The Bank of Industry (BOI) has highlighted the crucial role that artisans play in driving inclusive economic growth in Nigeria. During a recent conference, BOI officials underscored that empowering artisans and supporting their businesses can significantly contribute to the nation’s economic development and job creation.
Artisans: The Backbone of the Economy
In his keynote address, the Managing Director of BOI, Olasupo Olusi, emphasized that artisans are essential to the economy. “Artisans are the backbone of our industrial sector. They create jobs, enhance local production, and contribute to community development,” he stated. Pitan noted that the skills and craftsmanship of artisans can drive innovation and improve productivity across various sectors.
The BOI recognizes that the informal sector, where many artisans operate, is vital for economic stability. By supporting this sector, the bank aims to promote entrepreneurship and foster economic resilience. “When we invest in artisans, we invest in the future of our economy,” Pitan added.
To this end, BOI has launched several initiatives aimed at providing financial support and resources to artisans. These initiatives include access to microloans, training programs, and mentorship opportunities designed to equip artisans with the skills necessary to grow their businesses. “We are committed to creating an enabling environment for artisans to thrive,” Pitan affirmed.
Bridging the Skills Gap
The BOI also emphasized the need for bridging the skills gap among artisans. Many skilled workers lack access to formal training, which limits their potential for growth. Pitan called for collaboration between government agencies, educational institutions, and the private sector to develop comprehensive training programs tailored to the needs of artisans. “We must ensure that our artisans receive the training necessary to adapt to changing market demands,” he said.
Furthermore, Pitan stressed the importance of integrating technology into artisan training. With the rise of digital platforms, artisans can enhance their skills and reach broader markets. “By embracing technology, artisans can not only improve their craft but also expand their customer base,” he explained.
The BOI is also advocating for policies that recognize and celebrate the contributions of artisans to the economy. Promoting local craftsmanship can boost national pride and encourage more individuals to pursue careers in skilled trades. “We need to elevate the status of artisans in our society and highlight their vital role in economic growth,” Pitan concluded.
In summary, the Bank of Industry’s focus on the importance of artisans underscores their potential to drive inclusive economic growth in Nigeria. By investing in training, providing financial support, and fostering collaboration among stakeholders, the BOI aims to empower artisans and enhance their contributions to the economy. As Nigeria continues to seek sustainable development, recognizing and supporting artisans will be essential for building a more inclusive and prosperous future for all citizens.
