The federal government has given cash, house and vehicle rewards to over 15 enterprises Micro Small and Medium Enterprises (MSMEs) and two state governments that have distinguished themselves in business activities, job creation and economic support initiatives.
Done in collaboration with some private sector partners, the awards were presented to the winners from a list of over 200 contestants as part of incentives to support innovation, standard and encourage the small-sized businesses to favourably compete with their foreign counterparts.
Earlier in the day, Vice President Kashim Shettima said MSMEs across the country should not only be seen as a means to job creation but also as a solution to some of the security challenges facing the nation. The event was themed: ‘Call to Action: Provision of Sustainable Single-Digit Loans for MSMEs,’ and organised by the Office of the Senior Special Assistant to the President on Job Creation and MSMEs, in collaboration with the African Union Commission.
He made the call at the International Dialogue on Financing MSMEs in Africa to commemorate the 2024 World MSMEs Day, the vice president said with revenue from oil slipping 6.6 percent in 2022 to about 5.2 percent in 2023, there is a need to harness numerous benefits of MSMEs.
Beneficiaries of the keenly contested awards include Desoor Bags which won the award of excellence for the outstanding MSMEs clinic participant; Tarufa Management Enterprises won the Herbert Wigwe outstanding MSMEs clinic participant (male category), while CDIAL AI won the award for technology and innovation. Mamachiz Global Enterprises Ltd won the best company in furniture and woodwork.
Small and Medium Enterprises Development Agency’s award for excellence in manufacturing went to Bimkaf Palace Nigeria Limited. Bank of Industry (BOI) award of excellence for the MSMEs of the year went to Dharkagempire Ltd, while Lamshef’s Collection Global Services Nig. Ltd clinched the Nigerian Export-Import Bank (NEXIM) award of excellence in fashion & style. Likewise, Development Bank of Nigeria (DBN) award of excellence in leather works JHOS Carryall Enterprises.
Others are: National Agency for Food, Drug Administration and Control (NAFDAC) award of excellence in beauty and wellness, Kenmal Vin Nigeria Limited; Federal Inland Revenue Service (Firs) award of excellence in tax compliance, Lafbart Innovations and Consulting Ltd; National Sugar Council Development award of excellence in agriculture, Food is Medicine Nigeria Limited; and National Tourism Development Authority (NTDA) award of excellence in creative art went to Heartofjere
Benue and Katsina State governors were also rewarded for their outstanding contributions to supporting SMEs in their states at the event that took place at the Presidential Villa on Thursday night.
Represented by the deputy chief of staff to the president, Ibrahim Hadejia, Shettima said the kind of impact that MSMEs have makes them look as a solution not just to unemployment but also to security as the case may be.” He noted that Nigeria marks this year’s MSMEs Day by bringing the issues facing MSMEs to the front burner, while proffering solutions on how to solve such issues.
In his address, the senior special assistant to the President on job creation and MSMEs, Tola Adekunle-Johnson, appreciated the AU Commission and partners for supporting MSMEs in Nigeria.
He said that Africa can now achieve single-digit facilities for MSMEs through these supports at various capacities.
His words: “I know and I am convinced that as a continent, we can do something about this; we can achieve single digits for MSMEs that are sustainable. There is no nation anywhere in the world that can survive without paying great attention to their MSMEs. They are the heartbeat of any nation,” Adekunle Johnson added.
Appreciating various partners including the leadership of the African Union Commission for collaborating with the Nigerian Government to bring together relevant stakeholders to support MSMEs in Africa, the vice president said this will be a boost to the continent’s economy.
MSMEs in Nigeria account for 96 per cent of all businesses, they contribute to our economy by over 45 per cent and without them, 80 percent of the current Nigerian workforce will be without employment. These facts provide us with the evidence that if MSMEs prosper, Nigeria prospers, if MSMEs prosper, Africa prospers, if MSMEs prosper, the entire world prospers.
“They (the MSMEs) account for 90 per cent of all businesses worldwide and employ over 60 per cent of the global workforce,” Shettima said.
Also speaking, the deputy chairperson of the AU Commission, Dr Monique Nsanzabaganwa, said the Commission is focused on unlocking $100 billion for youth and women involved in MSMEs across the continent.
She said this will be achieved through its Women and Youth Financial and Economic Inclusion Initiative (WYFEII) – an initiative focused on the promotion of small businesses in Africa and it hopes to unlock the funds between now and the year 2030.
“WYFEI 2030 has dedicated itself to offering a partnership framework for an intentional and accountable delivery of the African Union’s decade of women’s financial and economic inclusion, running from 2020-2030. WYFEI 2030 aims to unlock $100 billion for at least 10 million women and youth SMEs by 2030,” Dr Nsanzabaganwa said.
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