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States’ One-Stop-Shop for MSMEs to stimulate economy—FG

The federal Government has explained the rationale behind the move to launch One-Stop-Shop for MSMEs across the state beginning with seven states, saying the idea is to deepen the growth of the sub sector which is key to economy stability.

Government also noted that the launch is to significantly spur Micro, Small and Medium Scale Enterprises (MSMEs) in the country.

The Federal Government would launch one-stop shops in no fewer than seven states across the country.

According to a statement issued by the Vice President’s Spokesman, Laolu Akande, “The measure is to facilitate smoother government regulation and interface between entrepreneurs and agencies of government”.

“Already one such one-stop shop for MSMEs in Plateau State was launched in Jos on Aug. 24, and was being housed by the Plateau State Micro-Finance Development Agency (PLASMEDA).

Continuing, he said the states that are next in line are Abia, Cross River, Ogun, Akwa Ibom, Kwara, Kano, Benue and the FCT.

The shops were slated to take off between September and October, and more of the one-stop shops are expected to be launched in other states before the end of the year.

The one-stop-shop is aimed at bridging the information gap between micro and small investors and regulatory agencies of government.

“Such agencies include the National Agency for Food and Drug Administration and Control (NAFDAC), Corporate Affairs Commission (CAC), Standards Organization of Nigeria (SON), Federal Inland Revenue Service (FIRS), and others.

The statement also noted that the MSMEs clinics which held in several States already had provided the opportunities for entrepreneurs and local producers in the MSME level to interact with regulatory agencies.

Business Hilights recalls that the One-Stop Shop programme is part of the on-going Nationwide Micro, Small and Medium Enterprise Clinics for Viable Enterprises (MSME Clinics) initiated by the Presidency in January 2017.

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