FG pledges support for MSMEs

The Buhari administration will continue to support Micro, Small and Medium Enterprises nationwide as they contribute significantly to the national economy, according to Vice President Yemi Osinbajo.
He stated this during the launch of the Micro, Small and Medium Enterprises (MSME) Clinics in Onitsha, Anambra State.
The Vice President said, “as individual units, MSMEs may be small, but together they account for up to 50 percent of Gross Domestic Product and over 80 percent of the labour force. It therefore follows that they are of decisive importance in the national economy. This is more so now that it has become inevitable for us to look inwards so as to, “grow what we eat and consume what we make”.
“MSMEs have tended to be neglected in this country over the years. This is partly as a result of competing priorities and a tendency to discount their contribution to the national economy.
“The MSME Clinics were conceived in this context and they are designed to bring the regulatory agencies whose work affects the business experience of MSMEs nearer to them. This will enable MSMEs to bring their business related problems to regulatory agencies for solution outside the formal and sometimes intimidating offices of these agencies. Of course, having all the agencies in one location at the same time saves MSMEs the travel time and cost of going to different agencies.
“MSME Clinics have also enabled regulatory agencies to gain a better understanding of the difficulties that MSMEs face and caused them to take steps to remedy the situation where required. For instance, several agencies have reduced the cost and timelines for service delivery to MSMEs. Since the launch of this programme last year, it has been easier for small businesses to access funds, because the Bank of Industry, Development Bank of Nigeria and NEXIM Bank have used it to expose their products and increase their loans to MSMEs.”
Also, Osinbajo, during his speech at the Town hall meeting, further stated that the Buhari administration is “a government for all Nigerians” and remains fully committed to bettering the lives of the people.
He added that, in partnership with state governments, the Federal Government will continue to work very hard to ensure peace and progress nationwide.
During his visit, the Vice President went round and engaged with entrepreneurs and small businesses at their individual stands.
The Vice President also commended the Anambra State Governor Willie Obiano, for his mutual belief that government must be about total commitment for bettering the lives of the people.
He said, “The partnership between the Federal Government and Anambra is not limited to just National MSME Clinics, the State is also benefitting from the National School Feeding as the Federal Government is currently feeding 103,285 school children, engaged 1,004 cooks in several schools across Anambra.
“We have pre-selected for Anambra State alone, about 11,039 new entrants to the N-Power scheme, and we hope that this second batch will be launched very shortly.”
Describing Anambra State as a leading manufacturing centre and a home of commerce, the VP also noted that Onitsha and Nnewi have carved a niche as industrial hubs.
“The Onitsha market has been legendary for a very long time given its size and vibrancy. This is a tribute to the entrepreneurial spirit, hard work and dynamism of the people of this great state,” he said.
Aside from the Anambra State Governor, also at the event were the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah; Minister of Labour and Employment, Dr. Chris Ngige; Special Adviser to the President on Social Investment Programmes, Mrs. Maryam Uwais; Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, among other government officials.

 

The Buhari administration will continue to support Micro, Small and Medium Enterprises nationwide as they contribute significantly to the national economy, according to Vice President Yemi Osinbajo.
He stated this during the launch of the Micro, Small and Medium Enterprises (MSME) Clinics in Onitsha, Anambra State.
The Vice President said, “as individual units, MSMEs may be small, but together they account for up to 50 percent of Gross Domestic Product and over 80 percent of the labour force. It therefore follows that they are of decisive importance in the national economy. This is more so now that it has become inevitable for us to look inwards so as to, “grow what we eat and consume what we make”.
“MSMEs have tended to be neglected in this country over the years. This is partly as a result of competing priorities and a tendency to discount their contribution to the national economy.
“The MSME Clinics were conceived in this context and they are designed to bring the regulatory agencies whose work affects the business experience of MSMEs nearer to them. This will enable MSMEs to bring their business related problems to regulatory agencies for solution outside the formal and sometimes intimidating offices of these agencies. Of course, having all the agencies in one location at the same time saves MSMEs the travel time and cost of going to different agencies.
“MSME Clinics have also enabled regulatory agencies to gain a better understanding of the difficulties that MSMEs face and caused them to take steps to remedy the situation where required. For instance, several agencies have reduced the cost and timelines for service delivery to MSMEs. Since the launch of this programme last year, it has been easier for small businesses to access funds, because the Bank of Industry, Development Bank of Nigeria and NEXIM Bank have used it to expose their products and increase their loans to MSMEs.”
Also, Osinbajo, during his speech at the Town hall meeting, further stated that the Buhari administration is “a government for all Nigerians” and remains fully committed to bettering the lives of the people.
He added that, in partnership with state governments, the Federal Government will continue to work very hard to ensure peace and progress nationwide.
During his visit, the Vice President went round and engaged with entrepreneurs and small businesses at their individual stands.
The Vice President also commended the Anambra State Governor Willie Obiano, for his mutual belief that government must be about total commitment for bettering the lives of the people.
He said, “The partnership between the Federal Government and Anambra is not limited to just National MSME Clinics, the State is also benefitting from the National School Feeding as the Federal Government is currently feeding 103,285 school children, engaged 1,004 cooks in several schools across Anambra.
“We have pre-selected for Anambra State alone, about 11,039 new entrants to the N-Power scheme, and we hope that this second batch will be launched very shortly.”
Describing Anambra State as a leading manufacturing centre and a home of commerce, the VP also noted that Onitsha and Nnewi have carved a niche as industrial hubs.
“The Onitsha market has been legendary for a very long time given its size and vibrancy. This is a tribute to the entrepreneurial spirit, hard work and dynamism of the people of this great state,” he said.
Aside from the Anambra State Governor, also at the event were the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah; Minister of Labour and Employment, Dr. Chris Ngige; Special Adviser to the President on Social Investment Programmes, Mrs. Maryam Uwais; Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, among other government officials.