The Federal Government has inaugurated the Council on Micro, Small, and Medium Enterprises (MSMEs), and urged its members to utilize technology and their expertise to enhance the sector’s growth.

A statement by the Senior Special Assistant to the President on Media and Communications, Office of The Vice President, Stanley Nkwocha said, the Vice President, Sen. Kashim Shettima inaugurated the Council on Friday in Abuja. 

While emphasising President Bola Tinubu’s unwavering commitment to improving job security, VP Shettima highlighted the critical role of MSMEs and younger Nigerians in driving job creation and economic stimulation.

“This Council has a pivotal role to play in rekindling hope in the Nigerian project. President Tinubu is irrevocably committed to addressing the job security situation, especially within the MSMEs and the younger population,” he said.

Recognizing the potential of technology, VP Shettima urged members to leverage its power to streamline processes and enhance service delivery.

“Ease of doing business should be our watchword. Technology must be embraced and applied across the board.”

The Council’s mandate includes formulating policies to drive MSME development, fostering public-private partnerships, and promoting inter-agency collaboration.

Members of the newly inaugurated Council include the Vice President (Chairman); Minister of Industry, Trade, and Investment (Vice Chairman); 2 Governors from each of the 6 geo-political zones; Ministers of Agriculture, Innovation, Science and Technology, and Communication, Innovation and Digital Economy; the Senior Special Assistant to the President on Job Creation and MSMEs; a representative of the Private Sector; and the Director General of SMEDAN (Secretary).

The National Council on MSMEs is a high-level body established to provide strategic direction and oversight for the development of the MSME sector in Nigeria. The Council is chaired by the Vice President and comprises key stakeholders from government, industry, and the private sector.