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FG approves special window for MSMES

VP Osinbajo arrives at Enugu State.

In its bid to further ease the process of registering Micro, Small and Medium Enterprises (MSMEs) in the country, Vice President Yemi Osinbajo today, announced the Federal Government’s approval of a 90-day special window to register businesses at a reduced rate of N5000 only.

 

The Vice President who made the disclosure on Tuesday at the launch of the 19th edition of the National MSMEs Clinics in Enugu, Enugu State, said the special window of 90 days starts from October 1st to Dec 31st 2018.

 

According to Prof. Osinbajo, “It was observed during some of the earlier editions of the MSME Clinics that a lot of MSMEs were finding it difficult to register their businesses as a result of cost. 

 

VP Osinbajo in an interactive session with Tech savvy youths at Genesys Tech Hub.

Speaking on other initiatives by the Federal Government designed to consolidate the gains of the MSMEs Clinics, Prof. Osinbajo said, “we will be establishing shared facilities for MSMEs based on a partnership between the Federal Government, interested States, Bank of Industry, NEXIM Bank, FIRS, NAFDAC, SON and interested private sector partners, as part of our efforts at deepening the impact of the Clinics.”

 

He also announced the Federal Government’s willingness to partner with State governments in establishing more One-Stop Shops, to further enhance business registration and facilitate seamless interaction between owners of small businesses and the relevant regulatory agencies.  

 

VP Osinbajo inpects and interacts with MSMEs at the MSME clinic, Enugu.

According to him, “we are also aware that some States have gone on to set up ‘One-Stop Shops’ after the Clinics. These One-Stop Shops bring all the relevant agencies together in one place so as to enable the MSMEs access their services on an on-going basis.

 

Prof. Osinbajo also said there were follow-up plans to “ensure that all the finalists from the maiden edition of the MSME Awards are supported with publicity and media exposure, to enable them to reach even larger markets at home and abroad.”  

 

He stated that the ongoing disbursement of collateral and interest-free loans given to petty traders under the GEEP TraderMoni programme would soon be launched in Enugu.

 

VP Osinbajo with Gov. Enugu state, Rt. Dr Ifeanyi Ugwuanyi (right); Dep. Gov. Enugu state, Mrs. Cecilia Ezeilo (left) and Tech Savvy youths at Genesys tech hub.

Earlier in his remarks, Governor Ifeanyi, Ugwuanyi of Enugu said the State government had already keyed into some of the social investment programmes initiated by the Federal Government, assuring that the State would continue to cooperate with all federal authorities to improve the well-being of the people.

 

He thanked the Federal Government for the launch of the National MSMEs Clinics in the state, noting that it would greatly improve the lives of many youths especially those seeking employment opportunities.

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