By Paul Effiong, Abuja
Speaker of the House of Representatives, Tajudeen Abbas said Nigeria’s journey towards a trillion-dollar economy depends on the growth and empowerment of small and medium-sized enterprise.
Abbas stated this yesterday during the Enterprise Nexus Summit held at the National Assembly Complex in Abuja with the theme, ‘Strengthening Local Enterprise Through Policy Support and Access.’
The speaker, represented by his Deputy, Benjamin Kalu, informed that the summit was designed not as a ceremonial event, but as a working platform where policy, ambition and opportunity meet in one room to produce outcomes measurable in livelihoods.
He, however, lamented that despite Nigeria’s entrepreneurial potential, structural gaps in access to finance, infrastructure, technology and supportive policies have hindered SMEs from reaching their full potentials.
According to him, Nigeria’s entrepreneurs have never lacked ideas or courage, adding that what they have lacked is a system designed to match their energy.
“The PriceWaterhouseCooper’s 2024 survey in Nigeria shows that SMSEs account for over 84 per cent of businesses and contribute about 48 per cent to the National Gross Domestic Product (GDP), and make up 96.8 per cent of total number of registered businesses in Nigeria.
He also emphasised inclusion, urging policies that empower women, youth, rural artisans, and underserved communities.
The speaker equally outlined legislative measures currently underway to strengthen SMEs.
In his address, Chairman of the National Drug Law Enforcement Agency, NDLEA, Mohammed Marwa said there is a strong link between youth empowerment and drug abuse prevention.
Marwa, who was represented by the Director of Prevention and Sensitisation, Dankolo Mohammed, Assistant Commander General of Narcotics Dankolo Mohammed, said while Nigerian youths possess enormous creativity and potential, many face structural barriers that hinder their journey to sustainable livelihoods.
According to him, these challenges are compounded by rising threats of drug and substance abuse, which undermine both individual prospects and the broader future of the country.
