October 18, 2021

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Osinbajo: Why we dedicated a week to promote MSMEs

The initiative to dedicate a full week to the intensive promotion of MSMEs in the country and highlight their needs is meant to further boost the potentials and achievements in sector, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo stated this on Thursday in remarks delivered on his behalf by the Minister of Industry, Trade and Investments, Otunba Niyi Adebayo, at the opening ceremony of the maiden edition of the National MSME Discourse.

Aside the priority it has given to MSMEs in various ways including through the holding of MSME Clinics across the country over the years, the Buhari Administration dedicates this week to further build the profile of MSMEs and promote greater understanding of the sector.

Earlier this week the VP visited some MSMEs in Abuja and would be headlining the Annual MSMEs Awards on Sunday, among other events lined up for the week-long commemoration.

According to the Vice President, “Given the priority it attaches to the MSME sector over the years, the Buhari Administration has supported MSMEs in various ways including through the MSME Clinics Initiative which is conducted through a partnership of relevant MDAs.

“The MSME Week is the latest initiative in this regard. Over the past few years, we have held a national MSME day in tandem with World MSME Day as declared by the United Nations. However, in order to further build the profile of MSMEs and promote understanding of the sector, we decided to dedicate the whole of this week to promoting awareness about the achievements of our MSMEs and highlighting their needs.”

Speaking on his participation in the week’s activities and other programmes scheduled to mark the occasion, Prof. Osinbajo said “Two days ago as part of activities lined up during the week, I visited DLK Signature Limited which produces footwears, bags, and clothing, and also operates like a privately run shared facility. I also visited Roving Heights, an up and coming independent bookshop that combines a physical presence with an online presence.

“I was impressed by the vision, work ethos and organizational acumen of these outfits but my purpose was to encourage them and all other businesses in the MSME space and signal that the Federal Government is committed to supporting their efforts every step of the way.

“Other activities lined up for the MSME Week include an MSME Clinic in one of the States, this MSME National Discourse, a Fashion and Art Exhibition and National MSME Awards night.”

Commending the National MSMEs Secretariat for the initiative to hold a National Discourse on MSMEs, Prof. Osinbajo noted that the theme of the discourse – Little Beginnings: Huge Impact- is apt.

He said the theme “clearly underlines the potentials of the MSME sector. It inspires hope, signals growth, and anticipates success. Moreover, it provides an important platform for stakeholders in the economy (particularly as it relates to the MSME sub-sector) to review, assess, take stock, and proffer solutions to challenges facing micro, small and medium scale businesses in the country.”