MSME Day: As technology unlocks economic value for small enterprises, By Zeenat Sambo - Premium Times Nigeria

As the world celebrates Micro, Small, and Medium Enterprises Day every June 27, this is a day designated by the United Nations General Assembly to serve as a reminder that small enterprises provide sustainable development goals, encourage innovation, provide livelihoosd to millions, and are essential for the economic wellbeing of any society.is “Resilience and Rebuilding: MSMEs for Sustainable Development.

Additionally, the director general of the Small and Medium Enterprises Development Agency of Nigeria , Olawale Fasanya, also related how the government further plans to focus more on startups in the agricultural sector and women-led enterprises in Nigeria in order to enhance its economic diversification policy.

MSMEs are business entities that have about seventy-five employees or fewer. In addition to employing a large percentage of labour in Nigeria, the sector has also been able to drive inventions leading to an increase in job creation, while also highlighting the important role of technology in economic growth.

Despite numerous challenges such as inadequate working capital, stiff competition from larger companies, difficulties in sourcing raw materials, low capacity utilisation, among other challenges faced by MSMEs, their significance to the Nigerian economy cannot be overemphasised. For instance, the food cart/mobile food business, rental services, liquid soap production, mobile phone repairs, blogging to even the making and sales of plantain chips have, in a way, built online stores with the ability to instantly connect, share information and receive feedback.

To that effect, the untiring efforts of Federal Government agencies like the National Information Technology Development Agency , alongside those of its subsidiaries, have over the years promoted technology for MSMEs and startups by establishing over 1500 IT Centres across the country, where thousands of people can gain basic computer skills to set up their businesses.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside Tella market where over 3,000 cattle sold every market dayTella is a leading market in Taraba State where more than 3,000 cattle are sold every market day. The market is located by River Taraba in Tella town of First Yet the state or local govt cannot reorganise the place to enhance revenue generation? Just imagine the local govt getting a 10% tax from each cattle daily for a year. Chei…it’s saddening, pathetic, 🇳🇬 have too many morons in politics. Including stolen 🐄
Source: Daily Trust - 🏆 13. / 51 Read more »

World Drug Day: Sustain efforts to prevent drug abuse among public officers, CSOs tell Marwa | TheCableTo mark the 2022 United Nations International Day against Drug Abuse and Illicit Trafficking, CSOs have insisted on sustained efforts to...
Source: thecableng - 🏆 2. / 80 Read more »

Uzodimma offers 10-day amnesty to bandits willing to surrender in ImoHope Uzodimma, governor of Imo, has asked bandits operating in the state’s forests to surrender within 10 days and receive an unconditional pardon. He said the gunmen will “face bombardment” Hope_Uzodimma1 Is there any bandit in IMO state.... Oga face Zamfara Hope_Uzodimma1 fulani slave, all the innocent of our youth you killed will hunt you forever, and at the end. we'll capture you alive. Hope_Uzodimma1 Supreme court Gov,Efulefu Uzondifulani,shld first surrender stolen mandate Hes CinC of bandits anytime he and his slave master, Islamist Extremist Ethnic Bigot MBuhari are tired of their games they can stand down the bandits Uzondifulani must eventually be held to account
Source: thecableng - 🏆 2. / 80 Read more »

Day I was thrown out of bus on Third Mainland Bridge – Denrele Edun - Premium Times NigeriaThe 41-year-old media personality also spoke about some of the ordeals he faced growing up in Lagos during the late 1990s.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Democracy day, e-governance and better Nigeria | The Guardian Nigeria News - Nigeria and World NewsTrue democracy comes when the environment encompasses safety, ample economic benefits, free, fair, and trustworthy voting system, as well as the decrease of the hydra-headed difficulties...
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Nigerian Athletics Championships: Final day sees Brume, Edwards defend titles - Premium Times NigeriaBrume's 6.89m leap fell short of her season’s best effort but it was enough to hand her the fifth national title.
Source: PremiumTimesng - 🏆 3. / 78 Read more »