The Federal Government has expressed its commitment to strengthen Micro Small and Medium Entreprises, MSMEs in order to alleviate poverty, unemployment and other economic challenges confronting Nigeria.
The Permanent Secretary, Federal Ministry of Industry, Trade, and Investment, Mr. Edet Akpan stated this yesterday in Uyo, Akwa Ibom state during his opening remark at the technical session of the 11th meeting of National Council of Industry, Trade and Investment, (NCITI).
Akpan said, “The choice of the theme of this year’s council meeting, “The role of Small and Medium Businesses in poverty alleviation in Nigeria:The way forward” is apt considering the commitment of the administration of President Buhari to address critical economic challenges confronting the country with a set target of lifting 100million Nigerians out of poverty in the next ten years.
“It is a fact that MSMEs as an engine of growth contributes almost half of Nigeria’s Gross Domestic Product, (GDP). In realization of this positive impact, the government has put in place various measures towards strengthening Small and Medium Businesses as a bedroom of industrialisation, job creation and poverty alleviation in Nigeria”
“Some of the strategic measures towards strengthening MSMEs development in Nigeria include sustained efforts to build capacity, increase access to finance and eliminating bottlenecks in the conduct of businesses”
Akpan who is also Chairman of the technical session commended the impressive support of the state government for accepting to host the National Council meeting.
In his welcome remarks the state Commissioner for Trade and Investment, Prince Ukpong Akpabio said the focus of the Completion agenda of state government is the development of Small and Medium Scale Entreprises, (SMEs).
“In particular, we are desirous of raising at least 30,000 viable SMEs in the state before 2023. In 2020 the state government will build and operate SMEs cluster to create a community of businesses to enhance entrepreneurship development, global trade and competitiveness.
“The State Executive Council recently approved ‘Ibom 3,000 project’ as an operational scheme to identify and train 3,000 SMEs beneficiaries drawn from across the three Senatorial districts of the state on at least one industry skill in the first phase of the programme which will commence in January, 2020.
“In Akwa Ibom we are blessed with an SME friendly governor who knows the role that healthy SMEs play in stimulating economic transformation”, Prince Akpabio noted.