Convener of the Lagos Green Economy Forum, Korede Oluwole has said the significance of Small and Medium-Scale Enterprises (SMEs) in Nigeria’s job creation and industrial growth value chain makes it a point of focal attraction for the Forum’s maiden edition which holds in Lagos on Wednesday, July 23.
NewsClick Nigeria, a partner for the Forum reports that the theme is ‘Sustainability in SME Businesses’.
According to reports, SMEs (Small and Medium-sized Enterprises) play a crucial role in the green economy by driving innovation, improving resource efficiency, and reducing their environmental footprint. They can benefit from adopting green practices and technologies, leading to cost savings, improved market positioning, and increased competitiveness. However, they often face challenges such as limited access to finance, lack of expertise, and high costs associated with transitioning to green operations.
Oluwole in an exclusive interview with NewsClick Nigeria said the Forum is a strategic convening of stakeholders committed to advancing Nigeria’s green economy through the empowerment of Small, and Medium Enterprises (SMEs).
Speaking on why the Forum’s first edition is focusing on SMEs, Oluwole said: “In Nigeria, SMEs account for over 46.31% of the national GDP and 6.21% of the country’s gross export. Presently, most SMEs in the country use fossil fuel for electricity production, contributing to environmental degradation. According to the 2022 International Renewable Energy Agency (IRENA) report, Nigeria’s renewable electricity output stands at 18.2%, which is still far from the 30% target by 2030. This 30% target is still achievable in Nigeria with the right strategists in place.
SMEs play a crucial role in job creation and industrial growth. However, their collective environmental impact is also significant. This forum is designed to equip them with the tools, knowledge, networks, and finance needed to transition toward sustainability.”
The Convener explained that select group of seasoned guests have been drawn to do justice to the topic in different panel discussions.
He said apart from the primary aim of empowering SMEs for environmental stewardship, the Forum also set out to: educate the SME sector in Nigeria of their huge contributions to climate change and its effects on the environment; mitigating climate impact through sustainable practices; educate SME players on steps to take towards mitigating the effects of climate change partly caused by their operational procedures – Climate Action, help SMEs access sustainability financing; provide SMEs with the right information on the financing available while planning transiting their businesses into sustainability; building sustainable partnerships; create opportunities for more of the SME organizations to work with large corporations that already have developed their sustainability policies within their organizations.
Oluwole explained further that the Forum will: showcase pathways for MSMEs to adopt sustainable practices; connect MSMEs with financing and market opportunities; facilitate dialogue between corporates, government, and entrepreneurs; drive commitments to reduce emissions and promote a circular economy.
Expected guests at the Forum include: The Lagos State Commissioner for Environment and Water Resources, Tokunbo Wahab; Director-General (DG) of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Sola Obadimu; Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Chinyere Almona.
Others include: Sustainability Manager at 7Up Bottling Company, Lovelyn Okoye; Executive Secretary of the Food and Beverage Recycling Alliance (FBRA), Arese Onaghise; Director of Sustainability at IHS Towers Nigeria, Titilope Oguntuga; Senior Business Adviser at Technoserve, Juliet Ezeani; Vice-President of the Sustainability Professionals Institute of Nigeria (SPIN), Ini Abimbola.
Also on the guest list are: Chief Executive Officer of the Nigeria Climate Innovation Centre (NCIC), Bankole Oloruntoba; Sustainability Manager at United Capital PLC, Paul Osho; ESG and development strategist, Equi Nwabudike; Head of Renewable Energy at First City Monument Bank (FCMB), Chinma George; Senior Manager for Sustainability and shared value at MTN Nigeria PLC, Temilade Olabanji; Vice-President of the Global Shea Alliance, Ali Saidu; Chief Executive Officer at UCEE Microfinance Bank, Esther Adeola-Balogun; Olubunmi Agbaje Managing Director/Chief Executive Officer of TEMOFLAK Nigeria limited, Olubunmi Agbaje; Head of Programs, United Nations Global Compact Network Nigeria, Gloria Okolie.
Prospective participants are to register here to attend.
