NCDMB boss identifies MSMEs as backbone of Nigeria economy despite challenges NCDMB boss identifies MSMEs as backbone of Nigeria economy despite challenges
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The Executive Secretary of the Nigerian Content Development Monitoring Board (NCDMB), Mr Simbi Wabote, has stated that in spite of the daunting challenges against the development and growth of the Micro, Small and Medium Enterprises MSMEs in Nigeria, that segment of the economy remains the backbone of the nation’s economy.
Speaking at the weekend at Niger Delta MSME Summit held in Port Harcourt, Wobote identified three major challenges of MSMEs as inadequate electricity, lack of access to funds and the informality of the sector of the economy.
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The group said it has concluded plans to host what is described as the biggest MSME summit in the region.
The event, which was earlier planned for March 2020 was moved to Friday, February 12, 2021, due to the ravaging coronavirus pandemic.
Speaking to journalists in Port Harcourt, Moses Siasia, chairman of Nigerian Young Professionals Forum (NYPF), said a team of young people with futuristic thinking has been put together for the summit.
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The former governorship candidate in Bayelsa state said the theme of the event is: “Stimulating MSME Growth Beyond Oil”.
Siasia said the summit will host over 300 carefully selected MSME/small business owners across all the states in the region who will attend in person, while others will join the conference virtually, in conformity with the COVI9-19 preventive guidelines and protocols.