National policy on MSME would enhance economic growth, says SMEDAN DG

By Ese Awhotu

The Director General of the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Dr. Dikko Umaru Radda has assured the national policy on MSMEs that is undergoing review would engender the much needed socio economic development of the country.
In addition, he said the policy would enable stakeholders have a clearer picture of the importance of the MSME subsector.
Dr Radda told stakeholders in Kano yesterday at the review of the National Plicy on MSMEs that the need for a long term MSME strategy provided by a national policy on MSMEs as an imperative for national development cannot be over emphasized.
He said this was why emphasis was placed on reviewing the document every four years to be sure that the full potentials that exist within the MSME space was fully explored and exploited.
Dr, Radda pointed out that the MSME space was dynamic, hence the need for the timed review of the policy. He expressed hope that discussions at the meeting would center on the need to raise broad based awareness and appreciation for entrepreneurship development, innovation and engagement of the youth in the entrepreneurial cycle.
The Director General also implored the stakeholders not to shy away from discussing the need to engage all enablers regulatory and compliance in mutual advocacy toward creating an environment that is truly enabling for MSMEs.
He urged them to concentrate on the need to facilitate access to more innovative and MSMEs friendly financial supports. adding we cannot also shy away from the issue of having a nationally acceptable definition and categorization of MSMEs.
Dr. Radda stated that if the government and all stakeholders collaborate to provide an enabling environment, the MSMEs could actually get the country out of the present predicament of unacceptable rate of unemployment, illicit financial engagements, insecurity, political and social violence etc.