SMEDAN Advocates Database For Small, Medium Businesses
Nigerian Market Photo: gtbank

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has called for the creation of a database for Micro Small and Medium Enterprises (MSMEs).

Chairman of SMEDAN Femi Pedro noted this recently in Abuja where he added that lack of reliable data and statistics in the formal and informal MSMEs.

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According to Pedro, “When we train MSMEs, we need to give them a unique identification number that will enable SMEDAN to track their activities and collect up-to-date information.

“According to a SMEDAN/NBS survey, there are over 37 million MSMEs in the country and they are known to have contributed well over 59 million jobs, representing over 84 per cent of the total labour force.

“The sub-sector’s contribution to GDP in nominal terms is said to be 48.47 per cent, contributing 7.27 per cent to export.”

He added that, “While SMEDAN was deliberately established to midwife the sustainable and efficient structure, poor funding of this critical sub-sector, as an institution, is beset with several challenges which have impacted service delivery.”