Skip to main content

Relief for Nigerian MSMEs as FG launches Conditional Grant Scheme (CGS) to support informal sector



Oredola Adeola |

Relief seems to have come the way of Micro, Small and Medium Scale Entrepreneurs in Nigeria as the Federal Government through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has put up measure to enhance the competitiveness of players in the informal sector by providing accessible funds for their operations.

Dr.Umaru-Radda, SMEDAN

 Dr Dikko Umaru-Radda, Director General of SMEDAN officially kicked off the agency’s Conditional Grant Scheme (CGS) in Bauchi State on Saturday, being part of efforts to enhance the competitiveness of the operators towards meeting national, regional and global standard.

Recall that the SMEDAN in February inaugurated the Conditional Grant Scheme (CGS) championed with the support of Federal Government in Lagos State, while the pilot phase of the project was conducted in 2017 in Katsina State where 34 Local Government Areas (LGAs) were involved, Gombe (11 LGAs), Ebonyi (13 LGAs), Oyo (33 LGAs), Akwa Ibom (31 LGAs) and Benue (23 LGAs), making a total of 145 LGAs.
Call 08098262437 to publicise your brand/products here


Meanwhile, the agency has revealed plan to extend the scheme to other states of the country subject to availability of project funds. SMEDAN said the scheme is scheduled to run in three states which are Lagos, Bauchi and Sokoto States.

Dr. Umaru-Radda at the flag-off ceremony of the Conditional Grant Scheme (CGS) in Bauchi, disclosed that there are about 1,800 persons selected from the 20 local government areas of the state are expected to benefit from the scheme in the state.

The SMEDAN boss in Bauchi, disclosed that the micro enterprises sector being informal and run by people at the bottom of the pyramid, prompted SMEDAN to conceptualise a flagship programme of Conditional Grant Scheme for micro enterprises.

He said, “The justification for a special entrepreneurship/Vocational development intervention for the entrepreneurs at the bottom at the pyramid cannot be over emphasised based on the need to graduate informal enterprises to the formal sector, industrialised the nation, develop the rural economy, stem youth restiveness and unemployment and create the platform for sustainable economic growth and development in Nigeria.

  1. For advert placement please call 08098262437


Speaking in respect of  a survey conducted by the National MSMEs conducted between 2010 and 2013, Dr. Umaru-Radda said 37 million MSME engaged 59.7 million persons, which is 84.2 per cent of labour force, contributing to 7.27 per cent of the nation’s Gross Domestic Product (GDP).

According to him, 90 per cent of the micro enterprises are informal and populated by people at the bottom of the pyramid, hence the introduction of Condition Grant Scheme (CGS) for micro enterprises in Nigeria.

He noted that the scheme would help people in the micro enterprises sub sector which he said provides employment more than the other sub sectors of the economy.

Umaru-Radda said, “This present initiative (Conditional Grant Scheme) looks to promoting the activities of micro enterprises across the country in the areas of capacity building and the delivery of post-intervention support services such as access to finance (conditional grants), markets, workspace, technology, among others.”

He further emphasis on the need for a special entrepreneurship/vocational development intervention for the entrepreneurs at the bottom of the pyramid, in view of the need to graduate the operators from the informal to the formal sector, industrialise the nation, develop the rural economy, stem youth restiveness and unemployment and create the platform for sustainable economic growth and development in Nigeria.

It is however evident that the strategy of the scheme by the Federal Government is meant to ease the performance tension of the SMEs in the country , some of which includes poor access to finance, inadequate managerial skills, poor accounting practice, poor infrastructure, policy somersault, multiple taxes, environmental factors, and marketing problems, among others.

Comments

Post a Comment

Popular posts from this blog

MMA is a disgrace to Nigeria, the designer is a traitor – Tunde Alabi-Hundeyin writes VP Osinbajo

Oredola Adeola|  Movie and Documentary producer, Tunde Alabi-Hundeyin Dudu, has exposed the level of rot at the Muritala Muhammed Airport, Lagos in an open letter written to Professor Yemi Osinbajo, Vice President. In the letter, the Documentary photographer, disclosed that the arrival system in Muritala Muhammed airport is a disgrace to Nigeria. He particularly noted that Nigeria has no aviation Minister, adding that whosoever designed the arrival system in MMA is a traitor. Tunde Alabi-Hundeyin He said, “Sir I’m directing my comments to you because I’m aware you toured that airport before the elections. They showed you the glittering lounges . However when you arrive in Nigeria or you go to receive someone arriving, it’s a horror story. It’s a total disgrace. Let me explain. “I had cause to go and welcome someone coming in from the US. We parked in the designated car park. Then the obstacles started. The path you have to trek to get to the front of the arrival hal...
1 comment
Read more

2019 Hajj: Six Nigerian pilgrims die in Saudi Arabia

A middle aged woman, pilgrim from Lagos State, slumped and died in the early hours of Sunday morning in Mecca during the devil stoning ritual at Jamarat Aqaba, outside Mina, thereby bringing the number of Nigerian pilgrims that have died in this year’s Hajj in Saudi Arabia to six(6). The National Hajj Commission of Nigeria confirmed the death of the Nigerian pilgrims in Saudi Arabia . Dr Ibrahim Kana , Chairman, National Medical Team, released the figure in Madinah from the commission ’s National Medical Team Electronic Health Medical Records. The Commission had earlier said, “ So far , Nigeria has lost six pilgrims including four females and two males ; out of which one died in Madina while the remaining four died in the city of Makkah. “ They all died of various illnesses including heart and lung diseases. “ Records shows that so far in both Makkah and Madina , we have made 10,485 diagnoses with Makkah accounting for over 60 per cent. “ Additionally , 108 referrals wer...
Post a Comment
Read more

6 more Abidjan returnees confirmed positive for Corona virus

Oredola Adeola Six(6) more Ivory Coast returnees to Ejigbo, a town in Osun State have tested positive for coronavirus, bringing the total number of cases in the state to 20 . Osun State, Commissioner for Health , Dr Rafiu Isamotu has confirmed to pressmen that all the 127 returnees had been tested and 18 of them had returned positive. Ealier, TheEditorialsng reported that Twelve(12) out of 127 Osun State returnees from Cote D'Ivoire heading to Ejigbo, a town in the state, have tested positive to the Corona virus . With the new development the number of positive cases in Osun has increased and have since been kept in the quarantine, while others who are in isolation are being tested. Investigation by our correspondent shows that some of the returnees in isolation had earlier played host to a few relatives under the cover of the night, which further raises the concern that more pesons may have contracted the deadly virus. As at 12:30 pm on 1st April, Osun State now trailed...
Post a Comment
Read more