The Minister of State, Budget and National Planning, Prince Clem Ikanade Agba, has said that the implementation of the National Development Plan (NDP) 2021-2025 will boost and strengthen Micro-Small Medium Enterprises (MSMEs) as it contributes about 70% of employment across the Country.
The Minister stated this during the signing of a Memorandum of Understanding (MoU) between the Ministry and the Forum of MSMEs, recently, in Abuja.
He pointed out that “One of the major objectives of the National Development Plan 2021-2025 is to fast-track the growth of the MSMEs”.
He assured Nigerians that the government would support and strengthen the efforts towards contributing to the economic output of goods and services in the country.
Prince Agba stated that the economy was diversifying and it was very important to give a lot of focus and attention to the growth of MSMEs, which was the engine room for the economic development of the country and also formed the bulk of business activities in the growing economies of the world.
In his remarks, the Permanent Secretary of the Ministry, Engr. Nebeolisa Anako, said that the signing of the MOU showed regards and respect for the forum and the good relationship between the MSMEs and the Ministry.
The National President, Micro-Small and Medium Enterprises, Mr Garba Ibrahim, said that “the forum was officially launched on the 6th of January 2022, and the potential of the project motivated the Forum to work tirelessly to restructure the service sector.”
He further stated that to actualize the goals and objectives of the MoU and have a strategic plan, MSMEs must have access to capacity building, finance, and raw materials in order to standardize their products.