By Chris Ochayi

For the nation to attain its aspiration to be among the top twenty economies in the world by the year 2020, it has to pay serious attention towards development of Micro, Small and Medium Enterprises, MSMEs, the Statistician General of Nigeria, Dr. Yemi Kale has said.

Dr. Kale’s remarks was contained in a data survey presented Wednesday in Abuja, which revealed that MSMEs play a very big role in the Nigerian economy, contributing about 46% of the Gross Domestic Product, GDP. The document which is the report on 2010 national MSME was conducted by the National Bureau of Statistics, NBS, in collaboration the Medium Enterprises Development Agency of Nigeria, SMEDAN.

The survey was conducted to determine the level of contribution of the sector to the Gross Domestic Product; Contribution to employment; Determine the number of MSMEs in Nigeria on geo-political and sectoral basis; Identify the challenges and constraints confronting the operations of MSMEs in Nigeria; Identify the skill gaps within the sector; as well as to determine the grow rate of MSMEs; among others.

The report presented by Dr Yemi Kale, Statistician General and Muhammad Nadada Umar Director-General/CEO of SMEDAN. Respectively, said the sector shows significance and the potential for growth if the properly developed “particular as the nation aspires to be among the top twenty economies in the world by the year 2020. The Report concludes by highlighting the challenges facing the MSME sector in Nigeria.

With weak infrastructure, lack of access to finance and inconsistent government policies listed as the main challenges. Many MSMEs lack knowledge of the various laws, policies or statutes that protect them and can help them expand and grow. MSMEs are a major employer in Nigeria, it is therefore important that they are made aware of what is available to them

“The NBS is delighted to have been associated with this study, as it provides adequate data that goes toward populating our statistical database and makes available, relevant data required for the development of the sector listed as the main challenges.

“Many MSMEs lack knowledge of the various laws, policies or statutes that protect them and can help them expand and grow. MSMEs are a major employer in Nigeria, it is therefore important that they are made aware of what is available to them.

The NBS is delighted to have been associated with this study, as it provides adequate data that goes toward populating our statistical database and makes available, relevant data required for the development of the sector.

“Accordingly, NBS in collaboration with the SMEDAN conducted a survey on Micro, Small and Medium Enterprises aimed at providing adequate and reliable baseline data for the development of the sector, based on activities that occurred in 2010.

“This study seeks to assess the Micro, Small and Medium Enterprises (MSMEs) objectively by presenting certain key data on the sector. Such data include MSMEs contribution to Gross Domestic Product (GDP), the number and structure of operatives in the sector and the main challenges and constraints confronting the sector. It also goes further to proffer solutions to the challenges, making policy recommendations to government for the development of the sector.

“The survey was conducted in all 36 states of the Federation including the Federal Capital Territory, Abuja. Divided into household and agric and business components, 300 micro enterprise households per state were visited while 4000 small and medium enterprises cutting across 12 sectors of the economy were covered.

“This sample provides estimates robust enough to compute the data. Chapter four provides analyses the findings of the survey data. Parameters such as number of enterprises by state and sector, start-up capital, ownership status by sector and gender are used to analyse the findings.”

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.