By Ben Adoga
The Nigerian Federal Capital Territory Administration, FCTA, has approved the initiative of the Abuja Enterprise Agency, AEA, to support the establishment of more MSMEs through the granting of a 75% discount on the cost of registration of businesses with the Cooperate Affairs Commission, CAC.
The Territory’s Permanent Secretary, Mr Olusade Adesola revealed this during the 2nd edition of the FCT-SEB Trade and Entrepreneurial Exhibition event organised by the FCT Secondary Education Board, FCT-SEB, held in Abuja Nigeria’s capital.
The Permanent Secretary explained that the event was conceived to recognise, encourage and support the grooming of future Entrepreneurs, Innovators and Trades/Craftsmen in the Federal Capital Territory.
Adesola also hinted that in alignment with the vision of Mr President, the FCT Administration through the Abuja Enterprise Agency has also initiated and sustained various entrepreneurial programmes designed to gainfully engage the youths in the territory.
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While calling as many of the FCT residents to explore opportunities offered by this intervention, Adesola assured of the sustained support of the Federal Capital Territory Administration for entrepreneurial development.
Adesola further explained that, in recognition of the role of youths in nation-building and the need for a paradigm shift towards developing self-sufficient, innovative and entrepreneurial youths, President Muhammadu Buhari, has through various agencies initiated and funded policies and programmes toward the development of the Nigerian youth.
He noted that Programmes such as the Youth Entrepreneur Support Program (YES-P), Presidential Youth Empowerment Scheme (PYES), N-Power Empowerment Programme, Nigeria Youth Investment Fund, etc are all worth noting.
According to him, ” the inculcation and development of the spirit of trades/craftsmanship, innovation and entrepreneurship in our youth is at the heart of our industrialization and by implication, our economic development as a nation. As we are aware, the Micro, Small and Medium Enterprises (MSME) are a product of the activities of Trade/Craftsmen and Entrepreneurs. We may ask. what role do they play in nation-building?
A survey conducted on Nigeria’s Small and Medium Enterprises (SMEs) by Price water house Coopers (PwC Nigeria) titled “Assessing current market conditions and business growth prospects”, observed that the MSME sector is the backbone of major developed economies, as well as important contributors to employment, it reported that MSMES in South Africa, account for 91% of businesses, 60% of employment and contribute 52% of total GDP. For our nation to achieve its potential, therefore, programmes such as these must be encouraged at the grassroots levels: for as the saying goes “catch them young” and “despise not the days of small beginnings”, Adesola Said.
The Permanent Secretary also pointed out that the ongoing financial revolution for financial inclusion is being championed by the youths, noting that, Fintechs such as Flutterwave, Piggyvest, Paga, etc are entrepreneurial efforts of the youth.
Earlier, the Director of FCT Secondary Education Board, Mrs Nanre Emeje said the FCT Permanent Secretary, who is passionate about the survival of the next generation, based on hard work, advised that this exhibition be held annually.
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Mrs Emeje noted that their target will always be to use these events to showcase the students’ achievements in innovation and seek to market the products therefrom.
The Country Director Esteem, Dr Segun Ojarotade stressed the need to assist young entrepreneurs by creating an enabling environment and supporting FCT SEB policies that allow them to thrive.
While commenting on the FCT SEB magazine which is aim at showcasing the products of SEB Trade and Entrepreneurship, he encouraged participants to Kee into this launching to support ESTEM’s Social responsibility’s dream of acquiring equipment needed to promote Trade and entrepreneurship training in our FCT Secondary Schools.
