MSMEs engines of economic growth -Minister

The Minister of State for Industry, Trade and Investment, Amb. Mariam Yalwaji Katagum, says the Micro, Small and Medium Enterprises (MSMEs) are the engines of economic growth and contribute nearly 50% of the Gross Domestic Product (GDP) and over 80% of employment in Nigeria.

Katagum stated this in Abuja during the 50th anniversary of the Standard Organization of Nigeria (SON).

She said it activities, especially through the MANCAP scheme, have contributed immensely to the increased acceptability of Nigerian made products in the international market, which is one of the achievements of this Administration.

“The role of SON in achieving this is obvious as the assurance of adherence to internationally accepted standards, which SON ensures, will eliminate technical barriers to trade, making our products more competitive.

“​In acknowledgement of its consistent implementation of reforms aimed at making its services more easily accessible to the public, SON has been ranked first in the Ease of Doing Business by the Presidential Enabling Business Environment Council (PEBEC).

“The accomplishments of SON, over the past 50 years, could not have been possible without the strong support of successive governments especially the various Ministers of Industry and Trade,” she said.

Also, the Director General of SON, Mallam Farouk Salim, said acknowledging the modest achievements and strides of SON in the last 50 years, said his vision for the organisations in the next 50 years is to be the foremost standardization body in Africa and among the top ranking globally.
According to him, while this vision is achievable, the Organisation will need to surmount severe challenges such as political, changes in Government policies like the often removing the of Organization at points of entry amongst others .

He said to meet the expected challenges, there is need to evolve as a dynamic and innovative body investing in the following critical areas Efficient workforce with the required skill set, cutting edge technology, appropriate and strategic infrastructure and enhanced meaningful collaboration with stakeholders.