The National Information Technology Development Agency (NITDA) has called on Micro, Small and Medium Enterprises (MSMEs) in Nigeria to adopt and adapt to digital technologies in order to increase productivity and profitability of their businesses.
This call was made by the NITDA’s Director General, Kashifu Inuwa, who was represented at the 10th edition of Abuja Enterprise Agency’s Business 360 Clinics.
Speaking on the theme, “Technology Utilisation and Innovation: Its Effect on SME Profitability and Productivity”, Inuwa emphasized the need for SMEs to effectively utilize technology, as it results in improved efficiency and ultimately leads to higher productivity. He noted that productivity increases when SMEs focus on progress, rather than perfection.
According to Inuwa, there is a significant impact on the economic survival of the nation if technology is embraced. He said, “Technology utilisation exerts a significant impact on the economic survival of nations, particularly, in today’s high-technology market where technological innovations are rapid and disruptive. This has become the gains derived from the adoption and adaptation of existing technologies while also investing in the creation of new technologies to ensure sustained growth in Nigeria’s SMEs.”
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In addition, the DG acknowledged that technological progress allows for efficient production of superior goods and services by SMEs, which are the drivers of global economic growth. “They play a major role in the economies of all the countries in the world by their contribution to national economic growth and employment. SMEs contribute greatly to job creation and overall economic growth,” he added.
To support the recovery of SMEs from the COVID-19 pandemic, the AEA Chief Executive Officer, Malam Shehu Abdulquadir, revealed that the Agency has disbursed N200 million to 850 SMEs in Abuja, and by next month, it is expected to disburse other tranches of 3.5 million USD to over 2,500 SMEs.
He said beneficiaries of the first tranches have retired the grant disbursed by the Agency from the World Bank, assuring that “we are going to get more people from diverse stakeholders across all the six councils in the FCT to benefit from it.”
The AEA CEO described the theme as very apt because the outbreak of COVID-19 has brought a lot of disruption, which has made technological adaptation compelling. He stated further that supporting SMEs after the pandemic would help them gain their traction back.
The NITDA’s Director General informed that the Agency has undertaken several collaborative initiatives and programmes that are positively impacting on Nigeria’s SMEs.
He listed some of the collaborations to include partnership with Nigeria Export Promotion Council (NEPC) on Digital Marketing for SMEs, Gender Techpreneurship Workshop for Women, partnership with the AEA on Digital Innovation Training for 300 secondary school students in the Federal Capital Territory, and many more.
