National policy on will fast-track economic growth – SMEDAN
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria, (SMEDAN) Dr Dikko Umaru Radda, has said the national policy on Micro, Small and Medium Enterprises (MSMEs) that is undergoing review would engender the much-needed socio-economic development of the country.
In addition, he said the policy would enable stakeholders to have a clearer picture of the importance of the MSME subsector.
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Radda told stakeholders in Kano yesterday at the review of the national Policy on MSMEs where he stressed the need for a long term MSME strategy provided by national policy on MSMEs as key for national development cannot be overemphasized.
In a statement by the Head of Corporate affairs for SMEDAN, Ibrahim Kaula, he said the emphasis was placed on reviewing the document every four years to ensure full potentials that exist within the MSME space was fully explored and exploited.
He said the MSME space was dynamic, hence the need for the timed review of the policy, adding that the discussions at the meeting would center on the need to raise broad-based awareness and appreciation for entrepreneurship development, innovation and engagement of the youth in the entrepreneurial cycle.
“Stakeholders must concentrate on the need to facilitate access to more innovative and MSMEs friendly financial supports, as we cannot also shy away from the issue of having a nationally acceptable definition and categorization of MSMEs.
“If the government and all stakeholders collaborate to provide an enabling environment, the MSMEs could actually get the country out of the present predicament of the unacceptable rate of unemployment, illicit financial engagements, insecurity, political and social violence etc.
“Reviewing the national Policy on MSMEs would fast track the process for creating the much needed enabling environment, where at least half of the 41 Million MSMEs are able to create one employment each year, it will address the issue of unemployment within the shortest possible time,” he said.
The Director-General, also, called for a cohesive public-private partnership in the implementation of the national policy on MSME for it to be effective.
