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SMEs

Minister Harps On MSMEs Improvement Strategies 

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Minister of State, Industry, Trade and Investment, Amb. Mariam Katagum, has urged newly inaugurated Focal Persons on  strategies to improve the competitiveness of the Micro, Small and Medium Enterprises (MSME) sub-sector of the economy.
Katagum, who gave the charge when she inaugurated the Focal Persons Group for Ministries, Departments and Agencies (MDAs)in Abuja, said the aim of the Focal Persons Group was to see to the  implementation of the revised national policy on MSMS (2021 – 2025).
According to her, the Focal Persons are expected to develop an implementation plan for issues within their organisations, remit and ensure the implementation of the recommendations of the Policy.
She said the Focal Persons are also to track the status of the Public Private Dialogue (PPD).
The Minister urged them to dialogue, report on progress, achievements and issues that would support the implementation, and report the challenges encountered either as an individual or an organisation in implementing the policy, saying they would help to create awareness on the National Policy within their organisations.
According to the Minister, the  focus of the policy is to create a platform or framework to collaboratively attend to some of the basic challenges of the MSMEs.
“This is why the Policy is focused on Finance, Skills development, Marketing, Technology, Research and Development of Infrastructure and Cost of Doing Business, Institutional/Legal/Regulatory issues and awareness creation on MSMEs.
“These were areas that the Public-Private Dialogue (PPD) focused on both at the National and Zonal engagements.
“The National and Zonal PPD provided platforms to create awareness on the above Policy areas and also to prompt states that have not yet inaugurated their State Councils on MSMEs into action.
“It is believed that the needed connection between the national, regional and state actors in the implementation process has been established through the several PPDs,” she said.
Katagum, however,  stated that the revised National Policy on Nano, Micro, Small and Medium Enterprises (NMSMEs) was very ambitious and required  multi-stakeholders partnership in implementing some of the recommendations.
Also speaking, the Acting Director-  General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Olawale Fasanya, urged enablers to ensure that Nigeria’s MSMEs sub- sector was  not just active but also globally competitive.
Fasanya said with 39 million MSMEs, the revised National Policy seeks to ensure that the sector was active, innovative and globally competitive.
According to him, to ensure a minimum target is realised before the expiration of the Policy in 2025, there is the need to create an enabling environment for MSMEs to thrive.
Noting that the growth of MSMEs would also create employment which currently stood at over sixty  one million, he said that this has pushed the sub- sector’s contributions to  the current  Gross Domestic Product (GDP) of berween 49 per cent to 70 per cent.
Fasanya, therefore,  enjoined MDAs focal persons to foster the emergence of new MSMEs in Nigeria,  especially among women and youths, and accelerate the profitable expansion of existing MSMEs along the value chain.
The Director-General Abuja Chamber of Commerce and Industry,  Ms Victoria Akai, also  called  on  stakeholders and representatives of MDAs to take the responsibility seriously and  ensure  successful implementation of the policy.

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IHS Trains Youths On SMEs Management 

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IHS Nigeria has completed its training programme for over 25 young individuals in Yaba Local Government Area of Lagos State, as part of its “IHS Project Empower” initiative.
This effort was designed to empower them with the skills needed to establish small-scale businesses.
The event took place recently at Yaba LCDA in Lagos.
In his keynote address, the Associate Director, Government Relations IHS Nigeria Limited, Bond Abbe, said, “Based on our belief that entrepreneurship drives a nation’s growth, we have developed the IHS Project Empower, as one of our sustainability initiatives, to serve as proof of our unwavering commitment to nurturing entrepreneurial spirit for the betterment of our nation, which is in alignment with one of our sustainability pillars, education and economic growth.
“Our main aim is to create an environment where entrepreneurship can thrive through acquisition training, funding, mentorship, and support to help young adults turn their ideas into successful businesses through the IHS Project Empower”
According to him, the empowerment programme had provided training to over 2,929 young entrepreneurs and innovators, offered grants to 95 young entrepreneurs in 13 states of Nigeria, and, as a result, created 768 new jobs.
He added that this had positively impacted the lives of over 701,688 people across Nigeria.

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FG, Bank To Train 2m Youths On Digital Skills

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In furtherance to its pledge to support the job creation agenda of the President Bola Tinubu administration, WEMA Bank, in partnership with the Office of the Vice President, has concluded arrangements to commence an initiative that will impact two million youths and one million Micro, Small and Medium Enterprises (MSMEs) across the country.
The Vice President, Kashim Shettima, who received an update report on the programme on Monday during a courtesy visit by the Managing Director of WEMA Bank, Moruf Oseni, lauded the commitment and partnership of the bank for the initiative.
The delegation was at the Presidential Villa in Abuja to brief the Vice President on the progress made in the implementation of the FGN-ALAT Digital Skill-Novation Programme, an initiative of a partnership between the Federal Government and WEMA Bank to train two million youths and empower one million MSMEs across Nigeria.
Speaking on the support and commitment of the bank in the execution of the initiative, the VP in a statement by his media office said: “I will call on you to be above board. You are a good organization.
“I want to thank you most sincerely for your initiative and commitment, be rest assured that we will fulfill our own part of the bargain”.
Speaking to State House correspondents later in an interview, the MD of WEMA Bank, Mr Moruf Oseni, said they were at the Presidential Villa to brief the Vice President on “how far we have gone on the FGN/ALAT project.
“Vice President was very happy, and shortly you will hear from his office of how we want to progress with this programme. Part of this is to help create innovation hubs across the country for us.
“Mr President came out with a very bold and audacious plan on how to revive the Nigerian economy. The banks are a key player and we will put in our best to actualize this.
“If Nigeria does well, the financial institutions will do well. Mr. President is 100% on track and we are totally in support of his administration”.
On his part, Mr Temitola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation and MSMEs, emphasised the significance of collaboration, noting that “there is power in partnership. Private sector and the public sector coming together can always do more for the people.
“Mr. President’s ‘Renewed Hope’ agenda cannot be achieved by the government or private sector alone as it requires all hands on deck.
“So, we dug deep into the private sector to see how they can actually play their own role. In the first instance they agreed to partner with us on skills acquisition and in other aspects of the scheme that we plan to implement”.
The FGN/ALAT Digital Skill-Novation Programme will be formally launched by the Vice President on the 29th of September at the State House Banquet Hall, Abuja.
Also present at the meeting were Mr Tunde Mabawonko, Executive Director, WEMA Bank; Mr Bamidele Adefemi, Head of Federal Public Sector, and Mr Chioma Onuaguluchi, Regional Executive, Abuja.

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Revamp Technical, Skills Acquisition Centres – CEO

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The Chief Executive Officer (CEO) of I-Contact Connect Limited, Port Harcourt, Dr. Larry-Goodwill Ajiola, has reiterated the need for the Rivers State Government to urgently revamp technical and vocational training centres for skills acquisition in the state.
Dr. Ajiola, a United Nations Eminent Peace Ambassador, said skills development for decent work and livelihood is key to sustainable peace and stability of any nation,  stressing that “equipping youths with relevant knowledge and right attitude to work will make them self-sufficient and not depend on white collar jobs which are not even available”.
Ajiola, who noted the high rate of unemployment among the youths in the state, attributed the  alarming result to government’s neglect of technical and vocational education centers.
He also noted the need for companies sited in different communities to use this in empowering the indeginous youths in their areas, adding that lthis will go a long way in bringing lasting peace in the working environment and society at large.
He, therefore, called on the State Government to urgently revamp all the neglected technical and vocational centres and make them functional for the teeming youths of the state who desire to acquire skills that will make them self-employed and contribute their quota to the socio-economic development of the state.
He also encouraged the youths to make moves in contacting and dialoguing with the companies in their dormains on educational and vocational acquisition, warning against the quest for money, which, he noted, would be spent within few days.
Amb. Ajiola also noted the need for local government chairmen to collaborate with companies in their communities and empower their wards through skill acquisition.

By: Lilian Peters

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