Small and Medium Enterprise development Agency of Nigeria (SMEDAN) and Hudson group have made a pledge to create six million jobs in three years in the country.

This was made known by the Vice President, Hudson Group, Tom Iseghohi who is also the chairman Steering Committee, Enterprise Development Solutions Initiative, in a workshop with the theme: Enterprise development solution in Nigeria held on Monday in Lagos.

The strategy aims to create $3.5 billion of value here in Nigeria.

Speaking at the workshop, the Director General of SMEDAN, Dr. Dikko Umaru Radda, who was represented by the Director, Enterprise development, SMEDAN, Dr. Wale Fasanya said there are 37.67 million Micro Small and Medium Enterprises in Nigeria, adding that the MSME creates 59 percent jobs in Nigeria.

He listed problems affecting the MSME to include poor access to usable funds, capital, marketing products, transportation, communication, infrastructural problems and inability to build capacity.

He however revealed that MSME Act will soon be passed into law, adding that credit information portal will be available for prospective funds seekers so that MSME will soon be able to secure loans without collateral.

The DG further stated that the group is working on data to access market linkages

With businesses, also equipment linkages and creating incubation centres in industrial development centres for the youth going into SMEs.

Also speaking in the same vein, the Commissioner for Information, Akwa Ibom State , Charles Udoh, who represented the state government said the state has engaged in enterprise development initiatives such as  building a 7,000 kilometer road, building a second run way for Akwa Ibom Air Port, which is almost at completion stage, building a took pick factory that has commenced production, and building a pencil factory in the state.

Others are Syringe factory that will commence production in the next two months and engaging in Agric revolution that will bring down the prices of food items.

However, the CEO ME Consulting, Victor Eromosele said Nigeria has to start exportation of products and services in order to bring down the exchange rate.

He maintained that borrowing will not solve the problem rather exportation of other products will solve the problem of exchange rate in the country.


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