Minister Seeks Improved MSMEs Development

27 Dec 2012

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Minister of State for Trade and Investment, Dr. Samuel Ortom

Yemi Akinsuyi  

The Minister of State for Trade and Investment, Dr. Samuel Ortom, has called for a renewed effort into investment in Micro, Small and Medium Enterprises (MSMEs), adding that it would spur industrialisation, creation of jobs, wealth creation and poverty alleviation.

Ortom disclosed this while speaking in Abuja at the public presentation of the Enterprise Baseline Survey (EBS) by German Agency for International Development (GIZ).

To him, in the continued effort to generate more credible and reliable data for the MSMEs sub-sector in Nigeria, the Small and Medium Enterprises Development Agency (SMEDAN) in partnership with the GIZ and other stakeholders will continue to partner to ensure an enable environment for MSMEs growth in the country

He also expressed the need to increase MSMEs business in the country. “As you may probably be aware, the MSMEs are globally recognised as engine of the economic growth and industrialisation; they are incontrovertible contributors to job creation and poverty alleviation.

“The relevance of the data for planning and implementation of development programmes in the MSMEs sub-sector in Nigeria cannot be over-emphasised. Due to the absence of reliable and detailed MSMEs database, it has been very difficult to translate the general policy framework into effective and sustainable intervention programmes for the benefit of the MSMEs sub-sector in Nigeria.

“As part of the Ministry and in recognition of the importance of credible and reliable data for planning and policy formulation, the SMEDAN in collaboration with the National Bureau of Statistics (NBS) conducted the 2012 National MSMEs survey in the 36 states and Federal Capital Territory.

“The survey showed that they are 17,284,671 MSMEs in Nigeria employing 32,414884 persons and contributing 46.54 per cent to GDP in nominal terms. Deliberate efforts must be put place to grow these number if we must achieve our national vision of being among the 20 most industrialised nations by the year 2020”, he added.

Tags: Business, Featured, Minister, MSMEs Development, Nigeria

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