BY GLORIA USMAN, ABUJA – The Director General, National Information Technology Development Agency (NITDA), Mr. Kashifu Inuwa Abdullahi, has said that Small and Medium Enterprises (SMEs) remain predominantly the backbone of economic growth in any country and have accounted for the successes of most businesses globally.
Abdullahi, who stated this in an address titled; ‘Leveraging on Technology and Innovation for Enterprise Productivity,’ at the Abuja Enterprise Agency Entrepreneurial Complex, also said, the major driving force for economic growth is the ICT which enhances efficiency.
The NITDA DG said that innovation and entrepreneurship are essential for long-term economic gains and prosperity, adding that SMEs provide the cornerstones on which economic growth and stability of any country solidly depends.
According to Abdullahi; “The World Bank Report on finances, SMEs were pronounced to represent 90% of businesses and more than 50% of employment globally”. He noted that in Nigeria, based on report by Pricewaterhouse Coopers, SMEs contribute 48% of the National GDP and account for 96% and 84% of businesses and employment respectively.
He said; “SMEs are therefore key contributors on employment, economic and export growth to the Nigerian economy”.
Abdullahi explained that increase in revenue, operational cost reduction, customer service improvement, employee experience improvement and constant innovations are important for enterprise productivity while laying emphasis on ‘technology’ as a driving force in achieving success.
He said that the NITDA has always been at the forefront of supporting SMEs, adding that the Agency through one of its subsidiaries, supported over 200 local startups that leverage on technology as tool for entrepreneurship.
The NITDA DG assured of the agency’s commitment to supporting SMEs through the development of the Nigerian Digital Innovation and Entrepreneurship Start up Policy (NDIESP) which is in line with the Nigerian Digital Economic Policy and Strategy (NDEPS) aimed at boosting the economic growth and diversification of the country.
He further said; “As an Agency that is focused on issuing regulations that will positively impact the society and not stifle innovation or growth, we are keen on collaborating with relevant stakeholders to co-create regulations that will enable SMEs leverage digital technologies to contribute meaningfully towards economic prosperity”.
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