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By Omodele Adigun and Merit Ibe
Governor Babajide Sanwo-Olu of Lagos State has urged stakeholders to support the over 37million Micro, Small and Medium Enterprises (MSMEs) across the country to enable them transform the economy.
Sanwo-Olu stated this Monday in Lagos while declaring open the 6th MSMEs Trade Fair organized by the Lagos State Nigerian Association of Small Scale Industrialists (NASSI) in collaboration with the state government,
According to Sanwo-Olu, who was represented by Dr. (Mrs) Lola Akande, the state Commissioner for Commerce, Industry and Cooperatives, MSMEs can serve as the bedrock of economic transformation from the present doldrums to an industrialised one if provided with the much-needed support.
The Governor commended Lagos NASSI for organising the fair, acknowledging that it has entrenched the fair as a veritable platform for showcasing and increasing the visibility of marketing mileage of innovative products and services of members.
He noted that the theme: “The Indispensable Role of MSMEs in the Quest for Nigeria’s Industrialisation” was apt, given the importance and role that MSMEs could play as the springboard for industrialisation of any nation.
SanwoOlu stated that such events served as a stimulus to further increase the productivity of the MSME sector, commending the leadership of NASSI for sustaining the programme over the past five years.
He challenged other Business Membership Organisations (BMOs) to start a program of “this nature where small businesses are given the centre stage to showcase their products to the whole world, hence, solving the challenge of access to market.”
His words: “We can leverage on the MSME numbers as provided by the 2013 joint survey conducted by SMEDAN and the National Bureau of Statistics to the effect that there are over 37 million MSMEs in Nigeria, by providing the much needed support. I am convinced that our MSMEs too can serve as the bedrock of transformation of our nation’s economy from its present doldrums to an industrialised and vibrant one.
“It is an undeniable fact that no nation can attain economic self-reliance if its MSMEs sector is not giving priority attention, to this end, I will advise all the stakeholders in this sector (BMOs) to set in motion the necessary machineries to make the non-oil sector of the state to be more attractive so as to maximize the benefit accruable from the sector.
“Therefore, our ability to leverage on the MSMEs numbers as provided by the 2013 joint survey conducted by SMEDAN and the National Bureau of Statistics to the effect that there are over 37 million MSMEs in Nigeria, by providing the much-needed support, I am convinced beyond any reasonable doubt that our MSMEs too can serve as the bedrock of transformation of our nation’s economy from its present doldrums to an industrialised and vibrant one.
It is an undeniable fact that no nation can attain economic self-reliance if its MSMEs sector is not given priority attention, to this end, I will advise all the stakeholders in this sector (BMOs) to set in motion the necessary machineries to make the non-oil sector of the state to be more attractive so as to maximise the benefit accruable from the sector.”
Mrs Akande, however, assured the association that the administration of Governor Babajide Olusola Sanwo-Olu remains committed to continually enunciate and implement intervention programmes, some of which are “accessibility of fund at a single digit from the Lagos State Employment Trust Fund (LSETF) hence, ameliorating the problem of access to finance.
“The institutionalisation of the Lagos State MSME Exclusive Trade Fair and the participation at the Lagos Chamber of Commerce and Industry (LCCI) Lagos International Trade Fair, which are annually staged for the MSMEs operators to display their goods and services at no cost hence, solving the challenges of access to market. Also, the establishment of a Light Industrial Park at Imota to provide work spaces for MSMEs at subsidized rate, to mention but a few.”
“Towards this end, the state government ability to create enabling business environment has enhanced the productivity of the small scale operators and making their products more globally competitive, so as to achieve the desired goal of a seamless transformation of Small businesses in Lagos State from micro to large scale operators through required incentives for the growth of the sector.
In addition, you may please note as part of the state government’s intervention program, the Adeyemi Bero Auditorium is usually given to various BMOs at no cost, of which NASSI has benefited for 5 years.
It is, therefore, pertinent to mention that in line with the THEMES Agenda of Mr. Governor Sanwo-Olu of making Lagos State a 21st century economy, MSMEs have continued to receive support from the state government in various ways such as the Land Use Charges waiver of 2020 and penalties for non-compliance of year 2017, 2018 and 2019 were also waived. Coupled with the harmonised tax regime of this administration to resolve the challenges of multiple taxation in to reduce the cost of production of MSMEs in the state.
