NBCC, regulatory authorities collaborate to enhance MSME efficiency

Fri, Oct 6, 2023
By editor
2 MIN READ

Politics

THE Nigerian-British Chamber of Commerce (NBCC) has collaborated with some regulatory agencies to enhance business efficiency and drive development of Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

The President of NBCC, Mr Ray Atelly, on Friday in Lagos, via a statement, said the collaboration was done at the second edition of the chamber’s MSME Business Optimisation Clinic.

The News Agency of Nigeria (NAN) reports that key government agencies that partnered with the NBCC include Standards Organisation of Nigeria (SON) and Bank of Industry (BOI).

The others are National Agency for Food and Drug Administration and Control (NAFDAC) and Nigeria Export Promotion Council (NEPC).

According to Atelly, the agencies are critical overseers of activities of the industrial sector, to which MSMEs belong.

He noted that MSMEs played a pivotal role in the economic development of a nation as the backbone of any economy, providing employment opportunities, fostering innovation and contributing significantly to Gross Domestic Product (GDP).

The NBCC president urged key stakeholders to continue to provide extensive assistance to enable MSMEs to thrive.

“It is, therefore, incumbent upon us, as key stakeholders, to empower and support these enterprises in every way possible.

“Our goal is simple but powerful – to equip our MSMEs with the knowledge and tools they need to thrive in today’s dynamic business environment.

“They must henceforth be well-furnished with the expertise and resources required for success in the ever- evolving business landscape of today,” he said.

Mallam Farouk Salim, the Director-General of SON, said that the agency would continue to provide initiatives that would enhance expansion of MSMEs.

Salim was represented by Mrs Phebean Arumemi, Head, Small and Medium Enterprises Desk of SON.

He said that the Federal Government had given MSME operators the responsibility of integrating themselves into the SON-enabling business environment to accelerate expansion.

Mrs Udo Okonjo, Chief Executive Officer, Fine and Country, West Africa, said that there was the need for a robust and adaptable business model for MSMEs.

She urged MSMEs to provide exceptional and optimised products or services and adequate expertise in wealth and financial management.

“Transformative leadership and team collaboration, as well as comprehensive strategies for overall expansion, are very critical for the growth and development of MSMEs,” she said.

NAN reports that NBCC is a foremost bilateral chamber of commerce in Nigeria with the objective of promoting trade and investment between Nigeria and Britain.(NAN)

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-October 06, 2023 @ 17:45 GMT |

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