Delta to promulgate law for sustainability of MSME

Delta Government said on Wednesday that it would promulgate a law that would ensure the sustainability of Micro, Small and Medium Enterprise (MSME) programme in the state.

The state governor, Dr Emmanuel Uduaghan, made the assertion in an interview with the News Agency of Nigeria (NAN) in Abuja.

Uduaghan said that a Bill for the proposed law had already been sent to the state’s House of Assembly.

He explained that the proposed law was part of efforts by the government to get a legal framework and institutions that would sustain the various small businesses that had helped to grow the economy of the state.

“I have already sent a bill to the House, once they pass it, I will sign it and no matter who is there, whether it is me or another governor, the programme has to go on.

“We have various aspects of the bill that will ensure sustainability; so, if you don’t do what the law says, you are breaking the law,’’ he said.

The governor said that those who had benefited from the MSME funds in the state had expanded their businesses, adding that the scheme had also helped in creating jobs.

He added that most of the beneficiaries had moved from micro businesses to small and medium scale cadres, citing Akanu Plantain Farms as example.

“Today, you can see his products in big shops like Shoprite and all over the world and that gives us a lot of encouragement,” he said.

N500 million was given to Delta at the launch of the disbursement of the N220 billion MSME fund of the Central Bank of Nigeria (CBN) by President Goodluck Jonathan on Tuesday.

The state was given the money for its “excellent” performance in its micro credit scheme, which it had sustained over the years and had won awards from the CBN for the effort.

Commenting on the fund, Uduaghan said “the fund is going to go to the micro finance programme that is already on.

“There are many aspects of micro finance programme in the state; we have the agricultural, manufacturing, trading and others.

“We are going to incorporate more people. As at now, we are using 66 per cent of the fund for women.

“We think we can move higher because somehow, women are more dependable in managing this small fund.’’

NAN