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VP flags off MSMEs in Ebonyi

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VICE President, Yemi Osinbajo has assured micro, small and medium business owners in Ebonyi State, of federal government’s commitment towards solving some of the challenges facing establishments and operations of their businesses.

  The vice president made this known in Abakaliki last week, when he flagged off the National MSMEs. He listed some of the challenges to include access to credit facilities, big machines and registration of products and overzealousness of government officials and expressed optimism that  empowerment of MSMEs would lead to economic growth of the country.

“The Micro, Small and Medium Scale Enterprises (MSMEs), serve as the engine room for economic growth of societies, as they are often significant employers of skilled and un-skilled labour, and are usually the key service providers to government and large corporations.

“In view of available statistics, the govermment of Nigeria has found it imperative to initiate programs such as this to help re-position MSMEs so as to drive inclusive economic growth, regional development, employment generation and poverty reduction as well as promote broad based equitable development to promote more opportunities for youth participation in the economic development of the country.”

According to him, N90 billion has been earmarked for agriculture based MSMEs by the Central Bank of Nigeria, as National Agency for Food, Drug Administration and Control (NAFDAC) is rolling out an E-platform for registration of products.

However, Group Head, Retail Banking Division, East, Access Bank, Mr Charles Oguibe, disclosed that the bank targets about 30,000 customers to be empowered for startup micro, small and medium businesses

  in 2020.

“This is one of the strategies and initiatives of the federal government for improving local manufacturing and bringing together key frontline government agencies and stakeholders to interact together with a view to removing  bottlenecks for MSMEs in the country.

He further assured that Ebonyi State stands to gain a lot from the MSME clinic from the Access Bank, especially, in the areas of providing funds, knowledge and market for doing businesses.

Ebonyi State Governor, Chief David Umahi, said that the state government had approved N2 billion for MSME owners in the state.

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