UK Government Launches National Council to Boost Small Businesses
In a significant move aimed at facilitating small businesses across the nation, the UK government inaugurated the National Council on Micro, Small, and Medium Enterprises (MSMEs) on Friday. \
The announcement was made by Charles Odii, the Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), during a press briefing at the Presidential Villa in Abuja.
Vice President Kashim Shettima officially inaugurated the council, emphasizing its role in streamlining the processes for small businesses nationwide.
Odii outlined the council’s responsibilities, noting its focus on enhancing the ease of doing business for small enterprises.
He highlighted that at the state level, all state governors would lead and chair the council, while SMEDAN would act as the secretariat, ensuring the council’s effective operation.
Odii revealed that Vice President Shettima has instructed regular progress reports, directing SMEDAN and the Senior Special Assistant to the President on MSMEs and Job Creation to provide updates every two weeks.
The VP expressed keen interest in tracking the council’s efforts in job creation, easing small business operations, and poverty alleviation across the country.
SMEDAN, in line with its objectives, will reach out to all state governors, briefing them on the council’s operations following the inauguration.
Odii acknowledged the challenges faced by small businesses, including insecurity, limited access to finance, and global competitiveness.
To address the financial aspect, he announced initiatives such as a N5 billion nine percent no-collateral loan for small businesses, in collaboration with Sterling Bank, and a N30 billion fund from Access Bank for youth and women entrepreneurs.
Temitola Adekunle-Johnson, Senior Special Assistant to the President on MSMEs and Job Creation, emphasized that the council’s establishment showcased the commitment of President Bola Tinubu’s administration to foster a conducive environment for small businesses.
She highlighted the administration’s dedication to creating an ecosystem where small businesses can thrive seamlessly.
Dele Oye, National President of the Nigeria Association of Chambers of Commerce, praised Vice President Shettima for his commitment to MSME development.
Oye expressed satisfaction with the Vice President’s decision to receive reports every two weeks, providing a platform for immediate access to government policies and interventions.
Source: Daily Nigerian
