• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 8, 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

Dangote Refinery’s Completion To Make Naira Stronger

US Provides Third Of Dangote’s Crude Requirement In 2025 Supplies

3 hours ago
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations

Consumer Goods Sector Drives NGX Growth With 40.65% Increase

3 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

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


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

Dangote Refinery’s Completion To Make Naira Stronger
Business

US Provides Third Of Dangote’s Crude Requirement In 2025 Supplies

2025/06/08
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations
Business

Consumer Goods Sector Drives NGX Growth With 40.65% Increase

2025/06/08
JUST IN: Nigerian Stocks End 8-Day Gains As Banks Slide
Business

‘Dangote Petrochemicals Listing To Boost Nigeria’s Stock Market’

2025/06/08
NLNG Ties 2023 Science Quiz Competition To Net Zero Emission
Business

NLNG Launches Human Capital Devt Programme Under Train 7 Project

2025/06/08
SEC Warns Nigerians Against Unregistered Investment Schemes
Business

New Meme Coin, PUNISHER COIN, Not Registered – SEC

2025/06/08
AMMC Begins Intensive Traffic Control On Airport Road
Business

Lagos, Abuja Top Nigeria’s 2025 Global Startup Index

2025/06/08
Leadership Conference advertisement

LATEST

NSC Announces Election Petitions, Appeals Committees

Khadeejah Wins Big At Campus Invasion

Lassa Fever: Vaccine Produced By Nigerian Shows High Potency –Virologist

Make Music Lagos Marks 10 Years With MI, Drille

Group Advocates Stronger Policies To Mitigate Climate Change

Harnessing Visual Communications To Strengthen Electoral Process

The Ministry Of Personal Deliverance (PART 11)

Tinubu And Arewa

Of Eid, Sacrifice, And The Politics Of Hope

Understanding Lumbar Spondylosis: What Your Lower Back Is Telling You

© 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.