Lagos State Government has expressed its readiness to partner with the Small and Medium Enterprises Development Agency (SMEDAN) for the initiation of policies and co-creation of programmes that would grow the Micro, Small and Medium Enterprise (MSME) sector in the State.
Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs. Folashade Ambrose-Medebem gave the commitment during an interactive meeting with the representatives of SMEDAN at the Ministry recently.
Speaking during the meeting, the Commissioner described SMEDAN, a Federal Government agency, as a critical organisation needed by the State for collaboration to develop the MSME sector.
Her words: “The administration has a very short time and the Ministry needs to quickly start working with major stakeholders to fast track the delivery of the mandate to achieve a 21st Century Economy, in line with the THEMES Plus Development Agenda of Governor Babajide Sanwo-Olu. The collaboration with SMEDAN will enable the State to charge forward in its drive to support the sector, particularly as the Ministry is striving to do things differently with a courageous and audacious approach to achieve its goals”.
Ambrose-Medebem emphasised that the Ministry is working on key points with which it will engage Micro, Small and Medium Enterprises, while it is also developing a database on them, describing the project as a work in progress.
“The Sanwo-Olu’s administration is giving serious attention to MSMEs and we need strong partners and correct data to accomplish our plan. Our Ministry is currently ramping up efforts towards strengthening industrial growth, trade promotion, increased investment inflow and economic development and we are also prioritising the youths in our programmes.
She called for the setting up of a joint committee between the Ministry and SMEDAN to work on all possible areas of collaboration on MSME development.
The State Manager of SMEDAN, Mr. Bunmi Kole-Dawodu described the interaction with the Ministry as an important avenue for conversation on what the Ministry and the Agency can do together for MSMEs, particularly on the national policy on MSMEs due for review in 2025.
“Lagos needs to be prepared to make robust input in the interest of over three million MSMEs in the State. It also must be intentional about reviewing the document, particularly regarding the inclusion of thematic areas covering tech-enabled and non-tech-enabled enterprises. This is why the Ministry and SMEDAN need to synergise on the policy document and the values that can be added to accelerate the growth and contributions of MSMEs to the State and national economy,” he said.
Kole-Dawodu further suggested that the Ministry and SMEDAN should explore programmes they can both co-create to empower micro, small and medium business owners. While informing about SMEDAN’s collaboration with Sterling Bank Plc on the development of data on MSMEs, he proposed the joint running of the Secretariat of the National Council on MSMEs by the Ministry and SMEDAN for inclusiveness.