The Director General of the National Information Technology Development Agency, NITDA, Kashifu Inuwa Abdullahi, emphasized the importance of prioritizing Small and Medium Enterprises (SMEs) in Nigeria to drive economic prosperity. In a recent meeting with the Small and Medium Enterprise Agency of Nigeria, SMEDAN, Abdullahi highlighted the crucial role that SMEs play in the country’s economy and called for the creation of a comprehensive database to accurately capture their impact.
Abdullahi pointed out that SMEs make up more than 90% of businesses in Nigeria, with over 40 million SMEs operating in the country. However, the lack of a centralized database has led to conflicting figures and hindered efforts to support and incentivize these businesses effectively.
In line with President Bola Tinubu’s directive to diversify the economy through technological innovation, Abdullahi stressed the need to prioritize SMEs and leverage technology to enhance their productivity and market reach. By fostering digital literacy among SMEs, Abdullahi believes that these businesses can tap into the digital economy and expand their global presence.
Highlighting the transformative power of technology, Abdullahi cited examples of global brands like Facebook and Twitter that started as SMEs and grew into million-dollar companies. He emphasized that technology can enable SMEs to develop new business propositions and scale their operations from local markets to global platforms.
In conclusion, Abdullahi urged for collaboration between NITDA and SMEDAN to create a comprehensive database of SMEs in Nigeria, providing valuable insights to tailor incentives and support programs for these businesses. By empowering SMEs with technology and digital skills, Nigeria can unlock the full potential of its entrepreneurial ecosystem and drive economic growth and prosperity for all.
