Economic integration

SMEDAN to leverage D-8 region for economic integration and trade linkages – Business – The Guardian Nigeria News – Nigeria and World News

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is committed to leveraging partnerships within the D-8 to promote, encourage, advance and support MSME activities at the national level as well as in the D-8 region to further strengthen economic, trade and commercial integration and ties.

D8, also called Developing-8, is an international organization specifically created for development cooperation between countries like Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

SMEDAN Managing Director Olawale Fasanya said that with a D-8 Center proposal already submitted, the agency is optimistic that the establishment of the D-8 Center for Small and Medium Enterprises (SMEs) will trigger substantial development impacts. .

Fasanya also pledged to work with key stakeholders to bring about a positive change in the narrative of micro, small and medium enterprise (MSME) development in Nigeria, given its critical but highly threatened status in the economy.

Fasanya made the remarks during an interactive session with the Guild of Corporate Online Editors (Gocop) and publishers, where he shared his vision and approach to ensure regular cross-agency cooperation and networking with stakeholders to take advantage of available opportunities to bridge gaps between key players. in the MSME space.

Underscoring the importance of the subsector for national economic growth and the many challenges that the COVID-19 pandemic and the ongoing Ukraine-Russia have further aggravated, Fasanya said challenges for MSMEs are generally related to the access to finance, market, equipment, information. , technical and entrepreneurial skills and workspace.

Unveiling his vision for the sub-sector, he said he had already begun to engage with agency staff and other MSME enablers, in an ongoing exercise both locally than international.

“I will be meeting with some key stakeholders in Lagos to enable me to source inputs directly from genuine MSME players. I am however aware that they were consulted during the national policy review process, but the MSME space is very dynamic and requires regular engagement and feedback. »

Fasanya noted that there were programs and projects within the agency that were carefully designed to address some of the challenges of MSMEs “but it became necessary to start looking at them based on feedback that these commitments MSMEs will give us”.

He said “part of what we hope to accomplish during my tenure is to ensure that I have a capable, competent, skilled and healthy workforce. In this regard, I have requested the appropriate department to set up specific training to fill the gaps identified among the staff.