Metro
Capacity building, recipe for Nigeria’s economic growth-Amb Olukanni
Ambassador Ayoola Olukanni has described capacity building as the recipe necessary for Nigeria’s sustainable economic growth and development.
Amb. Olukanni stated this at a 3-day capacity building retreat organised by Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) for it Management and Staff in Ilorin, Kwara State.
Olukanni is a former Nigerian High Commissioner to Australia and Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), ROYAL NEWS reports.
Speaking on the theme of the retreat, “Enhancing Institutional Capacity for Greater Impact on the Nigerian MSME Ecosystem,” Amb. Olukanni noted that the theme is most relevant going by the current current economic situation in the country.
According to him, the theme of the retreat underscores the pivotal role that Micro, Small, and Medium Enterprises (MSMEs) play in fostering economic growth, creating employment opportunities, and driving innovation.
He also said the theme acknowledges the essential role that SMEDAN, as a leading agency, plays in the support and promotion of growth of small and medium enterprises.
Amb Olukanni emphhasized that the wheels of the Nigerian economy is kept running by the dynamism of MSMEs. With over 40 million MSMEs employing over 80% of the population, and contributing about 50% of the country’s GDP, hence serving as the backbone of the Nigerian economic structure.
“The ability to adapt quickly to market changes, drive local innovation, and foster entrepreneurship makes the MSMEs a critical force in shaping Nigeria economic future.”
Citing the The 2020 National Policy on MSMSE, which is blueprint for empowerment, Olukanni affirmed that the NSMSE policy is one of the cornerstones of SMEDAN’s efforts in the formulation, and implementation of policies that facilitate the growth and development of the MSME sector.
Noting that the 2020 National Policy on Micro, Small, and Medium Enterprises (MSMSE) stands as a testament to the agency’s dedication to creation of enabling environment for the enterprises to flourish, with special emphasis on micro-enterprises, recognition of their potential to drive growth and employment.
He further said the role played by SMEDAN in the growth of MSMSE cannot be over emphasised in the growth o the country’s GDP. He hence, appealed to participants at the retreat to use the retreat as an opportunity to catalyse the nation for transformation.
He said, ” Let our deliberations be driven by a shared commitment to elevating the Nigerian MSME ecosystem. As we explore pathways to enhance institutional capacity, let us remember that our deliberations and recommendations from this three days Retreat will have ripple effects beyond these walls.
“They can and will spin a wave of initiatives and policies that can and will influence the lives of countless entrepreneurs, families, and communities and our nation.”
Contact: info@royalnews.com.ng