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MSMEs Contributes N38.8trn To GDP – SMEDAN DG

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The director-general of the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Dikko Radda, has said that the Micro, Small and Medium Enterprises (MSMEs) contributes about N38.8 trillion (48.47%) to the nation’s Gross Domestic Product, GDP.

Radda disclosed this yesterday while delivering a keynote speech at the Stakeholders’ Inception Workshop for national MSMEs survey organised by the National Bureau of Statistics, (NBS) in Abuja.

He quoted a recently concluded survey on the MSMEs which put the number of MSMEs in Nigeria at 37 million with 58 million employed persons.

‘‘This was one of the challenges that faced SMEDAN at the inception, apart from the statistics about the sub-sector, their numbers; persons they employ, productive sectors they operate in. It was this state of affairs that eventually in 2010 led to the commencement of the strategic partnership with NBS to provide the survey to be reviewed after every three years with concerns for enterprise mortality and morbidity peculiar to the sub-sector.’’

Radda, who was represented by the director, Enterprise Development and Promotion, Wale Fasanya, also explained that to optimise the MSMEs sub-sector, adequate and reliable information/data was required to anchor planned interventions.

Meanwhile, SMEDAN has commenced preparation to carry out survey that provides current data on the MSMEs currently operating in Nigeria.

Also speaking at the workshop, the statistician-general, Dr. Yemi Kale, who was represented by Dr. Isiaka Olarenwaju, the director of real sector and household statistics, said that federal government needs current and accurate data to aid in the empowering, growth, development and performance of MSMEs.

According to him, “MSMEs are very important catalyst in the development and industrialisation of our country. Its contribution to the transmission of agricultural- led economy to industrial ones cannot be overemphasized. It helps in the absorption of productive resources at all levels of the economy and contributes to the building of flexible economic system in which small and large firms are interlinked.”

In an interview with LEADERSHIP, Olarenwaju said the full survey would commence in two weeks’ time across the 36 states and the FCT.

According to him, the survey would be administered using the computer – assisted personal interview (CAPI) to facilitate speed and accuracy. Nine hundred households would be sampled in every state across the nation and FCT.




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