An expert has called on the Government at all levels to ensure easy access to grant and single-digit loan as part of its support to the Micro, Small and Medium-scale Enterprises (MSMEs) in the Country
This, he said, will boost local business and enhace the Nigerian economic growth and development, having focused on the live wire of the economy – the Micro, Small and Medium-scale Enterprises (MSMEs).
The call was made by Taobat Odedina, who is the founder of Eyinimofe World, a food firm specialised in the production and marketing of dried, peppered meat known as Kilishi.
Odedina highlighted the importance of funding options and grants to support small and medium-sized enterprises (SMEs).
Odedina, who has been in the business for over a decade with over 30 staff serving in Nigeria and internationally, said by strong focus on innovation, empowerment and entrepreneurship, Nigeria is poised to have a significant impact on the food industry.
She said that the food industry being one of the mainstays of the Country’s economy, would do better if there were lifeline coming from grant and flexible loan scheme to stimulate the sector.
She, however, called for the establishment of a supportive regulatory framework that encourages innovation, entrepreneurship and quality control in the food industry sector.
Speaking on the market and supply chain, Odedina appealed to the Government to facilitate vibrant and unhindered access to local and international markets for MSMEs, saying it would enable them to expand their customer base and increase exports.
“At Eyinimofe World and similar businesses, we have participated in a few national trade fairs and exhibitions such as Jaja Hall Expo at UNILAG, among others, and we have a bit seen and experinced the challenges, the opportunities and the prospect.
“We, therefore, propose the following for the Government, especially the provision of accessible funding options and grants to support the Micro, Small and Medium-sized Enterprises (MSMEs) in the food industry.
“Also, the establishment of a supportive regulatory framework that encourages innovation and entrepreneurship in the food sector and facilitation of easy access to the local and international markets for MSMEs. This will enable them to expand customer base and increase exports for more foreign exchange earnings.
“We also want the Federal Government to offer training and capacity-building programmes to equip entrepreneurs with the necessary skills and knowledge to succeed in the industry”, she said.
