The federal government has stated its prepardness to create an enabling environment for Micro, Small and Medium Enterprises to thrive and make the country one of the ten best reforming economies of the world.
Vice President, Yemi Osibajo made this known while flagging off the second phase of National MSME Clinics for viable Enterprises for Ebonyi State at the Christian Ecumenical Centre, Abakaliki.
Osibajo stated that the Federal government is committed to transforming the economy and urged small businesses to take advantage on the opportunity offered Micro, Small and Medium Enterprise.
He 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.
The Vice President listed some of the challenges to include access to credit facilities, big machines, registration of products and overzealousness of government officials and 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.”
According to him, 90 billion funds have been earmarked for agriculture-based MSMEs by the Central Bank of Nigeria, CBN as National Agency for Food, Drug Administration and Control, NAFDAC is rolling out an E-platform for registration of products.
Welcoming Vice President Osinbajo to the State, Governor David Umahi called on the Federal Government to improve power supply to the State to boost industrialization plan of the present administration.
The Governor who has ensured the empowerment of several youths and women across the state urged the Federal government to look into the way and manner elections were conducted in the country in order to ensure the safety of lives and property of Nigerian citizens.
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