Canada supports Nigerian SMEs to access global markets
The Trade Facilitation Office of Canada has launched a five-year programme to support 200 Nigerian small and medium-sized enterprises, boosting their export capacity and access to international markets.
The programme, funded by the Canadian Government through Global Affairs Canada, will support 200 SMEs in Nigeria, with 67 per cent of beneficiaries expected to be businesses owned or led by women and other underrepresented groups.
Speaking at the launch of the Trade for Resilient, Inclusive and Sustainable Economic Growth programme in Abuja on Thursday, the President, Abuja Chamber of Commerce and Industry, Chief Emeka Obegolu, said the initiative would help address some of the challenges limiting the ability of Nigerian SMEs to compete in international markets.
Obegolu said many Nigerian businesses had the potential to compete globally but were constrained by limited access to finance, market information, digital tools and institutional support.
He said the project would strengthen Trade Support Institutions to provide more inclusive and gender-responsive services to SMEs.
The ACCI president also highlighted the project’s SME Climate Resilience Fund, which will provide support for technical assistance, digital resources, training and the development of investment plans aimed at improving environmental sustainability and climate resilience.
According to him, the support was important for Nigerian businesses seeking to become more competitive while adapting to environmental and climate-related challenges.
“Today should not be simply a validation exercise where we confirm what has already been written. It should be a platform for refinement, prioritisation and action,” Obegolu said.
Obegolu urged stakeholders at the workshop to identify the major barriers preventing Nigerian SMEs from accessing international markets and determine areas requiring institutional reforms, capacity building, financing and digitalisation.
He also called for stronger links among SMEs, financial institutions, Trade Support Institutions and international buyers.
TFO Canada Executive Director Steve Tipman said the organisation is committed to helping Nigerian SMEs strengthen their export readiness and access new markets.
“TFO Canada is proud to support small and medium enterprises in Nigeria to strengthen their export readiness and access new opportunities in foreign markets – turning market access into sustainable economic growth,” Tipman said.
Tipman explained that the programme will support SMEs through market intelligence, business coaching, export development, digital strategies and connections with Canadian and international buyers.
The organisation said TRISEG would target 3,200 SMEs across the 16 participating countries, including 2,133 businesses owned or led by women and other under-represented groups.
Tipman said the programme would also provide trade information through its online platform, with an expected reach of more than 5,550 SME beneficiaries across the participating countries.
The participating African countries are Côte d’Ivoire, Ethiopia, Kenya, Madagascar, Mozambique, Nigeria, Senegal and Zambia, while Bangladesh, Indonesia, the Philippines and Vietnam are participating in Asia.
Colombia, Guatemala, Honduras and Peru are the participating countries in Latin America and the Caribbean.
to like, bookmark, and comment.
Comments
Join the conversation:
No comments yet. Be the first to share your thoughts.