Director General of Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Bature Masari, says Micro, Small and Medium Enterprises MSMEs contributes 46.54 percent to Nigeria’s Gross Domestic Product, GDP.
Masari made this disclosure during the post-humuos
award to Late Maria Sokenu, former Managing Director of defunct Peoples Bank,
who died alongside 116 others on board ill-fated Bellview Airline that crashed
in Lisa, Ifo, Ogun State in 2005, by the Association of Professional Women
Bankers (APWB) for her contribution to the association and the economy.
Sokenu was special adviser to the Ogun State governor
on employment generation and pioneer president of the APWB from 1983-1991.
The SMEDAN DG while delivering a lecture on the theme
of the association’s 30th anniversary: Strategic Positioning of Entrepreneurs
for Economic Development, said the importance of entrepreneurship across the
world cannot be over emphasised as research has shown that MSMEs are critical
to the growth and economic development of nations, contributing not less than
50 percent of GDP on the average, with the resultant effect of income
generation, wealth creation and poverty alleviation.
He said in
order to strategically position MSMEs for economic development in Nigeria, one
of the strategies SMEDDAN has adopted that needs to be sustained is
strengthening entrepreneurs along the value chain of the typical business
cycle.
He said from
start-ups, the body looks at the business conception/idea generation, project
identification, feasibility study, business plan, sourcing for finance,
programme execution and implementation, evaluation and control,
sales/marketing.
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