Economy

Forum tasks FG on MSMEs growth

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Forum tasks FG on MSMEs growth

Forum of Micro, Small and Medium Enterprises (MSMEs) Business Membership Organisations of Nigeria  (BMO) has called on the Federal Government to remain committed to the growth of the MSMEs for economic development.

A delegation of the Forum made the call on Friday during a courtesy visit to the Minister of Industry, Trade and Investment, Otunba Richard Adebayo in Abuja.

According the Forum, the visit is to brief the minister on its plans and programmes as well as to seek support and areas of possible collaboration towards creating enabling environment for MSMEs operators.

Dr Albert Akinyemi, Chairman Board of Trustees of the Forum, said that MSMEs could create the needed succour as Nigeria looked toward economic recovery from the current economic challenges caused by the COVID-19 pandemic.

He explained that the Forum seeks to institutionalise the MSME subsector in Nigeria as it is being done in developed economies of the world.

He therefore urged the Federal Government to support and work with the Forum towards harmonising operations of MSMEs for enhanced contribution to GDP.

He said: “MSME subsector is regarded all over the world as the engine of economic growth.

“It is important for both public and private sectors to join hands in evolving enduring solutions to our seemingly intractable MSME economic problems.”

Alhaji Garba Gusau, National President of the Forum, said: “There is need for government to bring all the BMOs together in order for it to contribute more to national economy.

“This is because the subsector is currently fragmented and its operators are not behaving as one big family, and that is why there is need for an umbrella body.

“Section 5 of the SMEDAN MSME Policy recognised that the development of the MSMEs in Nigeria involves a wide spectrum of public and private sector led institutions and organisations.

“Like what we have in Europe and other parts of the world, the Forum is a unifying force for Nigeria MSMEs and aims to brace the trail for the whole of Africa in future,” he said.

Gusau therefore requested that relevant agencies under the ministry should nominate desk officers to represent them at the Forum’s activities.

He also prayed the ministry to support and assist the Forum in relating with relevant parastatals under it on issues concerning the development of MSMEs in Nigeria.

In his response, the Minister commended the Forum, and stated that MSMEs  formed a very important constituent of the Federal Government Economic Sustainability Plan.

He therefore pledged support towards working with the Forum in realizing its mandate.

“The Federal Government clearly understands the place of MSMEs development and that is why this ministry is doing everything possible to support them.

“We will do everything possible as a ministry to give you the needed support,” he said.

NAN reports that the Forum of MSMEs BMOs is an umbrella body created for a coordinated engagement with stakeholders on issues facing the growth and development of the MSME subsector.(NAN)

(NAN)

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