The impact of government’s efforts in the development and promotion of small and medium scale enterprises (SMEs) in the country must be clear and measurable, according to Vice President Prof. Yemi Osinbajo, SAN.
The Vice President said this is the only way massive funding can be attracted to fund small and medium scale businesses from investors and banks.
He spoke earlier today during a briefing session in his office by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), led by its Director-General, Alhaji Bature Masari. Prof. Osinbajo said scale and focus were key for the agency to achieve the goals for which it was created.
Stressing the importance of SMEDAN succeeding in its mandate, the Vice President said a well-structured small and medium scale industry is the way to go if the Nigerian economy must be developed and catch up with the advanced world.
“It is when people are able to do things for themselves, that is when we can say we are developed,” Prof. Osinbajo said. “No country develops without vibrant small and medium enterprises. It is the base for commerce and industry. We need to scale up. We must design a strategy that allows us to create an impact with the people.
This is what the big nations of the world are doing.” Elucidating on his thoughts, the Vice President said there was need for focus; the kind that is people-oriented in planning and execution.
“Naturally, Nigerians have commercial inclinations,” he said. “The problem is the absence of capacity building. People have ideas, but cannot execute these ideas, some are even lacking in bookkeeping.”
-Tony Aileman, Abuja