Governor Gboyega Oyetola of Osun State yesterday inaugurated a 17-member Council on Micro, Small and Medium Enterprises (MSMEs) to coordinate and drive development of the state’s economy. The governor, who was represented by the Secretary to the State Government, Mr. Wole Oyebamiji, tasked the inaugurated members on the critical assignment given to them. The governor said that government would be facilitating access to financial support for MSMEs in the state through Ministry of Commerce, Industry, Cooperative and Empowerment.
He, however, commended the Federal Government and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) for pushing for a robust MSMEs programme by facilitating and sustaining a vibrant MSMEs sub-sector in the country. He said that such efforts would lead to springing of strong businesses that would meet local demands for goods and services, earn foreign exchange through exports and also create jobs for the unemployed youth.
Oyetola said: “If you execute the assignment well, it will impact significantly on MSMEs in the state and position small businesses for increased productivity and better contributions to the economy. “MSMEs constitute important components of our national economy.
“According to the National Bureau of Statistics, MSMEs have contributed about 48 per cent of the National Gross Domestic Products in the last five years, accounting for 96 percent of businesses and 48 percent of employment. “These, undoubtedly, are very staggering facts and it speaks to the reality of MSMEs, being the backbone of our economy, with limitless capacity to do much more, if properly supported.”