The Federal Government has issued a set of palliatives to help Micro, Small and Medium Enterprises, MSMEs, wade through the current economic fallouts of the COVID-19 pandemic.
According to the Vice President, Professor Yemi Osinbajo, the palliatives reflect the Buhari administration’s determination to support MSMEs and the priority the Federal Government places on small businesses.
A statement by Osinbajo’s Senior Special Assistant on Media & Publicity, Laolu Akande, listed the palliatives to include; E-Registration of MSMEs/products at eighty per cent discounted rate over a period of six months, Zero tariffs for the first two hundred micro and small businesses to register on the E-platform and Waiver on administrative charges for overdue late renewal of expired licenses of micro/small businesses products for a period of ninety days.
According to the statement, Professor Osinbajo said the Federal Government will continue to adopt and implement practical measures to ensure that the projected growth in the MSMEs sector is not seriously affected by the development.
Speaking specifically about some of the steps taken by the Federal Government to protect private investments especially small businesses in the country, Professor Osinbajo said, that President Muhammadu Buhari had from the onset of the health cum economic crisis taken strategic decisions aimed at insulating businesses from imminent collapse.
He urged regulatory agencies involved in the MSMEs sector to improve on their service delivery noting that they expect to see from them in terms of innovation, adaptability in the next few months and through the challenges that they will be seeing in business environment.”
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