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SMEDAN works out modalities to access N220b SMEs fund


Photo; muscatdaily

Photo; muscatdaily

DIRECTOR-GENERAL, Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Alhaji Bature Umar Masari has said his agency is in discussion with both the national and state councils of Micro Small & Medium Enterprises Development (MSMEs) in working out modalities to soften the guidelines for accessing the N220 billion MSMEs fund domicile with the CBN to make it more accessible to ordinary Nigerians.

Masari stated this at the public presentation of the new national policy on micro, small and medium enterprises and the unveiling of the results of the 2013 national MSMEs survey in Abuja.

The SMEDAN boss said both bodies would work together to ensure proper coordination of all MSME activities in the country for the overall interest of the economic growth of the nation adding that the National Enterprise Development Programme (NEDEP) is the current focal programme of the agency.

According to Masari, all other activities of the agency are presumed under the programme adding that the NEDEP, which was inaugurated by former President Goodluck Jonathan on Feb. 15, 2014, was aimed at generating an estimated five million direct and indirect jobs between 2013 and 2015, adding that it is focusing on Skills Acquisition, Entrepreneurship Training/Business Development Service (BDS) and Access to Finance.

His words, “This is the first time that such a council is being set up by the highest body of government, which is the Federal Government.

The National Council of MSMEs came about as a result of government’s realisation of the need to ensure that all MSME activities in the country are properly coordinated. We need to have a coordinating body in ensuring the success of the programme.”

Masari noted that the council had been very busy and alert to its responsibility of ensuring that the problem of lack of access to finance and MSMEs development was properly sorted out.

He went further, “This is to ensure that Nigerians who hitherto had no access to funds can now access funds to establish enterprises of their choice. I want to assure you that Nigerians will witness a lot of transformation in accessing funds for the establishment of MSMEs in every local government area in the country.”

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