Amb. Maryam Yalwaji Katagum, the minister of state for industry, trade, and investment, has called for collaboration between the public and private sectors to increase access to capital for micro, small, and medium-sized businesses (MSMEs).
Speaking to Union Bank of Nigeria Plc. representatives during their visit to Abuja under the leadership of Mr. Mudassir Amray, Managing Director/CEO, the minister emphasized the importance of banks working in collaboration with the Industrial Training Fund to develop skills for MSMEs.
She argued that financial inclusion and e-commerce should be a part of bank operations.She continued by saying that the government’s move into industries other than oil is a wise move for the expansion of the country’s economy.
She argued that the federal government’s desire to shift its focus from the oil and gas industry to the non-oil sector was a wise move, and that more collaborations and resources should be directed in that area.
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Amray had earlier stated that the goal of their visit was to enlist the ministry’s and its agencies’ support in order to get knowledge about potential areas of cooperation.
The administration also reiterated its commitment to making sure the African Continental Free Trade Area Agreement, (AfCFTA), receives the required support.In a meeting with Peter Ryan, the Irish ambassador to Nigeria, Katagum identified Nigeria as a highly crucial country for the implementation of the AfCFTA, and the government’s commitment to giving Nigerian firms the support they need to participate significantly.
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She emphasized the many programs and policies put in place by her ministry to enable international commerce and investments in the nation, including the drafting of trade policy, investment policy, and car policy, among others.
In order to increase non-oil exports, the minister further stated that the ministry has established trade houses in Cairo, Egypt; Nairobi, Kenya; and other international locations through the Nigerian Export Promotion Council (NEPC).
