The process of authenticating claims by the Small and Medium Enterprises Development Agency (SMEDAN) that Nigeria has 37 million Micro, Small and Medium Enterprises (MSMEs) has commenced.
The nation’s stats office, National Bureau of Statistics (NBS), is assisting in confirming this figure.
Last month, Director-General of SMEDAN, Mr Dikko Radda, disclosed at a conference in Abuja that there were about 37.1 million MSMEs operating in the country.
Mr Radda made this disclosure at the India-Nigeria Cultural Conference organised by the All India Universities Alumni Association, Abuja Chapter, themed ‘Micro, Small and Medium Enterprises in combating unemployment in Nigeria: India experience.’
“There are presently about 37.1 million MSMEs in Nigeria. That is huge.
“Their contribution to the Gross Domestic Product is about 48.7 percent, while their contribution to export is about 7.2 percent.
“That is to tell you how significant they are to our economy,” Mr Radda had stated at the conference.
He based his figure on the last national survey conducted in January 2014, where it was revealed that 37.1 million enterprises operating in the economy were employing 59.7 million persons.
Speaking at a one-day workshop on MSMEs Survey yesterday, Mr Radda said in the survey that will commence nationwide soon, two micro enterprises sub-class would be categorized instead of the former undifferentiated micro-enterprises class.
According to the SMEDAN chief, who was represented at the event by Mr Wale Fasanya, a senior employee of the agency, “This will help distinguish an establishment-leaning microenterprise sub-class (or salaried paid employment) from the other microenterprise sub-class of unpaid or part-time household members.”