Ogun To Establish Agency For MSMEs Sustainability - EDU-BIZNEWS


Thursday, September 29, 2022

Ogun To Establish Agency For MSMEs Sustainability

Ogun State Government is perfecting a bill for establishment of the State Enterprise Development Agency (OGSEDA), that will develop sustainable Micro, Small and Medium Enterprises (MSMEs), to aid business growth and enhance competitiveness.

Governor Dapo Abiodun revealed this in Abeokuta, during a two-Day public-private discussion on the establishment of the Agency, explaining that the government had entered into a partnership with the German Agency for Development (GIZ), to set it up before the end of the year.

Abiodun who was by the Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, added that the setting up of the agency would  make it easy for the state to  further consolidate on the gains recorded through the Executive order  signed in 2019 for the establishment of the Agency.

Abiodun explained that the main focus of the Agency would be in four areas which include, business advisory on bankable feasibility, business mentorship and others, capacity building and outreach, facilitating access to finance and policy advocacy.

He said, “OGSEDA, when established will help in repositioning the MSMEs sub-sector to contribute towards an all-round socio-economic development of the State, by improving the standard of living of the citizens through job and wealth creation, increase the Gross Domestic Product (GDP) and boost the State’s revenue”.

Also speaking, Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe stated that OGSEDA would aid the growth of MSMEs through capacity building, position MSMEs to access funds, provide market linkages and encourage more people to start their businesses.

In his contribution, the Deputy Chairman, House Committee on Industry, Trade and Investment, Hon. Shola Adams assured that the House of Assembly would expedite action on the passage of OGSEDA Bill into Law, as well as ensure that members of the public were allowed to air their views on the Bill.

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