MSMEs Make Up 96% of Nigerian Businesses and Provide 87% of Jobs, Minister Says

Minister of State for Industry John Owan-Enoh says micro, small and medium enterprises account for 96% of businesses in Nigeria, contribute about 48% of GDP and provide 87% of employment. Speaking at a town hall meeting with business operators in Calabar, he described MSMEs as the backbone of the economy and urged operators to take pride in their role in productivity and job creation. He said Cross River is working with agencies including SMEDAN, the Bank of Industry and NEXIM to strengthen support for small businesses. He also highlighted plans for technical training, CNG conversion facilities, electric-vehicle infrastructure and local cocoa processing in the state.

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