Why Nigeria must build on MSME momentum, by Osinbajo

Vice President Yemi Osinbajo yesterday stressed the need for Nigeria to maintain the momentum built in the Micro, Small and Medium Enterprises (MSMEs) sector by the administration of President Muhammadu Buhari in the last seven years.

Osinbajo stated this when he received members of the Made- in-Nigeria Project led by Mr Adedeji Alebiosu, who visited him at the Presidential Villa, Abuja.

According to a statement by Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, this is necessary because of the important position of MSMEs in the economy.

Osinbajo said: “We must be as determined as possible in maintaining the momentum built over the years in the MSME space.

“How we sustain the MSME Clinics, how it is institutionalised in a way that the incoming Vice Presidents or Presidents are obliged to pay close attention to whatever is happening in the sector, is very important.”

Continuing, the Vice President said: “There is a bigger challenge in manufacturing of items, creating jobs and wealth. So, we have got to think in terms of scale.

“There is a lot of real and serious work that needs to be done. What should our approach be in terms of the value chain? We are a huge economy and a huge market.”

“The problem people have always faced is how to engage our massive population in a meaningful way because anything you do seems like a drop in an ocean due to the enormity of the problem,” the VP added.

Earlier in his remarks, Mr Alebiosu praised Prof. Osinbajo’s personal commitment and support to the growth of small businesses in the country.

He acknowledged the contributions of the Vice President through key interventions supervised under his office, noting that they positively impacted small businesses in the space.

“Initiatives supervised by your office such as the MSME Clinics, the Survival Fund, and the MSME Awards, among others, have positively impacted many small businesses over the years.

“You have done so much in the MSME space in the country, we have never had it so good, that is why we are here today, to show gratitude for the support the Federal Government has given to MSMEs in Nigeria,” he said.

Mr Alebiosu said the visit to the VP underscored the importance of collaboration and partnership in growing the MSME space in the country.

The Vice President was presented with an award of excellence by the group.

Members of the Made in Nigeria Project delegation include Director of Operations, Tosin Ashiru; Director of Special Projects, Samuel Adewale; Director of SME Engagement, Tola Ajayi and Director pf Partnerships, Destiny Enakhimion.

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