World MSMES Day: SEEDI seeks better funding for sector

The Sustainable Entrepreneurship and Economic Development Initiative (SEEDI) at the commemoration of World Micro Small and Medium Enterprise Day (MSMEs) has called on the Federal Government and other stakeholders to address concerns confronting the sector.
Some of the concerns th‎e group raised confronting the sector include near absence of non-financial services for MSMEs, continued bottlenecks in accessing government sponsored financial interventions.
Celestine Okeke, lead partner of SEEDI, said in a statement on Tuesday that the Federal Government must be determined to confront the problems impeding the sector, to improve the economy.
In the statement, the lead partner said the Federal Government must ensure the MSMEs were allowed access to quality farm inputs and seed for smallholder farmers and provide support for smallholder farmers to address concerns of low yield.
‎According to records, Nigeria has about 37 million MSMEs, while contributing up to 90 percent to Nigeria’s Gross Domestic Product (GDP).
In the light of the recent rating of Nigeria as the country with the number of extremely poor persons in the world and the projection that by 2050, Nigeria will be the third most populated country in the world, economic watchers also suggested to the Federal Government to adopt improved approaches to helping small businesses better manage their challenges, while contribute maximally to economic growth and job creation.