The Federal Ministry of Industry, Trade and Investment, has restated the Federal Government’s commitment to initiate and implement policies that will drive Nigeria’s industrial sector.
The Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum said this at the 34th National Convention/Election of executives of the Association of Small-Scale Industrialists (NASSI) in Abuja on Monday.
The theme of the event is: “The Impact of Industrial Association and its Governance on Enterprise Development in Nigeria”.
Katagum was represented by Mr Enyi Edwards, the Principal Industrial Officer in the ministry.
According to Katagum, development of policies and effective implementation of programmes would drive the industrial sector of the economy; create job opportunities, wealth, economic growth and development.
“It is a known fact that small-scale industries make use of the resources in the country to produce goods and services and add value to products.
“One of the cardinal mandates of the ministry is to develop policies and programmes that will drive the industrial sector of the economy to create job opportunities, wealth, economic growth and development,’’ Katagum said.
She said that the ministry had been working with various Business Membership Organisations (BMOS) to support the growth and development of the industrial sector of the economy.
“This is knowing fully well that small-scale industries are the fulcrum of economic growth and development,’’ she said.
While emphasising that no nation could thrive without concerted efforts to develop policies and programmes that facilitate and enhance economic activities, Katagum pledged the government’s collaboration with stakeholders to grow the economy.
“The Federal Government has continued and will continue to explore possible means to grow the economy through collaborations with critical stakeholders.
“The Government has been making efforts to cushion the effect of the economic downturn, especially on small businesses by providing palliatives to enable recovery, sustenance and improvements under the Economic Sustainability Plan (ESP).
“Some of these interventions include the Micro Small and Medium Enterprises (MSME) Survival Fund and guaranteed offtake Scheme among others,’’ Katagum said.
She further said that policies and programmes toward MSMEs development were deliberately designed to yield the desired output for MSMEs growth and development, based on economic realities and emerging trends in the MSMEs ecosystem.
According to her, the review of the National policy on MSMEs 2021 was part of efforts to take cognisance of innovation, harmonisation of MSMEs categorisation, as well as alternative funding for MSMEs.
“This is with a view to providing a robust framework that would enable stakeholders within the MSMEs ecosystem to make informed decisions on interventions, and business planning, among others,’’ Katagum said.
The minister said that the Federal Government had set up a Technical Committee for the implementation of National Policy on MSMEs.
She added that the National Enterprise Development Programme (NEDEP) was designed to coordinate the delivery of enterprise development in the country by directly addressing the critical factors that had inhibited growth of the MSMEs sector.
According to her, modalities are being put in place for the signing of Memorandum of Understanding (MoU) for the seamless implementation of the programme.
“Rigorous implementation of the programme is expected to create jobs, especially among youths and women,’’ Katagum said.
She further said that the Federal Government had commenced the establishment of six agro processing zones in each of the six geo-political zones of the country.
Katagum said that the project was aimed at full utilisation of agro products, high reduction in post-harvest losses and pre-processing of agricultural produce.
Earlier, the National President of NASSI, Chief Solomon Vongfa, commended the Federal Government for the support in growing the industrial sector.
Vongfa, however, urged the Federal Government not to relent in its efforts in providing infrastructure and support needed to promote the growth and development of small-scale, cottage and medium industries and industrialists in Nigeria.
