MSMEs Need Right Incentives to Ensure Conformity to Standards – SMEDAN

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Enterprise Television – MSMEs Need Right Incentives to Ensure Conformity to Standards – SMEDAN

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has said Micro Small and Medium Enterprises (MSMEs) need policymakers to give them the right incentives to ensure conformity to standards.

The Director-General of SMEDAN, Dikko Umaru Radda, stated this at the Nigerian-American Chamber of Commerce (NACC) September Breakfast Meeting held recently.

According to him, the quickest and most effective way to impact the average Nigerian and for Nigeria to achieve the desired economic breakthrough is to devote time, attention and resources to grow the MSMEs sub-sector.

“This sub-sector is the legacy that we will leave behind. It is the future of Nigeria. Most countries across the globe have done this and achieved tremendous results.”

“Collaboration with the private sector increases the chance that regulation and implementation are business-friendly.

“Note that support measures can promote one sector over the other whether internationally or not.

“These include investment decisions regarding technical infrastructure, setting up a laboratory to test food additives, a crash testing institute for vehicles or a financial sector regulatory institution, involve different types of expertise.” Radda stated.