FG unveils plans for MSME.

To increase the country’s Gross Domestic Product by 70% come 2025, the Federal Government, through the Director-General of Micro, Small and Medium Enterprises of Nigeria, unveiled a new national policy to ensure its plan.

Why it matters.
Statistics show MSME contributes 49% to the GDP. Regardless, the Federal Government is looking to increase this percent by 2025. In a speech the Director-General, Dikko Radha, said, “the policy largely seeks to ensure MSMEs in the country are active, innovative and globally competitive.”

Radda said, “Understanding the challenges that have in the time past limited the implementation of past national policies and in our efforts to allow for ownership of the policy document by all identified stakeholders, we have ensured that the new national policy document detailed out a policy implementation matrix, where key mandates of MDAs informed the roles, they are to play in the implementation.

“We are not unaware of the overlap of mandates but we are equally very confident that a proper coordination mechanism can thin out the challenges usually experienced in the implementation of past policies.”

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