MSMEs, `livewire` of every growing economy, says Katagum

Customers inspecting locally-manufactured shoes

The Minister of State for Industry, Trade and Investment, Mrs Mariam Katagum, has said the Micro, Small and Medium Enterprises (MSMEs) are the life-wire of every growing economy.

Katagum said this at the opening of the 2nd project dissemination on strengthening capacity of local MSMEs and manufacturers to produce high quality PPEs and healthcare related products in Lagos.

Katagum, represented by the Director, Industrial Development in the Ministry, Adewale Bakare, said the implementation of the project had helped in boosting the economy.

She said the project has opened up Nigerian healthcare-related products to the international market.

The Minister said this was achieved by the immense empowerment of MSMEs and manufacturers in the production of high quality PPEs in line with international best practices.

This will support the creation of decent jobs/employment, improve supply chains, and promote transformative economic recovery and growth.

“In September, I chaired the Presidential Steering and Consultative Committee (PSCC) and I reiterated the importance of this project, especially in mitigating the impact of the COVID pandemic on our MSMEs.

“I was thrilled when I listened to the presentation by the Technical Assistant to the project, Jarl Hansstein, who highlighted that a total of 162 enterprises benefited from UNIDO’s Technical Assistance and Training.

“Out of which, about 70% are women and 52% are youths. The project successfully facilitated Corporate Affairs Commission (CAC) business name registration for 34 MSMEs.

“These achievements are in line with the objective of the project in contributing to increasing the resilience of Nigerian MSMEs in the context of COVID-19 pandemic.

“And this will support the creation of decent jobs/employment, improve supply chains, and promote transformative economic recovery and growth,” she said.

Katagum assured PUNOs of her support as chair of the PSCC, and also reiterated the Ministry’s readiness to support initiatives that would lead to economic growth and development, especially for MSMEs.

Regional Director, United Nations Industrial Organisation (UNIDO), Jean Bakole, said the objective of the project is to ensure MSMEs produce high quality products.

He appreciated the Federal Government for its support, adding that the support had remained key in sustaining the project. (NAN)

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