Business Support Services, MSMEs must be sustained – Osibanjo – Business

Vice-president, prof. Yemi Osibancho, called for subsistence of the Business Support Service and the financing of 15,000 micro, small and medium-sized enterprises (IHR) in the federal metropolitan area (FCT).

The Nigeria News Agency (NAN) reports that the Abuja Agency (AEA) manages MSME on the territory.

Osibanjo said this, opening on Thursday in Abuja "State Enterprise, Industry, Trade and Investment", "Hajia", " Aisha Abubakar,

He said that FCT MSME "One Stop Shop "corresponded to the government agenda aimed at boosting the business sector, adding that the intervention created 12,517 jobs from 2015 to the present.

Osibanjo said that this initiative was also aimed at further promoting synergies between SMEs and business support and regulation bodies and eliminating the bureaucratic bottlenecks faced by MEME in the country.

"This is not only a deliberate, but also a courageous step taken by the current administration in the country in an effort to improve the ease of doing business," he said.

Managing Director of AEA Mr. Muhammad Arabi said that more than 8,500 companies were aware of the problems of regulation, programs and projects of state support.

Arabi said that MSME was given the opportunity to interact directly with business regulators and support organizations.

He said that the agency committed to providing an initiative for the "Ease of doing business" initiative by the administration, which paid particular attention to the IHR subsector.

Malam Mohammed Bello, FCT minister, said that within the last three months the territory approved and opened the State Council of MSME and forced the Permanent Secretary to head the council.

Bello, represented by the Permanent Secretary of the PCT, Sir Chinaka Okha, said that the purchase of trucks for the smooth operation of the agency is now being approved.

Executive Director of Bank of Industry (BoI) Toyin Adenii said that the bank is cooperating with the federal government to provide more than two million small traders across the country in the first batch.

Adeniyi said that the project, fully managed by the government, will have to provide N10,000 grants to each trader for the development of his business.

The executive director said that the bank aimed at at least 39,000 beneficiaries from each state to receive a grant of N10,000.

According to her, the bank hopes to increase the amount to N15 000.

"This is not a BOI project, but a federal government project.

"We are only here to monitor, after this stage we will continue to ask the beneficiaries to open an account with the banks before we begin the further payment, she said.

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