Founder and CEO of MSME Africa, Seye Olurotimi, has urged Nigerian entrepreneurs to embrace technology, innovation, and local resource utilization as pathways to business stability and sustainable growth in the face of ongoing economic challenges.
Olurotimi made this call while delivering the keynote address at the 6th Edition of Beady’s World Production Business Summit, Fair, and Awards, themed “Thriving Beyond Economic Instability: SME Growth with Digital Transformation, Innovation, and Local Resources.”
Drawing from his presentation, he highlighted that while many entrepreneurs are affected by inflation, currency volatility, and rising energy costs, these challenges also create room for creative thinking and new opportunities.
“Instability forces creativity, scarcity drives innovation, and uncertainty demands adaptation,” Olurotimi said, emphasizing that business owners must adopt an opportunity mindset to identify new possibilities even in difficult times.
He explained that digital tools and automation can help MSMEs save time, cut costs, and reach more customers. Olurotimi encouraged entrepreneurs to use affordable platforms such as Paystack, Bumpa, QuickBooks, and Google Workspace to streamline processes and to leverage social media, WhatsApp Business, and analytics for improved customer engagement and visibility.
According to him, technology has leveled the playing field, giving small businesses access to the same tools as large corporations. He also stressed that local sourcing and innovation can help entrepreneurs stay competitive and reduce dependence on foreign materials.
“Local sourcing is not just patriotic; it is strategic,” he said. “Technology gives visibility, innovation brings adaptability, and local resources sustain productivity. These are the levers that will help Nigerian SMEs build resilience.”
Earlier in her welcome address, the convener of the summit, Beady Nanna, described the annual gathering as a platform that celebrates resilience and the creative potential of African enterprise.
“Despite economic uncertainty, Nigeria’s business spirit is alive, bold, and unstoppable,” she said. “When we embrace digital transformation, harness local resources, and collaborate with purpose, we don’t just survive, we soar.”
Representing the chairman of the summit, Senator Anthony Adefuyi, Hon. Gbenga Abdullahi urged entrepreneurs to leverage social media and artificial intelligence to improve business efficiency. He described SMEs as the “original builders of the economy,” commending them for continuously turning challenges into solutions that drive growth.
As Nigeria continues to grapple with inflation and economic pressure, the summit reinforced the urgent need for small and medium enterprises to innovate, collaborate, and adapt, proving that even in instability, Nigerian entrepreneurs can chart their path to sustainability and success.
