Trade Ministry vows to support SMEs

The Federal Ministry of Industry, Trade and Investment (FMITI) said it is committed to providing for Small Medium Enterprises (SMEs) the required support and trainings as over 700 (SMEs) benefit from the P&G-BoI SME Academy.

Speaking, the Vice President, Professor Yemi Osinbajo, who delivered the keynote address at the webinar program titled: ‘SME Development and Growth as a Precursor to Nation Building’ said:  “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.

” We thank P&G and BoI for this proactive initiative designed to ensure a better Nigeria.”

In addition, the Minister for Industry, Trade and Investment, Otunba Adeniyi Adebayo reiterated the need to create a favorable business environment for SMEs in Nigeria:” “The FMITI is committed to providing SMEs the required support and trainings needed to consistently project their businesses in an upward trajectory.”

Remarking, the Managing Director, P&G Nigeria, Mr. Adil Farhat highlighted the need to continuously support SMEs in Nigeria as they have the potential of outrightly transform the country.

Farhat added, “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 FMITI and the BoI launched the SME Academy to improve their standard, ensure longevity, and facilitate integration into global value chains.”

Contributing,  the Managing Director/Chief Executive Officer of BoI, Mr. Olukayode Pitan, in his presentation reiterated the importance of the SME Academy especially during this challenging economic situation across the globe.

“The maiden edition was held in October 2019. This second edition and first virtual event has been expanded to incorporate structured trainings.”

Suzan O /VANG