Nigerian Economic Summit: SMEs to Get Financial Support
The Chairman of the Board of Directors of Nigerian Economic Summit Group, NESG, Kyari Bukar, has made it known that not less than eight startup businesses will have the opportunity to pitch for financing from investors at the ongoing Nigerian economic summit in Abuja.
He disclosed this in his welcome speech at the event. According to him, Startups Pitching Event will hold at this year’s summit to connect Nigerian entrepreneurs seeking to raise funds with potential investors.
He said during the three weeks the application portal was opened, NESG got 263 applications from startups across the country
He added that after the screenings, eight selected early-stage startups have been invited to pitch to potential investors and venture capitalists.
“There will be a jury to select the top three startups. We believe that the show of support for small businesses will inspire even greater funding for micro, small and medium sized companies that are in dire need of capital and business advisory services,” he said.
Mr. Bukar also called on corporate organisations to support the initiative by providing capital either as private equity, venture capital or impact investment to the startups.
He added that NESG is increasing its focus on state governments that are willing to dialogue with them to address competitiveness and the ease of doing business on the sub-national level.
“Only a robust engagement with the private sector can deliver the inclusive growth that the various state governments strive to attain,” he added.
Speaking on the theme, he said “we have structured the summit theme on five sub-themes that will serve as our thematic pillars: ‘Think Nigeria’, Skills, Competencies and Capacity, Access to Capital, Legislation and Economic Inclusion’.
“We have convened this year to discuss the measures that must be taken to actualise the Economic Recovery and Growth Plan in order to expand economic opportunities, improve productivity and create jobs for Nigerians
“The Jobs Report released by the National Bureau of Statistics has shown clearly that our demographic dividend will soon become a demographic bomb if we do not confront the tri-issues of opportunities, productivity and employment,” he added.
The 23rd Nigerian Economic Summit is jointly organized by the Nigerian Economic Summit Group (NESG) and the Federal Ministry of Budget and National Planning.