Stakeholders from the public and private sectors Wednesday held an event to discuss the implementation of the national policy on Micro Small and Medium Enterprises (MSMEs).
Tagged “A coordination mechanism for the MSME Policy 2021-2025 implementation,” the programme was supported by Investment Climate Reform (ICR) Facility, an organisation that supports countries in their public-private dialogue process to ensure a more conducive and sustainable investment climate.
ICR Facility said it is providing technical assistance to Small Medium Enterprises Development Agency of Nigeria (SMEDAN) and Abuja Chamber of Commerce and Industry (ACCI) to support the coordination of the implementation of the national policy on MSMEs 2021-2025.
Speaking at the event held in Abuja, the director-general of SMEDAN, Dikko Radda, said implementation of the 2021-2025 national policy is necessary to address the challenges confronting MSMEs in Nigeria, a sector that creates over 59 million jobs, as of 2017.
He said the policy’s fundamental objective is to facilitate and sustain a vibrant MSMEs sub-sector that will be the major driver of economic growth and development.
To realise this vision, Mr Radda said his organisation fosters the emergence of new MSMEs in Nigeria especially among women and the youth as well as create the culture of ethics of entrepreneurship in their lives.
“We are addressing the peculiarities of the MSME sub-sector, including the opportunities and challenges in a Public-Private-Dialogue (PPD) fashion,” he said, adding that they are “enhancing the skills of MSME owner-managers and their employees on one hand, and capacity upgrade for MSME support institutions on the other, to render meaningful, 21st-century services.”
“In the pursuit of these objectives, the policy introduced new classification for Nigeria’s MSMEs. The major elements are the replacement of assets (excluding land and building) with turnover and the subdivision of the Micro-enterprise group. Enterprises are classified in terms of their turnovers and employment, but where there are conflicts between turnovers and employment, employment will take precedence,” he added.
The policy, Mr Radda noted, “encompasses seven broad areas; which are: finance, institutional, legal and regulatory framework, skills development, marketing, technology, research and development, extension and support services and infrastructure and cost of doing business.”
In her presentation, ICR Facility consultant, Ada Chidi-Igbokwe, said they have developed a concept paper on coordination mechanisms and meetings with stakeholders to address the roles of stakeholders, involvement of national and state actors, and a monitoring and evaluation system.
“We have also completed a draft coordination manual,” she said.
She said the organisation has proposed a framework for work plans of the national and state PPD sessions as well as “templates for invitations, agendas, minutes and reports of the PPD working groups.”
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...