The Federal Ministry of Industry, Trade and Investment has organised a capacity for 150 entrepreneurs of Micro, Small and Medium Enterprises across the Northeast states.
At a one-day training held in Bauchi l for the North-East region, the participants were trained on: “Financial Literacy, Business Management Skills and Credit Worthiness including Loan Application Process in Northern Nigeria”.
According to the Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Dr. Evelyn Ngige, said that “MSMEs play a critical role in the world economy –especially developing countries like Nigeria, despite the potential to make significant contributions to the economy.”
Ngige, who was represented by her subordinate, Enyi Eche Edward said the potential from the MSMEs is constrained due to poor financial lliteracy, poor business management, skills and access to affordable finance which she said is inhibiting the output in the economy.
She said that the government over the years has introduced some loan packages to the development of MSMEs which she said include the N220 billion MSMEs Development Fund, Central Bank of Nigeria Anchor Borrower Programme, AgricBusiness, Small and Medium Enterprise Investment Scheme, N10billion National Entreprise Development Programme, N75billion NMSMEs Survival and Guarantee Upscale Scheme and Targeted Facility.
Also Speaking, the State Commissioner Ministry of Industry, Trade and Investment Mahmud Baba Ma’aji represented by a Director in the Ministry Hajiya Jummai Bala described the move as timely and urged the participants to take full advantage of the opportunity provided them.
According to him, the initiative would complement effort of the state government in providing better opportunities aimed at improving commercial activities.
Some of the participants commended the state and federal government for the initiative and promised to use the knowledge acquired in a manner that would promote their respective businesses.
