Vanguard MSME Summit: FG harps on partnerships for competitiveness
*Digital economy presents great opportunities for MSMEs — SMEDAN
By Yinka Kolawole, Elizabeth Adegbesan & Prince Okafor
The Federal Government has said it would partner relevant stakeholders to ensure that Nigeria’s Micro, Small and Medium Enterprises (MSMEs) become globally competitive.
Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum, stated this at the 3rd edition of the MSME Summit of the Vanguard Economic Forum Series, yesterday in Lagos.
Her words: “This Summit being part of the private sector initiative towards MSMEs development, further reflects the resolve by the government of Nigeria to enter into partnerships that would make Nigerian MSMEs become globally competitive. While assuring you that this effort is yielding positive outcome, I am optimistic that the collaboration with relevant stakeholders will be sustained.”
The minister, who was represented by John Opaluwa, a Deputy Director in the ministry, reiterated the steadfastness of the Federal Government to continue to formulate and implement policies and programmes that would impact MSMEs, as well as create enabling environment to stimulate domestic investments and attract Foreign Direct Investments (FDIs) in all sectors of the economy.
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Also speaking at the event, Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Wale Fasanya, enumerated the huge opportunities that digital economy presents to the MSMEs sector in emerging economies such as Nigeria.
He stated: “Digital economy obviously presents several opportunities for MSMEs in emerging economies such as ours. On face value, it reduces transaction cost by providing better and quicker access to information and communication between staff, suppliers, markets and network.
“Of significance is the fact that it can help MSMEs integrate into global markets cutting off costs associated with transport and border operations as it significantly enhances the scope to trade services.”
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