The Development and Allied Policy Studies Research Cluster under the Institute of Nigeria-China Development Studies (INCDS), University of Lagos (UNILAG) has presented its research findings at a Stakeholders’ Engagement/Dissemination Workshop held on Tuesday, May 21, 2024 at the Faculty of Social Science Boardroom, UNILAG.
The research findings brought to the fore the socio-economic characteristics of export-oriented Small and Medium Enterprises (SMEs) as well as its participation in Global Value Chains (GVCs), and export intensity in the context of Nigeria.
Professor Tajudeen Yusuf, the Principal Investigator, and convener of the TETFund-sponsored Workshop delivered an insightful presentation under the theme “Institutional Quality, SMEs Productivity, Global Value Chains Participation and Export Intensity in Nigeria.“
The presentation captured SMEs as vital contributors to Nigeria’s economy, accounting for a significant portion of its employment and Gross Domestic Product, (GDP). Professor Yusuf pointed out the various challenges that affect the productivity levels of SMEs. These include limited access to finance, inadequate infrastructure, high operating costs, lack of skilled labor, regulatory burdens, and limited technological capabilities.
His word “The challenges associated with institutional quality, SMEs productivity, global value chains participation, and export intensity in Nigeria are complex and interconnected. Addressing these challenges requires comprehensive reforms across multiple sectors to create an enabling environment for businesses to thrive domestically and compete globally”.
While highlighting the key findings and recommendations of the research, Professor Yusuf emphasized the importance of institutional quality in enhancing SME’s productivity and export intensity in Nigeria; the need for policy reforms to improve the business environment and encourage SMEs participation in global value chains, as well as adoption of strategies to enhance export competitiveness and diversification in Nigeria.
Earlier in his welcome address, Director of INCDS-UNILAG where the Development and Allied Policy Studies Research Cluster is domiciled, Professor Olufemi Muibi Saibu acknowledged the efforts put into the research project over a period of three (3) years. He explained that the engagement/dissemination workshop is aimed at sensitizing the public on the findings of the research cluster, and drive attention to the SMEs sector in Nigeria.
Professor Saibu also emphasized the importance of enhancing SMEs productivity and export intensity in Nigeria. According to him, “the SME sector is critical to Nigeria’s economic development, and we must identify strategies to improve their productivity and competitiveness in global markets through conversations like this before we now have the final output for further action and to improving our world.”
He expressed optimism that the outcome of the research project would be captured in a policy paper which would contribute significantly to Nigeria’s economic development and growth strategies, particularly in the areas of SME development and export promotion.
Similarly, Mr. Samuel Oluwole who represented the Acting Director of the Research Management Office (RMO), Dr. Olasumbo Olusanya at the event, expressed delight at the success of the project.
According to him, “This workshop has provided a valuable platform for stakeholders to exchange ideas and collaborate on future initiatives. Similar workshops have been organized by the Centre for Housing and Sustainable Development (CHSD), Centre for Economic Policy Analysis and Research (CEPAR), so this is the third in the series”.
Participants at the workshop engaged in lively discussions and presentations, as well as shared insights and experiences on ways to enhance institutional quality, promote SME growth, and increase Nigeria’s participation in global value chains.
The workshop which also featured a questions and answers session concluded with a call to action, encouraging stakeholders to work together to implement the recommendations and strategies discussed during the event.
Report: Bayo Salau
Photographs: Boluwatife Adeniran (Student Volunteer)
