NDE showcases gains of informal sector, trains 30 artisans

The Director General (DG), National Directorate of Employment (NDE), Dr. Nasir Mohammed-Ladan has said the informal sector of the economy is key to economic development.

The DG made this disclosure at the opening ceremony of the training for 30 artisans in Basic Business Training (BBT) in Abeokuta, Ogun State.

He said, “Most of developed nations of the world did not achieve economic prosperity because of the large corporations that exist therein, but through the small business based in the informal sector that provide employment for the majority of their populace.

“It is for this reason that the NDE encourages the establishment of small businesses which have the potential to end up as big entities depending on the commitment business at owners.”

The Basic Business Training (BBT) scheme, it was stated, is taking-off in 12 states, with two from each geopolitical zone. The 12 pilot states are to produce 360 trainees as each state will produce thirty participants.

Mohammed-Ladan noted that the sector had recorded significant contributions, which has been among others, stimulating the market economy, promoting flexible labour markets, stimulating productive activities and absorbing retrenched labour from the formal sector.

“Therefore, the role of the local barber, shoe shiner, cobbler, hairdresser, fashion designer and similar players in the economy cannot be disregarded. After all, the small time barber can become a conglomerate tomorrow,” he noted. of the