Stakeholders in Nigeria’s small and medium enterprise (SME) sector have urged both federal and state governments to put in place more business-friendly policies to help homegrown products flourish, emphasizing that this is essential for achieving economic diversification and sustainable growth.
This appeal was made during the Business Engagement Forum and Press Conference for MINE FEST 2025, which took place at the Lagos Chamber of Commerce and Industry (LCCI) in Ikeja, Lagos. The forum served as a platform to promote dialogue on the future of entrepreneurship in Nigeria.
Promoting Nigerian-Made Innovation
Tito Philips, the event’s convener, along with co-convener Mr. Bunmi Kole-Dauda, both emphasized the importance of intentional government support for local manufacturing and innovation. They also called on Nigerians to change their mindset by actively supporting and purchasing Made-in-Nigeria goods.
Describing MINE FEST 2025 as more than just an event, Philips said it’s a national movement celebrating Nigerian creativity and craftsmanship. The initiative seeks to spotlight Nigerian-made products and position them for global recognition.
“Backing local production and consumption isn’t just patriotic—it’s strategic,” Philips said. “It empowers SMEs and moves us closer to reducing reliance on oil revenues. Nigeria’s future lies in supporting its industries and promoting self-reliance.”
He further called for collective responsibility, inviting stakeholders from all sectors—government, investors, media, and civil society—to become active contributors in building a more resilient local economy.
Recognizing Nigeria’s Emerging Business Leaders
Philips also announced that MINE FEST 2025, scheduled for October 16–17, will feature a conference, exhibition, and award ceremony, highlighting 40 outstanding young entrepreneurs who are driving innovation and economic progress.
“These young changemakers are the architects of Nigeria’s tomorrow. It’s our duty to support and celebrate them,” he said.
Restoring Trust in Local Products
Speaking on consumer behavior, Mr. Kole-Dauda emphasized the need to restore confidence in local brands, pointing out that trust is fundamental to shifting away from import dependency.
“When consumers believe in what is produced locally, standards naturally rise,” he noted. “Support begins with trust, and trust is built through consistency and commitment.”
He added that the upcoming festival is expected to draw over 300 physical attendees, with more than 1,000 participants joining virtually. The event will also honor SMEs that have remained operational for at least four decades, showcasing resilience in Nigeria’s challenging business environment.
A Call for Collaboration
The forum concluded with a strong message: collaboration between government, private investors, and development partners is crucial to powering Nigeria’s local enterprise ecosystem. Stakeholders agreed that a strong SME sector is the backbone of economic independence and national progress.
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