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    FCTA identifies SMEs as panacea for economic growth

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Nana Musa
    Abuja, April 22, 2021 The Federal Capital Territory Administration (FCTA), has identified the Small and Medium Scale Enterprises (SMEs), as an important component in Nigeria’s stride towards economic growth and development.

    FCT Minister of State, Dr Ramatu Aliyu, made the remark at the induction and award ceremony of the Institute of Sales and Marketing Management of Nigeria, on Thursday in Abuja.

    Aliyu was represented by Mr Osuji Geoffrey, Director Inspectorate, Planning and Monitoring, Area Councils Services Secretariat.

    She assured business owners that the FCT Administration would continue to reward high impact entrepreneurs who had done very well in various businesses under the supervision of the Abuja Enterprise Agency (AEA).

    The minister affirmed that the AEA remained the administration’s vehicle for entrepreneurial and wealth creation, as encapsulated in the FCT Economic Empowerment and Development Strategy.

    She said that the FCT Administration was leaving no stone unturned towards ensuring that MSMEs were not encumbered with business support challenges in the territory.

    The minister reiterated that in more than 10 years of supporting businesses in the FCT, the agency had assisted about 73, 450 individuals and businesses.

    According to her, 90 per cent of those assisted are women and youths with critical business support such as business clinics, access to finance, workspace, and market linkage amongst others.

    She further said 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 some of the few achievements the agency has attained over the years,” the minister said.

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

    Speaking earlier, Alhaji Awulu Muktari, the President-in-Council, Institute of Sales and Marketing Management of Nigeria, said that since the establishment of the institute by an Act of parliament in 2007, it had been active in its advisory role to government.

    Muktari said that advisory role was in policy formulation on trade matters.

    Represented by Prof. Yakubu Ochefu, the president said apart from individuals, the institute had also been conducting in-house training for sales and marketing staff of corporate bodies.

    He said such personnel were those who wanted to sharpen the skills of their employees to engage them in strategic revenue drive that would increase corporate earnings.

    Muktari, therefore, called on corporate bodies and other individuals to leverage the on the Abuja office, for training re-training of employees for professional efficiency.

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