The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has been urged to intervene in the creation of jobs for its over 70 youthful population.
The Asagba of Asaba, His Royal Majesty, Prof Epiphany Azinge, SAN, OON; made the call in Abuja when he visited the Director General of SMEDAN, Charles Odii.
He said he was desirous of seeing the youths meaningfully engaged, as allowing them to roam the streets was like a time bomb waiting to explode.
The forward-thinking Monarch pointed out that he was aiming at creating 1000 jobs for the active population, which comprised of highly educated and skilled young men and women, who could contribute meaningfully to the growth and development of the community and the society at large.
His Royal Majesty spoke on plans to meet with notable captains of industry in the country with a view to attracting investment to Asaba, describing the capital city as very peaceful, safe and investment-friendly.
He commended the SMEDAN DG for the great work he was doing to grow and strengthen Small and Medium Enterprises in the country, which he identified as critical stakeholders in the economy, noting that Odii’s appointment represented a “square peg in a square hole”.
The Asagba, who undertook a tour of the Agency’s facilities, pledged the support and cooperation of the Asaba community for efforts that would help to create the envisioned jobs, including the provision of land for investment, and urged the SMEDAN helmsman to put his kingdom in the front burner of his work plan.
Earlier in his remarks, the SMEDAN DG, Charles Odii; told Asagba Prof Azinge that the core mandate of the Agency centred on promoting and facilitating the development of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria by providing support services like business development, financial services, and capacity building.
Odii added that SMEDAN was also charged with initiating and articulating policies for MSME growth, collaborating with stakeholders to promote MSME development, and serving as a vanguard for rural industrialization, poverty reduction, and job creation.
He disclosed that ₦200 billion had been earmarked for MSMEs by the Federal Government, out of which ₦12 billion had been mobilized through partnerships with public and private institutions, explaining that the Agency was already working on plans to expand access to finance through the provision of affordable financing options, with a goal of reaching over 3 million SMEs across the country.
The DG further stated that the Agency was working with state governments and the FCT to implement matching fund programs to support MSMEs, pointing out that ₦1 billion had been domiciled in the Bank of Industry for MSMEs in Delta, and would be loaned out at a single-digit interest rate.
Odii said the initiative aligned with the 1000 jobs envisioned by the Asagba and called on the people of Asaba, especially the youths, to take advantage of the fund to start their own businesses.
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