The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), says no fewer than 100 Small and Medium Enterprises are to participate at the 2022 Lagos MSMEs fair.
The Director-General of SMEDAN, Mr Olawale Fasanya said this in a statement issued on Thursday in Abuja.
According to him, the event will afford exhibitors the opportunity to showcase their wares and enjoy business advisory services on how to upscale their businesses.
According to Fasanya, the fair scheduled to hold in Ipodo, Ikeja from Sept. 26 to Sept. 30, has as its theme “Competing for Market’’.
“Over 100 MSMEs are expected to participate in the 2022 MSMEs fair to be held in Ipodo, Ikeja, Lagos State next Monday.
“This year’s MSMEs fair in Ipodo will afford exhibitors the opportunity to showcase their wares as well as enjoy business advisory services from SMEDAN on how to upscale their businesses,’’ Fasanya said.
He described MSMEs fairs as veritable ground to promote Made-in-Nigeria products.
“The fair offers MSMEs a real life platform to hook up to not only market opportunities but also to network with relevant agencies in the MSME ecosystem.
“SMEDAN has come to embrace the Ipodo fair because of the success recorded in the maiden edition and we shall continue to support MSMEs as they are the backbone of any thriving economy.
“The agency recently organised a successful opportunity fair in collaboration with the Edo State Government in Benin City and next week, we shall also be organising another opportunity fair in Jos. “All these are targeted at encouraging our MSMEs and boosting Made-in-Nigeria goods,’’ he said.
Fasanya pledged that SMEDAN would continue to step up sustainable programmes to boost the capacity of MSMEs in Nigeria.
According to him, sustainable initiatives and organisation of trade fairs and expos as well as sensitisation will boost patronage of Made-in- Nigeria goods.
“Most people are ignorant of the fact that quality and durable products are also produced by MSMEs in Nigeria,” he said.
Fasanya said that the Ipodo fair would show that Nigeria’s MSMEs caould produce good things and this would make the people to have a rethink and improve on the patronage of locally made product.
He said that the agency was planning to host an opportunity fair for the people with disability in the near future.
The News Agency of Nigeria reports that the fair organised by SMEDAN is the second in the series.
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has trained 40 Internally Displaced Persons (IDPs), Prison Inmates and Retired Civil Servants in Katsina State.
The Director- General (DG) of the Agency, Mr. Olawale Fasanya, disclosed this to the News Agency of Nigeria on the sideline of the training in Katsina onTuesday.
Represented by Alhaji Ado Bello, Deputy Director (DD), Enterprisership, Headquarters, Abuja, Fasanya said N8.5 million was spent on the procurement of skills materials which was given free of charge to the participants after the training.
He noted that the training was designed to provide enterpreneurship and vocational skills as well as provide equipment to fill the existing gaps to the target group.
“We decided to assist these vulnerable group because insecurity had forced them out of their ancestral homes to take refuge in IDPs Camps, “About 700,000 of inmates, men and women were released from prisons each year, most of them were still rearrested after returning home because they dont have stable income or employment to take care of themselves, hence they still indulge in criminalities.
” “A lot of public servants who spent their lives serving the nation don’t even have skills of doing something to stand on their own.
According the DG, it is in view of these that most of them ran into serious problems and subsequently die of frustration.
“Therefore, we feel it is pertinent that we designed the Micro Small and Medium Enterprises (MSME) programme to support these vulnerable class to acquire skills that will make them earn a living and become relevant in the society,” he added.
The News Agency of Nigeria , reports that out of the 40 participants that benefitted in the training, 20 of them got 20 make-up materials at the rate of N250,000 each.
Another set of 20 people got 20 sowing machines at the rate of N175,000 each which made the total N8.5 million www.
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on Tuesday began specialised skills development programme for 40 retirees in Imo. The SMEDAN Director General, Mr Olawale Fasanya, who started the programme on Tuesday in Owerri, said it was aimed to promote skills development and financial independence among retirees.
Fasanya who was represented by the Assistant Director, Enterprise Development and Promotion, Mr Tunde Oloidi, said the programme would be on Micro, Small and Medium Enterprises (MSME).
He said this would not only alleviate poverty but also promote self-reliance.
He added that the programme would enhance participants’ engagement in productive ventures as they would be provided with starter packs in vulcanising and food processing at the end of the training.
Oloidi noted that the decision to focus on food processing and vulcanising stemmed from the assessment exercise conducted by the state manager of the agency.
“It is a programme designed to provide entrepreneurship skills, refresher vocational skills and provision of empowerment materials to fill capacity gaps of the target group.
“This will ensure they earn income through filling the artisanal gap in Nigeria and consequently promote skills development among retirees,” he said.
He further commended the state Governor, Hope Uzodimma, for providing an enabling environment for MSMEs to thrive in the state.
Also, Mr Paul Ozumba, the Commissioner for Labour, Productivity and Employment, commended SMEDAN for promoting job creation and empowerment in the state.
Ozumba, who was represented by Mr Kelechi Ekomaru, a staff of the ministry also commended the agency for including Imo in the programme and urged beneficiaries to make the most of the opportunity.
Earlier, the state Chairman of the Nigerian Union of Pensioners, Dr Josiah Ugochukwu, said the programme was a welcome innovation and perfect for pensioners.
He said most pensioners had nothing to fall back on after retirement and as such, would greatly benefit from the programme.
“This is a well thought out programme and it is a welcome development; most of us have been idle because we have nothing to fall back on after retirement.
“This will go a long way in alleviating the idleness while giving us a chance to earn a little more in addition to our pension and help us with our responsibilities,” he said.
NAN) The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has commenced training of 240 Internally Displaced Persons (IDPs), correctional inmates and retirees on entrepreneurial skills across six states of the federation.
Mr Olawale Fasanya, Director-General of the agency stated this while flagging off a five-day training of Specialised Skills Development for Micro, Small and Medium Enterprises (MSMEs) programme in Minna on Monday.
Fasanya said that the 240 beneficiaries from Niger, Ondo, Imo, Katsina, Borno and Rivers states would be trained on entrepreneurship, vocational skills for self reliance as well as empowerment materials.
He explained that the programme, which is in three folds would provide startup package and support to the IDPs, retirees as well as correctional inmates in a special way.
According to him the programme is aimed at creating jobs and alleviate poverty through empowering IDPs, inmates and retirees to ensure that they became self reliant and financially independent.
Fasanya further said that the agency had implemented Conditional Grant Transfer Scheme for micro enterprises in Nigeria, in which 40,000 entrepreneurs from 22 states across the country have benefitted from N50,000 grant.
He also explained that the agency is implementing One Local Government One Product initiative in all the senatorial districts in Nigeria.
In his remarks, Malam Adamu Salihu, Director-General Niger State Chamber of Commerce, advised retired civil servants to as a matter of urgency, acquire various skills that would make them more productive in the society.
The Small and Medium Enterprises Development Agency (SMEDAN) has begun a three-day capacity building training for 100 entrepreneurship teachers in Damaturu, Yobe. SMEDAN Director-General, Mr Olawale Fasanya, stated this at the inauguration of the training exercise on Tuesday in Damaturu.
The exercise is being implemented under the agency’s Mind Shift Entrepreneurship Programme-National School Entrepreneurship Programme (N-SEP) .
He said the participants drawn from basic and post basic schools were being trained with the expectation that they would step down what they learn to their students and pupils at the end of the exercise.
Represented by Dr Yinka Fisher, Fasanya noted that the training was pertinent and timely, considering the dearth of white collar jobs in the country.
“The concept is designed to inculcate into the students the intelligent and intellectual consciousness of environment to enable maximise existence and potential.
“Today’s education should therefore be predicated on the philosophy of creating jobs, i.
e. turning the students from being job seekers to job creators.
“It is no more go to school, get good grades and get a good job.
“It is how to go to school, get good grades and acquire skills of being your own boss – starting your own business,” he said.
He said the programme, which commenced in 2017 had so far been implemented in 34 states and the Federal Capital Territory (FCT), adding that the remaining states would benefit from the programme before the end of 2022. Fasanya said the agency would also introduce school entrepreneurship competition for secondary schools in the country in 2023. In his remarks, Alhaji Yakubu Sani, Director, Entrepreneurship, Business and Sustainability, state Ministry of Wealth Creation, Empowerment and Employment Generation, thanked SMEDAN for the gesture.
He said unemployment, especially among the youths has been identified as the major causes of insurgency and other violent crimes.
Sani said the state was ready to take ownership of the programme, adding that the ministry had concluded arrangements to provide soft loans to women and youth entrepreneurs.
Mr Masudur Rahman, the Bangladesh High Commissioner to Nigeria, has solicited the collaboration of the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) to explore opportunities in the nation’s various sectors.
Rahman said this during a visit to the Director-General of SMEDAN, Mr Olawale Fasanya, in his office on Monday in Abuja.
He said that the collaboration would help to grow the economies of both countries.
Rahman said that Nigeria and Bangladesh could collaborate in the textile, pharmaceutical, , energy and Information Communication Technology (ICT) industries.
He said that Bangladesh had comparative advantage in most of the sectors, while entrepreneurs in Nigeria could tap into experiences of their contemporaries in the country.
Rahman said the partnership would also improve the intra-trade volume of both countries.
He noted that his country has experienced progress in micro-economic growth.
”Nigeria will be holding an SME multilateral platform event in October.
”We look forward to enhancing the intra-trade between the countries because there will be huge opportunities from the event.
”As a diplomat, bureaucrat, I am convinced that entrepreneurs will find their way out to do meaningful businesses that can help the two economies and bring about growth,” Rahman said.
Responding, Fasanya said that Nigeria’s economy was similar to Bangladeshi economy.
The director-general said that SMEs in the country had a lot to learn from their Bangladesh counterpart.
He said that the country would be hosting SME summit in October to facilitate exchange of ideas.
Fasanya said that both countries could collaborate in various areas to explore the benefits to the Micro, Small and Medium Enterprises (MSMEs).
The director-general said that the proposed SME centre would help coordinate activities for exchange of ideas, innovative technology and markets.
”We have a lot to learn from you because you have been able to develop faster and in terms of economic variables in Bangladesh.
”We will look at all areas that we can collaborate,” he said.
Growing Nigeria’s economy through accelerated diversification Growing Nigeria’s economy through accelerated diversificationMr Godwin Emefiele, CBN Governor By Kadiri Abdulrahman, News Agency of Nigeria As the Federal Government continues undertake initiatives to overcome economic challenges occasioned by varied local and global factors, stakeholders say the authorities should accelerate economic diversification initiatives.
At a recent forum in Abuja, some stakeholders called for a synergy between monetary and fiscal authorities to diversify the economy and create multiple revenue sources.
They complained that heavy dependence on crude oil for foreign exchange earning has left the country vulnerable to global economic shocks and force majeurs.
According to the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, the quest for building a diversified economy is a major component of Federal Government’s monetary policy.
At the recently held 33rd finance correspondents and editors seminar, Emefiele was quoted as saying that the diversified economy will be built around agriculture, Micro, Small and Medium and Enterprises (MSMEs) industrial and manufacturing concerns.
He said that Nigeria had largely depended on the oil sector for revenue generation over the past four decades, adding that decline in crude oil production had undermine the performance of the economy.
“There is the urgent need for a conscientious effort to diversify to other non-oil sectors.
Our population has been growing by over three per cent per annum over the past seven years, against a less than steady growth in output since 2019. “It is important that we work to create an economy that will enable us feed ourselves, create jobs for our teeming youths and improve the standard of living of our people,” he said.
He said that economic challenges brought about by the advent of Covid-19 pandemic and the Russian-Ukrainian conflict had also made the idea of economic diversification imperative.
“As the world is gradually exiting the devastating negative shocks and impact of Covid-19, the economic sanctions against Russia have further worsened the subsisting supply-chain disruptions across the globe.
“Therefore, the quest for building a more sophisticated economy anchored on agriculture, MSMEs, industrial and manufacturing concerns has become the major component of our monetary policy,” he said.
Statistics show that if well harnessed, the MSMEs can indeed become the springboard that will launch the nation’s economy to greater heights.
The media recently quoted the Director-Genera of Micro, Small and Medium Enterprises Development Agency (SMEDAN), Mr Olawale Fasanya as saying that MSMEs contribute 43.31 per cent of the nation’s Gross Domestic Product (GPD).
The figure, he said, is an outcome of a 2022 survey conducted by the agency in collaboration with National Bureau of Statistics.
Fasanya, who spoke ahead of 2022 World MSMEs Day in Abuja, the also said that the enterprises employ an estimated 39.65 Nigerians representing 87.9 per cent of Nigeria’s workforce.
The Director of Trade and Exchange Department of the CBN, Dr Ozoemena Nnaji, said diversification will accelerate economic growth.
According to Nnaji, the status of Nigeria as a mono-product economy had been detrimental to economic growth.
According to her, a mono-product economy is unstable, adding that “an increase or decrease in the world price of the mono product will affect the budget of the economy.
“It may witness a high percentage of unemployment; it is import-dependent and cannot stand on its own.
It weakens the foreign exchange base of the country’s economy,” she said.
She said that the overbearing impact of the oil sector on the nation’s economy exposed the country to external shocks whenever there is change in price.
“To insulate the Nigerian economy from the shocks and foreign exchange shortages, there is need to develop new strategies aimed at earning more stable and sustainable inflows of FX through diversification of the non-oil export sector, ” she said.
She also said that diversification would guarantee sectoral dependence and balance in the economy.
She said that the need for more sources of export to reduce importation of goods and services that can be produced locally makes diversification imperative.
“There is the need for promotion of international trade that will lead to balance of payment position.
“There is also need for a dynamic economy capable of absorbing shocks while maintaining full employment; the need for a high rate of economic growth and development,” she said.
An economic expert, Prof. Ken Ife, urged the Federal Government to improve its commitment to the agricultural and manufacturing sectors of the economy to spur diversification.
Ife said in spite of huge intervention in the agricultural sector in recent times, output appeared to be inadequate.
“Public leadership of agricultural development programmes has resulted in the construction of 300 dams, huge strategic grain reserves, and other investments.
“The high number of dams, together with the rains and rivers give Nigeria four times surface water than South Africa.
“But, only a handful of the dams are used for power generation, irrigation for dry-season farming and aqua culture,” said Ife who consults for ECOWAS Commission, World Bank, among others .
He commended the CBN for its various interventions in agriculture and other non-oil sectors.
“As at February, N948 billion in loans have been given to 4.4 million farmers cultivating 5.2 million hectares, creating 12.5 million direct jobs,” he said.
Another economist, Dr Abiodun Adedipe, called for a deliberate alignment of policies across fiscal, monetary, commercial and industrial planks, to stem dependence on crude oil.
Adedipe, a member of Nigeria Economic Society; and American Economic Association, advised the government to reform and rationalise governance as the structure was convoluted and costly.
He said there was also the need to focus on industrialisation by revisiting and updating the National Industrial Revolution plan.
He urged the government to commit to local production of essential goods and target infrastructure development.
As the debate lingers among Nigerians as to the best formant to fast-track economic growth, Nigerians remain expectant for concrete economic diversification and revenue generation initiatives that will have more positive impact on the citizenry.
****If used please credit the author and News Agency of Nigeria
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says it plans to establish Business Information Centres in all the 774 Local Government Areas (LGAs) of the country.
Mr Olawale Fasanya, the Director General, SMEDAN, said this at a stakeholders’ dialogue on the implementation of the National Micro, Small and Medium Enterprises (NSMEs) Policy in Plateau on Thursday in Jos. According to Fasanya, the gesture would enable small scale business holders; particularly those at rural levels have access to information about our programmes.
He said that the gesture would deepen the agency’s reach and bring its presence to bear in rural areas.
”We have a lot of programmes; there are huge funds for people to access but the problem is lack of access to the right information.
”So, part of the strategy we want to use to solve this problem is to have business information centres across all the LGAs. ”We cannot be everywhere, but we will work with states and LGAs to see how we can deepen our reach,” he said.
The D-G said that most of the programmes were geared toward the people at the grassroots, since they formed bulk of where MSMEs were located in the country.
”Most of our programmes are directed at the grassroots people, because our current survey shows that out of the 39.6 million MSMEs that we have in Nigeria, 96.7 per cent of them are in the informal sector.
”Majority of Nigerians are in that class, and we cannot afford to neglect them.
”Currently, we are giving conditional cash transfer to people at the bottom of pyramid, but lack of adequate information has been a serious issue,” he said.
On the stakeholders’ dialogue, Fasanya said that it was aimed at getting feedback and suggestions from stakeholders at the state levels, with a view to improving on the agency’s intervention.
”We are here to harvest inputs from stakeholders, which we believe will assist us to decide on impactful intervention programmes for MSMEs ”We don’t have to assume that we know it all, because it makes it better when you come out like this and hear from the stakeholders.
”Things are changing every day, so this interaction will help us to feel existing gaps, resolve some of the challenges confronting MSMEs and the best way is to hear from the stakeholders,” he said.
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and iTEKKU, an online marketing platform, have signed a Memorandum of Understanding to upscale Micro, Small and Medium Enterprises (MSMEs) profitability and growth in the country.
Director-General, SMEDAN, Mr Olawale Fasanya, at the MoU signing on Tuesday in Lagos, said the idea was to improve the competitiveness and scalability of Nigerian MSMEs in spite of the economic challenges facing the country.
He said the development would provide some value and incentives such as medical insurance at a subsidised rate and advisory services for MSMEs. He said with the MoU, MSMEs would be given access to carry out commercial transactions with consumers, providing solutions to their marketing problems.
Fasanya added that the businesses would have access to interact with consumers directly by displaying information, business profiles and product offerings; also able to communicate with consumers, validating payments and other activities.
“We are excited that it is young people like you that are driving these, because part of our priority clientele are women and youths.
“We want to make sure that we work with a lot of youths with innovative ideas that can easily impact the ecosystem as we believe that you will put all your energy into this.
“There would be other initiatives that would come to complement the package, so it is not just a market place but a place MSMEs would come aboard and benefit from some incentives,” he said.
Commenting on the partnership and its benefits to MSMEs in the country, the Co-Founder, iTEKKU, Mr Olupitan Ayomide, said the company was committed to boosting MSMEs in Nigeria by upscaling them on their platform, also improving the goals of SMEDAN.
He explained that merchants, consumers and resellers, logistics and last mile delivery, credit (buy-now-pay-later) and payment systems were among the stakeholders connected to their platforms.
“iTEKKU, an online market, is a social commerce platform that enhances the concept of Business to Consumer (B2C) and provides an opportunity for MSMEs to expand.
“MSMEs are the lifeline of any economy, especially in emerging markets like Nigeria, yet, this segment of the market has limited access to the customers that require these products and services.
“Our approach seeks to address these challenges through the ITEKKU Marketplace.
“iTEKKU is solving problems across various sectors majorly targeting the MSME for them to scale up their businesses by exposing them to the markets, users that would come on our platforms to buy from them.
“They do not have to go through the stress or issues of having to do their marketing personally for themselves.
“They have a platform now where they can come and upload their catalogues for services that they offer and have access to users that can reach them and buy the products and services,” he said.
The Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) on Thursday certified 150 Business Development Service Providers (BDSPs) to improve the growth of Micro, Small and Medium Enterprises (MSME) in Nigeria.
The Minister of State for Industry, Trade and Investment (FMITI), Hajia Mariam Katagum, at the virtual presentation in Lagos, said the certification programme for trained and practicing BDSPs was important for the continuous growth of MSMEs in the country.
Katagum, represented by Mr Adewale Bakare, Director, Industry Development, FMITI, said the Ministry was in the forefront of efforts to establish a platform for enthroning professionalism with the BDSP ecosystem in Nigeria.
She said it was agreed by the ministry and other relevant stakeholders within the MSME sub-sector in Nigeria that only certified BDSPs would be allowed to deliverer capacity building, mentorship, counselling and other forms of BDS to MSMEs in Nigeria.
She added that SMEDAN would post the names of the second batch of the certified Business Development Service Providers on its website.
Katagum stated that there would be posting of other social media handles and special advertisements in major newspapers in Nigeria for all current and potential users of BDSPs in Nigeria.
She urged certified BDSPs to use the opportunity to solve the challenges comfronting MSMEs in Nigeria.
Director-General, SMEDAN, Mr Olawale Fasanya, said the certification would ensure that both existing and potential BDSPs had the opportunity to prove their technical competence towards supporting MSMEs in Nigeria.
“The posting on other social media handles and special advertisements in major newspapers in Nigeria for all current and potential users of BDSPs in Nigeria to draw from will be effected as soon as possible.
“In addition, to show commitment and sincerity of purpose, the Agency will ensure that, going forward, being a certified BDSP will now be one of the criteria for bidding for capacity building programmes in the Agency,” he said.
He revealed that SMEDAN in its determination to address the challenges confronting the MSMEs in Nigeria in a holistic manner,was implementing the One Local government One Product (OLOP) initiative in one hundred and nine (109) senatorial districts in the country.
“This ambitious effort of the Agency is based on the successful implementation of the pilot phase of the OLOP programme in Katsina, Kaduna, FCT, Osun and Anambra States three years ago.
“The intervention activities under OLOP, among others, include access to workspace, equipment support, access to working capital, and capacity building,” he said.
He added that in the same vein, the agency was implementing the Conditional Grant Scheme (CGS) for micro enterprises in Nigeria.
“This programme is aimed at formalising a majority of the nano and micro enterprises that are mostly operating in the informal sector.
“This programme, which involves capacity building, registration of the micro enterprises with the CAC, provision of micro insurance, opening of bank accounts and provision of grants (N50,000 each) has so far been implemented in 22 States where over 40,000 entrepreneurs have been impacted,” he said.
Director General, National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Chistianah Adeyeye, said NAFDAC had created 50 per cent discount for MSME registration to encourage more participants in the profession.
Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, represented by the Director of State, FIRS, Mr Abubakar Muhammed, commended the effort of the awardees and assured them of the service’s continuous collaboration.
He said the service had introduced a lot of polices and platforms such as 10 per cent discount for about 20 million business development services.
The Director, Enterprise Development Centre, Pan Africa Atlantic University, Dr Peter Bamkole, commended SMEDAN for its professionalism, saying that the network would ease challenges encountered by MSMEs in Nigeria.
He urged participants and awardees to operate with due diligent, adding that they would be recertified every three years for proper checks and balances.