In a proactive move to address the challenges faced by small businesses in Rivers State, the Rivers State Government has inaugurated a State Council on Micro, Small, and Medium Enterprises (MSMEs). The council is tasked with providing guidance on policies and strategies to drive the development of MSMEs, offering significant benefits to small businesses such as improved access to finance, capacity-building opportunities, and a more conducive environment for growth and modernization. This initiative is set to enhance productivity, job creation, and global competitiveness for MSMEs across the state.

At the inauguration event  hosted by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Port Harcourt, titled Creating a Public-Private Dialogue Platform That Will Deliver Optimal Benefits for MSMEs Development, Governor Fubara, represented by the Permanent Secretary of the Rivers State Ministry of Commerce and Industry, Lawson Okuru, emphasized that the council’s objective aligns with his administration’s goal of developing human capital and creating jobs for the people of Rivers State.

He noted that “this is in line with his ‘Rivers First’ mantra, which is to deliver the dividends of democracy through initiatives like today’s event in a way that benefits everyone. There should be human capital development, and there should be job creation for our people. My charge to this council would be to address all the challenges we see affecting MSMEs.”

In his welcome address, the South-South Zonal SMEDAN, Engr. Egbuna Iloba, stressed the crucial role that MSMEs play in economic growth and poverty reduction globally. He highlighted the necessity of creating an enabling environment to foster the sector’s development and growth, stating: “Our goal is to effectively and efficiently coordinate efforts and resources to create an environment where new and existing MSMEs will optimize their productivity and attain global competitiveness. Our mission is to foster the growth of MSMEs across Nigeria through initiatives such as capacity building, access to finance, entrepreneurship training, and advocacy for policies that benefit MSMEs.”

Rivers State Manager of SMEDAN, Olalekan Rashidat, commended the state for joining others in inaugurating its MSME council, marking a milestone in streamlining operations for MSMEs. She mentioned ongoing collaborations with NGOs and development partners like the British Council to develop user service points for MSMEs, transforming them from tech-underserved to tech-savvy businesses. These efforts will help MSMEs develop skills in cybersecurity and digital marketing, enabling them to seamlessly market their products and services online.

Also speaking at the event, Public Relations Officer of the Industrial Training Fund (ITF), Ibeleogute Ibodeng, affirmed ITF’s commitment to imparting skills to youths, giving them a competitive edge in the global business environment as a key member of the newly inaugurated council.

The specific objectives of the State Council, as outlined in the revised SMEDAN National Policy on MSMEs (2021–2025), focus on providing strategic guidance for policies and initiatives aimed at driving the development of MSMEs in Rivers State. The council will promote and facilitate various development programs and support services to accelerate the growth and modernization of MSMEs while fostering networking and linkages among businesses. Additionally, it will establish standards for design and quality assurance, ensuring that MSMEs in the state meet operational criteria.

Chaired by the Rivers State Governor, the State Council on MSMEs will include representatives from the Chamber of Commerce, SMEDAN, and ministries such as Commerce, Agriculture, Finance, and Youth, as well as civil society organizations and other stakeholders in the MSME sector. This broad representation ensures a holistic approach to supporting the growth and development of MSMEs in Rivers State. The council will hold quarterly meetings to discuss and address issues affecting MSMEs in the state.

The  Small and Medium Enterprises Development Agency of Nigeria  (SMEDAN) is set to hold the National MSME Conference of 2024 , on October 3^rd to 5^th 2024, at the Presidential Villa Abuja .

To register for this conference, click:  https://smedan.gov.ng/msmeconference/