Operators of Micro, Small and Medium Enterprises (MSME) in Ogun State have been enjoined to always avoid committing fund meant to grow their business into social activities and be ready to engage in more managerial skill acquisition programmes to grow their enterprise.
The Speaker of the State House of Assembly, Rt Hon. Olakunle Oluomo, gave the advice while declaring open a day capacity building for entrepreneurs in the State organised by the Ministry of Commerce and Industry in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) held at Oke-Mosan, Abeokuta.
Oluomo admonished the entrepreneurs to always avail themselves with government’s initiatives at financing small scale enterprises, assuring that the 9th Assembly was ready to support them to grow their business.
The Speaker, who noted that small scale businesses remained the bedrock of any nation’s economy, pointed out that Prince Dapo Abiodun led administration in the State was committed to creating enabling environment for the small scale business enterprises to operate.
According to him, anchor borrowers programmes and ‘Owo Okowo Dapo’ as well as the newly commissioned Ogun Technology Hub, were parts of initiatives put in place by the current administration in the State to support MSMEs, while challenging SMEDAN to also follow up the capacity building with necessary financing for the MSMEs to grow.
Earlier in their speeches, the Consultant to the Governor on Commerce and Industry, Ms. Sola Arobieke and the Permanent Secretary in the Ministry, Mrs. Lydia Fajounbo, noted that MSME was a remedy for global economic emancipation, hence, Nigeria had joined the likes of Malaysia, Indonesia and Ghana amongst others in taking advantage of MSME to grow their economies.
The disclosed that findings at the National Bureau of Statistics had shown that MSME subsector accounted for 60% of National Gross Domestic Product (GDP) just as the subsector employed about 70% of the total workforce, thereby contributing largely to the per capital income of the citizens through job and wealth creation.
They assured stated that the training programme was part of efforts of the Governor Dapo Abiodun led administration at revamping the MSME to further develop the State’s economy.