A robust MSMEs segment can help Nigeria achieve 7 SDGs — Islamic Bank

Vice President, Country Operations, Islamic Development Bank, Dr Mansur Muktar says a robust Micro, Small and Medium Enterprises (MSME) segment can tackle seven of the United Nation’s Sustainable Development Goals (SDGs) in Nigeria.

Muktar said this on Monday in Abuja while making a presentation at the inaugural lecture of the Development Bank of Nigeria, with the theme; “MSMEs as the Key to Unlocking Inclusive Growth in Africa’’.

He listed the seven SDGs as “end poverty’’, “zero hunger’’, “good health and well being’’, “gender equality’’, “improve sustainable industrialisation’’, “reduce income inequalities’’ and to promote inclusive and sustainable economic growth, employment and decent work.

According to him, the MSMEs can also promote inclusion and sustainable economic growth, employment and decent work.

Muktar said that MSMEs as the engine of growth had a leading role to play in achieving SDGs and taking Nigeria to the next level.

He, however, called attention to the fact that MSMEs were often constrained by limited access to finance, infrastructure deficit, poor enabling environment and weak capacity.

“To improve MSMEs financing, it is imperative to develop supportive legal and regulatory framework, strengthen financial information infrastructure and design an effective government support mechanism.

“We must also leverage and partner with private sector and other development actors to drive economic growth on our continent,’’ he said.

He called on the Nigerian government to help realise the country’s full economic potential by giving MSMEs all the support it needs to thrive.