 Welcome back. It's time for a second hot topic. I want to take a look at the cost of building and running a business. We've been joined by Comrade Prince Xavier Iche, he's a national president, Association of Micro-Enterpreneurs of Nigeria, Lagos State. Prince you're welcome to the program. Well I just realized recently, especially cut C of the ILO, that SMEs in Nigeria contribute 48% of the national GDP and that it also accounts for 84% of employment. That is a lot, isn't it? Yes. However you do have, well you are experiencing operational challenges and struggling to stay afloat. Talk to us about these challenges and how that can be helped. Thank you very much. You have already said that 48% of the big sector contribute on the economy. The truth of the matter is Nigeria, micro-interpreneurs of Nigeria are going through a lot of issues. The government have neglected this sector for a longer time. That is why we are having set us off challenges, especially in the area of employment because this is the only industry that has the capacity to employ a massive unemployed. But on the basis, this sector is going down on the basis. One of the problems we have is the people that are ought to be on the affairs of the affair of this particular industry. They are bringing people that doesn't have experience in what is this, you know that's in running industry. You can't just go and bring an engineer and make him to be a minister of an industry. It is because of these people don't have the knowledge, what it takes, what the micro-interpreneurs are facing, going through what is happening in other countries. The micro-interpreneurs in other countries get what they call soft loan and grants. Nigeria, micro-interpreneurs, we are the one that is sourcing our own money. There is no power. We are the one that is bringing our own alternative power. So with all these things you can see that the government have neglected. That is why Nigeria, you know, at this point we are seeing the highest number of unemployed people in the world. It's not supposed to be so. Micro-interpreneurs of Nigeria, we have the capacity to challenge the, we have been our product in our countries. So the problem we are facing is, in fact, cannot be quantified, you know. We cannot be quantified. So on this it is in fact as a leader and also as an industrialist. I go to the market every day like most of my members. We source the same money like some of my members. Before now the number of micro-interpreneurs that have thrown in the towel is cannot be quantified. On that basis micro-interpreneurs are falling off and as they are falling off, they are falling off with their workers. Pushing the workers to the existing labour market. Most of our members wear the essential environment. What the role of the Bank of Industry has been? How have you interfaced with the Bank of Industry? What role are they playing in your sector? Let me tell you the truth. Yes. Micro and Bank of Industry, we have approached Bank of Industry for a longer time. And the Bank of Industry are not for people like us. I'll give you instance. I've known there, some of my members have went there and were being thrown down. The conditions they are giving to micro-interpreneurs are the same conditions they are giving to a multinational company. So we cannot be able to access their money. We cannot be able to access their money. It's a record of even challenging them. Let them come out and tell Nigerians probably the names of the people that are giving loans. Most micro-interpreneurs are not there. We are not there. We are not in their calendar. Actually let them probably be their name. We have approached them with that number. Their conditions are so rigid that we cannot be able to meet their conditions for them to give us loans. People who don't even have business, they are giving them the money. I have my facts. I'm a figure. I also applied. They gave me nothing. That is why I'm calling on the... I always advocate that the government should establish what are called micro-interpreneurs banks. Let it be established in all commercial banks. Where a micro-interpreneur can work in to a commercial bank, where would they have our data? They can be able to access us and give us loans. For back of industry, they have disappointed micro-interpreneurs. Well, this is shocking. This is a very shocking revelation you are giving. Because when you go to the website of the bank of industry, you find them saying that, written very clearly there, that they provide business support for large, medium, small, and micro enterprises. But here you are telling us firsthand your own experience and the experiences of members of your association. Now, you have a strong association. I believe the association of micro-interpreneurs of Nigeria is strong enough to push a case. How far have you gone in pushing a case for your people? Okay. Let me say this on the national television. About nine years ago, back of industry come out to its 2 million lira loan for my members, micro-interpreneurs. I'm talking of my members now as association of micro-interpreneurs of Nigeria. I also applied at the end of the day because of the rigid condition I stopped. Some of my members continue. They meet all the categories, pay the 10% of the amount. They have done all the things. They were giving up a letter. For eight months, the money was not given to them. That brought me to lead a process against back of industry. The process started from national stadium to zero under bridge. When they noticed that I have done a press conference, they gave me up a letter of 4.2 million. Remember, I have not completed my documentation. I refused the money and I make sure that all my members got the money and I profited my own. This is the record. Google my name, go to the internet and Google my name. Google what they said about back of industry is there. I have challenged them. I have even called an EFCC to prove that. Did EFCC respond? They are not respond. What were these conditions that were given? You said EFCC did not respond. You repeatedly talked about the stiff conditions given to the people in your association. What are they, the stiff conditions that are not supposed to be given to your group of business people? Okay. We asked micro-interpreneurs. Okay. I don't know if it's the rain, but we have been a bit of challenge just as we did yesterday with the network. I hope he's able to connect back and continue with this conversation because this is very germane indeed. The micro-small businesses are the backbone of any functional economy and we cannot afford to have them. Hello? Yes, I was just saying that small businesses are the backbone of any functional economy and we cannot afford to have you going through any kind of challenge that was tied for you or growth. So talk to us about these unreasonable conditions that were given to your small enterprise group. Our reasonable condition is that back of industry, let me put it to the world, to Nigeria. But back of industry, what they give, they only give machine. They will ask you to go and get machine. They will even tell you where to get the machine. They don't give you money except they tell it only. What they will ask you to do is to get machine at at least 82% you get machine, you get the raw materials, raw materials. The back of industry will not give you money. And they will ask you, we don't know, somebody that needed 2 million Naira to start business. They will ask you to go and get machine of like 1.6 million Naira machine. We told them that we don't need machine. We need a running capital, not machine. Because at our own level, we have not grown to the extra of using machine. We use manual, manual, you know, that mix up. And most times, if we ask them to give us the money for machine, let us go to local fabricators and some of our members that are into local fabricators of that machine. They will direct you to a place to go. And again, if you go to back of industry, they have their agency, they have their consultant where they will direct you to go so that the money will come out easily. And the second consultant will charge you about 20% of the money you want to collect from back of industry. That is one of the conditions. I can say anytime I'm ready to face any back of industry which fights on figures that will come and tell us that they don't name the people that give the money. How can you ask them? Okay, for instance, in December 9, I started my own business with 20,000 Naira go roads. They have some of our members who are in the same capacity. All they needed is 100,000 Naira. And we have even told back of industry is the federal government. What to the associations? We know our capacities. Some of our members need 200,000 only to start business. Even that 200,000 Naira, in the next month, we're going to check the results we will get. Well, Comrade Prince Sevill, H.A., it really saddens me to hear all these challenges that micro-interpreneurs are facing in Nigeria. And I do believe you because you are the president of the association. And so your facts cannot be questioned. And you're saying, quote me, go and check the facts, check them out. And you said you've asked the EFCC to also step into the matter, but EFCC has not responded yet. Well, I can only encourage you to keep pushing. You definitely arrived somewhere. Hopefully in the near future, you'll be able to get the solutions that you need because your sector is critical to the economy of this country. Thank you so much. Perhaps some other time will come and find out how far you've gone in your push for success for your association. Thank you so much for your time. This is the much we can take on this morning. Comrade Prince Sevill, H.A., National President Association of Micro-Entrepreneurs of Nigeria, Lagos State has been our guest on Hot Topic 2 this morning. We'll take a break and come back and let you know what's happening in the world of sports. Stay with us.