Economy

FCTA identifies SMEs as panacea for economic growth

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FCTA identifies SMEs as panacea for economic growth

The Federal Capital Territory Administration (FCTA) has identified small and medium-sized enterprises (SMEs) as an important part of Nigeria’s progress towards economic growth and development.

CTF Minister of State Dr Ramatu Aliyu made the remark during the Nigerian Institute of Sales and Marketing Management induction and awards ceremony Thursday in Abuja.

Aliyu was represented by Mr. Osuji Geoffrey, Director of Inspection, Planning and Monitoring, Regional Council Services Secretariat.

She assured business owners that the FCT administration will continue to reward high impact entrepreneurs who have been very successful in various businesses under the supervision of the Abuja Business Agency (AEA).

The Minister asserted that the AEA remains the vehicle of the administration for the creation of enterprise and wealth, as foreseen by the strategy of economic empowerment and development of the CTF.

She said the FCT administration spares no effort to ensure that MSMEs are not encumbered with challenges of supporting businesses in the territory.

The minister recalled that in more than 10 years of support to businesses within the framework of the CTF, the agency had helped approximately 73,450 people and businesses.

According to her, 90% of those helped are women and young people with essential business support, such as business clinics, access to finance, workspace and market links, among others.

She added that the AEA had also supported 31,100 rural entrepreneurs in 160 communities with capacity building trainings, access to finance, provision of equipment and other critical areas.

“These are just a few of the few accomplishments that the agency has made over the years,” said the Minister.

Aliyu commended the institute for representing thousands of sales professionals from all sectors of economy, industry and commerce.

Speaking earlier, Alhaji Awulu Muktari, chairman in council of the Nigerian Institute of Sales and Marketing Management, said that since the institute was established by an act of Parliament in 2007, he has played a role to advise the government.

Muktari said the advisory role was in formulating policies on trade issues.

Represented by Prof. Yakubu Ochefu, the president said that apart from individuals, the institute also organized in-house training for sales and marketing staff of legal persons.

He said that this staff were the ones who wanted to sharpen the skills of their employees to engage them in a strategic revenue campaign that would increase the company’s profits.

Muktari, therefore, called on legal entities and others to take advantage of the Abuja office, for retraining employees in professional efficiency. (NOPE)

(NAN)

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