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SMEDAN partners MTN to register MSMEs nationwide

By Bankole Orimisan
29 January 2022   |   4:04 am
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has, in collaboration with MTN Nigeria, initiated the process of registering all Micro, Small and Medium Enterprises ...

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has, in collaboration with MTN Nigeria, initiated the process of registering all Micro, Small and Medium Enterprises (MSME) in the country under the MSME Mass Registration Programme (MMRP).
 
The two organisations struck the partnership to enable voluntary registration of MSMEs in the country via MTN’s platform as certified SMEDAN businesses with access to various government stimuli.

Nigeria had more than 41 million MSMEs that contributed over 59 million jobs as at 2021, which was well over 84 per cent of the country’s total labour force.

Many of the MSMEs require access to capital, capacity building, access to markets, equipment, innovations, information, linkages, etc. to sustain, grow and build their businesses into more profitable ventures.

 
The MSME Mass Registration Programme seeks to register and provide developmental benefits to over 75 per cent of the informal and semi-formal MSMEs within the first five years of implementation of the programme.

Speaking on the partnership during the unveiling of the project recently, the Chairman of SMEDAN, Otunba Femi Pedro, said: “The dearth of useable data across many sectors of the economy necessitated the need to kick-off the MSME mass registration project, which gives Nigerians more access to registered MSMEs. Getting the over 41 million MSMEs registered with SMEDAN will position MSMEs for stronger and better performance as we have carefully outlined benefits to combat major setbacks faced by MSMEs in the country.

“It is our desire that all MSMEs, including those on the MTN platform, register with SMEDAN by dialing *6555# and immediately start enjoying some of the benefits that will allow their business grow higher turnover.”

 
In his keynote address at the event, the Director-General of SMEDAN, Dr. Dikko Umaru Radda, also said: “SMEDAN has identified the need to register all MSMEs in Nigeria so they can fulfill their potential with proper guidance and exposure, and avoid business collapse that could drag business owners and employees deeper into poverty.

“Our obligation to these MSMEs is to help them grow their business, and ensure they can access every necessary information and linkages to becoming a generational business.”

SMEDAN was established by the SMEDAN Act of 2003 with the mandate to establish a structured and efficient MSMEs sector that will enhance sustainable economic development of Nigeria.

It was gathered that MSMEs that register with the short code, *6555#, would enjoy many benefits, including receiving a SMEDAN certificate with embedded SMEDAN Unique Identification Number (SUIN) confirming their business status; access to grants, loans and other financial services through SMEDAN or in partnership with other development agencies and access to capacity building, training and other learning opportunities for the business owners and employees. 

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