The Senator representing Abia North Senatorial District, Orji Uzor Kalu, has called on the Federal Government to create a special bank for the hospitality industry to enable business owners have access to loans.
Kalu made the call in Abuja during the opening of a new branch of Tastia Restaurant and Bakery on Friday.
The lawmaker stressed the need for more entrepreneurs to be encouraged to support the Small and Medium Enterprises, SMEs, in Nigeria.
He urged hospitality industry players to drum up support for legislation that will protect their businesses.
According to him, the establishment of a bank of hospitality would give more access to both old and upcoming hospitality industry players to get better loan facilities,
He noted that people who are taking unemployed youths out of the streets, and promoting entrepreneurial activities in the country need to be encouraged and supported.
“We need to come up with new legislation to encourage entrepreneurs and protect their businesses. Government should also consider setting up hospitality bank to provide more access for those in the hospitality industry to get a loan.
“When you have access to cheap money, you can do more and create a better environment for them to invest more money in the hospitality industry,” he said.
Kalu further stated that Nigeria needs more laws to improve the business environment, which will foster deeper investment, both local and foreign.
On his part, the Proprietor of Tastia Restaurant and Bakery, Kester Agwu, called on the incoming government to initiate deliberate policies for the growth of entrepreneurship in the country.
Agwu disclosed that his commitment to the hospitality industry over the years has resulted in taking about 1000 Nigerians out of the labour market.
He added that he has continued to expand the business to support government’s efforts at reducing unemployment in the country.
Also speaking, a regular customer to the chain of Tastia Restaurants, Esther Oyinola, expressed excitement at the opening of the new branch.
Oyinola described the environment and food at the restaurant as simply amazing.
“I came to be a part of this beautiful opening. So since morning I’ve been around testing the food from one department to the other, trying to give my own vantage opinion,” she said.
