Small scale businesses engine rooms of economic growth – SMEDAN DG

The Director General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Alhaji Dikko Radda, has said that micro and small enterprises serve as engine rooms of economic growth, noting that they constitute primary sources of new jobs.

Speaking at a joint press briefing on the 4th Made-in-Aba in Abuja, he noted that small enterprises now constitute significant opportunities to employment generation, and gross domestic product (GDP) of the nation.

According to him, the agency’s joint survey of MSMES with National Bureau of Statistics in 2014 showed that over 59.7 million persons were employed, representing 84.02% of the nation’s labour force, adding that deliberate effort must be put in place to grow those businesses.
“It is surprise that MSMES pose significant contribution to employment creation, gross domestic product and export receipts.
“In Nigeria, SMEDAN/NBS survey, 2014 estimated a total of 37 million. MSMES. These contribute total employment 59.7 million persons or 84.02% of Nigeria Labour force,” he said.
Dikko explained that small enterprises in Nigeria were currently receiving boost through annual zonal intervention funds appropriated by the National Assembly.

Soliciting cooperation of the Senate in the current drive, the Director General revealed that Aba leather and garment now have a special attraction with over twenty thousand enterprises, with inherent peer learning.
The Director General added that the proposed amendment to Public Procurement Act would strengthen patronage of local goods and improve local manufacturing capacity.
“The buy Naija campaign, supported by the National Assembly with proposed amendment to the Public Procurement Act is another facet of current trade promotion effort, expected to put the power of National Appropriation behind our collective quest for improved local manufacturing capacity,” Dikko maintained.