The Vice President, Senator Kashim Shettima, has called for increased collaboration between the government and economic stakeholders, asserting that small business owners must have a meaningful voice in the government's policy and decision-making processes.
Accordingly, he directed the Special Adviser to the President on MSMEs and Job Creation, Mr Temitola Adekunle-Johnson, to expand membership of the Micro, Small and Medium Enterprises (MSMEs) Stakeholders’ Meeting, and ensure that the forum convenes the meeting quarterly.
Speaking on Friday during the MSMEs stakeholders’ meeting at the Presidential Villa, Abuja, Senator Shettima noted the interconnected nature of governance and enterprise, just as he demanded a seat at the table for the private sector, declaring that small business owners must also have a direct voice in shaping government policy.
Commending Adekunle-Johnson for the pace and persistence he has brought to the MSME assignment, he said, "I therefore direct him to expand this forum’s membership and convene this meeting once every quarter. Business owners must have a more decisive voice in our deliberations, and each meeting must account for the decisions taken at the previous one."
The Vice President stressed the importance of MSMEs in the country, noting that "the smallest shop on a Nigerian street may carry the weight of an entire household.
"Behind its counter are school fees, a parent’s medicine and an apprentice’s first chance at independence. Whenever that shop closes, the loss travels far beyond its owner. Whenever it grows, a little more of our country stands on its own feet," he added.
VP Shettima described the stakeholders' meeting as a human mathematics to acknowledge the significance of what small business owners do for the nation, reassuring them government's enduring commitment to making MSMEs a national priority.
He thanked them for their cooperation which, according to him, has strengthened MSMEs, pointing out that government agencies, financial institutions, state governments and private sector partners have helped in turning "public commitments into assistance that people can use.
"We do this because millions of Nigerians earn their living from businesses that survive, and those businesses survive more readily when institutions perform their duties," he explained.
The Vice President stated that because President Bola Ahmed Tinubu has placed business financing at the centre of his economic agenda because he understands that ambition without access to capital can become a lifetime of postponed possibilities.
"The woman who can fulfil a larger order and the artisan who can afford better equipment are helping to build the economy we seek. We know that the cost of staying in business has tested even the most resourceful Nigerians. Their perseverance places an obligation upon us," he maintained
He outlined President Tinubu's interventions in MSMEs to include the approval of ₦200 billion in business support, comprising ₦50 billion in grants, ₦75 billion in loans for MSMEs and ₦75 billion for manufacturing, with eligible manufacturers able to access up to ₦1 billion through the Bank of Industry.
The interventions, he noted, give enterprises the means to withstand pressure and pursue expansion.
The VP recalled that under the Tinubu administration, the MSMEs team has travelled from one state to another, "carrying the weight of our promises and demonstrating, through action, our determination to honour every commitment made to the Nigerian people."
Earlier, the Minister of State for Industry, Trade and Investment, Senator John Owan-Enoh, described MSMEs as the backbone of Nigeria's economy, stressing the need for sustained government support to strengthen their contributions to national development.
"These are people who run businesses that we see every day. It goes beyond MSMEs being the engine room of the economy; they are the Nigerian economy," he said.
The minister commended Tinubu for recognising the strategic importance of manufacturing and small businesses through the establishment of the Directorate of Manufacturing and MSME Sector Mobilisation in the All Progressives Congress (APC) 2027 Presidential Campaign Council.
Senator Owan-Enoh urged stakeholders to acknowledge the administration's commitment to creating an enabling environment for businesses to thrive.
On his part, the Special Adviser to the President on Job Creation and MSMEs, Mr Temitola Adekunle-Johnson (@tjadekunle) applauded the partnership between government and stakeholders in the MSME space over the past few years, attributing the achievements recorded in the sector to the robust and productive engagements within the ecosystem.
He assured various associations, cooperatives and groups in the MSME space of continued support from government, especially in the areas of access to affordable finance, provision of modern production facilities, among others.
In separate remarks, the Chief Executive Officers of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Charles Odii; Nigerian Export Promotion Council (NEPC), Mrs Nonye Ayeni; Nigeria Export Import Bank (NEXIM), Mr Abba Bello; and the Industrial Training Fund (ITF), Dr. Afiz Oluwatoyin Ogun, reaffirmed their commitment to deepening government interventions anchored through their respective agencies for the growth of MSMEs across Nigeria.
They assured small business owners across the country that more interventions were planned for the benefit of stakeholders in the areas of training and capacity building, expansion of access to market, access to affordable finance, grants and production equipment.
Also, the President of the Association of Women in Textile and Garments, Hauwa Abubakar, appealed for improved access to affordable financing, training and international markets to enable women entrepreneurs to expand their businesses and create more jobs.
"Women are determined and have the skills to run their businesses, create jobs and contribute to the economy, but most women in my association face challenges with training, funding, access to international markets and engagement with relevant stakeholders," she said.
Similarly, the President of the National Association of Small Scale Industrialists, Solomon Daniel Vongfa, called for deliberate government interventions to strengthen MSMEs, describing the sector as critical to Nigeria's industrial development.
"Because of the numerical strength of MSMEs, we need more government support. We are very relevant, and the government must make deliberate efforts to strengthen this sector for the country to attain its full industrial potential," he stated.
Vongfa urged the Federal Government to deepen engagement with small businesses and expand targeted support to enable them to contribute more effectively to economic growth and job creation.
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