Government, P&G seal pact to empower SMEs in Nigeria
Over 38 million Small and Medium scale Enterprises (SMEs) are expected to benefit from a new agreement reached between the Federal Government and Procter and Gamble (P&G), a leading fast moving consumer goods company in Nigeria.
The pact, which is slated for a period of five years, would see the government mobilise regional participation of partners and business owners for the SMEs academy, while the P&G will facilitate the training and skill development of beneficiaries.
The Minister of State for Industry, Trade and Investment, Mrs. Aisha Abubakar, who signed the Memorandum of Understanding (MoU) on behalf of the government in Abuja, said the partnership would open up the space for SMEs to contribute to the economy of the country.
She said SMEs have proven to be an important part of the economy, hence the need to help them scale up and achieve more, adding that the Federal Government bears no cost under the arrangement.
“This partnership with P&G could not have come at a better time. The Ministry is pleased that this public private partnership will support the program of the government to train SME Academy participants on key financial management principles and expose them to financial literacy, improve their access to finance and promote business ethics,” she said
Earlier, Director of Government Relations, Africa, at P&G, Mrs. Temitope Iluyemi, noted that the firm is committed to driving skills development of SMEs in Nigeria.
“This partnership demonstrates P&G’s commitment to be a force for good and a force for growth. We are committed to empowering SMEs and helping them get adequate skills for the success of their business.
“Our ultimate aim is to see small businesses grow and contribute to the overall growth of our Nation’s economy,” she added.
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