Nigerian SMEs Must be Intentional to Overcome Challenges – CBN Deputy Governor

The Deputy Governor, Financial System Stability Directorate, Central Bank of Nigeria, Aisha Ahmad has encouraged small businesses in Nigeria on being intentional about overcoming the challenging ecosystems in order to contribute their quota to the growth of Nigeria’s economy.

According to her, SMEs represented a huge potential to drive economic inclusion, broaden prosperity and power the future growth of the Nigerian economy. The growth and future security of the Nigerian economy lie in the development of a sustainable SMEs ecosystem.

She gave this charge at the SMEs training organised by AT3 Resources with the theme, ‘Leveraging Possibilities for SMEs in The Digital Age’ was designed to empower SMEs to seize the growth opportunities present in the digital media era.

Speaking during the Bootcamp, CBN Deputy Governor, Financial System Stability Directorate stated  “Small businesses are the lifeblood of the economy and drivers of economic growth. Over 70 per cent of the jobs in Sub-Saharan Africa and emerging markets are provided by small businesses.

“Running a successful business in Nigeria comes with certain challenges but to overcome the challenges in the ecosystem, entrepreneurs must identify opportunities, set goals, be open to knowledge, build a sustainable structure, nurture relationships, add value and envision a better world with the service they provide.”

The Chairman, Troyka Holdings Limited, Dr. Biodun Shobanjo, while speaking, urged business owners to define their mission from the onset in order to deliver great results and remain in business.

He said, “The ability to deliver creative work in a timely manner is very crucial to running a successful business. Also, as a business owner, leading with integrity, excellence, passion and building a team of leaders for succession is important in sustaining a business.

“To remain above the curve, entrepreneurs must seek to diversify, innovate and leverage digital resources available in this digital era.”Sharing nuggets for success, the Founder/CEO, The Chair Centre Group, Ibukun Awosika, charged participants to continuously renew and empower their minds through education.

“My thirst and quest for continuous learning empowered me to build relationships and networks which has helped me broaden my mindset over time.“Knowledge is important, however, maintaining discipline, staying teachable and upholding values such as respect, openness, fairness, the right attitude, and integrity is key to becoming a successful entrepreneur,” she added.

In her closing remark during the last session, the Founder and Chief Executive Officer, AT3 Resources, Tosin Adefeko, charged participants to leverage knowledge from the training to carve a niche, grow their business and connect to a wider audience on the digital space.

“It is a delight to have hosted an impactful training for SMEs who are committed to scaling their businesses. I want to especially thank all the marketing communications experts who shared their wealth of experience. I encourage you to incorporate learnings from this training to scale your businesses,” she added.

Speaking on behalf of the attendees one of the small business owners expressed gratitude for the opportunity and reiterated his plans to integrate the knowledge practically.

The intensive digital marketing bootcamp delivered by 15 marketing experts, according to a statement, had in attendance participants who were armed with the best digital marketing tools, tips, trends, tactics & strategies to scale their businesses using digital tools whilst 10 corporate titans and leading entrepreneurs shared life and success nuggets.