MSMEs make 90 per cent of manufacturing and 80 per cent of trade in Nigeria, says the federal government.

“In Nigeria, micro, small and medium enterprises (MSMEs) represent up to 90 per cent of manufacturing and 80 per cent of trade,” said finance minister Zainab Ahmed at the West Africa Business Forum in Lagos on Tuesday. “Our national strategy includes an MSME aggregation programme to promote specialisation and increase productivity, and also an MSME connection to e-commerce platforms and other emerging technologies.”

She also revealed that the government would promote an industrial digital economy and sustainable and inclusive economic development in the country and across Africa.

Ms Ahmed further stressed the importance of inclusive economic development, which, she noted, remained a core element of both the African Union Agenda 2063 and the United Nations Sustainable Development Goals (SDGs) agenda.

The minister added that the government was promoting the country’s digital economy through some national strategies.

“By leveraging these digital technologies, Nigeria hopes to create alternative routes to markets for MSMEs, within Nigeria and beyond, and to support production clusters in manufacturing and agriculture,” stated Ms Ahmed. “It is, therefore, expedient to promote an industrial digital economy, sustainable and inclusive economic development.”

(NAN)