Small and Medium Enterprises SMEs are very important economic catalyst that can help Nigeria become one of the 20 economies in the world.
The Director General Federal Institute of Industrial Research, Mrs. Gloria Elemo made this known during the 2nd Assets export business clinic in Lagos.
Mrs. Elemo pointed out that capacity building is one of the impediments to business growth in the country.
According to her, capacity building include idea, customer engagement, funding, recruitment and government policies among others.
Value addition through empowerment
She says there is the need to empower and rejuvenate SMEs in the country in order to prepare them specially for export.
”Over the years, we have done a lot of research and development into the raw materials in Nigeria in terms of value addition and we have over two hundred and sixty of some of these technologies that can quicly be turned in to exportable materials. So this is what SMEs are encouraging so that more of our people will be foreign exchange earners rather than spending foreign exchange” Mrs. Elemo explained.
Made in Nigeria goods.
The Chief Executive Officer of the African Sustainable SME Trade Solutions ASSETS, Mrs Shade Bembatoun Young said Nigerians should patronise their own products` instead of depending on imported goods.
She explained that entreprenures will do better in their products production if the populace within and outside the country encourage them through massive patronage.
Mrs. Young said that made in Nigeria goods are of high quality and can compete favorably in international markets.
She said the country’s economy will be revived faster if everyone sticks to made in Nigeria goods instead of imported ones and urged entrepreneurs to maintain approved standard.
”There are many people now who are patronizing made in Nigeria products even without knowing its our own product that is to show that our goods are of good standard” she added
An entrepreneur, Mrs Idowu Ali called for more conducive environment to enable them contribute to the diversification plan of the government.
According to her, there are numerous challenges that make doing business in the country very difficult.
She said Small and Medium Enterprises SMEs will thrive better if the environment is more conducive.
Mrs Idowu explains some of the rigours they go through has been impeding their growth and called for more empowerment to enable them do better.
”We need funding for SMEs and we need basic infrastructrure. If government can create an investment hub like the free zone and have a production centre where the government for the entrepreneures in thr country, SMEs will thrive better” she added.
The business experts lauded the organisers for the business clinic saying it has opened their eyes on the capacities in the packaging and exportation of non oil products and services to regional and international market.
The event featured an exhibition where all research and development products and technologies were showcased.