Business
FG To Harmonise MSME Activities- SMEDAN
The Federal Govern
ment is set to harmonise the activities of ministries, departments and agencies connected with Micro Small and Medium Enterprises (MSME), an official said in Abuja.
Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Bature Masari, told newsmen that the objective was to ensure synergy for effective growth of the sub-sector.
“I have received the report of the coordination committee for the last MSME summit and the report is encapsulated for work plan for coordination of all MSME related MDAs to ensure synergy.
“The report will also ensure collaborations and implementation of MSME related activities in the country to avoid duplication,’’ Masari said.
He said in order to harmonise MSME activities, a platform under the chairmanship of Vice-President, Yemi Osinbajo, has been set up.
The DG called for the establishment of MSMEs bank to provide dedicated and sustainable funding window for the development of the sub-sector.
He said adequate funding of MSMEs would lead to massive economic growth and job creation in the country.
“These measures will go a long way in checking the problem of lack of access to funds that is hampering the growth and development of the country’s MSMEs sub-sector,’’ he said.
Masari added that a well structured MSMEs sub-sector would contribute significantly to employment generation, wealth creation and development in the country.
He said the current economic hardship faced by the country was caused by declining crude oil price, foreign exchange crisis and significant capital outflow.
“I believe a new impetus must be generated to expand the operational horizon of MSMEs in Nigeria toward achieving this objective,” the official said.