Business
Kogi Trains 250 Entrepreneurs On Business Packaging
The Kogi State Govern
ment said that it had trained 250 small business owners on how to package their proposals to attract funds from financial institutions.
Governor Idris Wada of Kogi stated this in Lokoja at the opening of a one-day workshop on the validation of the National Policy on Micro, Small and Medium Enterprises (MSMEs), yesterday.
The workshop was organised by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
Wada said that 50 of the beneficiaries were trained in partnership with Stanbic IBTC Bank.
He added that the government had also entered into partnership with the bank to establish four small enterprises in each of the 21 local government councils in the state.
The governor said that the state had already contributed N250 million as its counterpart contribution for the project.,
Wada said the intervention by the government was to promote small and medium enterprises in the state, which “constitute the engine of growth of the economy”.
The governor, who was represented by his Chief of Staff, Mr Joseph Daniel, said that the fund would be used to establish rice mills, cassava, cashew and fish processing plants, among others.
Earlier, the Director-General of SMEDAN, Alhaji Bature Masari, described MSMEs as “the most important sub-sector of the economy”, saying that it currently represented 96 per cent of total businesses in Nigeria.
He said that the sector was key to the country’s economic growth and employment generation capacity, hence the need to review periodically, its policy guidelines.
Masari said that policy, which had been in use since 2007, would be reviewed to address challenges facing the MSMEs.
The director general urged the participants to thoroughly appraise the policy and come up with inputs that would improve the quality of the document for the benefit of all stakeholders.
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