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FG Vows to Tackle MSMEs Challenges

From Our Correspondent

Vice President Yemi Osinbajo yesterday assured Small and Medium Enterprises Owners of Federal Government’s commitment towards solving some of the challenges facing the establishment and operations of Micro, Small and Medium Enterprises, MSMEs in the country.

He gave the assurance while flagging-off the second phase of National MSME Clinics for viable Enterprises for Ebonyi State at the Christian Ecumenical Centre, Abakaliki. Osinbajo who listed some of the challenges to include access to credit facilities, big machines, registration of products and overzealousness of government officials expressed optimism that the empowerment of MSMEs would lead to the economic growth of the country.

“The world over, Micro, Small and Medium Scale Enterprises, MSMEs, served as the engine room for the economic growth of societies, as they are often significant employers of skilled and unskilled labour, and are usually the key service providers to government and large corporations.

“Over the years in Nigeria, MSMEs have played a vital role in the overall economic growth of the country as they have consistently contributed significantly towards improving capacity, the standard of living and bringing about substantial local capital formation, power productivity and capability.

“In view of available statistics, the Government of Nigeria has found it imperative to initiate programs such as this to help to re-position MSMEs so as to drive inclusive economic growth, regional development, employment generation and poverty reduction as well as promote broad-based equitable development to promote more opportunities for youth participation in the economic development of the country”, he said.

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