UNDP’s Commitment to SME Growth in Abuja & Nigeria
The United Nations Development Programme (UNDP) has reaffirmed its dedication to fostering the growth of small and medium enterprises (SMEs) in Nigeria.
Ms. Elsie Attafuah, UNDP Resident Representative in Nigeria, highlighted the significance of supporting the over 40 million micro, small, and medium enterprises (MSMEs) in the country, emphasizing their critical role in job creation and economic stability.
As part of its commitment to economic empowerment, UNDP has introduced the Timbuktu Initiative, a transformative program designed to drive entrepreneurship and innovation. This initiative, developed in collaboration with Nigerian public universities, is set to launch The University Port by May. The program aims to empower at least 10,000 startups, providing a platform for young entrepreneurs to scale their businesses and contribute to Nigeria’s economic advancement.
Harnessing Diaspora Investment for Nigeria’s Growth
Recognizing the immense potential of the Nigerian diaspora, Senator Natasha Akpoti-Uduaghan, Chairperson of the Senate Committee on Diaspora Affairs and NGOs, underscored the need to leverage diaspora resources to fuel local entrepreneurship. She called for increased investment from Nigerians abroad, encouraging them to channel their funding, expertise, and technology into local businesses to enhance productivity and expand Nigeria’s export capacity.
The senator also addressed the pressing issue of the "Japa" syndrome, which sees skilled Nigerian professionals migrating in search of better opportunities. She emphasized the importance of creating local opportunities that can incentivize Nigerians to remain and contribute to national development.
Empowering Youth Through Skills Development
In line with efforts to equip the next generation with essential skills, Olawande Ayodele, Minister of State for Youth Development, announced the federal government’s plan to establish the Nigeria Youth Academy. This initiative will provide skill development programs in local languages, enabling Nigerian youth to gain practical expertise and increase their employability. By nurturing homegrown talent, the academy aims to reduce unemployment and promote economic self-sufficiency.
A Call to Action for Nigerians in the Diaspora
With initiatives like UNDP’s Timbuktu Initiative,
SMEDAN’s SME empowerment programs, and the Nigeria Youth Academy, the foundation is being laid for a more vibrant and sustainable economic future in Nigeria. However, achieving this vision requires the active involvement of Nigerians in the diaspora.
Now is the time for Nigerians abroad to invest, collaborate, and contribute to the nation’s economic transformation. Abuja, as Nigeria’s capital and a hub for innovation and business, presents numerous investment opportunities across sectors such as real estate, technology, manufacturing, and tourism.
To explore investment prospects and contribute to Nigeria’s growth, contact AbujaCity.com—a platform dedicated to connecting Nigerians in the diaspora with business and investment opportunities in Abuja and beyond. Together, we can build a stronger, more prosperous Nigeria.
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