Tinubu’s weapon for economic transformation is MSMEs – VP Shettima

Vice President Kashim Shettima has highlighted President Bola Tinubu’s commitment to empowering Micro, Small, and Medium Enterprises (MSMEs) as a crucial driver of the nation’s economic development.

Speaking during his visit to exhibition stands at the BRICS Trade Fair, in South Africa on Wednesday, Shettima emphasised the significance of empowering MSMEs, especially youth and women, in contributing to economic advancement.

“Empowering MSMEs is integral to boosting our youth and women’s contributions to the nation’s economy,” stated the Vice President.

He applauded President Tinubu’s compassion and leadership, expressing optimism about forthcoming positive changes in Nigeria.

He commended the trade fair’s organisers for assembling 180 exhibitors representing diverse sectors of the economy, saying such exhibitions promote investment and trade across the continent.

Inspecting Nigeria’s exhibition displays, the Vice President praised Nigerian investments in South Africa and lauded their’ contributions to the digital economy, fashion industry, and mining sector, emphasising their positive impact on the African continent.

The Trade Fair is being organised by the BRIC South Africa and The SA BRICS Business Council (SABBC) in collaboration with the Department of Trade, Industry and Competition, on the side-lines of the on-going 15th BRICS Summit.

Africa offers vast potential for growth


Luiz Inácio Lula da Silva, Brazil’s President, said in a speech at the summit that Africa offered vast opportunities and enormous potential for growth and advocated closer ties with the continent.

“Brazil is back on the continent; it should never have left.” said the Brazilian President.

The BRICS group is composed of Brazil, Russia, India, China, and South Africa.

The meeting was also attended by the President of South Africa, Cyril Ramaphosa, and the Prime Minister of India, Narendra Modi.

Chinese President Xi Jinping and Russian President Vladimir Putin did not attend but sent representatives.

BRIC to BRICS

BRICS is a grouping of the world economies of Brazil, Russia, India, China, and South Africa formed by the 2010 addition of South Africa to the predecessor BRIC.

Numerous other countries have expressed interest in joining the bloc, including Argentina and Iran. Both signaled their intent to join BRICS during meetings with senior Chinese officials, the current BRICS chair in 2022.

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