Kogi State Governor Alhaji Yahaya Bello has promised to create over 500,000 new businesses in the state before the expiration of his tenure in 2024.
Bello made the promise on Wednesday in commemoration of the maiden edition of international, Micro Small and Medium Enterprise, (MSME) day with the theme, “MSME Growth: A strategic tool for Economic Development”held at glass house in Lokoja.
The Governor who said this will be achieved through inovativness explained that MSME account for 90 per cent of businesses, 60-70 per cent of employment and 50 per cent of Gross Domestic Product, (GDP) worldwide.
He said MSME growth is a strategic tool for economic development, adding that, the theme of the event
MSME Growth: A strategic tool for Economic Development” properly reflect the importance of the sector.
Bello stressed that, MSME contribute to both local and national economy, adding that, they also help to sustain livelihood especially for the poor, Women, Youths, and other vulnerable People.
Bello recalled that when he took office as the 4th Executive Governor of Kogi State in January 2016, the state did not have much MSME eco-system, or a dedicated agency like the Kogi State Enterprise Development Agency, (KEDA).
According to him, the agency was created to coordinate their immediate and long term needs, stressing that, Kogi state needed an outlet to engage and empower teaming youthful population.
He maintained that MSME remains the major drivers for economic growth especially a none industralized and developing society.
” I made it one of my pre occupation to create an agency through which we could encourage entrepreneurship and ultimately build a strong MSME in our State. This is why the 4th out of the five key thematic area of our new direction blueprint is to build in engagement of new ventures creation”.
He however lamented that, for a very long time, people have depend on government as the drivers of the economy which has led to the over bloating of the workforce.
“This is why our workforce is over bloated. The government is confronted with the payment of salaries, pensions, and gratuities, of entitlement of 80,000 workers in the Civil Service both at State and Local Government. The sad thing is that we will need to deploy over 80 percent of gross government income each to pay this numbers of persons yet they constitute less than eight percent of our population of 4.5million people” he aaid
He said this is unsustainable hence in a bid to less the burden of reliance on government for wages, his administration believes the quickest way in achieving this is through entrepreneurship, new venture creation, which is primarily MSME.
He said no matter what they have, the government can not absolve more than 10,000 new workers irrespective of how many retired from service adding that, empowering the People through entrepreneurship remains the best way at reducing depency on Government through wages.
The Governor, however, commended the CEO of KEDA for her relentless effort in ensuring the success of the programme in Kogi State.
He said KEDA mandate is critical to the economic development of generations in Kogi state.
According to him, KEDA must improve the pace of their activities by bringing existing businesses and government in collaboration by bringing new entrepreneurs to explore in the state.
Earlier in her remarks, the Managing Director/CEO, Kogi State Enterprise Development Agency, (KEDA) Hajia Rekiya Onaivo Sanni said MSMEs has contributed enormously to job creation, income generation, trade and inclusive growth.
She noted that despite efforts to stimulate the business environment, a lot still needs to be done to make MSMEs reach their full potential.
“It is against this backdrop that KEDA Is taking the step further by initiating Kogi MSME Workshop, which is expected to set in motion Kogi MSME Clinic – one of the strategies for making it easier to do business in Kogi State and increase revenue while decreasing unemployment.
” This project is expected to bring together businesses and government agencies to a series of business forums where MSMEs can interact and access opportunities for growth.
“This is in addition to some of the initiatives that the Yayaha Bello administration has put in place to stimulate and enhance business growth in Kogi State. Some of which have started yielding great results.
” We are indeed grateful for the opportunity to be at the forefront of these initiatives. Part of our ongoing projects is the KG-CARES (COVID-19 Action Recovery and Economic Stimulus)”
She posited that, KEDA is implementing Result Area 3, which seeks to mitigate the local effects of the COVID-19 pandemic in Kogi State by supporting the recovery of local economic activities especially among Micro and Small Enterprises (MSEs).
According to her, As an agency, we will continue to provide productive interfaces and technical support for entrepreneurs in Kogi State to be fully equipped with the necessary skills and expertise to compete in the business environment even at global level. I urge you all to consider this workshop as the contribution of the State Government to support enterprenuers in the State and boost your businesses”.
Highpoint of the event included unveiling of MSME’s clinic by Governor Yahaya Bello and exhibition of different entrepreneurship skills in Kogi State.
The Kogi Stare Government has however, adopted July 13 every year to commemorate world MSME day