The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has flagged off its Conditional Grant Scheme (CGS) to small business owners in Anambra State.
Some 270 persons selected from the 21 local government areas of the state are expected to benefit from the scheme in the state.
The Scheme was launched at the Virgin Dam Etiaba Multipurpose Hall Nnewi, by the Director General (DG) of the agency, said the federal government introduced the scheme to help people in the micro enterprises sub sector to create employment more than the other sub sectors of the economy.
Correspondent Bamidele Ajayi reports that according to the commission, the National MSMEs data shows that there are about 27,261,753 micro enterprises in 2015 representing 99.80 percent and 46,994,578 representing 99.87 percent in 2018.
The Director General represented by the Director Planning and research, Olawale Fasanya disclosed that, the subsector employed 15,641,460 in 2015 representing 90.41 percent of the total people employed added that, the sector also employed 57,836,391 in 2018 representing 96.88 percent of the total number of people employed.
The commission notes that, the micro enterprises sector being informal and being run by people at the bottom of the pyramid, prompted SMEDAN to conceptualise a flagship programme of Conditional Grant Scheme for micro enterprises.
Speaking at the flag off, the representative of the Governor of Anambra state, Daniel Okoli who is the permanent secretary Anambra state ministry of Trade, Commerce and Wealth Creation, commended SMEDAN for including the state as one of the states that benefit in the national MSMEs scheme, he urged the beneficiaries to make good use of the grant and Knowledge provided at the training to grow their small scale businesses.
Some of the participants drawn from the 179 communities of Anambra state praised the Federal Government initiative, call for its sustenance to
enable them be aware of what is required of them to contribute their quota to the development of the nation’s economic.
The Conditional Grant Scheme was set up to promote activities of micro enterprises across the country in the areas of capacity building and the
delivery of post-intervention support services such as access to finance (conditional grants), markets, workspace, technology.
The scheme is a special entrepreneurship/vocational development intervention for entrepreneurs based on the need to graduate informal
enterprises to the formal sector, industrialize the nation, develop the rural economy, stem youth restiveness and unemployment and create the
platform for sustainable economic growth and development in Nigeria.