Nigeria: SMEDAN Launches Registration Scheme to Boost Funding to MSMEs

28 February 2020

Abuja — The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has introduced a nationwide Medium Mass Registration Program (MMRP) to provide tailored and critical hand-holding services to the Micro Small and Medium Enterprises (MSMEs) operating in the informal sector.

The Director General of SMEDAN, Dr. Umar Dikko Radda, said at the end of the exercise, MSMEs registered on SMEDAN official web portal would gain access to funding support, empowerment, training and other facilities provided by federal government agencies as well as other lending and support institutions at the federal, state and local government levels.

He said the exercise also would facilitate the sourcing, developing, warehousing and management of a comprehensive and verifiable database of MSMEs with a view to providing wholesome solution to a formalised subsector of the economy.

He said the move was to also ensure that their growth, sustainability and diversification going forward adding that the programme is expected to facilitate the development of a comprehensive database for MSMEs in the country.

Radda, also said successfully registered MSMEs would be issued a Digital MSME Certificate, as well as a SMEDAN Unique Identification Number (SUIN).

The on-going exercise aims to integrate over 40 million MSMEs across the country. The information provided would be accessible to donor agencies and multilateral organisations that wish to provide developmental support for MSMEs.

He said registered MSMEs would gain subsidised access to specialised advisory and Business Development Support (BDS) services and would be exposed to free mentorship services, participate automatically in government procurement processes, enjoy tax holidays among other incentives.

The DG, who assured that the registration scheme would also create millions of jobs for Nigerians, added that a comprehensive database of grassroots entrepreneurs cannot be overemphasised as well as migrating informal enterprises to the formal sector.

Meanwhile, Minister of State Industry, Trade and Investment, Hajiya Mariam Katagum has applauded the online registration project for small businesses adding that it will benefit and impact positively on Nigerians.

See What Everyone is Watching

More From: This Day

Don't Miss

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.