NIGERIA: FEDERAL GOVERNMENT SET TO CREATE MARKET FOR SMALL BUSINESSES
The Federal Government is set to improve the Small and Growing Businesses’ access to both local and international markets in its drive to boost the growth and development of the sector.
The Minister of Trade and Investment, Mr. Olusegun Aganga, disclosed this during the Market Access Interactive Session organised by the Enterprise Development Centre of the Pan- African University in collaboration with Etisalat Nigeria, in Abuja, on Thursday.
Aganga said, “One of the major challenges that have curtailed the growth of operators of SGBs in Nigeria is access to competitive markets both locally, regionally and globally and several deliberate interventions in the past have not had any significant and sustainable impact.
“Therefore, a new impetus must be generated to expand the market horizon of the SBGs in Nigeria.”
He noted the deliberate usage of SGBs as opposed to SMEs, saying, “Please note the deliberate use of SGBs as opposed to SMEs. This is because for SMEs, the mentality, from now on, has to change from ‘just starting’, to starting and growing businesses. This event is one of those new strategies for confronting this fundamental challenge.”
According to him, the theme of the interactive session, ‘Facilitating Market Access for Small and Growing Businesses’ is aimed at keying the SGBs into the value chain of Large Enterprises for the purpose of empowering and strengthening them to be in the best position to create employment, generate wealth and reduce poverty in Nigeria.
“Specifically, the session is aimed at creating market access for credible SGBs in Nigeria, bridging the gap between Large Enterprises and SGBs, fostering networking and partnership opportunities, enabling local content development and participation in various sectors of the Nigerian economy by SGBs, and creating a platform for structured networking between SBGs, among others,” the minister noted.