The high unemployment and poverty rates in Africa can only be resolved through internal initiatives targeted at improving the livelihoods of the locals. Given the fact that access to education is severely impacted and minimalistic in African countries, governments must think of ways of supporting the informal employment sector to help locals to achieve self-employment. In Nigeria, this concept is well supported through government and non-government institutions initiatives. Nigerian communities are often targeted by well-structured and well-built cottage industries.
The support for the Nigerian cottage industry development, as well as other small and medium enterprises, has a dual impact on Nigerian communities. Firstly, the concept helps locals to achieve self-employment, thereby helping to substantially boost their livelihoods.
Secondly, the idea has become a game changer as far as helping the Nigerian economy to flourish. With the largest population density in Africa, Nigeria propagates the idea of cottage industries by establishing a committed council that renders significant assistance to locals to grow their SMEs.
The export development fund can also help Nigerian communities to fund the pre-shipment of goods from outside the country to facilitate their small businesses. The Nigerian Export Promotion Council has been on the forefront as far as supporting small companies to work with big companies through collaborative initiatives and outsourcing for raw materials for production.
The shea butter industry in Nigeria is so well advance and attracts clientele from within the country and beyond. The internal benefits that Nigerians have reaped from propagating the shea butter production and processing plants in the country have made it possible for thousands of Nigerians to be employed directly and indirectly.
Stakeholders in the entire informal employment sector, spearheaded by the export promotion council, have also been involved in other activities targeting boosting the livelihoods of the locals. The government and other stakeholders have, for instance, partnered in helping nurture young talent through formal and informal talent impartation and talent growth. Enthusiastic business owners and entrepreneurs are not only given startup capital but also nurtured throughout the various stages of business establishment.
Such training helps boost the local population’s capacity to become competitive locally and internationally. Through collaborative efforts, Nigerian communities, working in conjunction with the government, have been able to build and support cottage industries as part of an initiative to boost the economic capabilities of the locals.