Nasarawa state government has restated its commitment to strengthen the Micro, Small and Medium Entreprises (MSMEs) sub-sector as part of its economic development strategy.
The Managing Director and Chief Executive Officer (MD/CEO) of the state Investment Agency, Ibrahim Abdullahi, stated this on Friday in Lafia, during the presentation of cheques to the three winners of the MSME challenge at the just concluded inaugural Nasarawa Investment summit.
He said that apart from the 10,000 USD prize monies, the agency will provide non-financial support centering on advisory, training and networking which are core to the growth of small businesses.
The MSME challenge organized by the agency is a pilot project that the state hopes to use to encourage the formation of new enterprises and support existing ones extend their service offerings, in keeping with its economic development plan.
He explained that “This is a pilot project, the government hopes to replicate this project. This is one way we feel we can effectively reach out to businesses that impact on the economy of the state.”
The first and second place winners Tasiu Kwaplong and Ahmad Hamza from Maina rice, appreciated the initiative and want it broadened to encompass other businesses.
The first, second and third places received 5,000, 3,000 and 2,000 USD respectively.