The National Security Adviser (NSA), Major Gen. Babagana Monguno, and the Governor of Ekiti State, Dr. Kayode Fayemi, have said security of lives and property in Nigeria is central to the survival and growth of Micro, Small and Medium Enterprises (MSMEs), urging the government to partner in order to end the current security challenges in the country.

They called for partnership and huge investments in the security sector as an attempt by the governments to provide jobs, attract national and foreign investments-to materialise and yield dividends for the country.

Speaking at the commencement of the National Council on Industry, Trade and Investment in Ado Ekiti yesterday, Monguno said the recurrent cases of terrorism, kidnappings, herder-farmers clashes, and vandalism are issues the governments must deal with to fast-track the growth of MSME and the industrial sector in the country.

He said:

Security is critical to the growth of the economy and development of industry, and that is why the government of President Muhammadu Buhari is working hard to ensure that all these menaces constituting insecurity are tackled.

Terrorism, vandalism, kidnapping, farmers-herders’ clashes and other security threats, are slowing down investments and these are issues we must be collectively fought and resolved.

The growth of MSME is central to the provision of jobs for the youths. Let me also reveal here that 83.9 percent of the country’s workforce is in MSME, this makes it a catalyst to job creation and antidote to insecurity.

The NSA said the federal government was also ensuring effective profiling of the repentant terrorists and bandits, and ensure proper rehabilitation before integrating them into the society.

We are also working with NAPTIP and NDLEA to stop drug and human trafficking, and this case of ICT fraud is tarnishing the image of the country. We need to stop them at all cost, and MSME is one weapon we can deploy effectively to realise this,

he stated.

In his contributions, Fayemi said he has been making the business environment friendly and secure in Ekiti State, saying he has invested significantly in security, making the state a safe and secure location to conduct businesses.

According to him,

Today, we have attracted almost $100 million of investments into the state, especially in the agriculture, technology and infrastructure spaces. Some of these include Promasidor Nigeria Limited’s investment in Ikun Dairy Farm, which is now producing 80,000 litres of milk per month after being moribund for almost four decades; investments in cassava by FMS Farms and Promise Point, oil palm investments by Ellah Lakes; rice investments by Stallion Group and JMK Foods, as well as other investments in snail farms, beef production, and fish farming.

The collaboration between our government, the federal government and the private sector will no doubt continue to enhance the productivity of MSMEs in our State. We also invested in several lending programmes to complement the work being done by the federal government.

Our Micro Finance and Enterprise Development Agency has facilitated loans to over 4,000 entrepreneurs in the state with a commitment to do more next year. We have also completed our Civic and Convention Centre, which boasts of an upscale shopping area, the flagship Oja Oba in Ado-Ekiti, as well as model markets in all local government areas to improve the trading infrastructure for businesses.

Also, the Minister of Industry, Trade and Investment, Chief, Niyi Adebayo, described MSME as one important pillar in the diversification programme of the Buhari-led government, saying it remains the engine room of economic growth, which makes it important to strengthen the sector under a globalised economy.

Justin Nwosu

Justin Nwosu is the founder and publisher of Flavision. His core interest is in writing unbiased news about Nigeria in particular and Africa in general. He’s a strong adherent of investigative journalism, with a bent on exposing corruption, abuse of power and societal ills.