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MSMEs Will Drive National Economy ― Experts

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sme, MSMEENABLING Environment, Soft Loans and Grants, Availability of raw materials and Elimination of multiple taxations have been identified as key to sustaining Micro, Small and Medium Enterprises (MSME).

These were the position of speakers at the National Micro, Small and Medium Enterprises (MSME) Clinics organized by the State government in Conjunction with the Federal Government in Onitsha.

Some of the agencies that participated at the MSMEs clinics were the Nigeria Export Promotion Council, Bank of Industry, Bank of
Agriculture, Development Bank of Nigeria, Federal Inland Revenue Service, Standard Organization of Nigeria, Corporate  Affairs Commission, the Nigeria Export-Import Bank, National Agency for Food, Drug Administration and Control, the Anambra Small Business Agency(ASBA), among others.

The aim of the clinics was to fashion out modalities that will help to sustain the MSMEs, sensitize them on the various opportunities
available for them as well as render help and services to them where necessary by both the state and federal governments for economic growth and national development.

Addressing the gathering, the South East Regional Coordinator, Nigeria Export Promotion Council, Mrs. Gertrude Ukoanaam, who said that the agency strictly deals with the promotion of non-oil products, explained that they help the MSMEs through product and market development, provision of export development fund as well as export expansion grant to enable the MSMEs in Nigeria, Export their products that will compete favourably at the international market.

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Mrs Ukoanaam further pointed out that the clinic is critical and imperative at this time when the federal government is vigorously pursuing zero oil plan initiative to diversify the nation’s economy and urged participants to put into practice, all the knowledge garnered at the event.

According to Mr Emmanuel Onugwu from the NAFDAC, the agency helps the MSMEs by reducing the cost of registration for companies, upgrading its website for efficiency and transparency and decentralisation registration of products, all in a bid to eliminate bottlenecks, hitherto, making it cumbersome to access the agency.

But what are some f the problems facing MSMEs in Nigeria?

An MSME operator, Mr Chukwuemeka Christian, told Nigerian Tribune that multiple taxations, lack of fund and unstable power supply,
including the high cost of raw materials, which make most imported goods cheaper than those produced locally, remain the only obstacle
threatening the survival of their business.

The post MSMEs Will Drive National Economy ― Experts appeared first on Tribune.

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