• Privacy Policy
  • Terms
  • About us
  • Contact Us
Sunday, May 15, 2022
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Features

Nigeria holds MSMEs as key to economy

TheMattersPress by TheMattersPress
October 29, 2018
Reading Time: 2 mins read
0
Nigeria holds MSMEs as key to economy

Nigeria’s Vice President Yemi Osinbajo has said that Micro, Small and Medium Enterprises (MSMEs) hold the key to the development of the nation’s economy.

RELATED POSTS

Wave of ritual killings for money stun Nigerians

Humanitarian crisis in North East Nigeria, enclave of jihadists

Buhari apologizes to restive Nigerians over excruciating petrol shortage, power blackouts

Inaugurating the 1.5 megawatts Independent Power Plant (IPP) at the Sura Shopping Complex in Lagos, Osinbajo urged the private sector to key into achieving the Federal Government’s economic development goals through MSMEs.

He said that the federal government would continue to implement visible improvements, reforms and interventions that would be impactful in people’s lives and businesses across the country.

“This cannot be achieved without government partnering with private sector, development partners and fellow Nigerians after it has created the enabling environment.

“ We are committed to being transparent as we strive to make Nigeria an easier and cheaper place in which to do business. You all have a critical role to play in ensuring that we succeed.

ALSO READ  Peeping into Okonjp-Iweala’s agenda to drive Africa in WTO

“Sura Shopping Complex now has reliable, affordable power, thanks to private sector and the government working hand-in-hand.

“As a result, the small businesses in this shopping complex will be more productive. We have made another dent in unemployment and poverty reduction.

“My hope is that we can apply the same formula – innovation, resilience, and partnership – to help Nigeria realise its potential,’’ he said.

Speaking at the inauguration, the Minister of Power, Works and Housing, Mr Babatunde Fashola, said that the mini power grid was a clear demonstration of federal government initiative in developing the power sector through solar energy and renewable energy.

He said that the project, executed under Energising Economies Initiative (EEI), was part of the government’s efforts at easing power shortage to over 200,000 MSMEs.
He said that with the mini power grid, 799 generators would have been decommissioned, thereby reducing harmful greenhouse emissions and noise pollution when the project was completed.

ALSO READ  Historic speech of Adesina, AfDB President at inauguration

He said that besides, the initiative would create over 2,500 jobs and reduce carbon emissions by 25,000 metric tonnes annually.

“Sura Shopping Complex, an ultra-modern complex located in Lagos, has over 11 different businesses.

“It ranges from printing, branding, financial services, equipment maintenance, catering to tailoring services. The complex has 1,047 shops which had been metered,” Fashola.

He said that the project was built and managed by a private sector developer, Solad Holdings Ltd.

In her speech, the Managing Director of Rural Electrification Agency (REA), Mrs Damilola Ogunbiyi, commended federal government for the EEI which was helping to improve the country’s economy.

“The EEI aspires to increase energy access and economic growth by assisting private sector developers to provide clean, reliable and affordable power to economic clusters, such as markets, shopping complexes and agricultural/industrial clusters.

ALSO READ  Fuel Subsidy Removal: The Needless Furore

“Over the next four to five years, we want to reach 500 thousand small businesses within 350 economic clusters. The role of FGN through the REA is critical to the success of this initiative.

“ This includes providing data like Energy audits, programme management support, community relation support and stakeholder management.

“The programme support for this project is also being provided by Power Africa through technical assistance support from Deliotte and Mckinsey. We appreciate their support and contributions,” he added.

The Sura shopping complex has 17 equipment maintenance shops, 53 real estate agents, three banks, 43 tailoring shops, 80 law firms, 55 retailers, 47 management consulting offices, 15 printing and branding offices, 22 catering outlets and 5 E-commerce centre.

ShareTweetPin
TheMattersPress

TheMattersPress

Related Posts

Wave of ritual killings for money stun Nigerians
Culture

Wave of ritual killings for money stun Nigerians

April 20, 2022
Humanitarian crisis in North East Nigeria, enclave of jihadists
Features

Humanitarian crisis in North East Nigeria, enclave of jihadists

April 13, 2022
Buhari  apologizes to restive Nigerians over excruciating petrol shortage, power blackouts
Economy

Buhari apologizes to restive Nigerians over excruciating petrol shortage, power blackouts

March 17, 2022
Act fast on Electoral Act, National Commissioners, Senate advised
Features

What to know about Nigeria’s Constitution Amendments

March 11, 2022
800 firms compete to manage gas flare sites
Features

Emerging Trends in Africa’s Hydrocarbon Landscape

February 21, 2022
Leaders seek unity, peace for beleaguered nation which clocks 61
Features

It’s time for a new economic deal between the EU and Africa

February 17, 2022
Next Post
Nigeria loses $25b to foreign ship owners

Nigeria loses $25b to foreign ship owners

Recharge of Lake Chad important to Africa

Recharge of Lake Chad important to Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Buhari, Osinbajo take oath of office

Buhari, Osinbajo take oath of office

May 29, 2019
Fishermen hail army over retake of Baga

Fishermen hail army over retake of Baga

January 12, 2019
Chamber wants to cut production

OPEC lauds bonds with Africa in energy industry

November 10, 2021

Popular Stories

  • 79 candidates for presidential election

    INEC wants to make you rich, bid for new jobs

    0 shares
    Share 0 Tweet 0
  • Universities approved to operate distance learning centres

    0 shares
    Share 0 Tweet 0
  • IMF’s reasons for Nigeria’s economic recovery

    0 shares
    Share 0 Tweet 0
  • Missing fighter jet found dead

    0 shares
    Share 0 Tweet 0
  • PawaPlus launches app to make access to electricity easy

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Osinbajo advocates African plan on energy transition
  • Buhari’s war against money laundering, financial crimes peaks
  • Stakeholders seek political will to revive textile sector

Categories

  • Agriculture
  • Business
  • Culture
  • Economy
  • Economy
  • Entertainment
  • Features
  • Finance, Money
  • Foreign
  • Health
  • Lifestyle
  • Multimedia
  • News
  • Oil, Gas
  • Opinion
  • Photo
  • Politics
  • Politics/Social
  • Religion
  • Security
  • Special News
  • Sports
  • Tech
  • Thematterspress
  • Trade, Industry, Technology
  • Travel
  • Uncategorized
  • Video
  • World

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?