THE Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in collaboration with the National Bureau of Statistics (NBS) has released the 2017 Micro Small and Medium Enterprises (MSMEs) survey showing 41.5 million operators in the country.

Speaking yesterday at the unveiling of the survey in Lagos,   SMEDAN Director-General, Umaru Dikko Radda, said the report has become an invaluable compendium on the state of the MSMEs sub-sector in the country.

He said the setting up of SMEDAN in 2013 was government’s major response to tackling the problems of MSMEs in a co-ordinated fashion.

“With a mandate to promote the development the SMEs sub-sector of the Nigerian economy, SMEDAN assumed the twain roles of coordination and facilitation as the apex agency for MSMEs development. With an estimated 3.33 million enterprises in 2017, Lagos not only leads in total enterprise numbers but but in each of the three enterprise classes- micro, small and medium,” he said.

He also called on government to establish MSMEs bank and make loan access by small business easier.

Also speaking, Statistician General of the Federation, Yemi Kale said MSMEs play a significant role as the engine for economic transformation and industrialization for both developed and developing countries.

Such roles, he said, include improved income re-distribution (low level capital required), job creation & skills development (particularly for youth, women, elderly), adoption of technology & innovation (competitiveness), industrial diversification, stimulates local economy (demand down the value chain).