Connect with us

Economy

NASSI partners Centre for International Private Enterprise to boost MSMEs in Nigeria  

Published

on

The Nigerian Association of Small Scale Industrialists (NASSI), says it is partnering with the Centre for International Private Enterprise (CIPE), U.S.A to improve Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

Chief Solomon Vongfa, NASSI National President, told the Nigeria News Agency on Monday in Abuja that the partnership was to encourage international best practice.

Vongfa told NAN that the partnership with CIPE became necessary due to the challenges being faced by the association as well as the zeal to propel MSMEs to be effective and well grounded.

“Due to some lapses discovered in the management of the association, we sought for help through the CIPE, U.S.A and it intervened by sending its consultants to drill the association on good governance,’’ he said.

The national president said that based on that, CIPE recently held a Diagnostic Meeting with NASSI aimed at studying the association to overhaul its operation.

He said that based on that diagnostic meeting, there was an outcome of action plan that would run for three years for the association based on the questioneers CIPE rendered.

“The diagnostic meeting revealed certain areas in which the management of the association has problems. As part of its strategic plan, CIPE has to redo our statutory plan to suit international best practice, the implementation would start mid September,’’ he noted.

Vongfa, however, called on the National Executive Committee members of NASSI who were the statutory body to give necessary corrections and approve the outcome of the meeting for implementation.

Vongfa recalled that the MSMEs survey carried out in 2017 showed that the MSMEs recorded about 41 million entrepreneurs in the country.

He said that the survey was carried out by its regulatory agency, Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in collaboration with the Nigerian Bureau of Statistics (NBS).

The national president added that the survey revealed that among the 41 million MSMEs recorded, about 37 million were micro and the smaller level.

“This is to show that majority of people doing business in Nigeria based on the survey are at micro level which is the centre of our own sector,” he said.

Describing NASSI as the bedrock of the MSMEs in the country, he decried the challenges bedevilling it, which included lack of funds which also affected its growth.

“Government should take it very serious and intervene by injecting more funds into the MSMEs, people are willing to take loan and pay back, the major issue is recovering the loans.

“When you have Business Management Organisations (BMOs) behind any disbursement, you will recover the loan effectively.

“If there are sufficient funding, there will be more job creation and poverty reduction, it goes simultaneously,” he added.

Speaking on the African Continental Free Trade Area (AfCFTA)  agreement, he said that initially NASSI was not fully prepared for it but with the recent intervention by CIPE and the numerous benefit of the agreement, NASSI must be part of it.

“We are also encouraging government to support by providing  machines and equipment that can improve production and quality of products to boost competitiveness. That is the key to implementing the AfCFTA agreement.

“Why we cannot be very competitive with the global issue is the problem of finishing of the products of some of our members which is very poor, if the packaging is not sophisticated it will not move the pmarket.

“Packaging is one of the outcomes from the CIPE diagnostic meeting because you have to catch the eye for patronage.

“We are taking our advocacy to government, you cannot do a policy that will favour only the conglomerate or the big companies while we the major sector of the economy suffer it most.

“If we cannot compete due to lack of support and fund, the AfCFTA agreement will be a disadvantage to us but if this understanding is there, it will help us,” he said.

NASSI which has its mandate to drive and promote MSMEs in the country has been established for more than 40 years, it has offices in all states of the federation including the FCT.

NAN reports that CIPE seeks to strengthen democracy around the globe through private enterprise and market-oriented reform.

Edited by Ese E. Ekama

Economy

FMDQ explains name change, says not out to compete with NSE

Published

on

Continue Reading

Economy

14 ships arrive Lagos ports with petrol, other products

Published

on

A total of 14 ships carrying various products are at Apapa and Tin-Can Island Ports waiting to berth, the Nigerian Ports Authority (NPA) has said in its daily publications on Saturday in Lagos.

It said five of the vessels contained petrol, while the remaining nine ships would berth with container and general cargo.

The NPA also stated that 22 ships that were carrying containers, general cargo, buckwheat and frozen fish, bulk sugar, bulk salt, bade oil, were expected at the ports between Aug. 17 and Sept. 4.

NPA said that “16 ships are presently discharging buckwheat, butane, vehicles, steel products, diesel, petrol, general cargo, container, frozen fish and bulk sugar.’’

Continue Reading

Economy

ICPC ex-chair takes over Salaries and Wages Commission

Published

on

Mr Ekpo Nta, the former Chairman, Independent Corrupt Practices and Other Offences Commission (ICPC), has taken over the leadership of the National Salaries, Income and Wages Commission (NSIWC).

The Chief Press Secretary of the Commission, Mr Emma Njoku made this known in a statement on Saturday in Abuja.

According to Njoku, the Chairman of the Commission, Chief Richard Egbule handed over to Nta, who is also the Commissioner for Compensation at the NSIWC, after the completion of his statutory 10 years tenure.

Egbule, while handing over to Ekpo Nta, described his tenure as historic, being the first to complete two terms and the first Chairman as the pioneer staff of the Commission from inception in 1992.

He called on staff of the Commission to get acquainted with the Act establishing the Commission.

This, according to him, will enable them know the enormous contributions and importance of the Commission to the development of the Civil Service and overall welfare of Public Service.

Nta, in his response, commended Egbule for his achievements in streamlining the nation’s salary administration.

The Nigeria News Agency recalls that Egbule started his working career as an Administrative Officer on grade level 08 in the Office of the Head of Civil Service of the Federation and rose to the post of Chief Management Consultant in the same office in 1992.

He became a pioneer staff of the National Salaries, Incomes and Wages Commission in 1992 and worked to structure and builds the Commission with the best professional practice.

In 2006, he was appointed the Secretary to the Commission and on Aug. 17, 2009, former President Umaru Yar’Adua made him the Executive Chairman of the Commission.

He attained 10 years as the Executive Chairman on Aug. 17.

Continue Reading

Economy

Kaduna Govt. to prioritise uncompleted project in 2020 –Commissioner

Published

on

The Kaduna State Government says it will give priority to projects that were unlikely to be completed and paid for in its 2020 budget.

Mr Thomas Gyang, Commissioner, Planning and Budget Commissioner, made this know in the 2020-2022 Multi-Year Budget Call Circular, obtained by the Nigeria News Agency in Kaduna on Saturday.

“Ministries, Departments and Agencies (MDAs) are advised to ensure that all ongoing projects that are unlikely to be completed and paid for in 2019 are captured in their 2020 Budget.

“Where ongoing projects exceed budget ceilings, they should be spread into 2021 and 2022 columns of the Multi-Year Budget.

“New projects are not to be integrated into the 2020 budget except priority projects of utmost importance,” Gyang said.

He also requested all MDAs to be guided by the state Development Plan 2016 to 2020 in coming up with programmes and projects to ensure coherent development across the state.

According to him, the administration will continue to focus on economic development, social welfare, security and justice and good governance.

“In preparing the budget, financial resources will be strictly dedicated to meet the objectives outlined in the State Development Plan as it relates to each sector.

“Therefore, MDAs will focus on delivering the outputs and strategies that will deliver the outcomes specified in the development plan.

“Resources should be allocated starting from the highest priority activities and continuing in sequence down to lower priority activities until the budget ceiling is reached.”

To give room for community participation in the budget process, the commissioner advised the MDAs to engage civil society organisations, community-based organisations and relevant stakeholders in drawing up their budgets.

He, however, stressed that inputs from such engagement should be in line with the aspirations of the state government as contained in the state’s development plan.

He also advised the MDAs against presenting over-ambitious budgets, adding that previous budget implementation rates have provided ample evidence of absorptive capacity issues across MDAs and the revenue generating capacity of the state.

“The government wants to facilitate service delivery which cannot be achieved without appreciable funding due to consistent dependence on statutory allocation from the Federation Account that has been dwindling over the years.

“This underscores the need for the Revenue Generating Agencies to perform maximally for the state to meet the challenging and obviously increasing demands of its citizens.

“To improve revenue generation, Kaduna State Internal Revenue Service is being repositioned alongside the review of revenue laws that governs revenue generation in the state.

“MDAs are, therefore, required to submit realistic and implementable multi-year budget estimates for the 2020 budget, based on the state revenue potentials outlined in the Medium-Term Expenditure Framework 2020 to 2022.”

Gyang directed all MDAs to submit detailed budget proposals to the Planning and Budget Commission by Sept. 17, while budget defence would be held between Sept. 24 and Sept. 29.

FDY/IS

Edited by Ismail Abdulaziz

Continue Reading

Economy

Gov. Akeredolu lauds CBN ‘s  various intervention programmes

Published

on

Gov. Oluwarotimi Akeredolu of Ondo State has commended the Central Bank of Nigeria (CBN) for various intervention programmes that lifted the country out of recession.

Akeredolu stated this on Friday in Akure when he received some  officials of the bank who visited him in his office.

The governor, represented by his Deputy, Mr Agboola Ajayi, said as the manager of the nation’s economy, the apex bank should continue to be steadfast and play active roles in  growing  and rebuilding  the nation’s  economy towards sustainablity.

Akeredolu said the meeting was important because it provided a veritable platform for interaction between the state government and the CBN.

“It offers us the opportunity of gaining first hand information and useful insights on the abounding opportunities within the bank, which the state can explore to better the lots of her citizens,” he said.

Akeredolu noted that the state government would key into the numerous opportunities provided by the CBN such as  the School Feeding programme, which provided employment for food vendors and income for farmers.

He expressed the determination of his government to improve on the already established relationship to open up  the rural economy in the state.

Earlier, the leader of the CBN ‘s delegation, Mr Olumide Aina, urged the state government to improve on the level of its participation in the various intervention programmes of the bank.

Aina later made presentation on various intervention opportunities available in the bank.

 

Continue Reading

© 2019 NNN NEWS NIGERIA. All Rights Reserved.