First Bank of Nigeria (FBN) Plc on Monday expressed readiness to support Small and Medium Enterprises (SMEs) to expand the country’s non-oil sector and tackle recession.
Mrs Bukola Oluyadi, Head, Brand Management, First Bank Plc, gave the assurance in an interview with the News Agency of Nigeria (NAN) in Lagos.
Oluyadi spoke on the sidelines of the second edition of the Fiesta of Flavours, a food and beverage fair showcasing the entertainment, art and business of food.
The event was orgainsed by Eventful Ltd. in partnership with First bank.
NAN reports that the 2016 edition had the theme: ‘’Food, Fun and Family’’.
Oluyadi said that the bank would continue to support SMEs as one of its major markets, to revitalise the economy.
She stated that SMEs would turn around the economy with the right support and development.
“We believe SMEs will make things happen in our economy; in reviving and building this economy, SMEs are the key,” Oluyadi said.
She said that the bank partnered Eventful to organise the food exhibition because of its belief that food was a major revenue earner.
“We believe that food is the next oil, not only edible food but the whole value chain – from the agriculture (farm) to the industry and to our tables,” she said.
According to the official, food had the capacity to turn around Nigeria’s economy, if well harnessed.
“When food is supported, it will be affordable, and once a nation can feed itself, there will be growth and development as well as increase in productivity level,” she told NAN.
Also speaking, Mrs Yewande Zacchaeus, the Chief Executive Officer, Eventful Ltd., commended the bank for its partnership in the food and beverage fair.
Zacchaeus said that the maiden edition of the fair which took place in December, 2015, opened opportunities for exhibitors and SMEsin food businesses.
She said that the event would empower many small businesses to expand their scopes.
Zacchaeus hoped that the fair would enable Nigerians to know that agriculture had the potential to generate much revenue for the country.
“Oil is a thing of the past; we must look for other avenues of revenue generation,’’ she said.
Zacchaeus said that the company would continue to make the event rich and better in the future.
Mrs Omowunmi Ogunshola, Chief Executive Officer, Wummyte Foods, one of the exhibitors, said that the event would create awareness for SMES.
Ogunshola stated that the fair would afford exhibitors opportunities to advertise their products and businesses.
She urged the organisers to increase the number of vendors at the fair in order to achieve the desired aim.
NAN reports that highlights of the event included cooking and baking by children and adults. (NAN)