From Charity Nwakaudu, Abuja
The Federal Government has said it would prioritize the Micro Small and Medium Enterprise businesses in the country, adding that they the engine room of the nation’s economy.
The Minister of State, Budget and National planning, Prince Clem Agba made this known at the 4th strategic meeting of the MSMEs held in Abuja, yesterday.
The minister who spoke through his media aide, Sufuyan Ojeifo stressed that the NDP 2022-2025 can not be achieved by the government without collaboration with the MSMEs.
Agba added that the government is considering signing a Memorandum of Understanding,(MoU) with the MSMEs to aid standardization of business activities in the country.
“Government will prioritize and implement critical and strategic infrastructure projects that will directly raise production and productivity in the MSMEs, agriculture, manufacturing and service sectors, in line with rapid growth, job creation, poverty eradication and revenue and foreign exchange concentric economic diversification objectives.
” The focus would be on electricity, road/rail and other transport as well as broadband internet connectivity. Macroeconomic stability and security of lives and property are also part of the priority areas of the Government.
“Government also believes that the NDP 2021-2025 cannot be achieved by the government alone. The private sector and MSMEs have a huge role to play in the implementation of NDP 2021-2025 and the Nigeria Agenda 2050. This is the more reason why the Plan Implementation will be driven by the Private Sector.
” 86 percent of the planned investment will come from the Private Sector. That is why the Ministry is considering signing a Memorandum of Understanding with the MSME Forum, to work together, especially in facilitating dialogue and developing joint programmes that will promote standardization, product complexity and competitiveness, he said.
The Board of Trustees Chairman, Dr. Albert Akinyemi, who was represented by one of the BoT Rose Gyar said Nigeria’s economy problem is within Nigeria and can only be resolved within,” until we acknowledge the importance of MSMEs ,we can not be able to eliminate poverty.”