The federal government has strengthened its partnership with the United Nations Development Programme (UNDP) to boost the capacity of the Small and Medium Enterprises (SMEs) in the country to take advantage of the African Continental Free Trade Agreement (AfCFTA). This was the crux of a meeting with the theme “Exploring AfCFTA Opportunities For Small and Medium –sized Enterprises in Nigeria” which was organised by the Ministry of Industry, Trade and Investment and the UNDP in Abuja on Thursday. Permanent secretary of the Ministry of Industry Trade and Investment , Ambassador Nura Abba Rimi, while speaking at the event, lauded the transformative opportunities presented by the African trade agreement, adding that it will enhance the Nigerian economic landscape towards ushering in a new era of prosperity.
“AfCFTA will trigger a production revolution that will create jobs, increase income and lift millions out of poverty by looking beyond our domestic market and tapping into the trillion dollar continental market. We can advance the Nigerian developmental agenda as outlined in the National Development Plan 2021 to 2025,” he said. The permanent secretary, who spoke through a representative, noted that Nigeria has established three categories of funding for the SMEs totaling N200 billion to support small scale businesses across the country.
These include the Conditional Grant Scheme, SMEs Intervention Fund and Fund for the Manufacturing sector. He noted that the collabora.