Director-General, Bureau of Public Service Reforms (BPSR), Mr Dasuki Arabi, disclosed that Micro, Small and Medium Enterprises (MSMEs) are very important in the economy, and government will rely on them to reduce the rate of unemployment in the country.

This statement was made by the Director-General, during a one-day forum organized by the agency in partnership with the Federal Capital Territory Administration and the Civil Society Organizations in identifying service delivery challenges in MSMEs’ interventions.

According to the press release issued by Aliyu Umar, the Principal Information Officer of the Bureau BPSR, the DG disclosed that the importance of MSMEs can not be overemphasized, given the vital role they play in the economy.

Mr. Arabi who is renowned for his drive-in carrying out reforms, says that the mandate of the agency is to inform Nigerians of reforms and initiatives of the government.

He added that with the recent reforms and initiatives by the government, it is fair enough for the government to rely on MSMEs to reduce the rate of unemployment in the country.

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What they are saying

Director-General of Bureau of Public Service Reforms, Mr Dasuki Arabi, said:

“In the light of the #EndSARS protest that was hijacked by hoodlums, we realized there is a need for us to bring the Civil Society Groups together to inform them of the various interventions of government to improve the living standard of the youths and Nigerians in general.

“We have brought officials of government agencies providing support for SMEs and Nigerians to talk to them, so that we speak one language, understand what the programs are and to guide them and they go out to guide their members on how to benefit from these interventions.

“These interventions are necessary because of the vital role Micro, Small and Medium enterprises (MSMEs) play in the economy, they are very important in the economy, and government will rely on them to reduce the rate of unemployment in the country.”

Also speaking at the event was the Permanent Secretary of the Federal Capital Territory Administration (FCTA), who was ably represented by Mohammed Lawal Abubakar, Director Economic Research and Statistics of the FCT. He said:

“We are going to support all those SMEs because they lost a lot during the COVID-19 pandemic. So, we are working on that. And what we are doing in the FCT is that we are partnering with World Bank, definitely by January we will commence operation.”

He also said the FCTA is using its platform, the Abuja Enterprise Agency, as a means to orientate SMEs on how to get government subventions to boost their businesses. He said:

“As we rightly said, we have a one stop shop. And that is under the purview of the Abuja Enterprise Agency and the initiative is the first of its kind in Nigeria. So it’s just to see how we can bring them together, listen to them and solve their problems. Is like the issue of registration, some of them might not be able to meet up with the demands of those registration issues, so we assist in doing that.”

The Nigerian Maritime Administration and Safety Agency (NIMASA) has emphasized the need for full implementation of the relevant local content strategy by ensuring that Nigerian cargoes are freighted by the nationals to promote indigenous participation in maritime space, diversification and increase in international shipping trade.

This disclosure was made by Dr. Bashir Jamoh, NIMASA Director-General, on Thursday in Abuja at the NIMASA special day at the 15th Abuja International Trade Fair which had its theme as, “Trade and Commerce Beyond Borders”.

Dr. Jimoh was ably represented by Mr Momoh Alhassan, Head, Shipping Promotions Unit, who spoke on “Investment Opportunities for Micro Small and Medium Enterprises (MSMEs) in the Nigerian Blue Economy”.

According to Mr. Alhassan, “Nigeria has cargoes and these cargoes should be carried by Nigerians to promote indigenous participation in the maritime space”

“It will further promote diversification and increase in international shipping trade, such as exportation of available produce which when we utilise the capability in the country, will reduce importation of goods and services, conserve foreign exchange and curtail capital flight which will contribute to GDP growth and economic stability.”

(READ MORE: Union Systems wins Trade Finance Software Solution Provider of the Year Award)

The DG went further to explain that the National Shipping Policy, established under decree 10, 1987 stipulated that Nigerians should have a right of freight, which must be up to 50 per cent of all dry cargo originating from international commercial ventures of local, state and the Federal Governments.

What you should know

• Section 37, sub-section six, of National Shipping Policy stipulates that NIMASA would determine an efficient strategy for the participation of national carriers in the carriage of crude and petroleum products to and fro Nigeria.
• If the maritime sector is appropriately harnessed, income would accrue to small businesses in local and foreign currency, thereby collectively boosting Gross Domestic Product (GDP).
• Some of the opportunities for Nigerians in the marine sector include vessel building, maintenance, manning, support services like insurance, legal, and catering among others.

There is a brewing legal battle between the management of Seplat Petroleum Development Company (SPDC) and Access Bank of Nigeria Plc, over the indebtedness of a third party.

This has led to the sealing off of the SPDC’s corporate headquarters at 16A Temple Road, Ikoyi, Lagos.

However, the management of SPDC has maintained that it is not a shareholder in Cardinal Drilling, neither has it any outstanding loan obligations to Access Bank. SPDC further stated that it did not at any time make any commitment or guarantee in respect of Cardinal Drilling’s loan obligations to Access Bank.

In response to the action taken by Access Bank, the management of SPDC has stated that the court order lacked any merit or justification. SPDC also plans to take legal actions in order to counter the order.

What they are saying

A part of the press statement issued by SPDC, signed by its company’s Secretary and General Counsel, Mrs Edith Onwuchekwa, and seen by Nairametrics reads thus:

“We understand that Cardinal Drilling has outstanding loan obligations to Access Bank. However, SEPLAT is neither a shareholder in Cardinal Drilling, nor has outstanding loan obligations or guarantees to Access Bank and did not at any time make any commitments or guarantees in respect of Cardinal Drilling’s loan obligations to Access Bank. SEPLAT strongly believes that there is no merit or justification for this action against it and has taken prompt legal action to vacate the court order pursuant to which the building was sealed.

“This action was taken by Access Bank without any prior notice to SEPLAT, as required under Nigerian law. SEPLAT will vigorously defend against this improper action to the full extent of the law and will seek all appropriate legal remedies.”

What you should know

According to findings by Nairametrics, the third party – Cardinal Drilling Service Limited, which provides drilling services to SPDC, has outstanding loan obligations to Access Bank, prompting the legal action.