Strategic Partnerships: ACCI’s Blueprint for SME Expansion & Risk Mitigation

The Abuja Chamber of Commerce and Industry (ACCI) has reaffirmed its commitment to partnering with government and other relevant stakeholders to refine policies that support Small and Medium Enterprises (SMEs).

Mr Agabaidu Jideani, Director-General of the ACCI, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja on Monday.

Jideani said that the collaboration would enhance the SMEs by providing financial support through loans or grants, adding that such efforts can help them overcome financial challenges.

He said that the partnership would expand businesses, thereby helping to refine policies that could support economic growth.

“Abuja remains a vibrant hub, and the ACCI is committed to partnering with the government to refine policies, support SMEs, and drive inclusive growth.

Supporting the SMEs will help them expand into new markets and offer them valuable expertise and guidance to improve their operations.

“By partnering with government and other relevant stakeholders, businesses can help refine policies that support economic growth, innovation, and development,” he said.

Jideani said that the partnership would also ensure that policies were practical, effective and beneficial to all stakeholders.

Jideani said that the ACCI had strengthened its advocacy initiative driven by the chambers’ National Policy and Advocacy Centre (NPAC) through strategic partnerships with various local and international organisations.

He listed the organisations to include European Union (EU), United Nations Development Programmes (UNDP), Small and Medium Enterprise Development Agency (SMEDAN), and the Ministry of Industry, Trade and Investments.

He said that the partnership had advanced data protection and creative industry growth, thereby safeguarding sensitive information from unauthorised access, and expanding and developing industries that focus on creative expression, innovation, and intellectual property.

The director-general said that the chambers’ focus on SME insurance and gender-inclusive policies underscores its commitment to ensuring strong development.

He said that “SME Insurance” was a range of insurance products and services designed specifically for SMEs.

“These insurance policies help SMEs to manage various risks, such as insurance coverage for losses due to business disruptions and protection against claims for damages or injuries,” he said.

While assessing President Bola Tinubu’s two-year administration on government policies and their impact on businesses and economic growth, Jideani said that the administration pursued ambitious reforms with positive intentions.

He said that the administration, anchored on the “Renewed Hope” agenda, had addressed structural inefficiencies, boosted private sector growth, and positioned Nigeria as a competitive economy.

According to him, the policies have, however, produced mixed results, with notable achievements tempered by significant implementation challenges.

“A commitment to fiscal discipline, market liberalisation, and infrastructure development has driven the administration’s policies. The reforms have delivered measurable gains,” he said. (NAN)