Minister inaugurates Reform Council on MSME

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The Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar has inaugurated the Reform Leaders (sub-Committee) on the National Council on Micro Small and Medium Enterprise (MSME). While inaugurating the group, Hajia Abubakar stressed that the mandate of the group was to put their heads together to proffer solutions to the various challenges confronting the MSMEs in Nigeria with a view to putting those problems to rest.

The Minister said: “Although the Buhari Administration has developed several initiatives such as “Market Moni”, “Business Innovation Growth”, “YouWin Connect”, “Youth Entrepreneurship Support (YES)”, “N-Power”, Development Bank of Nigeria (DBN) and the Credit Information Portal which are aimed at the development of MSMEs but the National Council on MSMEs which is headed by the Vice President, His Excellency, Professor Yemi Osinbanjo believes that more needs to be done.”

The Minister therefore, enjoined the inaugurated body to carry out its assignment expeditiously. She emphasised the need to work closely with the MSMEs to get the right solutions. “We need quick result, we need a communication strategy that will be all-inclusive because the MSMEs need to know what is being done; let us hear their feelings so that we can do it the way they want it; we need to interact and get result“, she said.

Hajia Abubakar pointed out the need to help MSMEs build their capacity to overcome the challenges they are facing. She charged the group to work towards the setting up of one stop shop and profiling of MSMEs on different star levels.

Earlier, the SMEDAN Director for Policy, Advocacy and Coordination, Mr. Monday Ewans disclosed that the National Technical Implementation Committee on MSMEs which met on the 5th October, 2017 agreed on four proposed focus areas which the reform group is expected to work on. These areas are:

  • Improving the regulatory environment for MSMEs;
  • Easing access to finance for MSMEs;
  • Enabling Business Support Services; and,
  • Improving access to market for MSMEs.

The members of the reform group which were drawn from public and private organizations include Central Bank of Nigeria (CBN), Development Bank of Nigeria (DBN), Small and Medium Enterprises Development of Nigeria (SMEDAN), Standard Organization of Nigeria (SON), Industrial Training Fund (ITF), Faith Foundations, Manufacturers Association of Nigeria (MAN), National Association of Small and Medium Enterprises of Nigeria (NASME), Corporate Affairs Commission (CAC), Federal Inland Revenue Services (FIRs), Bank of Agriculture (BOA), Nigeria Investment Promotion Commission (NIPC), Nigeria Export Promotion Council (NEPC), Federal Ministry of Agriculture and Rural Development, etc.

Umar Maryam Yusuf
For: Deputy Director, Press