Breaking News FG Looks for a Partnership to Help Fund MSMEs

The Minister of State for Industry, Trade and Investment, Amb. Maryam Yalwaji Katagum, has called for partnership with private and public sectors to make funds…

The Minister of State for Industry, Trade and Investment, Amb. Maryam Yalwaji Katagum, has called for partnership with private and public sectors to make funds accessible through microfinance institutions for Micro, Small and Medium Enterprises (MSMEs).

Speaking during a visit by members of Union Bank of Nigeria Plc. led by the Managing Director/ Chief Executive Officer, Mr Mudassir Amray, in Abuja, the minister said banks need to collaborate with the Industrial Training Fund in area of skill acquisition for MSMEs

She said banks should include e-commerce and financial inclusion in their operations.

She added that the government’s shift to the non-oil sector is a smart step in the right direction for the growth of the nation’s economy.

She explained that the federal government’s interest in moving away from the oil and gas to non-oil sector was the smart step while more partnerships and resources should be deployed towards that direction

Earlier, Amray stated that the purpose of their visit was to seek the support of the ministry and its agencies to provide them with insights on areas of collaboration.

Meanwhile, the government also restated its commitment in ensuring necessary support is provided for the implementation of the African Continental Free Trade Area Agreement (AfCFTA).

Katagum, during a meeting with the Ambassador of Ireland to Nigeria, Peter Ryan, described Nigeria as a very strategic country in the implementation of AfCFTA and the government is committed to providing necessary support for Nigerian businesses to participate meaningfully.

She highlighted various policies and programmes such as the formulation of trade policy, investment policy, auto policy among others, put in place by her ministry to facilitate bilateral trade and investments in the country.

The minister added that the ministry through the Nigerian Export Promotion Council (NEPC) has also set up trade houses in Cairo, Egypt; Nairobi, Kenya and other parts of the world to improve non-oil exports.