Nation
SMEDAN Advocates Stakeholders’ Support For MSMEs
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has urged stakeholders within the Micro Small and Medium Enterprises’ (MSMEs) ecosystem to create a more supportive environment for MSME’s to grow, thrive and contribute to the economy.
The Chief Executive Officer, SMEDAN, Dr Olawale Fasanya, gave the advice at a two-day MSMEs Business Summit, organised by Innovation Centre for Leadership and Entrepreneurship Development (ICLED) in collaboration with SMEDAN in Lagos.
The Tide’s source reports that the summit had the theme, “Renewing MSMESs in Nigeria: Navigating Disruption and Embracing Change in the New Digital World”.
Fasanya said the latest survey the agency conducted with the National Bureau of Statistics in 2017 revealed Nigeria had about 41.2 million MSMEs and in 2020, about 39.6 million.
According to him, the country lost about three million as a result of COVID-19.
Fasanya, represented by a Director in SMEDAN, Dr Friday Okpara, noted that within the 39.6 million MSMEs in 2020, about 96.9 per cent were within NANO and micro enterprises.
He said, “that is to tell us that 3.1 per cent is just small and medium sized; and that is a big job for those within the MSMEs ecosystem.
“Especially SMEDAN, Standards Organisation of Nigeria, Nigerian Export Promotion Council, National Agency for Food and Drug Administration and Control, amongst others.
“We should see to how we can mainstream these 96.9 per cent micro enterprises to small and medium sized; and if you look at the type of crisis we are having in terms of youth unemployment and we say we have 39.6 million MSMEs, assuming we employ one each, a lot will be off the market.
“This is part of the mandate of the agency to ensure that we have the capacity to make a small legion of that to enable them contribute more to the GDP”.
The SMEDAN boss also noted that the MSMEs had made an encouraging contribution to the country’s Gross Domestic Product of 46.31 per cent, saying that more needed to be done.
“Their contribution to exports is very minimal compared to India that has about 42.5 per cent contribution of MSMEs to exports; equally in 2017, their contribution to export was about 7.27 per cent but the 2020 figure has shown us that there is a decline to 6.21 per cent.
“This means that SMEDAN should collaborate more and partner more with the Nigerian Export Promotion Council to enable us to have more MSMEs, especially with the recent Africa Continental Free Trade Area in which Nigeria is a big player among the 64 African countries”, Fasanya said.
Prof. Stephen Aliu, Team Leader, Centre for Entrepreneurship Development and Wealth Creation and Faculty Member, ICLED Business School, said fostering growth and development of MSMEs would require relevant stakeholders to implement best practices as done in other climes.
“SMEs often face challenges in accessing finance due to limited collateral or credit history.
“Governments and financial institutions should develop tailored financial products such as microloans, venture capital funds, or crowd funding platforms to provide affordable and accessible financing options for SMEs.
“Additionally, promoting financial literacy and offering business advisory services can help SMEs improve their financial management capabilities.
“Simplify regulations and reduce bureaucratic barriers, enhance entrepreneurship education and training, foster innovation and technology adoption, facilitate market access and internationalisation and build supportive ecosystems.
Nation
NCSU Consoles Elder Statesman Over Daughter’s Death …Tasks Elected Unit Executives On Service Delivery
The Nigeria Civil Service Union(NCSU) has extended its condolence to an elder statesman in Rivers State, High Chief Anabs Sara-Igbe over the untimely death of his daughter during child birth, describing it as saddening and unfortunate, and called on the Peoples Democratic Party(PDP) chieftain to bear the irreparable loss with fortitude.
This is even as NCSU has called on the newly elected executives of the union at the unit level and Ministries in the State Civil Service, to be dedicated to their duties, as well as deliver services that would further help the State to retain its prime position in the comity of States.
The Rivers State Chairman of NCSU, Comrade Chukwuka Richman Osumah, who gave the indication in Port Harcourt, said the union seriously empathises and sympathises with Chief Sara-Igbe over the daughter’s death, and urged him never to allow the sad incident to weigh him down, but to remain strong, firm and resolute in championing the cause of Rivers State even in the face of such a tragedy.
Osumah noted that the union is particularly sad over the unfortunate incident, because of the kind of support Chief Sara-Igbe has been giving Governor Siminalayi Fubara, describing him as a true pillar of strength to the Governor, and enjoined him to continue to contribute meaningfully to the progress and development of the State in spite of obvious challenges and drawbacks.
According to him, history would be kind to Chief Sara-Igbe, when the chips are down, owing to his immense contributions to the State and also for standing on the side of truth, justice, equity and fairness,when it matters most.
Commenting on the election of new unit executives of the union, Osumah said he was glad over the development, and urged the new union officials to be good ambassadors of their units and the union.
He said delivering selfless services to the people of the State should always be their priority, and congratulated them on their successful elections.
Nation
RSG Donates Transformer To Rehabilitation Centre
The Rivers State Government has donated a 500KVA transformer to the Rivers State Rehabilitation Centre, Iriebe in Obio/Akpor Local Government Area.
The State Commissioner for Power, Prince Solomon Abel Eke, who handed over the transformer to the Commissioner for Social Welfare and Rehabilitation, Mr Illamu Arugu thanked Governor Siminalaye Fubara for the approval and release of the transformer, adding that it would go a long way in solving the power problem at the centre.
“I want to thank God for the Governor that we have, who takes time to look at things meticulously and ensures that our people get service for what they are doing”.
He said following the request by the Ministry of Social Welfare and Rehabilitation for a transformer for the rehab centre, a team of engineers from the Ministry of Power were sent to the area to take cognizance of everything that they need.
“I can assure you that what we are doing or what we are going to do here is going to put to rest everything about power.
“The capacity of this transformer you have here will take care of you even the neighbouring enviroment”, Abel Eke said.
He emphasised the need for them to preserve the transformer, stressing that the transformer has the capacity to generate and distribute electricity within the centre and neighborhood.
The commissioner warned them against allowing people to scale their fence to either vandalise or steal the transformer and described the gesture as a road map for constant power supply in the State.
“We are the only State that has three generating stations in the entire nation and we practically moving towards enjoying 24 hour- power supply in Rivers State”, he added.
Also speaking, the Commissioner for Social Welfare and Rehabilitation, MrArugu Illamu who was elated for the donation, said it was based on a request by the rehabilitation centre, when he visited the area recently.
Illamu equally thanked Governor Fubara for the gesture and the promptness to which their request was attended to and noted that it was coming at a time the people needed the transformer badly.
He said even caregivers in the centre also needed power, adding that “it is coming at a time that they need it most”.
Mr Ilamu also commended the Governor for approving transformer to the Safe Home, Borokiri, adding that the Governor has so far given approval for the three transformers requested by the Ministry and prayed that the last transformers for the Children Home and Remand Home should be delivered as well for them to have some level of succour.
He said the gesture will go a long way to alleviate the sufferings of the people by allowing them to enjoy what he called “ the basics of life”.
Iriebe John Bibor
Nation
Community Hails Fubura Over Perm Sec’s Appointment
The people of Ogbogolo kingdom in Ahoada -West Local Government Area of Rivers State have commended the Rivers State Governor, Sir Siminalayi Fubara for the appointment of their i daughter, Dr. Mrs Azibaolanari Uzoma-Nwogu as the Permanent Secretary of theMinistry of Education.
The Paramount Ruler of the community, King James Rowland, Obenema-Ibe III of Ogbogolo Kingdom made the commendation when he led a delegation of elite members of his kingdom on a courtesy visit to the office of the Permanent Secretary at the State Secretariat complex in Port Harcourt, Wednesday.
The Paramount Ruler asserted that Dr Uzoma-Nwogu was the first person from his Kingdom to be given an enviable appointment as a Permanent Secretary, stressing that Ogbogolo Kingdom is very appreciative of the Governor for the honour done to their daughter and the Kingdom at large.
He further prayed God Almighty to give her the wisdom and grace to carry out her duties effectively as would be required by her office and later presented her with an award of honour in recognition of her appointment as Permanent Secretary.
Also speaking, one of the elites in the Kingdom and university lecturer,Dr. Arobo R.C Amachree ,who is the Head of Department of Physics, Rivers State University described the elevation of Dr. Uzoma-Nwogu as meritorious and thanked the Governor for remembering the people of Ogbogolo and prayed God’s wisdom on His Excellency to continue to govern the state while pledging their support.
In her response, the Permanent Secretary, Dr Uzoma-Nwogu thanked her kinsmen for identifying with and for the respect and honour they accorded her and solicited for their support and prayers.
Akujobi Amadi
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