Nigeria, April 14 -- Nigeria's small and medium enterprises (SMEs) are the backbone of its economy, contributing significantly to employment, innovation, and GDP growth.

However, many businesses are currently struggling under the weight of inflation, high operational costs, multiple taxation, poor infrastructure, and an unfavourable policy environment.

The harsh business climate has forced many SMEs to shut down, leading to job losses and a slowdown in economic activity. If Nigeria is to revitalise its SME sector and harness its full potential, urgent and strategic interventions are needed.

One of the biggest challenges facing SMEs today is inflation, which has drastically increased the cost of raw materials, rent, utilities, and wages...