The Managing Director/CEO, Peugeot Automobile Nigeria, Mr. Ibrahim Boyi, has called for stakeholders support for Micro, Small and Medium Scale Enterprises (MSMEs), describing them as having the capacity to absorb the nation’s growing workforce and improve economy.
Boyi made this call yesterday, while speaking as the keynote speaker at the Development Bank of Nigeria (DBN) MSME Summit held in Maiduguri, Borno State, where he also noted that the current supply of about $3.7trillion is low compared to the $8.9 trillion potential demand for MSME financing.
The automobile group boss noted that the sector (MSMEs) has made a total employment contribution of over 60 million persons and if given the needed support, funding and enabling environment will do a lot more.
His words: “There are five major economic sectors that have thrived within the MSME sector in Nigeria, these are Wholesale/Retail Trade; Agriculture; Other Services; Manufacturing, Accommodation & Food Services. These sectors have made a total employment contribution of about 60 million persons, while 10 million persons from these statistics do not have Western Education”.