Flingpord

  The Managing Director and Chief Executive Officer of the Port Harcourt Electricity Distribution Company, Dr Benson Uwheru, has stated that setting up a proper plan is essential to the success of any business. He stated this while lamenting the increase in the number of Small and Medium Enterprises in Nigeria that fail. According to him, proper planning toward achieving growth should not be treated with a kid’s glove. While referencing data from the Nigeria Bureau of Statistics that SMEs contribute to 48 per cent of the national GDP, accounted for 96 per cent of businesses, and 84 per cent of employment, he lamented that 80 per cent of SMEs in the country were not sustained beyond five years in the country. To stem the tide, he suggested that operators should endeavor to gain inspiration from the largest businesses in the country. Uwheru made these calls during the Chartered Institute of Bankers of Nigeria’s 2022 Entrepreneurship Development Programme/Public Presentation of Practi...