Revitalizing the Nigerian Economy Through MSMEs, Entrepreneurship, International Trade and Investment in a Digital Age.

IBD Annual Conference 2022

Learn more

Conference countdown:

About our 2022 Conference

This conference is of high strategic importance as it comes at a time when the Nigerian economy has taken a great hit from COVID-19 and subsequent economic downturn, spiraling inflation, constrained purchasing power leading to reprioritization of expenditure by individuals, families and businesses. The situation is made worse by being a largely mono-product economy, a struggling agriculture and agro-allied industry and a practically comatose manufacturing sector. Arising from the development above, the Institute is poised to bring all the identified issues and the relevant stakeholders all on the same table for a deep introspection and dissection of the issues thereof with a view of developing a comprehensive and inclusive framework for the promotion of markets within the ECOWAS region as a first start to building a strong continental market that will be competitive in the struggle for market shares. The institute in exercising their professional relevance will continue to be the mechanism and platform for MSME’s, artisans, government agencies, financial institutions to contribute to the collective economic growth of Nigeria to ensure self-reliance, regional trade integration, quality and sustainable supply. Accordingly, the Institute will be holding this annual conference to bring together all the stakeholders for regional and global policy analysis, dialogue, comparative analysis and advocacy on creating enabling environment.

1

Introduction

The Small and Medium Scale Enterprises (SMEs) are globally recognized as engines of socio-economic transformation. In Nigeria, they are at the heart of a push for economic prosperity. According to a joint survey by Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the National Bureau of Statistics (NBS), SMEs together with micro-scale ventures, contribute almost half of the nation’s Gross Domestic Product (GDP), and employ 76.5 percent of the national workforce while also accounting for 7.64 percent of export receipts. They also make up more than 90 percent of the total businesses in Nigeria.

The development of small and medium sized enterprises is the heart and soul of economic growth and development of any country. Small businesses are regarded as a driver for economic growth, an economic integration tool and an excellent source of employment and revenue generation. In light of this fact and the over-riding need to encourage, foster and accelerate the economic and social development of member States, The Economic Community of West African States (ECOWAS) stipulates the removal of trade barriers and harmonization of trade policies. The ECOWAS trade liberation scheme (ETLS) with an agreement on agricultural, artisanal handicrafts, unprocessed products and industrial products has been adopted by ECOWAS states as a framework for market and trade integration as an engine of growth to allow member states to join the ranks of emerging countries.
2

Purpose & Objectives

The key objectives of the conference will be focused on the revitalization of Nigerian’s economy through MSME’s, Entrepreneurship, International Trade and Investment in Digital Age. Also, to identify and resolve the inhibitors to sustainable development and ease of doing business. Promoting MSME’s sized Enterprises into a common market in West Africa as a critical step towards the development of the continental market.

Furthermore, the conference will also discuss and agree on the needed policy frameworks, legal regimes, trade agreements, the role and engagement of relevant stakeholders in building a common market in our sub - region.
3

Expected Results

To have a common understanding of SMEs and entrepreneurship as a major catalyst in Nigeria’s economic development.
Get Experiences on approaches towards creating and promoting an enabling environment for SMEs.
Establish Agreement on the role of stakeholders in developing SMEs for regional trade integration.

Conference structure

The conference will have two main components:
(i) Plenary Session & Panel discussions
(ii) Group discussions with team leads.

Conference set-up

The conference will consist of an opening session, plenary sessions and discussion group sessions. Furthermore, there will be a session for all the participants to share their experiences, challenges and achievements towards the themes presented.

Conference schedule

This schedule is subject to change; however any changes will be communicated to all attendees via mail.

Day 1 | 8th November
Day 2 | 9th November

SESSION 1: Opening

The Institute

Welcome Remarks -MC

Opening Address -The Registrar/CEO

Special Address - The President of the Institute

Presentation of conference objectives, expected outcome and agenda- The Conference Chairman

9:45 – 10:35 am

Keynote Address :

Otunba Adeniji Adebayo

The Minister of Industries, Trade and Investment

TOPIC: Revitalizing the Nigerian Economy through MSMEs, Entrepreneurship, International Trade and Investment in Digital Age.

10:35 – 11:45 am

Paper 1: An overview of the Nigerian Economic System: MSMEs and its role in economic development

This session will provide an introduction and overview of the Nigerian Economy, MSMEs its key issues and need

11:45 am – 12:15 pm

Paper 2: Entrepreneurship and Policy Making: Stakeholders; Roles & Responsibilities

This session will provide an introduction of stakeholders in the business ecosystem and entrepreneurship. The role of regulators, the policy developers, funding agencies, support institution, institutional development partners, practitioners, informal trader groups.

1:30pm – 2:30 pm

Lunch

2:30 pm - 04:30 pm

Panel Discussions, Q & A, Comments from participants.

Topic 1: Role of MSMEs Economic and Revenue Diversification
Topic 2: Challenges and Feasible Solutions to Growth of Nigerian Entrepreneurs in the Nigerian and African Markets
Topic 3: Ease of Doing Business in Nigeria for Nigerian MSME’s as catalyst for Foreign Direct Investment
Topic 4: Alignment of Policies and Bureaucracy for Facilitation of International Trade for Nigerian MSME’s.

4:30 pm