Finance Minister Taiwo Oyedele says the government is committed to supporting small and medium-sized enterprises to drive economic growth, create jobs and promote entrepreneurship.
Speaking at the fourth edition of the Nigeria Sovereign Investment Authority Prize for Innovation in Abuja, Oyedele said the country’s ambition to build a trillion-dollar economy depended on helping small businesses grow into large, globally competitive companies.
He said the government was addressing financing and capacity challenges through initiatives such as the Development Bank of Nigeria, the National Credit Guarantee Company and the Investment in Digital and Creative Enterprises programme.
He also noted that the Nigeria Sovereign Investment Authority was supporting venture capital funds to attract investments into promising Nigerian businesses.
Meanwhile, entrepreneur Affiong Williams has advised business owners to understand their customers, build strong professional networks and remain resilient during economic challenges.
Williams, who was one of the judges at the competition, urged entrepreneurs to focus on meeting market needs and building credibility to attract investors.
She also encouraged the finalists to develop sustainable businesses that create jobs and wealth.
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