Agriculture
Downsizing Hits Nigerian Small Businesses – Report
Within the last six months, five per cent of small business (SMB) owners in Nigeria have been forced by economic realities to reduce the size of their workforce by five per cent while in Ghana, the figure is 16 per cent, according to Meta’s latest Global State of Small Business Report released yesterday.
Meta, which is Facebook’s parent company, said as the pains of COVID-19 pandemic wanes, the most significant challenges SMBs are facing now is the current state of the economy, supply chain disruption, inflation, fear of economic recession as well as skyrocketing production costs.
According to the report, due to the state of the economy, within the past six months, five per cent of SMB owners in Nigeria have been forced to reduce the size of their workforce while in Ghana, the figure is 16 per cent.
Meta, however, said the festive season is a critical period for small businesses as the Report showed that 25 per cent of SMB owners expect to make more than half of their annual revenue in the final months of the year.
While SMBs fight to find their footing during this post-COVID era and navigate the current economic situation, Meta technologies have been instrumental in helping local businesses thrive and have their good ideas discovered.
In the lead up to the festive season, Meta had launched the ‘Good Ideas Deserve to Be Found’ campaign to further build on the success of the campaign first launched last year. The campaign is aimed at spotlighting and celebrating local businesses with unique gifting ideas while encouraging holiday shoppers to support local businesses during this festive trading window.
Speaking on the report, Corporate Communications Manager for Anglophone West Africa at Meta, Oluwasola Obagbemi, said: “At Meta, we are committed to empowering SMBs with free skills and resources to help them build thriving businesses, develop meaningful connections, and unlock economic potentials so they can continue making a positive impact across the world.
“This festive season, we seek to spotlight and tell the stories of SMBs with unique gifting ideas and provide SMBs with access to tools, support, and solutions needed to grow thriving businesses while reinforcing our continued support of small businesses to ensure they have a voice and ensure the right customers find their good ideas.”
According to Meta, when surveyed, 49 per cent of SMBs in Ghana reported using digital tools for advertising and 59 per cent of SMBs in Nigeria reported generating at least 25 per cent of their sales through digital channels in the past 30 days.
It was also revealed that 46per cent of operational SMBs in Nigeria on the Facebook app reported having sold their goods or services to customers in other countries in the past five years. This compares to the global average of 30per cent.
These discoveries have been made possible through the provision of digital tools for SMBs to ensure they are found by the right customers.
Federal Government and the Ogun State Government, on Wednesday, distributed farm inputs to farmers as part of effort to address food security challenge.
The State Director, Federal Ministry of Agriculture and Food Security, Dr. Toyin Ayo-Ajayi, during the flag-off ceremony of Inputs Redemption Under The National Agricultural Growth Scheme-Agro Pocket (NAGS-AP), in Ogun State, disclosed that beneficiaries of the gesture were primarily rice, maize and cassava farmers across the State.
Ayo-Ajayi commended the Ogun State Government for partnering with the government at the centre for the effort in supporting farmers with inputs that would bring about yieldings for local consumption and likely exportation.
She noted that government is supporting rice, cassava and maize farmers with inputs worth N212,000; N189,000 and N186,000 respectively.
The Permanent Secretary in the State Ministry of Agriculture, Mrs Kehinde Jokotoye, who represented the Commissioner in the Ministry, Bolu Owotomo, stated that traditional farmers are critical in food production, hence the need to encourage and support them with inputs that would bring about desired results during harvesting.
Owotomo said: “Let us make good use of this opportunity, so that the success of this phase will make farmers benefit more from the state and federal governments of Nigeria.”
Earlier, State Coordinator, Federal Ministry of Agriculture and Food Security, Dr. Oluwatoyin Ayo-Ajayi, appreciated the present administration for partnering with the federal government for the initiative, adding that the programme is designed to support farmers at the grassroots level in cassava, rice and maize with inputs such as, seeds, pesticides, herbicides and fertilizers, to boost their production and enhance their livelihood.
The Niger State Government has mapped out 10,000 hectares of farmland in Gbapo Community of Katcha Local Government Area of the State for smallholder farmers to benefit from the state government’s agricultural intervention programme.
Two thousand out of the 10,000 holders of the farmlands have already received inputs.
At a flag-off ceremony in Yinti Village, the facilitator of the programme, Shinkafan Nupe, Malam Idris Usman Makanta, assured the farmers of increased distributions to the mapped-out ten thousand (10,000) farmlands if farmers respond positively.
He explained that the commencement of the two thousand is to measure the positive response of farmers before obtaining full-scale support.
Malam Makanta stated that this initiative aligns with the farmers’ initial commitment through Niger Foods, whose mission is primarily geared towards establishing efficient and profitable agricultural businesses to support the present administration of Governor Mohammed Umaru Bago’s quest to boost agricultural productivity in the state.
He also commended Niger Foods for their steadfastness and resilience in the effective implementation of the input financing scheme.
Makanta reiterated the commitment of the State Governor in making judicious use of the arable land in the state.
Shinkafan Nupe, therefore, urged the farmers to support the Governor by using the inputs wisely so that the dream can be actualised.
The Gombe State Government has empowered a total of 573,429 farmers and entrepreneurs under the 4th phase of the GO-CARES programme.
The programme was officially flagged off by Governor Inuwa Yahaya in another major step towards alleviating poverty and supporting the state’s vulnerable populations.
The Governor, while inaugurating the disbursement in Akko Community of Akko Local Government Area, restated his administration’s commitment to the welfare of vulnerable citizens in the state.
He was represented by the Commissioner for Budget and Economic Planning, Salihu Baba Alkali, who is also the Chairman of the Steering Committee on GO- CARES implementation.
“The 4th phase of GO-CARES will directly and indirectly impact a total of 573,429 citizens across the state. Of these, 152,429 individuals will benefit directly through cash transfers, livelihood grants, agricultural inputs, and operational grants to small businesses”, he stated.
The Governor added that, “421,000 people will be indirect beneficiaries through infrastructural projects such as classroom blocks, healthcare facilities, WASH services, and rural infrastructure projects like culverts and drainages”.
Yahaya, reaffirmed his commitment to ensuring that the state’s most vulnerable citizens are not left behind in the state’s development.
According to him, “Earlier this year, on June 25, 2024, we flagged off the distribution of improved seedlings, fertilizers, and herbicides to less privileged farmers in Malam Sidi, Kwami Local Government Area, signaling the commencement of the 4th phase implementation of GO-CARES under Result Area 2”.
The Governor reiterated that these initiatives have had a significant impact on the livelihoods of beneficiaries and the overall agricultural sector.
He explained that, “Today’s ceremony marked the simultaneous launch of activities under all three GO-CARES Result Areas for the 4th phase. These areas include: State Cash Transfer Grants: 2,500 direct beneficiaries; Labour Intensive Public Works: 2,700 direct beneficiaries; Livelihood Grants: 10,000 direct beneficiaries; and Basic Services: 405,000 indirect beneficiaries”.
