In an act to foster development in businesses, the National Productivity Centre and the Pan African Association of Small and Medium Industries have agreed on Memorandum of Understanding to boost SMEs in Nigeria.

The Memorandum of Understanding official signing ceremony took place in Abuja recently.

“The primary aim of this MoU is to create a structured collaboration between NPC and PAOSMI, with a focus on promoting productivity enhancement and capacity building for SMEs across Nigeria,” the centre stated.

The National Productivity Centre and the Pan African Association of Small and Medium Industries outlined the specific area of cooperation to be targeted under the partnerships.

“These include joint capacity-building programmes, sharing of knowledge, advocacy and policy discussions, information exchange, and the provision of technical assistance to SMEs in critical areas such as productivity enhancement and technology implementation,” it explained.

It  noted that the strategic alliance was expected to bring concrete benefits for small and medium-sized enterprises in the country by offering them valuable resources, support, and expertise to help them grow and thrive in a competitive business environment.

“The implementation of joint initiatives and the exchange of best practices between NPC and PAOSMI are set to make a significant impact on the productivity and overall success of SMEs in Nigeria,” it added.