Nigeria’s President Bola Ahmed Tinubu is very passionate about the empowerment of Micro, Small and Medium Enterprises (MSMEs) for the development of the nation’s economy, Vice President Kashim Shettima has affirmed.
Shettima made this known on Tuesday when he spoke with journalists during his tour of exhibition stands at the BRICS Trade Fair at the ongoing summit in Johannesburg, South Africa.
According to the Vice President, “It is a known fact that the empowerment of the MSMEs is key to empowering our youth and women towards contributing to the nation’s economic development.”
Speaking further about Tinubu’s commitment towards empowering the MSMEs, he said “The president is a very compassionate leader and in the coming months, there will be changes in the fortunes of Nigeria.”
Explaining the economic impact of the growth of MSMEs on the economy, Shettima said “This will have positive impacts which will enable them to support their families and add value to the nation.”
The Vice President commended the organisers of the trade fair which had about 180 exhibitors from various sectors of the economy.
He stressed that the exhibitions will in the long run serve the purpose of galvanising investment and trade in the continent.
Shettima, who took time to inspect Nigeria’s exhibitions lauded the investments of Nigerians in South Africa, said “I am quite impressed by the investment Nigerians are making in South Africa. This is the harbinger of greater things to come. I can say that Nigerians are active in digital economy, they are active in fashion, they are equally active in mining.
“I am quite glad that quite a number of our countrymen are doing well and are willing to partner with the home nation for the greater glory of the African continent.”
He also lauded a Nigerian investment outfit in South Africa for the funding of a cassava project worth N40 billion, Rose Bank, and affirmed that “it is game a changer with the cassava value chain with its huge economic benefits. We hope that it will be reflected in other parts of the country.”
The Trade Fair is being organised by the BRIC South Africa & The SA BRICS Business Council (SABBC) in collaboration with the Department of Trade Industry and Competition, on the side-lines of the ongoing 15th BRICS Summit.
The exhibition is expected to serve as a platform for showcasing products and services from the BRICS countries as well as business-to-business interaction aimed at increasing intra-BRICS trade and investments.
The agenda for the summit will possibly include the future expansion of BRICS membership, among other topics.
Several African countries including Egypt, Algeria, and Ethiopia have earlier indicated their interest to join the bloc.
The group has invited 69 countries including all African states to this week’s BRICS summit.
BRICS is a bloc that seeks to counterbalance the domination of the Western economies. Its name is derived from the five countries, Brazil, Russia, India, China, and South Africa.
The joint gross domestic product (GDP) of the group represents 23 percent the world’s GDP, and their population represents 42 percent of the world’s population.
