The Nigerian Association of Small Scale Industrialists (NASSI) has appealed to Governments at all levels to allocate 25 percent of the land available at all Industrial corridors for micro, small and medium enterprises (MSMEs) at different rate slabs and for acquiring models.
They said this will help MSMEs to start their business ventures at affordable rates in key industrial parks and clusters in the country.
NASSI in its position paper presented at the national stakeholders’ workshop on review of MSME policy, held recently in Aba, the commercial hub of Abia State, urged Government to provide world class infrastructure at national, State and industry sector specific clusters for MSME in public, private partnership (PPP) model.
This model according to NASSI, comprises physical infrastructure, knowledge infrastructure (Creation of tool rooms), e-platforms, technology and innovation support for MSMEs.
They said that it will further link all stakeholders in the MSME eco-system, namely, bankers, global markets customers, equity investors, skill development, research and developments institutes, trade associations, among others with the clusters and MSME participants in the States.
It will also promote IT development and implementation in MSME clusters, implement cloud technology among the MSME clusters, which can help MSMEs in knowledge sharing and competitiveness development.
On the regulation of the sector, NASSI suggested a single comprehensive MSME law for Nigeria, applicable in all states and territories and applicable to all MSMEs; including labour law, land acquisition act, single window approval, to allow entrepreneurs and MSMEs to register their businesses and obtain required licenses, through a single application for setting up business and easy facilitation of registrations.
They stated that the Nigerian finance market is not able to finance MSMEs in a sufficient way and sought for improved funding for the sector.
They urged Government to provide incentives for investments and funds into MSME business, as well as incentivize debt funding in MSME segment, by reducing direct tax rates on income/profits generated, by funding MSME segment.
