…Seun Faleye, MD of NSITF, drives initiative for SMEs’ empowerment

The Nigeria Social Insurance Trust Fund (NSITF) and the Bureau of Public Procurement (BPP) have solidified a partnership aimed at empowering Small and Medium Enterprises (SMEs) across the country.

The initiative is designed to improve SME compliance with procurement standards, making them better positioned to access government contracts and contribute to national development.

Seun Faleye, Managing Director of NSITF, highlighted the importance of the partnership, stating that the collaboration underscores the commitment of the NSITF to creating opportunities for SMEs to thrive.

“SMEs are the backbone of our economy, and this partnership is a strategic step toward fostering their growth and ensuring they meet the standards required to participate in public procurement. At NSITF, we are committed to supporting this sector through initiatives that promote sustainable development,” Faleye remarked.

The Director-General of the BPP, Mamman Ahmadu, echoed similar sentiments, emphasizing the need for inclusive policies that empower SMEs to partake actively in government procurement processes.

“This collaboration will provide SMEs with the tools and guidance needed to meet compliance standards, which is vital for their participation in public tenders. It’s a step forward in ensuring transparency and inclusiveness,” Ahmadu said.

Both agencies reiterated their dedication to implementing this partnership effectively, noting its potential to transform the SME landscape and contribute significantly to Nigeria’s economic growth.