By Obansa Ibrahim, Lokoja
The Federal Government has Said that it has make available the sum of N200b to strengthen MSMEs and the manufacturing sectors to create more job opportunities for Nigerians.
The Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Ambassador Nura Abba Rimi disclosed this in a message to a one day capacity building for Micro, Small and Medium Enterprises, MSMEs for participants in the North Central Geopolitical Zone held in Lokoja the Kogi state capital.
Represented by Engineer Mohammed Ismaila, Ambassador Rimi said the money is to be accessed by small business owners with a single digit interest loan in order to increase their capacities to expand their businesses and create wealth.
According to him, the Federal Government has also commenced the licensing of Business Development Service Providers, BDSPs, based on a new certification and accreditation framework to equally standardize the delivery of Business Development Service in the country.
He said the workshop also provides opportunity for networking to cross fertize ideas and exchange relevant information to grow businesses which will lead to overall growth of the nMSME ecosystem and the country economy as a whole.
The Permanent Secretary listed some of Government past interventions to include; Anchor Borrowers Programme, Agribusiness Small and Medium Enterprises Investment Scheme, AGSMEIS, N10b National Enterprise Development, NEDEP, Fund also known as the Federal Government of Nigeria Special Intervention Fund for MSMEs.
In his remark, the Director, Industrial Development Department of the Ministry, Muhammad Bala represented by Alkali Samuel said MSMEs development is the fulcrum of industrialization and it’s subsequent economic growth hence the commitment of the Renewed Hope Agenda of President Bola Ahmed Tinubu to the sector.
Also in a message to the occasion, Kogi State Governor Alhaji Yahaya Bello represented by the Managing Director/Chief Executive Officer of Kogi Enterprises Development Agency, KEDA, Hajia Rekiya Sanni Onaivo pledge the commitment of the Government and the Agency to domesticate the training across the State to achieve set goals for the benefits of Small and Medium Enterprises.
Speaking during the technical session, the lead consultant, Doctor Eniola Yemi Taiwo took participants through process of loan application and credit worthiness by prospective small business owners, financial literacy and management skills all in a bid to access loan to grow their businesses and create more wealth.
According to him, the essence of the workshop was to enhance the capacity of Small Medium Enterprises, SMEs, across the country to.easily access loan from different financial institutions in Nigeria.
He appealed to Government at all levels to encourage the setting up of an ecosystem of small businesses, strengthen them to stay afloat and expand overtime.
Speaking, Kogi State Chairman of the Nigeria Association of Small Scale Industrialists,Timothy Aiyedero, Hajia Jumai Abubakar from Niger State and other participants described the workshop as timely in view of the economy challenges in the country, promising to use knowledge gained to improve on their businesses especially in the area of accessing funds from financial institutions.
Participants from Niger, Kwara, Nasarawa, Kogi and Plateau States making the North Central Geopolitical Zone attended the workshop.