Minister of Industry, Trade and Investment, Dr Olusegun Aganga said that the federal government has attracted over $20 billion worth of investments within the last three years, thus making the country the greatest investment place in Africa.
Aganga who disclosed this during the public presentation of the new national policy on MSMEs and the unveiling of the results of the 2013 national MSMEs survey in Abuja, said that any state or local government that intends to grow cannot ignore MSMEs.
He said, “We are no more resting on our oars on non-oil sector as Nigeria is moving away from oil but focusing on manufacturing”.
According to him, the inauguration of the one million seedling sugarcane bio–factory in Ahmadu Bello University, Zaria which would produce one million seedlings per annum capacity was the first in the series of bio factories to be established within the next five years, with combined capacity estimated at 112.5 million cane seedlings per annual.
The minister, who called on the incoming government to continue from where the Jonathan administration has stopped in the ministry disclosed that the National Automotive Council, NAC would create 4,500 jobs, stated that cement is now produced and exported to other countries.
Aganga explained that $14 billion were being attracted to the Petroleum Industry adding that soon queuing would disappear when the money would have been properly invested adding that ques were as a result of bad policies.
Earlier, the Director General of Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Alhaji Bature Umar Masari said the agency had in 2010 discovered 17.3 millions MSMEs, employing about 32.4 million persons and contributing about 46.54 percent to gross domestic products, GDP in nominal terms.
According to Masari, this was discovered by the agency in collaboration with the National Bureau of Statistics, NBS during a national MSMEs survey conducted in 2010.
“In 2014 the agency with the NBS conducted another national MSMES survey which revealed that 59.9 percent of the MSMES have no business plans, no accountability and are not registered among other problems,” he said.
Masari disclosed that the agency has been implementing the National Enterprise Development Programme, NEDEP under the One Local Government One Product Programme, OLOP in partnership with other ministries, departments and agencies, MDAs and private sector institutions across the country with the aim of generating one million jobs annually.
The first national policy on MSMEs, the director general said was developed by the agencies in collaboration with the African Institute of Applied Economics, AIAE; United Nations Development Programme, UNDP and other relevant stakeholders in 2007.
He stated that the policy was approved by the Federal Executive Council, FEC and officially launched in 2007.
“It is worthy of note that the policy provides, under section 5.6 for its review after 4 years of implementation it has been implemented for about seven years and needed to be renewed and updated. Consequently a detailed renew process was put in place,” he stressed.
The SMEDAN boss maintained that the national policy on MSMEs and the results of the 2013 national MSMEs survey would no doubt provide a veritable platform for the planning, implementation, monitoring and evaluating development programmes with the sub sector in Nigeria.

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