Business Failure Rate in South East Alarming – ECCIMA President

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New president of the Enugu Chamber of Commerce, Industry, Mines and Agriculture, ECCIMA, Rev. Surveyor Ugochukwu Chime has expressed worry over the rate business owners are closing shops in the South-East zone of Nigeria.

Chime, who spoke on the occasion marking his installation as the new president of ECCIMA and the induction of over 25 members in Enugu, said “the rate of business failures have so much accelerated that it has induced fear into investors, especially local investors who do business without the economies of scale being enjoyed by multi nationals.”

While identifying the various challenges standing before his leadership, he observed that revenue accruing to the various levels of government in the country had in the past two years reduced by over 50 percent, stressing that ‘this has resulted in its inability to run government and execute capital projects effectively.”

“We are faced with over 60 percent unemployment amongst the youths, with the school leavers being the worst hit, leading to anger, frustration, high rate of crime and insecurity of lives and properties

“It is now easier and faster for global socio-economic challenges to affect our people in the remotest part of our villages, resulting in what they do not know, affecting and devastating their means of livelihood”, he further stated.

The ECCIMA President, however, assured that with his team, the ECCIMA under his leadership would focus on human resource development, membership and development, promotion of commercial agriculture, industrial training and entrepreneurship.

In his speech at the event, Governor Ifeanyi Ugwuanyi commended the Chamber for her achievements, particularly the cordial relationship between the Chamber the organised private sector and the government and people of Enugu state, which he said had boosted entrepreneurship, poverty eradication strategies and skill acquisition in Enugu State.

The Governor, represented by the commissioner for commerce, Mr. Sam Nwobodo, admonished the new ECCIMA President Ugochukwu Chime, who is also the National president of Real Estate Developers Association of Nigeria to use his wealth of experience, contacts and expertise to pilot the affairs of the Chamber.

He promised to make policies that would create good working environment and incentives to stimulate investors from within and outside the State.

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This post has already been read at least 11894 times!