Group managing director of Skye Bank, Tokunbo Abiru, has charged entrepreneurs on the importance of capacity building to the success of their enterprise.
Abiru noted this while speaking as a panellist in the just concluded Nigerian Economic Summit (NES) in Abuja, titled “Driving SME Growth for Made in Nigeria Products and Services.” He highlighted key issues that capacity building offered, stressing its importance for business owners.
According to Abiru, business owners should seek to have contextual understanding of their business ideas by engaging in extensive research and building managerial skills and capacity before approaching financial institutions for the required funding.
On the role of government in the SME space, he said “in order to ensure the accelerated growth of SMEs in Nigeria, government must play a frontal role in the provision of massive infrastructures like power, roads to enhance movement of goods and services across the country to optimise national productivity,” noting that “the environment should be conducive for businesses to thrive.
“When we patronise locally made goods, we are invariably contributing to enhanced operations of local manufacturers and entrepreneurs; create more jobs; improve quality of products and ultimately stimulate local consumption that impact the local economy.”