The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has signed a Memorandum of Understanding, (MoU) with the Nigeria Export and Import Bank (NEXIM) to enable MSMEs benefit from the African Growth and Opportunity Act (AGOA).
The signing ceremony took place on the sidelines of the Exporter Enlightenment Forum for North West Zone held in Katsina State on Monday, a statement said yesterday.
The MoU would see SMEDAN providing entrepreneurship trainings and capacity building for exporters while NEXIM would provide the funding.
In the statement, the Director General of SMEDAN Dr. Dikko Umaru Radda, said the signing of the MoU was a demonstration of the agency’s desire to promote synergy among agencies of government and expressed hope that the MOU would be beneficial to MSMEs considering the fact that the present administration is focusing on non-oil export which will soon drive the economy of the country.
In a paper titled ‘Repositioning MSMEs for Sustainable Growth in Non-oil Exports’, Dr. Radda stated that Nigeria’s economy was quite diverse prior to the discovery of oil but that presently the nation depends on earnings from crude and gas exports.
He stated that the National Bureau for Statistics 2013 survey reports have revealed that only 1-12 per cent of over 37 million MSMEs are involved in some form of exports.
Dr. Radda said there was an urgent need for synergy and collaboration among enabling ministries, departments and agencies to promote and develop MSMEs in the country.