Expert Certifies SME As Basic Tool For Nigerian Economic Transformation

Posted by African Examiner Business News, Latest Headlines Tuesday, November 24th, 2015

By Tajudeen Balogun

Small and Medium enterprises (SMEs) have been certified as the alternative “engine room” for the Nigerian socio and economic development and transformation.

This assertion was made by a Management Consultant and Marketing Research Solutions Expert, Dr. Jubril Salaudeen, while delivering a paper at the just concluded two day bi-annual National Convention of the Moshood Abiola Polytechnic Abeokuta Muslim Alumni (MAPAMA) in Abeokuta, the Ogun State capital.

While discussing the theme of the Convention, “Crystalizing Business Development With Creative Innovation”, Dr. Salaudeen, tasked Muslim professionals to begin to create “a path, where there is no way” and cautioned against waste of the economic resources.

On prospects, the Speaker reasoned that there was hope for the Nigerian economy despite the present hard times, as he submitted “when things are tough, it gives room for solutions”.

Speaking on the pragmatic approach to business development, Dr. Salaudeen who is also the Managing Director of the Citiserve, an e-payment solution firm, urged MAPAMA Leadership to go beyond mere paper presentation level, instead, should extend the practical discussion to the members of the organization.

With respect to the choice of products, Dr. Salaudeen urged prospective entrepreneurs to produce items that have large market as well as those that have niche.

He cautioned against producing a product which is not trending, or that cannot thrive in the competitive market.

According to the Speaker, a proactive entrepreneur must be assertive; creative and sociable and always takes a “calculative risks”.

Dr. Salaudeen who blamed Muslims for not doing well in partnership, called on the prospective entrepreneurs, to engage tested and trusted advisors; be ready to take responsibility for every action taken; “be wide in thought and relationship” and avoid cloning others.

Other tips he gave were the need for upcoming business owners to be unique and discharge their responsibilities as diligent as possible.

Dr. Salaudeen who is also a SME and microfinance expert, offered in line with the Nigerian business environment and present state of the economy, recommended some lucrative areas of business for the Nigeria industrialists and SME operators. The areas of concentration according to him include: food, which he said was apt for a growing population like Nigeria; health as the possibility of impair health will be high due to human labour stress; transportation, which provides movement of goods and labour as well as power, which he observed is the bedrock of every developing economy to advance to an enviable level.