MSME Day, 2021
Micro, small and medium-sized enterprises, MSMEs account for over 80% of jobs and nearly 50% of Nigeria’s GDP.
The movement is sized at over 40 million in Nigeria and there is a large group of MSMEs with growth barriers and several other limiting factors.
The CBN MSME Development Fund established with a share capital of N220 billion in 2013 further limits MSME funding to certain categories. Eligible MSMEs under the CBN Development Fund are those that fall in these business sectors:
- Agricultural value chain activities
- Cottage Industries
- Artisans
- Commerce
- Renewable energy/energy efficient product and technologies
- Trade and general commerce
- Other economic activity as may be prescribed by the CBN
These criterion leaves out millions of MSMEs to solely seek funding and growth solution. It became necessary to carry out an evaluation of MSMEs in Nigeria to be able to unlock potential solutions to their impediments.
- World Food Programme, WFP concerned about food security in Nigeria in 2021
- New Google programme to support innovation in Africa, female entrepreneurship in TEF
- The SEC proposed rules on Robo-Advisors in Nigeria
- Africa Business Heroes, ABH new deadline for 2021 applications
MSME day 2021 – how to join and support MSMEs
- Join online MSME webinars and events where they assess MSMEs issue and share related topics.
- Investing in MSMEs is a great way to be a shareholder in growing businesses.
- Patronize MSMEs and growing business to establish their brands.
- Engage with MSMEs to find out if their service needs aid.
- Collaborate with MSMEs.
MSMEs play a pivotal role in economic growth and acceleration. The United Nations General Assembly declared 27 June to be Micro, Small and Medium-sized Enterprises Day, in 2017 as part of its Sustainable Development Goals (SDGs).