The President of African Export-Import Bank (AfreximBank), Prof. Benedict Oramah, has said with enabling environment in trade institutions Nigeria would lead Africa in trade value chain.
He said the enabling environment would improve operation of Small and Medium Enterprise (SMEs) as well as to reduce poverty in the country.
Oramah stated this at 8th Goddy Jidenma Foundation biennial, public lecture, titled ‘the trade route to poverty reduction in Africa a de-globalizing world’ with the topic ‘governance, insecurity, poverty and socioeconomic development in contemporary Nigeria and Africa’.
held at Muson Centre, Onikan, Lagos.
He said SMEs are generally thought to be the backbone of any healthy economy; of any nation as they drive growth, provide employment opportunities and open new markets.
He said: “SMEs already contribute more than 50 per cent towards ground domestic product (GDP), they also supply and anchor big retail businesses with products, services and even markets. But all these can only be possible when government create enabling environment and economy would improve”.
Oramah noted that SMEs provide the economy with a healthy supply of new skills and ideas and make the marketplace more dynamic, many innovations and inventions across the developed countries emanate from the SME sector and they disrupt markets and make lives easier for consumers at large. “Clearly, SMEs have a firm foothold now, thanks to advances in technology. Entrepreneurs are identifying new markets and setting up SMEs to open up these new markets”.
Chairman, Board of Trustees Founding Faculty Member, Lagos Business School and Founder, Centre for Values in Leadership (CVL), Frof. Pat Utomi, said said other countries like China, India, Germany, England among others focused more on improvement of SMEs in their countries therefore Nigerians should emulate them.
Utomi noted there is no doubt that our Country Nigeria is at the nucleus of Africa’s emergence and growth.
He explained that Goddy Jidenma Foundation is a not-for-profit, non-governmental organization that was established in 2007 in the memory of Arc. Goddy Jidenma, who died in 2006.
Executive Secretary of the foundation, Dr. Ije Jidenma, said the programme areas of the foundation include promoting education, leadership, mentorship, public speaking and philanthropy.
She said the institution has instituted prizes in excellence and public speaking in secondary schools across the country. “These include the Loyola Jesuit College Abuja, Birch Freeman College, Lagos, the Pacelli School for the Blind, Lagos, Nnamdi Azikiwe Secondary School, Abagana and Ezeike High School Nibo both in Anambra State”.
She said the institution considers these initiatives strategic in shaping the vision of the young people and inchanneling of their energies to healthy competition and the development of lifelong skills.
Jidenma explained the foundation also consistently worked with other non-governmental organisations (NGOs), to support widows and volunerable members of the society through donations of basic things of life such as food and clothing. “However, we are yet to scratch the surface in other areas of intervention such as shelter and environment, which were very dear to Arc. Goddy Jidenma. A good example is when he volunteered and led the clearing of garbage dumps at the Onitsha, Niger Bridge gateway under the aegis of league of Anambra professionals”.
