P&G, FMITI, BOI empower SMES at 2021 P&G-BOI SME Academy
Leading consumer goods firm, Procter & Gamble (P & G), in partnership with the Federal Ministry of Trade and Investment (FMITI) and the Bank of Industry (BOI), recently trained over 700 SMES at the 2021 P&G– BOI SME Academy. The first day and launch of the Academy took place on the 12th of February 2021.
The plenary session themed ‘ SME Development and Growth as a Precursor to Nation Building’ brought senior government and private sector leaders to discuss proven strategies that can be leveraged to drive the growth and development of local SMES as the bedrock of Nigeria’s economic development.
During his keynote address, Yemi Osinbajo, the Vice President of the Federal
Republic of Nigeria, stated “The Federal Government believes wholeheartedly that SMES are the bedrock of the economy and we are constantly aiming to support innovations that can help SMES grow and in turn groom the economy and provide job opportunities. The government has been working diligently and creatively on engaging the most vulnerable businesses, especially during this current crisis.”.
Also, the Minister for Industry, Trade and Investment, Adeniyi Adebayo reiterated the need to create a favourable business environment for SMES in Nigeria: “The Federal Ministry of Industry, Trade and Investment is committed to providing SMES with the required support and training needed to consistently project their businesses in an upward trajectory. We achieve this through information-driven support vital in building a better playing field for commerce in the entire nation.”
In his remarks, the managing director, P&G Nigeria, Adil Farhat highlighted the need to continuously support SMES in Nigeria as they have the potential to outright transform the country. Farhat added that “In line with the focus of Nigeria’s economic recovery and growth plan to drive industrialization and economic growth through globally competitive SMES, P&G in collaboration with the Federal Ministry of Trade, industry and investment and the Bank of Industry launched the SME Academy to improve their standards, ensure longevity, and facilitate integration into global value chains.
“For over 27 years in Nigeria, P&G has partnered the Nigerian government annually to promote strong investor policies and practices that drive inclusive growth, jobs, and welfare of Nigerian citizens”.
This year’s SME Academy also featured key stakeholders in the industry including Yewande Sadiku, the Executive Secretary/ceo of the Nigerian Investment Promotion Commission(nipc); Bola Adesola, the Senior Vice Chairman for Africa at Standard Chartered Bank; Tara Fela-durotoye, the CEO of House of Tara International; and other experts on procurement, investment facilitation, and access to finance.
Furthermore, in his presentation, the managing director/chief executive officer of the Bank of Industry, Olukayode Pitan, reiterated the importance of the SME Academy especially during this challenging economic situation across the globe.