FG Has Revealed Strategies TO Boost MSME Growth In Nigeria
To ensure that Micro Small and Medium Scale Businesses enjoy better business environment, the Federal Government (FG) has announced strategies that it will employ to achieve this. The Minister of State, Federal Ministry of Industry, Trade and Investment, Mrs. Aisha Abubakar revealed these strategies yesterday, according to Guardian newspapers.
First and foremost, Abubakar said that a review of the National Enterprise Development document has been concluded by Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) while the number of members of agency charged in implementing the document has been expanded to include the National Agency for Food Drugs Administration and Control (NAFDAC), Standards Organisation of Nigeria (SON), Corporate Affairs Commission (CAC), Nigerian Export Promotion Council (NEPC).
Similarly, Abubakar stated that the FG had pinpointed target sectors for the diversification drive. These e agro allied, solid minerals, oil and gas related industries, construction, light manufacturing activities and services. The drive would also continue to rely on the Nigeria Industrial Revolution Plan (NIRP) as its framework.
Another strategy the FG would incorporate is continued dialogue with the private sector to ensure that the policies and directives issued actually foster diversification by creating an enabling environment. “It behoves of the public and private sector to work together and articulate pragmatic strategies that will address the obstacles that hinder our development efforts.” Guardian quotes her as saying.
With these strategies unveiled by Mrs. Abubakar, the FG has once again shown theoretical commitment to the diversification drive, especially through the promotion of MSMEs. However, as with most theoretical plans and documents in Nigeria, the main question continues to be ‘When will actual implementation begin?’