Osinbajo Highlights Benefits of SMEs

- Raheem Akingbolu

Vice President Yemi Osibajo has restated the belief of the federal government in the capacity of small and medium scale enterprise­s to stimulate economic activities and provide jobs.

He made the remark as the keynote speaker at the 2021 P&G – BoI SME Academy, where the consumer goods company, Procter & Gamble, in partnershi­p with the Federal Ministry of Trade and Investment (FMITI) and the Bank of Industry (BoI) provided access to training for over 700 SMEs during.

According to the Vice President, “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.”

The plenary session at the academy with the theme: ‘SME Developmen­t and Growth as a Precursor to Nation Building,’ brought senior government and private sector leaders to discuss proven strategies that could be leveraged to drive the growth and developmen­t of local SMEs as the bedrock of Nigeria’s economic developmen­t.

Also, the Minister for Industry, Trade and Investment, Mr. Adeniyi Adebayo reiterated the need to create a favorable business environmen­t for SMEs in Nigeria.

He said: “The Federal Ministry of Industry, Trade and Investment is committed to providing SMEs the required support and trainings 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. We are grateful to organisati­ons like Procter & Gamble for their continuous efforts towards transformi­ng their communitie­s of operations through proactive projects like the SME Academy.”

In his remarks, the Managing Director, P&G Nigeria, Mr. Adil Farhat highlighte­d the need to continuous­ly support SMEs in Nigeria, saying they have the potential to out rightly transform the country.

Farhat added that, “in line with the focus of Nigeria’s economic recovery and growth plan to drive industrial­isation 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 standard, ensure longevity, and facilitate integratio­n into global value chains.

“For over 27 years in Nigeria, P&G has consistent­ly partnered with the Nigerian government to promote strong investor policies and practices that drive inclusive growth, jobs, and welfare of Nigerian citizens”.

 ??  ??

Newspapers in English

Newspapers from Nigeria