P&G Nigeria Partners Bank Of Industry To Catalyze The SME Sector Through Skilled Academy

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

GTBank Releases Q3 2019 Unaudited Results, Reports Profit After Tax of ₦146.99 Billion

Key Highlights  Gross Earnings decreased by 3.3% to N326.03bn from N337.27bn in Q3 2018 Profit before Tax increased by...

Golden Guinea Breweries commences full operation in Abia (Pictures)

Golden Guinea Breweries PLC, located along Aba Road, Afara Layout, Umuahia, Abia State, has begun operation. The brewery came back...
- Advertisement -
- Advertisement -

Leading manufacturers of trusted quality brands in Nigeria, Procter & Gamble, in partnership with FMITI and the Bank of Industry (BoI), has initiated an SME Academy program to select small and medium scale businesses in the country. The program, which was held on the 3rd of October 2019, in Ibadan Oyo State, is a follow-up to the agreement made with the Federal Government of Nigeria earlier in the year to leverage the Ministry of Industry Trade & Investment and ensure the growth of and increase in capability for SMEs across the country.

From Left to Right: Irabor Pacqueens, State Manager, Oyo State Office, Bank of Industry; Temitope Iluyemi, Director of Government Relations and Public Policy for Sub Sahara Africa, Procter & Gamble, Temitayo Fagbule, Chairman, Editorial Board, Business Day; Adil Farhat, Managing Director, Procter & Gamble Nigeria; Alhaji Kagara Ahmed Regional West Manager, Bank of Industry at the SME Academy Program held on the 3rd of October at the Jogor Event Center, Ibadan Oyo State.

The goal of the SME Academy is to find sustainable solutions to unlock the efficiency and performance of these enterprises through advisory and skills development, as these are key constraints to the growth of SMEs in Nigeria.

According to the Managing Director of Procter & Gamble Nigeria, Adil Farhat, he stated: “The development of SMEs through capability building is a demonstration of Procter & Gamble’s commitment to transforming Nigeria’s Entrepreneurship ecosystem.  When we decided to impact SMEs in Nigeria with support from the Federal Ministry of Industry, Trade and Investment, we were interested in developing an empowering model that would accommodate as many entities as possible. Our partnership with the Bank of Industry is strategic, as they have the capacity and expertise that would accelerate this vision into sustainable realities; which aligns with our goals for this program”.

Read:  Procter & Gamble earnings top estimates, with boost from price hikes; shares jump

Speaking on the objectives of the program, the Regional Manager (West) of the Bank of Industry (BOI), Alhaji Kagara Ahmed said: “It is important for SMEs to focus on knowledge acquisition to optimize their people, physical resources, processes, and products/services in order to guarantee sustainable business profits. BOI is committed to the development of SMEs in Nigeria because we believe that a vibrant SME sector is critical to the transformation of the Nigerian industrial sector. The focus of today’s SME Academy is to effectively enhance the management systems of SMEs to ensure that their operational processes from initiation to completion is of quality and sustainable standards.”

Read:  UNILAG Benefits BOI Aid To Render Entrepreneurship Grants For Students
Read:  MTN Nigeria receives approval to list on the Nigerian Stock Exchange

Among its other objectives for the initiative, Procter & Gamble aims to provide practical guidance designed specifically for highly innovative SMEs with sustainable ambitions that are determined to turn strong, innovation towards total economic activity. The SME sector has become increasingly important to economies around the world, with a World Bank Study estimating their presence to be between 365-445 million in emerging markets. It is also the leading source of employment in Nigeria, amassing over 80% of the region’s workforce.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

“Best Global Brands 2019” – Mercedes-Benz is once again the world’s most valuable luxury car brand

Mercedes-Benz further increased its brand value and is once again the world's most valuable luxury automotive brand. In the...

Owo Arugbo: Ekiti Begins N20,000 Payment To The Elderly As Monthly Stipend For Social Security Scheme

Ekiti State Governor, Dr Kayode Fayemi on Wednesday re-launched the social security Scheme for elderly citizens in the state with, a pledge to commit more...

Nestlé reports nine-month sales for 2019, revamps waters business as organic growth slows

Organic growth of 3.7%, with real internal growth (RIG) of 3.0% and pricing of 0.7%. Growth was supported by strong momentum in the...

GTBank Releases Q3 2019 Unaudited Results, Reports Profit before tax of ₦170.7 Billion

Guaranty Trust Bank plc (GTBANK) has released its unaudited financial results for the period ended September 30, 2019, to the Nigerian and London Stock...

More Articles Like This