The Federal Government on Monday in Abuja commenced the National Enterprise Development Programme (NEDEP).
The programme is expected to create 3.5 million jobs across the country through the development of the Micro, Small and Medium Enterprise (MSME) sector.
Minister of Trade and Investment, Mr. Olusegun Aganga, said NEDEP had been developed with the objective of harnessing the opportunities in the MSME sector to drive inclusive economic growth through skills training and development, job creation and wealth generation.
He said: “If we are going to develop our economy and turn our quantity advantage into productive advantage, one of the most important sectors that we have to focus on is the MSME sector.”
“Despite the little support the MSME sector has received over the years, the sector currently contributes to about 75 percent of Nigeria’s Gross Domestic Product and employs more than 45 percent of our people.
“Even developed economies rely heavily on MSMEs for job creation, wealth generation and inclusive economic growth. NEDEP is an initiative spearheaded by the Federal Ministry of Trade and Investment and its three parastatals.”
Aganga explained that the National Enterprise Development Programme was an initiative spearheaded by the Federal Ministry of Trade and Investment and its three agencies.
The agencies include the Bank of Industry, Small and Medium Enterprises Development Agency of Nigeria and the Industrial Training Fund.