JOB CREATION: FG Inaugurates National Council On MSMEs .
December 1st 2023, the Federal Government inaugurated the National Council on Micro, Small and Medium Enterprises (MSMEs) to facilitate small businesses across Nigeria. The council, headed by state governors, was inaugurated by Vice President Kashim Shettima Mustapha GCON . The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) will act as the secretariat for the council, ensuring its smooth operation and providing support for small businesses.
The Vice President has directed the Director-General of SMEDAN and the Senior Special Assistant to the President on MSMEs and Job Creation to provide bi-weekly progress reports on job creation and the facilitation of small businesses.
In response to the loss of three million small businesses due to factors such as insecurity and lack of access to finance, SMEDAN has announced a N5 billion no collateral loan for small businesses in partnership with Sterling Bank, and a N30 billion fund for youth and women from Access Bank.
The inauguration of the council signifies President Bola Tinubu’s commitment to creating an environment conducive for small businesses. The National President of the Nigerian Association of Chambers of Commerce (NACCIMA), Dele Kelvin Oye, Esq., who attended the event, commended the Vice-President of the federation for his dedication to the development of MSMEs.
