FG to address challenges of MSMEs with four key reforms

The Federal Government has said it has come up with four key reforms to address the challenges of Micro Small and Medium Enterprises (MSMEs) in the country.

The Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar, disclosed this during the inauguration of the National Power Programme for MSMEs and Formal Unveiling of the Tellco Europe Nigeria Ltd. in Lagos on Tuesday.

According to the minister, this includes improved regulatory environment, easy access to finance, enable business support services and improved access to the market for MSMEs.

“The MSMEs clinic nationwide was introduced by the government to improve the ease of doing business by bridging the information gap and encouraging them to be more efficient and capable of competitiveness.

“The clinic brings together all the relevant Ministries Department and Agencies (MDAs) to take enquiries and solve real-time challenges facing MSMEs operators.

“It raises awareness and promotes goods and services produced by MSMEs operating in Nigeria,” she said.

She said government believed that supporting small businesses by promoting green MSMEs was essential for increasing productivity and boosting economic development.

“This is why the government is working with stakeholders across all sectors to ensure that MSMEs have the support they need to grow now and in the future.

“This can be witnessed in the milestone being achieved by the Presidential Council on the Ease of Doing Business,” she said.