VALIDATION OF GIZ-SEDIN COMMISSIONED REPORT OF SCHEMES THAT ENHANCE ACCESS TO FINANCE BY MSMEs IN PLATEAU STATE HELD ON THURSADAY 18, FEBRUARY 2021, AT CREST HOTEL, JOS

Report by Nnabugwu Chizoba, Sustainability Accountant/Entrepreneurship Development Consultant

A Programme organized for stakeholders to validate the report of situational analysis of government and other private schemes that enhance access to finance by Micro, Small and Medium Enterprises (MSMEs), in Plateau state, was held in Jos, the state capital.

The study and public presentation of the Report’s findings for stakeholder validation, was commissioned by the Pro-Poor Growth and Promotion of Employment in Nigeria, otherwise known and understood better by most members of the public as Sustainable Economic Development in Nigeria (SEDIN).  

The event which held recently in Jos, the Plateau state capital, had in attendance the federal and state institutions, Private sector/financial institutions, MSMEs and business associations involved with either management/administration, or as target beneficiaries of the schemes at the state level.

The federal institutions in attendance at the programme include, the: Central Bank of Nigeria (CBN), Nigeria Incentive-Based Risk Management System for Agricultural Lending (NIRSAL), Bank of Industry (BOI), Bank of Agriculture (BOA), Federal Ministry of Trade and Investment, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), among others, while at the state level were, the Plateau State Microfinance Development Agency (PLASMIDA), Plateau Investment and Property Development Company (PIPC), Plateau Disability Rights Commission, Plateau State One-Stop-Shop Investment Center, Agricultural Services Training Center (ASTC), and the Ministries of: Agriculture, Youths, and Women Affairs and Social Development are some of the Plateau State Institutions present at the event.

Banks and Business Associations were equally represented at the programme. Those present, include but not limited to Sterling Bank,  Microfinance Banks, Plateau Chamber of Commerce, Industries, Mines, and Agriculture (PLACCIMA), Jos Chamber of Commerce, Industry, Mines and Agriculture (JOCCIMA), Miners Association of Nigeria, Country Women Association of Nigeria (COWAN), All Farmers Association of Nigeria, (AFAN), Community Newspaper Publishers Association of Nigeria (CONPAN), People, Community, Business and Development (PCB&D), a Radio/Television Programme, promoting activities of MSMEs, in Nigeria; and the Center for Dialogue, and Enabling Environment for Sustainability Advocacy (CEDEESA).

The aim, fundamentally of the GIZ-SEDIN commissioned study was to:

•       Review the current status, situation and functionality of both Public and Private MSME finance schemes, accessible to MSMEs in Plateau state.

•       Identify the constraints with respect to MSMEs financing in the state, and possible efforts/roles needed from state agencies and other partners/stakeholders to address the constraints.

•       Assess current state framework for MSMEs financing in Plateau State and best examples from other states for possible adoption.

The study is part of the strategy of GIZ-SEDIN Programme, to support state partners of Pro-Poor Growth and Promotion of Employment in Nigeria, to appropriately develop concrete action plans to address the challenges of access to finance for viable MSMEs.

The Report apart from presenting the situational analysis of 52 Federal Government’s schemes mapped by SEDIN, covered state government and other private schemes in Plateau state, including innovative sources of funding and good practices from other states: Lagos, Oyo and Kaduna. Largely, the operations of the schemes and the general framework for MSMEs financing in Plateau State was thoroughly analyzed.

The one day exercise was conducted to among other reasons, present the Report’s findings and analysis to stakeholders for further input and validation.

 

The Report identified that out of the 52 federal schemes supporting MSMEs activities in the area of Access to Finance, in the country, only 9 are functioning in Plateau state, as at the time of compiling the Report. In the same vein 2 schemes were yet to start; while the rest were either inactive, moribund or had no information about them. The 2 schemes, not started are: Graduates Entrepreneurs Support Programme (YES), and Nigerian Youth Investment Fund. However, as at the time of presenting the Report’s findings for validation by the stakeholders, the Nigerian Youth Investment Fund (NYIF), has started in the state.

Personalities at the event include, Mr. Markus Wauschkuhn, Head, GIZ-SEDIN Programme in Nigeria, Mr. Haggai H. Gutap, Director-General, PLASIMA, Mr. Akinwande Pearse, Financial Inclusion and Migration Advisor SEDIN, and Hon. Akin Omoware, Esq, Plateau State Office Coordinator, GIZ. Others are Hauwa Garba, and Dimlong Stella of GIZ, Jos office.