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FG TO DRIVE THE ECONOMY THROUGH MSMEs

59 views · Published 22 June 2017 · 2:07 · Indexed 20 September 2026

Channel: NTA Network · 2017 · People & Blogs

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Capacity building and finance are two major challenges impeding the growth of the micro, small and medium enterprises in the country.
In addressing this challenge, the federal government in partnership with the World Bank and the department for international development, DFID introduced the growth and employment project.
Finance and economy correspondent, Seun Ogunluyi reports. 
Unemployment is a global phenomenon, piercing through many economies, particularly third world countries including Nigeria.
With an unemployment rate of 14.2 percent as at fourth quarter of 2016, the federal government has been working hard to find measures at bringing down the figure.
The growth and employment, gem project is one of the tools the Nigerian government is using to tackle the challenge of unemployment through the growth of the MSMES sector.
Emijeko Cassandra and Abdullahi Muazu are two of the beneficiaries of this initiative 
With these established entrepreneurs cutting across six important areas of the economy, including ICT, entertainment, wholesale and retail, construction and real estate, hospitality and tourism and meat and leather, hope seems to be rising for the unemployed population in Nigeria as their growth is expected to create more than one hundred thousand jobs in the country.
Realizing the importance of MSMES to National Economic Development, Nigeria may sooner than later find herself in the league of world successful economies driven by the likes of Cassandra and Abdullahi.

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