Fact Sheet On MSME Clinics – September Update

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• MSME Clinics have been held in 17 states across the country, and the FCT.
• The states that have hosted the Clinics are: Abia, Ondo, Katsina, Sokoto, Plateau, Ebonyi, Anambra, Kogi, Ondo, Cross-River, Akwa-Ibom, Edo, Ogun, Lagos, Kano, Oyo, Kwara.
• 320,000 MSMEs have so far participated in the MSME clinics nationwide.
• Access to finance support for the MSME clinics have come from the Development Bank of Nigeria (DBN) and the Bank of Industry (BOI).
• While the DBN’s mandate is to address access to funding for MSMES in Nigeria, the Bank of Industry relaunched its loan for SMEs without collateral but guarantors at 9% during the Clinics.
• MSMEs Clinics has recently partnered with the CBN and some commercial banks to give out loans to qualified MSMES at 5% interest rate over a period of 5-7 years under the AGMEIS Fund.
• Agencies such as SMEDAN and ITF also help with capacity building for the MSMES during and after the clinics in each state
• The MSME Clinics are continuous, with States being encouraged to set up one-stop shops and have regular state clinics, whilst the Federal Government will begin Clinics next year to ascertain the level of compliance by agencies. The one-stop shops allow for continuous interactions with the participating agencies to ensure MSME issues are being resolved quickly.
• So far, five (5) states – Cross-River, Osun, Kwara, Plateau, Abia – have launched One-Stop Shops for MSMEs to foster continuity after the Clinics, while three (3) more states to launch by end of the year – Kaduna, Edo, Lagos and Kano.
• Agencies like NEPC, NAFDAC, SON and NEXIM have also used the clinics to reduce MSME related certifications by 50% during Clinics.
• From the MSME Clinics, the National Export Processing Council (NEPC) and NEXIM identify and provides support for MSMEs that are ready for export.
• Before the end of the year, the FG plans to use the MSMEs Clinics platform to launch Shared Facilities for MSMEs across the Nation.
• This will allow MSMES without financial capacities walk into cluster style fully equipped facilities and pay a token to use machines or equipment they can’t afford, these facilities will also be fully certified by the regulating agencies like NAFDAC, SON, NEPC etc.
• Vice President Yemi Osinbajo, SAN, requests monthly updates of the Performance of each participating agency.
• The National MSME Clinics Is a Presidential Initiative, headed by the Vice President.
• The Office of the Vice President monitors the performance of the participating agencies before and after each Clinic, from feedback received from the Clinic Secretariat headed by the Special Assistant to the Vice President on MSMEs, Mr Tola Johnson, who also coordinates all activities of the MSME Clinics.
• This year, 2018, the Federal Government recognized and rewarded MSMEs in the Country for the first ever with the National MSME Awards, which held at the Banquet Hall, Abuja in August.
• An MSME won the grand prize of a brand-new car and a cash reward, while others went home with cash prizes
• All the finalists at the awards are to be given a month media publicity by FG.
• The Federal Govt is also launching Shared Facilities for MSMEs across the nation this year. This is to allow MSMEs without financial capacity to own their equipment and opportunity to go into a fully equipped cluster style facility to pay a token to use such equipment, while the relevant regulatory agencies will have certified the facility. Pilot editions facilities will be Commissioned by December 2018