Nigeria’s Vice-President, Professor Yemi Osinbajo has said that the future prosperity of the country will be enhanced through the development of the business environment, talents and creativity.

Osinbajo, who stated this at the second Micro,Small and Medium Enterprises (MSMEs) Award 2019 held at the State House Banquet Hall in Abuja on Thursday said what Nigeria hoped to be in the next few decades will depend on what the young businesses become.

“What they become depends on the friendliness of the regulatory environment, capital availability and infrastructure, especially power and broadband connectivity.

“So, we recognize that our future national prosperity will be consummated by the handshake between the business environment and talents and creativity.

“This is why we have been working hard on changing the orientation of our regulators even as we digitalize their operations; and there has been progress.

“Regulators are becoming more attuned to the notion that they are first facilitators before being the commercial police and standard enforcers.

“To get more MSMEs to formalize their businesses, the Corporate Affairs Commission (CAC) offered a special 50 per cent discount on business name registration for MSMEs, and recently extended the initial period of this offer by 90 days,” Osinbajo said.

At the event, there were awards for Excellence in Creative Arts, Agriculture, Manufacturing, Technology and Innovation, Fashion and Style, Leather Works, Beauty,Wellness and Cosmetics as well as Furniture and Woodwork.

There was also a special category for outstanding male and female participants at the MSMEs clinics.