The House of Representatives has called on the Federal Government to allocate N350 million in the 2026 budget to revive moribund industries and support small and medium-sized enterprises SMEs across Nigeria.
The resolution followed the adoption of a motion moved by Hon. Akarachi Amadi, who represents the Mbaitoli/Ikeduru Federal Constituency of Imo State.
Amadi noted that several formerly thriving industries across the country have collapsed or become inactive due to poor power supply, high interest rates, and weak infrastructure, leading to job losses and economic decline.