Economy
INDUSTRY experts have urged state governments in the Niger Delta region to embrace the global growing trend of digital economy, and set aside funding to support the growth and sustainability of Micro Small and Medium Enterprises (MSMEs).
The call was part of resolutions reached at the end of the 4th Niger Delta MSME Summit/Bootcamp in Port Harcourt, Rivers.
Dr Martins Fregene, Director of Agriculture, African Development Bank (AfDB), said in a communique of the summit that young MSME owners should pursue skills on how to access funding and financial management.
Fregene said that many lending banks hesitate in giving loans to MSME owners based on a number of issues, including lack of clear tax record.
“Some of these banks are willing to lend money to MSMEs but they are afraid that they may not pay back,” he said.
Amb. Joe Keshi, Director-General of the BRACED Commission, comprising South-South States, decried the lack of government presence and support for platforms such as the Niger Delta MSME Summit, established to build a culture of entrepreneurship among young people.
Keshi who was at the event as a Special Guest at the 2024 World MSME Day, said sooner or later, people would depend on businesses as the government would not be employing people anymore.
While reeling out recommendations to grow MSMEs in Nigeria, Otuya Okecha, CEO of Fibresol Nigeria Limited, urged state governments and intervention agencies to create tech hubs to address digital illiteracy among MSME owners.
“Over 60 per cent of the Niger Delta population are young people; state governments must embrace Digital Stack Models to gather data of citizens.”
Moses Siasia, Chairman, Heritage Times, regretted that in spite of being the main economic mainstay of Nigeria, a lot was not happening in the Niger Delta region to empower young people.
“This is a purely private-sector initiative. We have done this for the past four years and have seen the impact; we will continue.
“Over the years, politicians have nourished young people in the Niger Delta region with failed promises.
“Leaders must deliberately create an atmosphere to give the young people hope and a voice, but we will no longer wait for the government.
“This initiative shall be sustained with the few strategic partners that have encouraged us over the years and we must begin to create opportunities for young people,” Siasia said.
He commended the Niger Delta Development Commission (NDDC), Bank of Industry (BOI) and others partners for their consistent support to the Niger Delta MSME Summit over the years.
Gerald So-George, Coordinator, Niger Delta Young Professionals (NDYP), the organisers of the summit, noted that the initiative had empowered over 2,604 individuals with personal grants.
“People also benefitted from the 2020 COVID-19 Fund, NCDMB loans and CBN Agric Loan Scheme.
“Approximately 1,820 businesses have benefited, creating a cumulative total of about 8,319 direct and indirect jobs.
“This underscores the significant impact of our collective efforts and the potential for even greater achievements.”
Summy Francis, President, Africa’s Young Entrepreneurs (A.Y.E.), urged young entrepreneurs at the summit to always strive to grow in business, noting that failure to adapt would amount to failure to grow.
“We are in times of innovation and technology. While you are busy complaining that Nigeria is hard, do you know how many people are making money?
“Entrepreneurs are the ones to work hard to increase the value of the naira for the dollar to drop,” he added.
The 2024 Niger Delta MSME Summit/Bootcamp with the theme: “Building a Culture of Entrepreneurship and Self-reliance Beyond Oil”, had over 1,000 participants across the Niger Delta region.
The summit also had strategic panel sessions where panelists shared ideas on how to raise funds for their businesses and how partnerships can push the growth of agriculture. (NAN)
F.A
June 29, 2024
Tags: Niger Delta World MSME Day
