Small and Medium Scale Enterprises (SMEs) play a pivotal role in Nigeria’s economic landscape, recognized globally as catalysts for socio-economic transformation. These enterprises, in conjunction with micro-scale ventures, make substantial contributions, constituting nearly half of the national Gross Domestic Product (GDP), employing 76.5 percent of the workforce, and accounting for 7.64 percent of export receipts, according to a collaborative survey by SMEDAN and NBS in 2017.
Representing over 90 percent of total businesses in Nigeria, the combined force of Micro, Small, and Medium Enterprises, estimated at approximately 41.5 million, possesses the potential to redistribute wealth, enhance local manufacturing, and diversify the economy.
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In a proactive move, FCMB hosted a workshop in collaboration with key partners on “Energy-Agric Nexus for Rural Economic Development” in Abuja. The event focused on stimulating the agricultural sector through the development of off-grid energy, providing a platform for agribusiness and power sector operators to engage with industry experts and decision-makers on deploying alternative, renewable, clean, and affordable energy sources.
As a member of FCMB Group Plc, a leading financial services institution in Nigeria, FCMB Limited has successfully evolved into a retail banking and wealth management-led group. With a commitment to innovation and exceptional service delivery, FCMB aims to continue distinguishing itself in the financial landscape.
