This is time for MSMEs to consolidate, become relevant—-SMEDAN boss, Radda

Considering the observed too much talk-shops on how to grow the activities of Micro, Small, and Medium Enterprises (MSMEs) business support in Nigeria, the Director-General of Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Dr Dikko Radda, has said its time to move to the next stage of making the sector grow and become globally competitive.

In his remarks at a programme organised by his agency and Growth and Employment in States (GEMS), he said MSMEs were faced with a number of critical constraints which included lack of access to finance, lack of access to market and lack of access to workspace.

Radda stressed that “The low level of access of finance and financial exclusion can largely be attributed to lack of credible information on sources and forms of business finance for MSMEs”.

“This concern led to the joint effort of SMEDAN and GEMS3 who conceptualised and powered the CIP and the Business Development Service Providers Accreditation Framework Initiative.

“The CIP is designed to facilitate information collection and storage across the financial system and serves as a link between users of business finance and providers.

“We are hoping that this portal will create a better access to finance improve financial inclusion for MSMEs, generate more business for financial institutions and improve the overall climate of doing business in Nigeria,’’ SMEDAN boss noted.