FG reassures entrepreneurs of addressing sectoral operational challenges
The Vice President, Yemi Osinbajo has assured entrepreneurs and business owners that the Federal Government is committed to solving some of the challenges facing the establishment and operations of Micro, Small and Medium Enterprises, MSMEs in the country.
He gave the assurance while flagging off the second phase of National MSME Clinics for viable Enterprises for Ebonyi State at the Christian Ecumenical Centre, Abakaliki.
Court strikes out suit filed by widow against NCS
Osinbajo who listed some of the challenges to include access to credit facilities, big machines, and registration of products and overzealousness of government officials expressed optimism that the empowerment of MSMEs would lead to the economic growth of the country.
“The world over, Micro, Small and Medium Scale Enterprises, MSMEs, served as the engine room for the economic growth of societies, as they are often significant employers of skilled and unskilled labour, and are usually the key service providers to government and large corporations.
“Over the years in Nigeria, MSMEs have played a vital role in the overall economic growth of the country as they have consistently contributed significantly towards improving capacity, the standard of living and bringing about substantial local capital formation, power productivity and capability.
“In view of available statistics, the Government of Nigeria has found it imperative to initiate programs such as this to help to re-position MSMEs so as to drive inclusive economic growth, regional development, employment generation and poverty reduction as well as promote broad-based equitable development to promote more opportunities for youth participation in the economic development of the country.”
According to him, N90 billion funds have been earmarked for agriculture-based MSMEs by the Central Bank of Nigeria, CBN as National Agency for Food, Drug Administration and Control, NAFDAC is rolling out an E-platform for registration of products.
Welcoming Vice President Osinbajo to the State, Governor David Umahi called on the Federal Government to improve power supply to the State to boost industrialization plan of the present administration.
The Governor who has ensured the empowerment of several youths and women across the state urged the Federal government to look into the way and manner elections were conducted in the country in order to ensure the safety of lives and property of Nigerian citizens.
