SMEDAN develops policy to tackle MSMEs challenges in Nigeria

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SMEDAN
SMEDAN

THE Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has said that the revised National policy on Micro Small and Medium Enterprises (MSMEs) will address challenges currently affecting the sector.

Dr Dikko Umaru-Radda, the Director General SMEDAN gave the assurance in an address delivered at the stakeholders’ engagement on validation of the national policy on MSMEs on Wednesday in Awka.

Umaru-Radda was represented by Mr Wale Fassanya, the Director Planning, Research, Monitoring and Evaluation, SMEDAN, Abuja.

He explained that the review done every four years in line with the Act establishing the agency would enable the agency contribute significantly to the growth of national Gross Domestic Products (GPD) and tackle unemployment.

The SMEDAN boss said that after the 2015 review, the 2019 to 2023 review policy being currently done became imperative due to certain interventions and initiatives at national and global space with obvious implications on MSMEs.

“Some of these factors are: the Central bank’s Anchor Borrowers Scheme, the Switch from National Economic Empowerment and Development Strategy of previous government to Economic Growth and Recovery plan and closure of land borders with neighbouring countries,’’ he said.

He said the engagement would capture the inputs of critical stakeholders from the six geo-political zones with a view to collating them for the production of final draft document.

The DG said the final document would be forwarded to the National Executive Council for ratification.

Umaru-Dikko said the document would redefine and sustain vibrant MSME subsector in Nigeria to align with both local and international benchmark.

He stressed the need for a cohesive public-private partnership in the implementation of the national policy on MSMEs.

Mr Arnold Jackson, the South-East Regional Coordinator of Nigeria Export Promotion Council, Enugu, said developing a new policy would play critical role in addressing problems faced by local exporters, adding that when properly tackled, the country’s GPD would improve.

Dr Nkem Okeke, Anambra State Deputy Governor, who declared the meeting open, noted that development of SMEs would enable the state transit from commercial hub in the South-East to industrialized centre.

Okeke, who was represented by his Special Adviser, Dr Charles Nwufoh, said the state was willing to partner any organisation for the growth MSMEs.

The News Agency of Nigeria (NAN) reports that stakeholders were drawn from strategic private and public establishments across the five South-Eastern states of Imo, Abia, Anambra, Enugu and Ebonyi.

They were presented with the newly draft national policy on MSMEs for their inputs. (NAN)

– Jan. 29, 2020 @ 16:35 GMT |

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