Abuja: The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is transitioning its support for Micro, Small, and Medium Enterprises (MSMEs) from mere survival tactics to strategies aimed at scalable growth. According to News Agency of Nigeria, this strategic shift was articulated by Mr. Charles Odii, SMEDAN Director-General, at the National Stakeholders Validation workshop focused on reviewing the National Policy on MSMEs in Abuja.
Odii, represented by Mr. Philip Udeochu, Acting Director of Policy Planning, Research, and Statistics, emphasized that the revised policy aims to create a unified national delivery structure for MSMEs, moving away from disjointed programs. The new policy framework will prioritize factors such as productivity, competitiveness, digital transformation, and the capacity of enterprises to compete on a regional and global scale.
The policy is crafted to aid Nigerian MSMEs in thriving and scaling their operations, rather than merely surviving. This revision follows comprehensive consultations with entrepreneurs and stakeholders nationwide, spanning various sectors including marketplaces, workshops, farms, and digital platforms.
The SMEDAN leader highlighted that the revised policy will foster formalization, job creation, enterprise growth, and stronger partnerships with financial institutions and development partners. Stakeholders are encouraged to critically evaluate the draft to ensure the final policy aligns with the realities faced by Nigerian entrepreneurs.
Dr. Chris Isokpunwu, Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, represented by Mrs. Olumuyiwa Ajayi, Director of the Industrial Development Department, remarked that the review is timely given the changing economic conditions, emerging technologies, and evolving business models. He underscored the pivotal role MSMEs play in entrepreneurship, employment generation, innovation, value creation, and inclusive economic participation, urging stakeholders to ensure the revised policy includes strong institutional arrangements and effective coordination and evaluation frameworks.
Mr. Omoware Akinropo, Head of Component, SEDIN, GIZ, underscored the importance of effective implementation to achieve the policy’s objectives. He recommended that SMEDAN maintain the Technical Working Group beyond the validation process to assist with implementation, monitoring, reporting, and coordination. Akinropo identified weak coordination among federal, state, and local governments as a significant challenge to MSME policy execution and assured continued technical support from GIZ.
Similarly, Mr. Anum Serumun, Administrative Secretary of the National Association of Small and Medium Industries (NASSI), encouraged participants to utilize the workshop to enhance skills, innovation, and networking.