FG to link states, regulatory agencies and private sector to reduce cost of doing business – Osinbajo

As part of efforts at deepening the MSME Clinics, the Federal Government is set to establish shared facilities for MSMEs in the country based on a partnership with states, government agencies such as Bank of Industry (BOI), Federal Inland Revenue Service (FIRS), NAFDAC, Standard Organisation of Nigeria (SON), and interested private sector partners, according to Vice President Yemi Osinbajo, SAN.

Osinbajo revealed this yesterday during the launch of the 20th edition of the National MSMEs Clinic in Kaduna State. According to him, “these shared facilities will be  fully-equipped  with machinery and equipment required for various trades and businesses,” adding that “Small businesses can then do their businesses at those locations at a reasonable cost.”

Explaining further, the Vice President said, “what this means is that MSMEs are spared the financial burden of having to buy their own equipment or having to rent same in order to be able to do business.

“Where possible these shared facilities would have been pre-certified by relevant agencies, removing the need for MSMEs to pursue these certifications by themselves. Kaduna State is one of the States selected for the establishment of the first pilot shared facilities.”

In order to alleviate some of the difficulties encountered during business registration, Osinbajo said: “the Federal Government through the Corporate Affairs Commission has approved a special window of 90 days from 1st October 2018 to Dec 31st 2018 to register businesses at N5000 only.”

“Now this is a deduction as you know from the N10,000 that it used to cost for registering businesses. But this window is available for 90 days from October to December 31st 2018. This will afford more MSMEs an opportunity to formalize their businesses, he clarified”

While encouraging Kaduna State Government to set a one-stop-shop MSMEs right, the VP noted that “states like Abia, Osun, Plateau, Kwara! Cross River and the FCT, have all gone up to set up “one-stop-shops” after the clinics, bringing all relevant agencies that regulate businesses in one place to enable small businesses to access their services on an on-going basis.”

Reiterating the commitment of the Federal Government to continuous investment in the Nigerian people, especially by way of Social Investment Programme, Osinbajo informed that in Kaduna State the NPower programme has engaged 18,065 beneficiaries as at August 2018.

He also said the School Feeding programme where a free meal a day is provided to pupils, the Federal Government in collaboration with the state government has given over a million school children food every day in 3930 schools here in Kaduna state.

“That programme also employs 12, 376 cooks in this same programme.  We have given loans under the GEEP programme to over 19,455 beneficiaries so far.  In our  National Cash Transfer Programme, we pay N5000 a month to 10,482 of the poorest households in Kaduna State”, he disclosed.

In his interaction during the MSME Clinic, where he inspected various business stands with the Kaduna State Governor, Mallam Nasir El-Rufai, Osinbajo encouraged business owners to take advantage of the Federal Government’s Social Investment Programmes, as well as their interface with the Chief Executives of government regulatory agencies, to expand and strengthen their businesses.

As part of his activities in Kaduna State, Osinbajo also launched the Trader Moni Scheme, where N10,000 was given to petty traders at the Kaduna Central Market and commissioned the Kaduna State Information and Communication Technology Centre, also known as KAD ICT HUB.

In his remarks, the Kaduna State Governor, commended the Federal Government and Vice President  Osinbajo, for empowering entrepreneurs in Kaduna State, stressing that it was a very important gesture to the state.

Accompanying the Vice President were the Minister Of State, Industry, Trade and Investment and Supervising Minister For Women Affairs, Hajiya Aisha Abubakar,  Bank of Industry Managing Director, Mr. Kayode Pitan, Special Adviser to the President on Social Investment, Hajiya Maryam Uwais, the Executive Secretary, Nigeria Export Promotion Council, Segun Awolowo and Heads of Federal Government Agencies And Parastatals.