Group seek ways to bolster SMEs in Nigeria

Oge Maduekwe, Lagos

A group, under the umbrella of J9 Collective, has held its fourth-anniversary lecture with a focus on how to bolster the Nigerian economy through an increased support of the Small and Medium enterprises SMEs.

The Founder of Leap Africa and the keynote speaker at the Lecture, Mrs. Ndidi Nwuneli who lamented the high rate of unemployment among the teeming Nigerian youths, said that the solution lies in creating entrepreneurial jobs.

The lecture held at the MUSON Centre, Onikan, Lagos with the theme “SMEs, the engine room of the economy: Who’s talking to them?” debated and proffered solutions to burning topical issues affecting the economy of the nation such as dwindling oil prices, naira devaluation and high rate of dollar exchange among others.

In his opening address, the Lagos State Commissioner for Commerce, Industries and Cooperatives, Rotimi Ogunleye pointed out that global economic rule lies on SME’s as a cardinal sector to explore when a nation is in need of growing its economy.

Ogunleye also noted that small businesses remain very critical to the economy with a potential to contribute significantly both to private sector firms and the nation’s Gross Domestic Product.

In the same vein, J9 Collective’s Publicity Secretary, Michael Effiong said that if the SME sector is galvanised in terms of favourable funding, friendly tax regimes and other support services, it would not only boost the economy but move Nigeria closer to its dream of being an economic powerhouse.