and Medium-scale Enterprises (SMEs).
Deputy Governor Ossai, acknowledging the South-East’s reputation as a hub for traders and SMEs, proposed two critical, pragmatic changes:
* He called for development finance institutions (like the Bank of Industry) to decentralize approval powers away from Abuja, arguing that financing decisions for viable local entrepreneurs should be fast-tracked by regional offices based on “business potential, not collateral.”
* He suggested the establishment of an ECOWAS Commercial Bank to provide funding for regional infrastructure and directly support SMEs.
Ossai also issued a caution, warning the Federal Government to implement policies that protect local manufacturers from being overwhelmed by regional and global trade, citing the disappearance of historic Nigerian industries like Peugeot and Michelin.
Ambassador Odumegwu-Ojukwu described the ETLS as a “strategic pillar” of West African integration and emphasized that Nigeria’s leadership must translate into concrete opportunities for grassroots entrepreneurs. She stressed that economic success depends on how effectively local traders can compete regionally, defining the workshop’s goal as “democratising opportunity.”
The Southeast Chamber of Commerce (SECCIMA) also pledged to escalate the sensitization efforts to its 17 chambers across the region to ensure members utilize the scheme.
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