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Tag: NEDEP

  • NEDEP’s N1b credit line for Lagos MSMEs

    NEDEP’s N1b credit line for Lagos MSMEs

    The Federal Government has unlocked a N1billion special credit line, through the National Enterprise Development Programme (NEDEP), for Micro, Small and Medium Enterprises (MSMEs) and Cooperatives in Lagos State.

    The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said the direct micro-enterprise funding further demonstrated the commitment of the current administration to developing enterprises at the grass roots in order to create jobs, enhance growth and ultimately reduce poverty.

    He said NEDEP provided the necessary platform for the sustainable ongoing funding of micro enterprises, adding that the disbursement of the N1billion loan to MSMEs in Lagos was part of ongoing MSME funding across the 36 states of the federation and would be in phases.

    Aganga spoke in Lagos on yesterday while presenting cheques to the beneficiaries of the first N100million special credit line.

    NEDEP is an initiative spearheaded by the Federal Ministry of Industry, Trade and Investment and its three parastatals – the Bank of Industry (BoI), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Industrial Training Fund (ITF).

  • National Enterprise Development Programme: one year after

    Bukola Aroloye in this report takes stock of the activities of the National Enterprise Development Programme (NEDEP) in the last one year

    When the federal government launched the National Enterprise Development Programme (NEDEP) in February 2014, it was conceptualised and thought out to provide business support services and access to finance for MSMEs in the country and to add one million jobs yearly.

    Laudable as this vision was, the programme is turning out to be another white elephant funding initiative, existing at best on the pages of papers, analysts have said.

    President Goodluck Jonathan at the launch said: “This programme will be a change agent, not only training millions of young and able Nigerians and harnessing the unbridled entrepreneurial energy in our society but also providing them with affordable and accessible finance to act as a catalyst for their ambitions and enable them to achieve their dreams.”

    Nigerians are yet to see the real impact of the training for millions of the people under the programme even though the Ministry of Industry, Trade and Investment, which is managing the fund, has the Industrial Training Fund (ITF), Small and Medium Enterprises Development Agency (SMEDAN) and the Bank of Industry (BOI) as agencies under it.

    Mr. Celestine Okeke, a political economist and the Head, Business Development at Roschistan Limited, who has been following the development in the country with regards to MSME funding, told our reporter that the failure of government interventions to propel real growth in MSMEs’ activities can be traced to the failure of the series of intervention funds by the federal government.

    He said: “Nigerian entrepreneurs are yet to have an articulated training and or access to finance path detailing how they can benefit from the programme, neither has the Bank of Industry managing the fund publicised a document detailing the workings of the programme different from other initiatives in its books.

    “SMEDAN on its part has failed to mobilise the several thousands of Nigerians it has expended several hundreds of millions to train in the past years to access the funding initiative. Instead, it is embarking on another round of training for Nigerians and not necessarily entrepreneurs as the process of selecting those to be trained leaves much to be desired. One would have expected SMEDAN to embark on a re-training exercise for the several Nigerians it has trained in the past years with a view to granting them access to the programme.”

    Against the backdrop of the promises made by the president on the need to train our youth to create employment rather than go out to be employed, the office of the senior special adviser on job creation was seen to be embarking on training/workshop on how to write resume for youths.

    Celestine, while baring his mind on this development, said: “If the adviser on job creation spends her office’s funds to train youths on how to write resumes, who then is driving NEDEP?”

    He further disclosed that a visit to the Bank of Industry will reveal, quite sadly, the level of commitment the ministry and its agencies have to the programme. “You will be confronted with the reality that there exists no separate application form for NEDEP, there exists a low level of information/knowledge of the initiative by the staff of the bank. The application form given to entrepreneurs who visit the bank for enquires is the same form given for commercial loans, forms asking for collateral when NEDEP demands no collateral for certain amounts,” he added.

    Stakeholders have continued to argue that while they support the efforts of the federal government to create jobs via the provision of improved access to finance, they want the government to ensure that the several funding initiatives being launched by it do not end up like those that failed in the recent past.

    The recent addition of GEM (growth and employment project) to the funding initiatives available to Nigerian entrepreneurs is both a welcome and confounding development. The questions on the lips of keen observers are, what level of achievement have we made with NEDEP and other funding initiatives to warrant the launch of another initiative by the same government? What are the inadequacies observed with NEDEP that is necessitating the launch of GEM? As against launching GEM, why not strengthen NEDEP? These are pertinent questions entrepreneurs are asking or are these initiative cases of the more you look the less you see.

    Mr. Monday Ewan, the Director Planning Coordination and Extension of SMEDAN, in his reaction, said, “if you refer to the enabling act establishing SMEDAN, it is very clear that it remains the overall coordinating agency for MSMEs but unfortunately, a lot of government MDAs are venturing into MSMEs and when you look at their acts you will realise they have no business doing so without collaborating with us.”

    Celestine urged the  Minister of Industry, Trade and Investment to, as a matter of urgency, make NEDEP more accessible to Nigerian entrepreneurs by making SMEDAN, ITF and BOI more responsive and structured/ staffed to meet the objectives of the programme.

  • ‘Budget delay inimical to private sector’s interest’

    ‘Budget delay inimical to private sector’s interest’

    For the Organised Private Sector (OPS), these are not the best of times. Faced with a stifling environment, the sector is operating below its optimum. In this interview with OKWY IROEGBU-CHIKEZIE, President, Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) Alhaji Mohammed Badaru Abubakar speaks on the challenges facing the sector and calls on the government to create a conducive environment for businesses to thrive.

    How can members of NACCIMA benefit from the National Enterprise Development Programme (NEDEP) just launched by the Federal Government?

    Our members who are business operators would benefit from the programme, designed to create at least 3.5 million jobs across the country through the development of the Micro, Small and Medium Enterprise (MSME) sector, which is the engine of economic growth. We expect that NEDEP, spearheaded by the Federal Ministry of Industry, Trade and Investment (MITI), in collaboration with major drivers, such as Bank of Industry (BoI), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Industrial Training Fund (ITF), would harness the vast opportunities in the MSME sector to drive inclusive economic growth through skills acquisition, entrepreneurship training, business financing, employment generation as well as wealth creation.

    How favourable is the interest rate to members of your association?

    The Central Bank of Nigeria (CBN) and its monetary policy committee have done a good job of maintaining stability in the economy. However, we are still worried that the Monetary Policy Rate (MPR), which, at 12 per cent, is high and keeps the interest rate high and expensive to borrowers. No bank lends to customers at single digit, which is below its cost of 12 per cent. With the current interest rate hovering between 17 per cent and 28 per cent, for a growing economy like ours, it will be difficult to achieve the desired economic growth and motivate indigenous entrepreneurs to establish businesses since they will not be competitive with their foreign counterparts who obtain funds from their countries at single digits and invest in the Nigerian economy.

    How best can the mystery of the alleged missing $20billion Nigeria National Petroleum Corporation (NNPC) fund be unravelled?

    We believe the best way to unravel the $20billion NNPC missing fund is to adopt the two proposed options of forensic audit and the use of international experts to see if the two options will give the same result.

    Do you think the suspension of the CBN Governor Lamido Sanusi would cause a change in the monetary and fiscal policy? What will be the effect of his suspension on the real sector?

    The monetary and fiscal policy is institutional and not tied to an individual. though one can safely say that Sanusi did well, the government should ensure that the monetary and fiscal policy guidelines are more stable and business-friendly and in a manner that would positively impact the real sector.

    How can Nigeria diversify its economy? Any hope for the solid mineral sector?

    The need to promote non-oil exports in an economy such as ours cannot cannot be taken lightly given the global trend to boost trading relations among nations. Given the focus of the government to diversify the economy from mono economy (i.e. oil) by promoting non-oil exports, with numerous incentives put in place to attract investors in the non-oil sector of the economy (agric, manufacturing, solid minerals, etc), the impact so far recorded is still below expectation. With the recently launched NEDEP and the Nigerian Industrial Revolution Plan (NIRP), if the government, in collaboration with members of the private sector implement both programmes, we believe that in a very short period of time, Nigeria will move from a mono-economy to a diversified economy via other sectors such as solid minerals, which is yet to be fully exploited. We can see what is going on with cement, orange juice, and at present, mining activities in Zamfara State by the Chinese, as well as the announcement by the government that four foreign companies would soon begin the mining of gold and iron ore in Kebbi, Osun and Kogi states while more than 20 foreign firms from Australia, Canada, United Kingdom, Italy, China, Republic of Niger, India, South Africa and Ukraine have obtained exploration licenses to carry out solid minerals exploration across the country. There is need for government to demonstrate the political will and transparency to ensure the realisation of the objectives of the two programmes.

    What are the challenges facing NACCIMA members?

    Despite being proactive in the pursuit of our advocacy drive, members of NACCIMA are faced with challenges such as poor infrastructural facilities (especially roads, power and energy supply), resulting in high operational cost due to huge investments in private electricity generation and transportation. We are aware that government is working very hard to solve the power problem. Again, the worsening state of insecurity in Nigeria, especially the sectarian violence in the North and kidnapping in the Southsouth and Southeastern, resulting in serious threat to lives and property, as well as resurgence of armed banditry and robberies, have hampered the operations of our members in these zones. Other challenges encountered by our members are late release of budgets, a highly politicised environment in which business and economic activities are carried out, resulting in some conflicting polices/goals that affect optimal efficiency in service delivery and advocacy. The timing of our budgets such as crafting, submission to the legislators for discussion and subsequent signing into law by Mr. President, and presentation to the nation require serious attention. A neat budget should reach the President by November while every ministry, department, and agency should receive their release in December to enable them start implementation in the coming year.

    How can the government meet the expectations of your members?

    Government can meet our expectations through the provision of adequate infrastructure, especially in power supply and transportation. There is, therefore, the need to accelerate the completion of the on-going power sector reforms to improve the generating power capacity of below 4000 Megawatts (MW ) to at least 10,000 MW by the end of the year. There is need to put in place an effective transport system management by providing adequate and reliable infrastructure for road, rail, air and waterways transportation in order to achieve supply chain efficiencies. All these we canvass should be done through effective PPP (Public-Private Partnership) synergy for optimal result to be achieved. There is  also the need to ensure efficient and effective security system that promotes business and investment climate, as well as guarantees lives and property of the citizens. The PPP model could be adopted by collaborating with NACCIMA and private security agencies to achieve a lasting solution to the war against crime, terrorism and other vices currently besetting our nation. Government should give serious consideration to dealing with institutions such as NACCIMA, Manufactures Association of Nigeria ( MAN), Nigeria Employers  Consultative Association (NECA), and  the  Nigerian Economic Summit Group (NESG) rather than individuals on all government committees critical to the growth and development of the industrial/business sector in the country. This can be achieved by making membership of Chambers of Commerce compulsory to all business operators, which would also serve a dual purpose of reducing or even eliminating fraudsters in the economy.

    How much employment has NACCIMA generated in recent times?

    Let me state clearly that membership of NACCIMA is made up of operators in the Small, Medium and Large Enterprises meant to create wealth, which in turn create jobs.  So, we only motivate them to create the jobs.

    The co-ordinating Minister of the Economy reportedly said the government was working hard to strengthen the income drive of the Nigeria Customs Service (NCS) and Federal Inland Revenue Service (FIRS). What is the implication of this to local industries, especially given the competition from imported goods?

    While we are not against strengthening NCS and FIRS, we, however, wish to state that Customs should not be seen as a revenue-generating agency of government, rather a trade facilitating agency. If this is done, it will enhance the competitiveness of local industries from imported goods. For FIRS, we support the strengthening by government as long as the enabling environment and additional incentives are provided for businesses to thrive and be better positioned to pay their taxes as and when due.

    How can export trade be encouraged for local manufacturers?

    The government should continue to identify and promote those products, which we believe Nigeria has competitive and comparative advantage of producing and exporting. Create additional incentives and with all the incentives made to work more transparently.

    What is the success level of the government’s port reforms?

    We are aware that considerable efforts have been made by the government on port reforms. However, the success level recorded is still low compared with the expected result, as the 24-hour target for cargo clearance process is not yet achieved. But we believe the government and her agencies could still do better.

    Has the government delivered on its backward integration programme in sugar, cement and cassava, among others?

    We can say with all sense of responsibility that some level of success has been achieved especially for cement. With regard to sugar, progress is being made and it will take some time, but we believe it will be another success story since N3 billion has been invested into the sector. On cassava, progress is still slow with rudimentary techniques still being adopted by most peasant farmers.

    What is the Chamber’s position on the fiscal policies and plans for the real sector?

    Our position is that they are good policies, but government should continue to have the political will to implement them transparently.

    The mortality rate of small businesses is rising by the day. How can this be curbed?

    Various factors account for the rising mortality rate of SMEs in the country, such as poor an enabling environment (lack of infrastructure, incentives, funding provided by government for businesses, financial mismanagement, lack of basic business capacity in terms of knowledge, skills & attitude). Others are non-recruitment of qualified personnel resulting in poor record keeping, especially accounting books, low capacity to invest in research and development (R&D), ICT (information and communications technology) and e-commerce, including lack of standardisation of products and limited access to markets. We believe the mortality rate of SMEs will reduce drastically if the NEDEP and the NIRP are implemented effectively.

    How has insecurity affected businesses in the northern part of the country?

    As a matter of fact, it is clear that the Agricultural Transformation Agenda of the Federal Government cannot be sustained or realised in a tensed atmosphere occasioned by insecurity in the North. No doubt, the insecurity in the North has had serious negative consequence on businesses operating in the region, as most of them have either shut operations or are relocating from the high-risk areas in the North. Business can only thrive in a conducive and peaceful environment, which would guarantee return on investment.

     

  • NEDEP: first batch of cooperatives set to get funding

    The Federal Government has said the first batch of cooperative bodies set up under the National Enterprise Development Programme (NEDEP) will get approved funding before the end of this month.

    The approval for award of funds was obtained after the cooperatives’ business plans successfully passed the requisite assessment and evaluation of Small and Medium Enterprises Development Agency of Nigerian (SMEDAN) and the Bank of Industry (BoI).

    The scheme, which was kicked off by President Goodluck Jonathan two weeks ago, is the flagship programme of the Ministry of Industry, Trade and Investment, which is domiciled in SMEDAN, BoI and Industrial training Fund (ITF) for implementation.

    Speaking in Lagos, the Director-General of SMEDAN, Bature Umar Masari said NEDEP entails the implementation of the One Local Government One Product (OLOP) programme which is based on a borrowed idea from Japan which has seen the country develop economically.

  • NIRP, NEDEP’ll unite public sector capacity, private sector expertise

    NIRP, NEDEP’ll unite public sector capacity, private sector expertise

    President Goodluck Jonathan’s unveiling of the nation’s industrial revolution plan and the National Enterprise Development Programme, are seen as the elixir needed to launch Nigeria on the path of sustainable development, reports, SIMEON EBULU,  

    Last week’s launch of Nigeria’s Industrial Revolution Plan (NIRP) and the National Enterprise Development Programme (NEDEP), underscored the Federal Government’s determination to actualise and expand, not only the nation’s industrial base, but also to provide employment for the citizenry and increase the consumptive capacity of Nigerians, especially of made-in-Nigeria products.

    The event which took place at the Banquet Hall, State House Abuja, was not just a launch, it was also meant to showcase the success story of the collaborative effort between the Bank of Industry (BoI) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) . It was the unveiling of a marriage sort-of, designed to match enterprise with funding and to churn-out visible products and services that can drive the economy and put the ordinary Nigerian back to work.

    NIRP and NEDEP, the Minister of Industry, Trade and Investment, Olusegun Aganga, said, is the door for the Small and Medium Enterprises sector, which he admitted is credited for providing about 75 per cent of the nation’s workforce.

    He said the average Nigerian is creative, intelligent, business savvy and most of all, enterprising, “that is why it is not surprising that the SME has about 17million companies, employing 32million people in this country which represents about 75 per cent of our workforce and contributes about 47 per cent of our Gross Domestic Product (GDP),” stressing that is the reason this sector cannot be ignored.”

    He said the SME sector, as important as it is, still faces challenges from a number of factors.

    He said NEDEP has been strategically designed to address the observed challenges in the SMEs’ segment by bringing together public sector capacity and private sector expertise to deliver the needed enterprise data bank.

    Jonathan who arrived the venue at about 9.45am to flag-off the event, took about 40minutes to move round the mini-fair arena to see first-hand, feel and touch the various products that were on display. They range from fabrics to plastic products, leather materials, machinery, cosmetics, arts and crafts and a wide-range of other items, including vehicles, produced by Innoson Motors, Nnewi in Anambra State.

    As the President, accompanied by the Vice President, Namadi Sambo, the Minister of Industry, Trade and Investment, Aganga, the Managing Director of the Bank of Industry, Ms. Evelyn Oputu, Ondo State Governor, Dr. Olusegun Mimiko, Minister of Finance and Coordinating of the Economy, Dr. Ngozi Okonjo-Iweala and Executive Director, BoI, Waheed Olagunju, was conducted from one stand to the other, he engaged the attendants and the manufacturers, touching and admiring the products and asking questions.

    His mien, beamed-live to the waiting audience in the banquet hall, showed that he was satisfied with what he saw, as he relished on entry into the banquet hall to the waiting arms of several dignitaries and senior government officials, amongst whom were the Secretary to the Government of the Federation, Chief Anyim Pius Anyim, President of the Manufacturers Association of Nigeria (MAN), Chief Kola Jamodu, President of Dangote Group, Alhaji Aliko Dangote, Chairman of Forte Oil, Femi Otedola, Founder and former Chief Executive Officer of Zenith Bank Plc, Jim Oviah, Chairman, Peoples Democratic Party, Adamu Mua’zu, the Governor of Anambra State, Peter Obi, his counterpart from Gombe State, Ibrahim Hassan Dankwambo and the Deputy Governor of Ogun State, Prince Segun Adesegun, who represented his Governor, Senator Ibikunle Amosun, amongst several others.

    Aganga, who took the first shot at the day’s event, left no one in doubt as to the necessity, as well as the urgency for Nigeria to industrialise. He said for years, the nation has frittered away many opportunities aimed at industrialisation, by merely focusing on export of raw materials. A continuation along that path, he warned, will lead to more poverty. He said Nigeria must diversify its economy, produce what it consumes, stressing that no nation survives on the basis of exporting its raw materials.

    “History shows that no country has ever become rich by exporting raw materials without also having an industrial sector, and in modern terms an advanced service sector. The more a country specialises in the production of raw materials only, the poorer it becomes,” he said, adding that industry implies National wealth. Aganga explained that the NIRP and NEDEP are both holistic and integrated, meaning that they are joined at the waist with other Ministries, Departments and Agencies (MDAs), adding that the NIRP and NEDEP adopt inclusive structures which bring in other government agencies and the private sector to ensure adequate policy synergy, urging operators of the Micro, Small and Medium Enterprises to form cooperatives for easy access to funding from BoI.

    Several messages of solidarity came in support of the initiative. Nigeria’s acknowledged biggest industrialist, Dangote, assured that the private sector will play its part in support of the government’s initiative. Obi, Mimiko, Dankwambo, Jamodu and Prince Adesegun, aligned with the federal government, saying that the NIRP and NEDEP are programmes in the right direction.

    A caste of three students from Jikwuoi International school, Abuja and a presentation by Nigeria’s Nollywood best added colour to the event. The youngsters urged people to save, so they could invest. In their words: “In the old days, the man who saves was a miser, but now, he is a wonder.”

    Done with the solidarity messages, Jonathan, walked up the podium to formally inaugurate the NIRP and NEDEP, saying the NIRP is the most ambitious and comprehensive road map that would transform the nation’s industrial landscape, boost skills development, enhance job creation and conserve foreign exchange.

    His words: “The NIRP is the flagship industrialisation programme ever embarked upon by this country. It will fast-track industrialisation, accelerate inclusive economic growth, job creation, transform Nigeria’s business environment and stop the drain on our foreign reserves caused by importing what we can produce in locally.

    “The Nigeria Industrial Revolution Plan is the most ambitious and comprehensive industrialisation programme because it is based on the areas where Nigeria has competitive and comparative advantage such as agriculture and agro-products, metals and solid minerals, oil and gas, construction and light manufacturing services. It has identified those sectors where Nigeria can be number one in Africa and top 10 globally.”

    He said NEDEP, would help reposition the MSME sector as the major driver of job creation and inclusive economic growth, adding that the Federal Government would continue to promote the patronage of made-in-Nigeria products through the implementation of its local patronage policies and programmes, adding that NEDEP is designed to develop and grow the Micro, Small and Medium Enterprises because all over the world, the MSMEs are primary drivers of employment. With the successful implementation of the National Enterprise Development Programme, Nigeria will attain her dream of inclusive economic growth.

     

  • Manufacturers to earn extra N5tr yearly, says Jonathan

    Manufacturers to earn extra N5tr yearly, says Jonathan

    • ‘I’ll leave behind a better, stronger Nigeria’

    From the President came yesterday cheery news for manufaturers – they are to earn extra N5 trillion annually.

    President Goodluck Jonathan spoke at the launch of the Nigeria Industrial Revolution Plan (NIRP) and the National Enterprise Development Programme (NEDEP) at the Banquet Hall of the State House, Abuja.

    Jonathan said the NIRP will boost manufactureres revenue.

    According to him, the NIRP will usher in a new era of value addition, enterprise development and industrialisation in the country, which will create jobs and tap into existing markets.

    The President said his administration has consolidated on fiscal position, adding that transformation of the agricultural sector will boost Nigeria’s food production by 20 million tonnes per annum.

    He promised that he would continue to take steps to ensure that he lives behind a stronger and better Nigeria.

    Jonathan said: “The benefit of NIRP will boost the annual revenue earned by Nigerian manufacturers by up to N5 trillion per annum.

    “As we celebrate our centenary, it is clear to us that the measures of the nation cannot be detached from the dependability of its economy and a great economy must based on a solid industrial sector with well diversified minds and sources of revenue and a vibrant micro and small medium enterprises sector to create jobs and provide leverages.

    “The Nigeria Industrial revolution Plan and the National Enterprise Development Programme will help to fast track the attainment of these goals. They are targeted at transforming Nigerian businesses and changing the lives of the ordinary people. It will accelerate inclusive growth and job creation and save the drain on our reserve cause by importing what we can produce locally.

    He went on: “The Nigeria Industrial Revolution Plan, the National Enterprise Development Programme will also impress impetus for our National Transformation Agenda by ushering in a new era of value addition, enterprise development and industrialisation. I sincerely believe that the Nigerian economy must be developed into one of the most elements of national… That is why we have been resolute in executing the Nigerian agenda for economic reform. Our track record in this regard is strong every year. Just coming into office we have consolidated Nigeria’s fiscal position. It is our expectation that the Nigeria Industrial Revolution Plan and the National Enterprise Development Programme will be major additions to these landmarks achievements.”

    He maintained that the NIRP as an industrialisation programme will accelerate the country’s comparative and competitive advantages, such as the processing of food and agricultural products, metals and solid mineral processing.

    The President said: “The NEDEP has placed micro, small and medium enterprises at the center of our national economic policy, our vision is to take this new model for national enterprise development to all the 774 local governments in our country.”

    The programme, he said, will unlock the potential of Nigeria’s micro, small and medium enterprises sector by resolving many of the problems that most small business face such as access to finance, access to market, weak business development, dearth of technical skills, lack of infrastructure and insufficient market information.

    “We made very notable progressive towards our objective since we started implementing the two programme 12 months ago. Through the Nigeria industrial revolution plan (NIRP), we have significant cut the cost of business incorporation in Nigeria, we have mobilised new investments in the sugar sector exceeding $3 billion. In just four months, our auto mobilisation programme has attracted over six international car manufacturers including Nissan and Hyundai. We have also consolidated gains in the cement sector which has attracted over $8 billion in investment and in supporting 1.6 million jobs.”

     

     

    “We have refocused attention on micro enterprises, in the last 12 months, the Bank of Industry has disbursed N10 billion to the smallest and the most fragile businesses at the bottom of the pyramid. As we look ahead to the future, sustainability and effectiveness are core principles that will guide our action. We will not only sustain the momentum of both Nigeria industrial revolution plan (NIRP) and the National Enterprise development programme (NEDEP), but also expand their impacts and reach.”

     

    Speaking on made in Nigeria vehicles, he said: “So far no traditional ruler, no school child has died from using Innoson Motors and we have recently acquire all of them for our SURE-P programmes in all the states. At the federal level, I will also use this opportunity to plead with the states, we only accepts vehicles not produced in Nigeria. And not just vehicle only, and you know that the Due Process Law allows us to buy made in Nigerian products at 15 per cent higher than the imported ones to encourage local production.”

     

    “At the exhibition stances we saw the armoured vehicles, the Armoured Personnel Carriers, to food stuff, textile wears, shoes, soaps, leather wears, all being produced in this country, I’m quite hopeful that Nigeria is on the track to greatness.”

     

    “Let me emphasis that legacies define all historical efforts, at this stage of the Nigerian journey, we must try to build legacies that will outlive us. All great countries are build on sustaining improvements from one generation to the next and I assure you all, that this administration will leave worthy legacies for future generations of Nigeria.”

     

    “Without finances we cannot develop, the power programme was quite successful, and there is hope that we will get funds from within and outside this country to invest in our power sector.”

     

    “We are launching this twin programme Nigeria industrial revolution plan (NIRP) and the National Enterprise development programme (NEDEP), these are clear indications that we will leave this country, stronger and better than we met it.” He stated

     

    Speaking earlier, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said that the holistic and integrated nature of the NIPR and NEDEP had provided synergy and necessary linkages with other development plans of various Ministries, Departments and Agencies of the government and the private sector.

     

    According to him, his ministry would partner all the stakeholders to ensure the successful implementation of the programmes.

     

    “The NIRP and NEDEP are both holistic and integrated. This means that they are joined at the waist with other MDAs. The NIRP and NEDEP adopt inclusive structures which bring in other government agencies and the private sector to ensure adequate policy synergy,” he stated

    END

     

     

  • 5m jobs coming, says SMEDAN chief

    5m jobs coming, says SMEDAN chief

    No fewer than five million jobs would be created under the National Enterprise Development Programme (NEDEP) in the next three years, the Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN),Alhaji Bature Masari, has said.

    He spoke at the inauguration of the programme in Kaduna.

    His words: “The National Enterprise Development Programme (NEDEP), which is aimed at generating an estimated five million direct and indirect jobs between 2013 and 2015, is being implemented under three pillars.

    “Namely, the Technical/Vocational Skills Acquisition, Business Development Services (BDS)/Entrepreneurship Training and Access to Finance.’’

    According to him, the BDS component of the programme would be anchored under the One Local Government One Product Programme (OLOP), meant to revitalise the rural economy, by providing employment and alleviating poverty in rural areas.

    “Other benefits include the entrenchment of entrepreneurial culture, economic development, industrialisation of rural areas, industrial cluster development, increase Medium and small scale enterprises’ (MSMEs) contribution to gross domestic product (GDP), increase export potential, crime reduction, wealth creation and political stability.’’

    He said the project would be achieved through the establishment of sustainable MSMEs in the 774 local government areas based on csome omparative and competitive advantages.

    He said the agency had conducted needs assessment in 22 states, and was doing a baseline survey and value-chain analysis in six others across the geo-political zones.

    “At this level of the programme, cooperative societies and trade associations are being formed and registered, and assisted to develop bankable business plans as a prelude to access to finance, markets and machinery/equipment.

    “Over 1,000 cooperative groups and their business plans are currently being handed over to Bank of Industry (BoI) for appraisal and eventual financing, while thousands more are in the process of been finalised.,’ he added.

    In a message to the event, the Minister of Industry, Trade and Investment, Mr Olusegun Aganga said the programme and others were aimed at ensuring economic growth and improvement in the standards of living.

    Aganga, who was represented by an aide, Mr Abi Mustapha, said the government was working towards increasing access to markets for small and medium scale enterprises (SMEs) operators.

     

    He urged state governments to key into the programme so as to create job opportunities and improve the economy of the country.

    In his remarks, Gov. Mukhtar Yero of Kaduna State, charged the state SME board to ensure the success of the programme.

    Yero said it would help to move the nation forward, by enhancing the economy, reducing poverty and unemployment in the state.

    The governor said 1,200 unemployed graduates would be trained on developing business plans, adding that selected beneficiaries would be empowered to set up their businesses.

     

     

  • SMEDAN to create 5m jobs through NEDEP

    The Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, has hinted of plans to create five million new jobs through its National Enterprises Development Programme, NEDEP before 2015.

    Director-General of the agency, Alhaji Bature Masari, disclosed this at an interactive session with journalists in Abuja, stating that with NEDEP, it would be easier to implement the One Local Government One Product, OLOP scheme across the country.

    He said, “NEDEP would cover all states of the federation and Abuja with a view to conducting survey of every products being produced in each local governments as part of the strategies mapped out by SMEDAN to achieve the goal.

    “Our objective is that within the few years of implementing NEDEP and other programmes to be initiated, we will generate an estimated five million direct and indirect jobs.

    “I came here with a mission. My mission is to contribute immensely to the growth of MSMEs all over the country. MSMEs play the lead role in creating additional employments, wealth generation and poverty reduction.

    “Part of our strategy is to create new clusters of businesses based on competitive and comparative advantages already identified through the OLOP initiative and raw materials mapping in the 774 local governments.”

    He added that SMEDAN, which will identify skills of each youth, would work in conjunction with the Industrial Training Fund, ITF which would train them and the Bank of Industry, BoI, for finance.

    The D-G disclosed that the pilot scheme has started in Kano and Niger states, this will develop to create jobs, generate wealth and eradicate poverty in the country.

    This, he said, would be done through the micro, small and medium enterprises, MSMEs, sector for effective skills training and acquisition as well as business services development. SMEDAN had just opened new offices in 11 states and we want to cover all states before the end of the year.

    SMEDAN is being reorganised to make it more effective. The Federal Government is planning to launch the National Council of MSMEs, comprising the federal, state and local governments to manage the economy for rapid development of the country.