The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Dr. Dikko Umaru Radda has described the Financial System Strategy, FSS2020 project as a catalyst for National development and its role in strengthening the MSMEs sector will galvanize the nation’s economy. He made this remark during the visit of the Financial System Strategy FSS2020 Project Team led by its Head Project Management Office Mohammed D Suleyman to the Agency’s Corporate Headquarters in Abuja on Wednesday.
The SMEDAN Chief Executive assured the FSS2020 Project team of his support in achieving the objectives of the project which is to develop the Nigerian economy and to make it one of the best in the world by year 2020. He affirmed that the Agency will act positively towards realizing the noble innovations and initiatives of the project with a view to making the MSMEs feel the impact.
“I have from your presentation come to the realization that the FSS2020 has a lot to offer, for the development of MSMEs sub sector in the country, this is a welcome development and am very impressed with this”
Dr. Radda also reminded them that, the major driver for economic growth is wealth and job creation; and assured them that SMEDAN aims to create 1.5 million jobs in the next six months which will be a great step in achieving the core mandate of the Agency.
The SMEDAN Chief Executive further told FSS2020 team that, the major challenges affecting MSMEs sub-sector particularly in Nigeria is lack of synergy between stakeholders and access to finance and restated that the FSS2020 project is a National project whose primary purpose is to develop Nigerian economy and make it one of the best in the world by 2020 “being an initiative of CBN; it affects every sphere of the nations’ life such as pension and mortgage;”.
He therefore commended the FSS2020 Project team for articulating the challenges facing the MSMEs in Nigeria and proffering solutions to them saying what they have done is in tandem with the repositioning strategies of the new leadership of the Agency and charged the FSS2020 Project Team to involve the NOA in sensitization of Nigerians on critical issues such as patronizing Made in Nigeria products.
Earlier, the Head Project Management Office FSS2020, Mohammed D Suleyman briefed the Director General of SMEDAN on the status of the project and admonished that the FSS2020 project should be seen as a national project rather than a CBN initiative.
It is a national project that deals with Pension MSMEs, Insurance and mortgage among others, adding it entails every sphere of life. He said the primary focus of the project is to make the Nigeria economy to be the fastest and the best by 2020,
Suleyman further solicited for a technical officer who will serve as a link between the team and the Agency and thanked the Director General of SMEDAN for his resourcefulness and solicited for continued support for the realization of the FSS 2020 goal.