MSMEs: FG pledges 100,000 jobs by May 29
By Salisu Sani-Idris
The Federal Government on Thursday revealed plans to create no fewer than 100,000 verifiable jobs by May 29.
Mr Temitola Adekunle-Johnson, Senior Special Assistant to the President on Micro, Small and Medium Enterprises (MSMEs) and Job Creation, Office of the Vice-President, announced this in Abuja.
Adekunle-Johnson spoke at the Inaugural Job Creation and MSME Quarterly Communications Forum, organised by the Job Creation & MSME Secretariat, Office of the Vice President.
The presidential aide said that the federal government was focusing on jobs creation in partnership with the Federal Ministry of Labour and Employment.
“We are saying that by the May 29, we will create at least 100,000 jobs. The target is to create 384,000 jobs in four years,” he said.
Adekunle-Johnson said the initiative would be a partnership between the Federal Government and Access Bank.
” Today’s programme is to announce our partnership with the Access Bank, how the bank is trying to support the government with regards to access to funding for MSMEs.
” Right now the interest rate for loans is between 27 and 29 per cent, but the Access bank is giving us at the rate of 15 per cent.
“The bank is committing N50 billion to support MSMEs.
” They are even now saying that if you are an MSME and you want to collect N1 to N3 million, don’t worry, the collateral that they need is simplified to enable you have access to the money.”
Earlier, the Minister of Information and National Orientation, Alhaji Mohammed Idris, said the Federal Government was committed to creating an enabling environment for MSMEs in the country.
Represented by the Director-General, Voice of Nigeria, Malam Jibrin Ndace, Idris said that President Bola Tinubu’s Renewed Hope Agenda recognised job creation and MSMES development as strong pillars for sustainable economic development.
“MSMEs are the essence of our economy, the main bastion for innovation, creating employment opportunities, and stimulating inclusive growth.
” (We) remain committed to improving the ease of doing business, access to financing, provision of critical infrastructure, capacity building and nurturing entrepreneurial skills, and creating market access, among other initiatives.
“The MSMEs in Nigeria have remained steadfast and resilient, demonstrating the ability to weather the storm in the face of enormous challenges, including the COVID-19 pandemic and its economic ramifications.”
Similarly, the Deputy Chief of Staff to the President, Office of the Vice President, Sen. Ibrahim Hadejia, said the importance of MSMEs in an economy could not be overemphasised.
Hadejia said apart from their contribution to the economy, MSMEs also provide resilience and agility to any economy.
“So if you have a robust MSMEs system sector, you will find that your economy is also better adapted to some of the global shocks that we are experiencing at the moment.
“MSMEs are small, they are agile, they are adaptable.
“So I think as a government, we cannot mention enough the focus on MSMEs and this is why we believe this kind of partnership with Access Bank and others is very important,” he said.
Also, Mr Bosun Tijani, the Minister of Communications, Innovation and Digital Economy, reiterated that the Federal Government was prioritising job creation and support for small businesses.
For her part, Ms Chioma Ogwo, Head, Non-Financial Services, Emerging Businesses, Access Bank Plc, said the bank would monitor performance of the benefitting MSMEs for a period of one year and review it thereafter. (NAN (www.nannews.ng)
Edited by Ismail Abdulaziz
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