• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      Decent first 2021 auction for DMO, but drive to finance FGN deficit still poses a challenge

      13 hrs

      Finance

      Exposing Nigeria’s vulnerabilities: Covid-19, crude oil downsides from weak global macro environment

      13 hrs

      Finance

      Nigeria, Africa remittances on target as Wari, Lycaremit sign partnership

      January 21, 2021

      Companies

      Total Nigeria, Mixta, Valency, list new CPs on FMDQ platform to enhance financial markets development

      January 19, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Frontpage

      SDG: Covid-19 magnifies financing gap in developing countries by 70%, says OECD

      10 hrs

      Frontpage

      Africa startups received $2.44bn investment with marginal drop in 2020

      22 hrs

      Markets

      Nairobi Stock Exchange pushes expansion plans with more listings in 2021, says CEO

      January 23, 2021

      Africa Investment Forum

      Africa’s $60bn losses in illicit capital flows due to multinationals’ tax avoidance, says AfDB Adesina

      January 22, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Oil and Gas

      Nigeria’s electricity DisCos create imbalance costing N20.5bn in 3 weeks  

      January 26, 2021

      Companies

      Appeal Court suspends order against shutting of SEPLAT headoffice

      January 23, 2021

      Frontpage

      OPEC welcomes push for electric vehicles, but says fossil fuel remains strong

      January 21, 2021

      National: Governance, Policy & Politics

      Nigeria ramps up domestic LPG consumption above 1MMT, says PPPRA

      January 20, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      Misconstruing Data Protection Officer function within organisations

      January 25, 2021

      Analyst Insight

      CBN meeting and NSE in focus

      January 18, 2021

      Analyst Insight

      Once again, fiscal stimulus takes centre stage

      January 18, 2021

      Analyst Insight

      Organisations must learn from the WhatsApp story  

      January 18, 2021

Frontpage Lagos

Stakeholders urge Lagos to leverage NGOs for effective implementation of N5bn LEAP

November 25, 2020179 views0 comments

By Hamid Ayodeji

 

  • MSMEs should approach strategically

 

Following the recently launched N5 billion Lagos Economic Acceleration Programme (LEAP) aimed at providing capital and economic stimulus for micro, small and medium enterprises (MSMEs) by the state’s administration led by Governor Babajide Sanwo-Olu in order to tackle the negative impact the COVID-19 pandemic has had on the nation’s economy and drive the nation’s efficient economic recovery; stakeholders and experts have expressed that the government should ensure it effectively leverage on existing

Read Also:

  • We project Lagos coconut transaction value to reach N350bn by 2024 –…
  • Lagos opens gateway to 1000 potential youth entrepreneurs with…

non-governmental platforms and organisations that consistently works to identify and engage MSMEs, maintain a database and create a system that helps business owners improve their business activities by granting them access to soft skills through workshops and seminars, whilst it encourages networking amongst the various sizes of businesses in that ecosystem.

This, they explained, would be vital towards building resilient businesses in response to the COVID-19 pandemic which has resulted to some enterprises holding off their business activities, in order to re-strategize their business practices as they pursue sustainable development and growth of their organisations and economy of the country as a whole. While operating a diversity sensitive process for accessing this fund in order to make the selection process seamless and transparent to MSMEs in the state it would also be crucial towards achieving set goals if transparently and adequately implemented.

Commenting on the initiative in a phone interview with Business A.M. Bekeme Masade-Olowola, a member board of directors, Global Reporting Initiative and chief executive officer, CSR-in-Action, said the government needs to be as inclusive of stakeholders’ individuality as possible as it is also an opportunity to acquaint MSMEs owners with the sustainability principles of inclusion, the respect of human rights and developing local content as well as enabling the various economic sectors of the state thrive.

“On the part of entrepreneurs, it would give them more leverage and opportunities if they show professionalism, financial control, ingenuity, a clear understanding of who their stakeholders are, and their sustainability plan due to the fact that If well-resourced and managed, LEAP can yield very long-term benefits for economical transactions in the state and nation,” the CSR-in- action boss added.

Meanwhile, Adenike Adeyemi, executive director Fate Foundation whilst speaking to Business A.M exclusively advised that enterprises before engaging such campaigns need to understand the benefits it would have to their organization and strategically approach it by evaluating the positive and negative impact it could pose to their business transactions and sustainability.

In view of the devastating impact the pandemic and looting of properties and products by hoodlums, Adeyemi maintained that such intervention schemes are essential to the stimulation and recovery of businesses as they are responsible for 76 percent of the nation’s workforce; hence, making funding initiatives as this added value to the productivity of the ecosystem.

The identified high-impact sectors with substantial employment creation opportunities include industries such as education, technology, transport and logistics, healthcare, renewable energy and agriculture, which have suffered a downturn, thereby requiring interventions that seek to increase and secure employment and economic problem solutions.

With Lagos State currently contributing over 30 percent of the national GDP, the state government described LEAP as one of its efforts to lead in reversing a national economic emergency to prosperity, thereby generating increased cases of innovations and employment.

 

Share on Facebook Tweet Email
PreviousMPC retains rates, renewed buying interests in stocks rebound to drive benchmark into green
NextPolice welfare: Presidency fails to act on pension solution

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Unilever Nigeria cuts operating loss significantly as revenue rises 1.3% to N61.6bn
  • Bargain hunters feast on Airtel, MTN, Lafarge as Nigeria bourse swings higher
  • SDG: Covid-19 magnifies financing gap in developing countries by 70%, says OECD
  • Nigerian university agriculture institute researchingflood resistant maize
  • CBN’s MPC keeps MPR at 11.50% in line with analysts’ expectations

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

CBN warns speculators, resumes forex sale to SMEs

Frontpage April 30, 2020

1
2

Analysts blame weakening naira as Nigeria’s inflation hits 12.56% for tenth straight month

Frontpage July 17, 2020

3

Nigeria’s power tariff up 50%, 2 months after earlier rate spike led to face-off

Frontpage January 5, 2021

4

Airport concession: unions protest at Lagos, Kano, Ibadan airports

Aviation August 31, 2020

5

AfDB projects 3.8% growth for West Africa in 2018 on household consumption, commodity price recovery

Frontpage March 13, 2018

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.