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Home Economy/Technology

SMEs critical to of economic growth

SMEs

The Matters Press by The Matters Press
December 9, 2023
Reading Time: 2 mins read
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N125bn MSMEs intervention: IT critical to ensuring transparency – ITSSP

Abuja, Dec. 9, 2023: The Chairman Organising Committee of National Advertising Conference (ARCON), Tunji Adeyinka says Small and Medium Enterprises (SMEs) play a critical role in driving economic growth of the nation.

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Adeyinka said this at the ongoing National Advertising Conference (ARCON) holding in Abuja.

The conference has as its theme,:” Marketing Communication as an Enabler of National Transformation”.

He expressed optimism that the conference would address issues on the role the industry played in resettling the national discourse, fueling unity, social cohesion and economic growth for the country.

He said:” we are particularly interested in the Small and Medium Enterprises (SMEs) as they are critical drivers of economic growth with a current contribution of 48 per cent to our Gross Domestic Product (GDP) .

”We will look at the compliance of SMEs to the advertising law and also how the regulator can also work to ensure that it is easy for the SMEs to reach the market.”

According to Adeyinka, the conference aims to determine the size of the marketing communications industry and understand its contributions to GDP.

He said it also aimed to change the narrative and develop a brand of Nigeria campaign from the industry perspective.
‘We want something that begins to help advocacy, the development of the profession and the entire industry ,by taking topical issues and working those issues through.

”Following the numerous economic, social and political challenges the country is facing, it is imperative to create a path out of the difficulties.

The chairman expressed the commitment of the organisation to continue to partner with the government and stakeholders to boost the economy.

Adeyinka said:” I don’t think that the industry at any time has a problem with partnering with government at the national level or the sub national level.

”You will find out that some of us are working for them already. So its just to continue to do more work.

”The industry is available and is seeking for institutions and government to see the importance of branding, marketing and communications in citizen engagement.

”And to see what they can render as a service which has to be effectively communicated.”

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