Thursday, August 25, 2016

The President Muhammadu Buhari-led Federal Government, through the Ministry ofIndustry, Trade and Investment, FMITI, has concluded plans to boost Small and Medium Enterprises, SMEs in Nigeria, with the introduction of the initiative tagged- Business, Innovation and Growth, BIG Platform.

With adequate support by the World Bank, the FMITI, in a statement on its website, seeks to grow SMEs in Nigeria, along the lines of sales, as well as providing employment opportunities for Nigerians.

The statement read: “The Federal Ministry of Industry, Trade and Investment, (FMITI) with the support of the World Bank seek to grow small businesses in Nigeria. These businesses will be boosted along the lines of sales and employment, so that we can eventually grow our economy and reduce our dependence on crude oil.

“This initiative is called the Business, Innovation and Growth (BIG) Platform and it is operationalized in the Growth and Employment (GEM) Project.

“The FMITI and World Bank have identified five sectors that have high potential for growth in Nigeria; and these are the sectors that will be accessing the support the BIG Platform will be offering. The sectors include- Construction, Entertainment, Hospitality, Information and Communication Technology, ICT and Light Manufacturing (Including Agro processing).

“The participating businesses will receive support in the following ways: Free Technical Assistance: Including training and consulting services and possibly; Grants: Available in 5 categories: Equity, Matching, Performance, Institutional, Innovative.”

Explaining how Nigerians can register for the BIG Platform initiative, the statement stated: “The steps to accessing this support is: Log on to the BIG Platform (www.bigportal.org.ng), create an account and register your business, Attend an induction workshop and Access the various services available on the BIG Platform”

It added: “We welcome existing Nigerian businesses operating within the aforementioned sectors to register their business on the BIG Platform to benefit from this project.”