Yesterday, I had the opportunity to visit the office of CAC Registrar General Hussaini Ishaq Magaji, SAN. Our discussions were centered on aligning strategies to streamline and simplify the registration process for small businesses. The key objective was to create a more efficient regulatory framework, essential for fostering an enabling environment where small and medium enterprises (SMEs) can thrive. By removing bureaucratic hurdles and making the registration process more accessible, we aim to empower entrepreneurs, making it easier for them to formalize their businesses and access the various benefits of being part of the formal economy. This initiative is a crucial step towards enhancing the ease of doing business in Nigeria, which will ultimately lead to the growth and sustainability of our local enterprises.
In the afternoon, I participated in a live discussion on CNBC Africa Power Lunch, where I had the opportunity to delve into the positive implications of our collaborative 5 Billion single-digit loan initiative, launched in partnership with Sterling Bank. I extend my heartfelt thanks to Abubakar Suleiman for his unwavering support in this endeavor. The discussion on CNBC Africa focused on how this initiative is poised to significantly impact small businesses across the country. By providing accessible and affordable finance, we are not only facilitating growth but also empowering small businesses to scale their operations. This financial injection is crucial for businesses that have been struggling with capital constraints, as it provides them with the much-needed resources to expand, innovate, and compete effectively in the market.
Later in the day, while in Lagos, I had the honor of representing the Hon. Minister Doris Uzoka-Anite at the 18th Nigeria-British Chamber of Commerce (NBCC) President’s inauguration dinner. This event provided a platform to engage with key stakeholders in the business community and discuss strategies to support SMEs. During the dinner, I unveiled the NBCC MSME Ideation, an initiative designed to bridge the digital divide for SMEs. This initiative focuses on facilitating operational improvements, expanding market reach, and ensuring sustained competitiveness within the rapidly evolving business landscape. By equipping SMEs with the necessary digital tools and knowledge, we are enabling them to navigate the challenges of the modern market and secure their place in the global economy. The NBCC MSME Ideation is a testament to our commitment to supporting small businesses and ensuring they have the resources they need to succeed.
