have to play in achieving the Vision20:2020 objective, the present Administration, through its agencies like the Small and Medium Enterprises Development Agency (SMEDAN). The Central Bank of Nigeria (CBN)
Bank of Industry (BoI), National Economic Reconstruction Fund
(NERFUND) National Bureau of Statistics and international partners like
United Nations Development Programme, United Nations Industrial
Development Organization (UNIDO) etc, engaged in massive capacity
widening activities for the SME sector aimed at empowerment and recapitalization. Some of these efforts include the National Policy on Micro Small and Medium Enterprises Development: In collaboration with
the United Nations Development Programme [UNDP] and all relevant
stakeholders, SMEDAN delivered the first national Policy that would
sign-post the development of the micro, small and medium enterprises
[MSME] sub-sector. The policy effectively resolved the persisting confusion surrounding definitions of Micro, Small and Medium enterprises,
[see Table below] as well as provided the platform for achieving institutional synergies in coordination, monitoring and evaluation in a National Consultative Committee on MSME Policy implementation. The national Committee has since been set up, while some states like Edo,
Zamfara, Kwara, Benue, Kebbi, Niger and Cross River have set up similar
Committees to facilitate grass roots implementation.
Classification adopted by National Policy on MSMEs is detailed in the table below.
Table: Classification of Sizes of MSME&SME
SIZE CATEGORY
EMPLOYMENT
ASSETS
(N million, excluding land
and buildings)
1 Micro enterprises
Less than 10
Less than 5
2 Small enterprises
10-49
5 – less than 50
3 Medium enterprises
50-199
50- less than 500
Source: SMEDAN National Policy.
Information Services /Business Awareness Creation and Research: Business
Clinic at the Agency’s Head Office. The Agency set up a Business Clinic at its
Head Office to offer specialized one-on-one business counseling to MSMEs
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