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, held recently 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 and increase in capability for SMEs across the country.
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 said: “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”.
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.