GOVERNMENT AGENCIES ARE CATALYSTS FOR DEVELOPMENT OF MSMES IN NIGERIA: VICE PRESIDENT, PROF. YEMI OSINBAJO

In a bid to create an enabling environment and boost the capacity of MSMEs in the country, the Federal Government has deployed an intervention of all relevant government agencies responsible for adding value to business such as Standards Organisation of Nigeria (SON), NAFDAC, CAC, BOI, FIRS and others to address various issues bedeviling MSME’s in Nigeria through their participation in the Nationwide MSME Clinic for Viable Enterprises. This Statement was made by the Acting President, Prof. Yemi Osinbajo at the launch of the MSME’s Clinic for in Katsina State.

In his statement, the Vice President who is also the Chairman of the Presidential Council on The Ease of Doing Business stated that the focus of the government is to grow the economy through the implementation of the Ease of Doing Business policy and the National Economic Growth Plan with a focus on developing and empowering MSMEs to make Nigeria an investment friendly country. This according to him was already yielding desired results as he was delighted to note that SON and NAFDAC offer 60 and 90 days respectively for the completion of registration for MSMEs and that also the Corporate Affairs Commission during the clinic sessions had registered some MSMEs within 24hours, a feat which could not be achieved before now.

The Nationwide Pilot Edition of MSME clinic for viable Enterprises an initiative of the office of the Vice President was launched on the 27^th of February this  year in Aba, Abia state and so far the clinic has berthed in Kwara, Sokoto and Plateau States with Katsina State being the latest beneficiary. It is expected that in the coming weeks and months the clinic will go across all states of the federation.  The  Vice president therefore urged MSMEs to take advantage of expertise of agencies such as the Bank of Industry and for consideration for financing, SON on issues of standards and quality and all the other agencies so as to be equipped to take their businesses to the next level.

As a major Stakeholder in the MSMEs Clinics, SON offers various incentives for prospective MSMEs which include subsidized sales of standards, subsidized certification , subsidized laboratory testing Charges, SONCAP import permit at subsidized service charge for importation of raw materials and equipment, inclusion in all Technical Committees on Standards elaboration and the recommendation of MSMEs with certified products for financing.

Apart from SON, other agencies who are part of the clinic mandated to nurture  MSMEs include Small and Medium Enterprises Development Agency of Nigeria(SMEDAN),Nigerian Investment Promotion Commission (NIPC), Nigerian Export Promotion Council (NEPC), Nigerian Export Import Bank (NEXIM), Corporate Affairs Commission (CAC), National Agency For Food and Drug Administration and Control (NAFDAC), Bank of Industry (BOI), The Nigerian Incentive-based Risk Sharing System for Agricultural Lending, National Information Technology Development Agency (NITDA), Nigerian Customs Service, Bank of Agriculture, Federal Inland Revenue Service (FIRS), The Industrial Trust Fund (ITF) and the Abuja Enterprise Agency.

Source: ISO