The House of Representatives has expressed its commitment to the development of Small and Medium Enterprises in the country.
This was as the House Committee on SMEs led by its Chairman, Hon. Mansur Manu Soro, met the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to ascertain the extent of funding and releases made to implementing Ministries, Departments and Agencies (MDAs).
Soro said the 10th House of Representatives under the leadership of Speaker Tajudeen Abbas, places high premium on SME development, hence its decision to create a standing committee on SME to ensure effective oversight of the SME activities and programs of line MDAs
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The meeting was in furtherance of its determination to see to the timely implementation of the SME component of the presidential palliative grants and loans.
This was according to a statement by the Personal Assistant to the House Committee Chairman, Aleeyu Darazo.
The Committee had previously met with other officials including the Minister of Industry, Trade and Investment, Mrs Doris Anite; Accountant General of the Federation; and DG/CEO of SMEDAN, Mr. Charles Odii in this regard.
The presidential palliative grants and loans which comes in three tranches of N50,000 grants to 1million nano businesses, N100,000 – N1million and N75billion to manufacturers are due for disbursement anytime soon.
Recall that President Bola Tinubu directed for the implementation of palliatives to cushion the effects of the removal of petrol subsidy across the agricultural, transportation, social safety and SME sectors of the economy in July 2023.
Subsequently, the House of Representatives resolution mandating its committee on SME to interface with officials of government responsible to ensure timely and effective implementation of the palliative.