MSMEs ask FG to provide intervention funds

Akpan Umoh, Uyo

The Micro, Small and Medium Entreprises (MSMEs) stakeholders have called on the Federal Government through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide intervention funds for the development of small-scale businesses in the state.

The stakeholders said this in their separate presentations at the stakeholders’ meeting organised by SMEDAN to know their challenges and to develop policies to remedy their problems in Uyo on Thursday.

In his presentation, Mr Ime Edoho, Akwa Ibom State, Chairman, Nigerian Association of Small and Medium Entreprises (NASME) urged the federal government through SMEDAN to subsidise financing for MSMEs to strengthen their capacity as a result of the effect of the COVID-19 pandemic on their businesses.

“Since the role of Business Membership Organisation (BMO) is complimentary to that of government, NASME in Akwa Ibom State is poised to be an agent of positive change in the state economy as its provide employment, skill training for women and youths which is the basis for industrial development and sustainability of our state economy,” Edoho said.

Another participant at the stakeholders meeting, Mrs Glory Etiekak, Chief Executive Officer of Natures Glory Limited said that funding has been a major challenge for small-scale businesses in the state.

She called on the government to provide enabling environments and facilities to small-scale businesses to help them register and enhance their business development.

“I’m very privileged to be here to attend this stakeholders meeting. It is something that we have been looking forward to. Imagine the DG of SMEDAN here in Akwa Ibom State having this meeting with us.

“Funding has been a major concern for a lot of entrepreneurs. We know how the economy and the system are, having funding, especially for people who are into production like processing raw materials for local consumption and for export,” she said.

In his contribution, Mr Samuel Ekpenyong, State Chairman of Ibom Entrepreneurs and Artisan Association appealed to the government to reduce the cost of business registration by the Standard Organisation of Nigeria (SON) for entrepreneurs in the state.

Ekpenyong called on the government to provide economic friendly policies for businesses to strive in the state.

In his remarks, the Director General/Chief Executive Officer of SMEDAN, Mr Olawale Fasanya, said the stakeholders meeting was organised to interact with MSMEs so that they could plan intervention programmes for them. 

Fasanya said that there was hope for Nigerian entrepreneurs as the federal government was making policies to enhance business development in the country.

“We are here today to interact with stakeholders in Micro, Small and Medium Enterprises (MSMEs) development, so that, we can discuss with them and while planning our intervention programme, we will be doing it on the demand side and not just from the supply side”

“So, the idea is to harvest input that will assist us to know where the shoe is pinching all business owners. 

“There is a lot of hope for business owners because as we are here, we are going to play an advocacy role.

“We will network with other sister agencies. There is no more working in silence, we will see how we can work with other sister agencies who have things to do with MSMEs development.

“Some of the participants have raised the issue with Standard Organisation of Nigeria (SON) and NAFDAC and these are the issues we will take up and that is why we are here. So, if we don’t hear from them we will not know exactly what to do to fill the gap.

“For now, with the information we are gathering here, when we go back, we will get in touch with other sister agencies that have something to do with MSMEs and we will be able to resolve these issues,” Fasanya said