Key Points
- SMEDAN plans to replace fragmented MSME interventions with a coordinated national support framework.
- The revised policy will focus on productivity, competitiveness, digital transformation and access to finance.
- Stakeholders say effective coordination and implementation will be critical to achieving the policy’s objectives.
Main Story
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is seeking to reposition government support for micro, small and medium enterprises (MSMEs) towards businesses that can expand, compete and create jobs.
The agency’s Director-General, Mr Charles Odii, disclosed this on Wednesday at the National Stakeholders Validation Workshop on the Review of the National Policy on MSMEs in Abuja.
Represented by the Acting Director, Policy Planning, Research and Statistics, Mr Philip Udeochu, Odii said the review was intended to replace the current fragmented approach to MSME support with a more coordinated national system.
He said the proposed framework would place greater emphasis on productivity, business competitiveness, digital transformation and reliable enterprise data.
The policy would also seek to improve the capacity of Nigerian businesses to compete in regional and international markets, while encouraging formalisation, employment and enterprise expansion.
Odii said the review process had involved consultations with entrepreneurs and other stakeholders across different parts of the economy, including physical markets, workshops, farms and digital platforms.
He urged participants to assess the draft critically and ensure that the final document addressed the actual challenges faced by businesses.
The Issues
The review comes against the backdrop of changing business conditions, technological developments and new models of enterprise that require government support to evolve.
The Federal Ministry of Industry, Trade and Investment said MSMEs remained important to job creation, entrepreneurship, innovation and value generation, making an effective policy framework necessary for their continued development.
However, stakeholders identified implementation and coordination as major factors that could determine whether the revised policy produces results.
Mr Omoware Akinropo, Head of Component, SEDIN, GIZ, pointed to gaps in coordination between the federal, state and local governments as one of the challenges affecting the implementation of MSME policies.
He also called for the Technical Working Group involved in the review to remain in place after the validation process to provide continuity in implementation, monitoring and reporting.
What’s Being Said
“The policy is designed to help Nigerian MSMEs thrive, scale and win, rather than merely survive.” — Charles Odii, Director-General, SMEDAN
“Changing economic realities, emerging technologies and evolving business models require a responsive MSME policy.” — Chris Isokpunwu, Permanent Secretary, Federal Ministry of Industry, Trade and Investment
“Effective implementation remains critical to achieving the objectives of the revised policy.” — Omoware Akinropo, Head of Component, SEDIN, GIZ
“Weak coordination among federal, state and local governments is one of the major challenges affecting MSME policy implementation.” — Omoware Akinropo, Head of Component, SEDIN, GIZ
“Stronger MSMEs would contribute to building a more competitive and sustainable Nigerian economy.” — Anum Serumun, Administrative Secretary, NASSI
What’s Next
SMEDAN is expected to use feedback from the validation workshop to refine the proposed policy before its final adoption.
Akinropo urged the agency to maintain the Technical Working Group after validation to help coordinate implementation, monitoring and reporting.
GIZ also indicated its readiness to continue providing technical assistance to SMEDAN and other stakeholders as the revised policy moves towards implementation.
Bottom Line
The revised MSME policy is designed to move government support beyond helping businesses survive towards creating conditions for them to formalise, grow and compete. Its success, however, will depend on effective coordination across government and sustained implementation after the policy is adopted.
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