The President, Major General Muhammadu Buhari (retd.), said on Thursday in Abuja that his administration has “done so much” to ensure the survival and development of Small and Medium Enterprises (SMEs) despite several external shocks, including the Covid‑19 pandemic. Citing the recent signing of the Business Facilitation Bill into law, Buhari emphasized that a vibrant and successful SME sector is essential for economic growth and job creation.
Speaking to the Governing Council and members of the Institute of Directors, led by President and Chairman Dr. Ije Jidenma, Buhari noted, “I was particularly interested to learn that you not only cater to large corporates, but are aware that for any economy to grow and create jobs, we need an equally vibrant and successful small and medium enterprise sector.” He added that the administration had taken significant steps to support SMEs during difficult times and highlighted the new Business Facilitation Bill, which eases constraints for micro, small, and medium‑sized enterprises. “I am confident that this act will go some way in improving our business environment, especially for the MSMEs,” he said.
Buhari congratulated the Institute on its 40‑year milestone, praising its commitment to nation‑building. He urged directors to uphold transparency and good business ethics, calling on stakeholders to recognize the Institute’s potential as a support base for economic development. “These values are not just important pillars in the private sphere; they are also the keys to success in governance in the public sector, where the people have entrusted us with the responsibility to lead, guide, and protect them,” he asserted. He further noted that as the economy and private sector evolve, it is crucial for all stakeholders to acknowledge the Institute’s capacity to provide necessary support and development for the country.
In her remarks, Dr. Jidenma explained that reforms across various sectors of the Nigerian economy over the past eight years have raised expectations for the performance of business leaders and boards of public‑sector organisations. This has positioned the Institute to sustain its leadership role in orienting and building the capacity of directors to fulfill their mandates. She highlighted that the Institute has identified areas needing further action to achieve “Chartered” status and, after interfacing with the National Assembly and relevant stakeholders, has requested the President’s consideration and assent when the Bill is transmitted to him.
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