- July 7, 2021
- Posted by: adminer
- Category: Trade and Industry
The Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with Nicky Okoye Foundation (NOF) for implementation of the African Enterprise Initiative (AEI), to spur entrepreneurship and global market access.
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, during the MoU signing on Tuesday in Abuja, also inaugurated the Board of Advisors to commence the AEI implementation.
The initiative is founded by Nicky foundation and designed to mobilise domestic investments, capacity building and provision of access to global markets for Nigerian businesses especially, the Micro, Small and Medium Enterprises (MSMEs).
The minister noted that the ministry was particularly focused on the drive to stimulate establishment of more indigenous MSMEs and support existing ones to grow at global levels.
Adebayo said 2021 marked the commencement of African Continental Free Trade Area (AfCFTA) as well as the commencement of global investments drive and efforts designed to rebuild the global economy after COVID-19 pandemic knockdown.
“Both occurrences can produce either negative or positive results depending on how they are managed,” the minister said.
He said that it was in the light of these that the ministry unveiled the strategic partnership for the initiative with the foundation.