• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CPPE Seeks Better Business Environment For MSMEs

by Kingsley Okoh
2 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

The Centre for the Promotion of Private Enterprise(CPPE) has stated that the Micro, Small, and Medium Enterprises (MSMEs) sector holds the key to Nigeria’s economic resurgence, provided it operates in a conducive environment.

Advertisement

Chief executive officer of CPPE, Dr. Muda Yusuf highlighted that the MSMEs have the potential to create over 20 million jobs, but the sector’s growth has been hampered by insufficient attention from authorities.

Speaking at the 2023 business roundtable themed ‘MSMEs: The Catalyst for Nigeria’s Economic Rejuvenation and Growth,’ organised by the National Association of Small and Medium Enterprises (NASME) in Lagos, the former Director General of Lagos Chamber of Commerce and Industry (LCCI) emphasises that there are approximately 39.65 million MSMEs, with micro-enterprises constituting 96.9 per cent.

He envisions that if only 50 per cent of these enterprises could generate one job each, it would result in about 20 million new employment opportunities.

Yusuf acknowledges the challenging climate for businesses, particularly MSMEs, and applauds those who have persevered despite the prevailing difficulties. He emphasises that MSMEs are the backbone of the Nigerian economy, embodying the resilience the nation is renowned for, even in the face of significant challenges.

RELATED

Deploying AI Will Not Cause Job Loss In Nigeria – Expert

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

15 hours ago
FirstBank Customers Get N93m In ‘Win Big Promo’

FirstBank Launches Facial Recognition On Mobile App

15 hours ago

However, Yusuf highlights the high mortality rate among Nigerian MSMEs due to various challenges within the business environment.

These challenges range from structural issues like infrastructure deficits to currency exchange rate fluctuations, leading to liquidity crises in the foreign exchange market.

In seeking solutions, Yusuf proposes addressing critical infrastructure concerns, with immediate attention to be directed towards electricity supply and logistics. He also advocates for resolving issues related to foreign exchange liquidity and currency depreciation. Additionally, he suggests tax exemptions for MSMEs with an annual turnover of N50 million and below, coupled with efforts to streamline and reduce the burden of multiple taxes and levies.

Furthermore, Yusuf stresses the importance of tackling regulatory and institutional hurdles that affect MSMEs, particularly in accessing credit, managing the cost of credit, and determining fund tenure. Addressing these concerns will be pivotal in fostering a thriving MSME sector and catalyzing economic growth.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: CPPEMSMES
SendShareTweetShare
Previous Post

Rotary Club Commissions Road Project In Kubwa

Next Post

Bayelsa Poll: CAN Backs Gov Diri For Second Term

Kingsley Okoh

Kingsley Okoh

You May Like

Deploying AI Will Not Cause Job Loss In Nigeria – Expert
Business

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

2025/06/30
FirstBank Customers Get N93m In ‘Win Big Promo’
Business

FirstBank Launches Facial Recognition On Mobile App

2025/06/30
Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade
Business

Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade

2025/06/30
Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger
Business

Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger

2025/06/30
Council Targets Accelerated Sugar Project Devt In 2025
Business

Poor Backward Integration Programme Performance To Cost Sugar Firms Import Quotas

2025/06/30
Bbb+ Rating
Business

TAJBank Sustains Industry Feat, Pays 3rd Dividend In 5 Years

2025/06/30
Leadership Conference advertisement

LATEST

Nigeria Is In Our DNA, Says Lucian PM

Speed Darlington Threatens NAPTIP With N2.5bn Lawsuit For Declaring Him Wanted

Pastor, Woman Stripped Naked Over Alleged Infidelity In Edo

Ex-Lawmaker Mashood Mustapha Arraigned For Alleged Defamation Of Kwara Gov

Gwarzo Hails North’s First Clinical Pharmacy Prof, Hadiza Ma’aji, On Professorial Elevation

JUST-IN: Dantata’s Burial Postponed To Tuesday 

Court Jails Cab Driver For Unlawful Trafficking Of 12 Live Parrots

Jega Harps On Modernisation Of Nigeria’s Livestock Sector

Minister Inaugurates 11-man NPA Governing Board

Navy Arrests Suspected Militant With Firearm In Bayelsa

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.