SMEDAN, NBS Releases 2020 MSME Survey Report

The Small and Medium Enterprises Development Agency (SMEDAN) in collaboration with the National Bureau of Statistics (NBS) on Wednesday in Abuja released the outcome of the 2020 Micro and Small and Medium Enterprises Survey which was conducted in 2020.

Addressing a joint Press Conference at the media launch, the Director-General of SMEDAN, Dr Umaru Dikko Radda stated that the survey covers all areas extensively and is expected to serve as a reference point for both local and international organizations

He started that a major source of worry in MSME Development is unavailability of data, hence the importance of the data to sustain socio-economic development.

“The objectives of the survey is to galvanize stakeholders corporation and also to Serve as an instrument to drive further research.

“The 2020 MSMEs report shows a shrink in number of MSMEs to 39.6 million from 41 million representing a 3.7 per cent decrease,”

“Part of the reason for the decline is open global competitiveness, insecurity as Covid-19 which ravaged virtually all sectors of the economy

“We are hopeful that the Revised National MSME Policy will properly and effectively tackle MSME development,” he further explained.

Asked about the SMEDAN Microfinance bank to support MSME growth, the DG affirmed that the bank is concluding plans on that.

“The process of establishing of SMEDAN Microfinance bank and all modalities have been set, what is left is the approval from CBN,” he added.

He added MSME have been fully integrated in the National Development Plan recently launched by the federal government.

Also, speaking, the Statistician-General of the Federal Dr. Harry Simon, said the report is an outcome of collaborative effort between SMEDAN and the NBS and is the fourth round in series from 2010, 2013, 2017 and then 2020.

“In this round of the survey, Nano businesses were included which refers to small business with 1or 2 employees

“The fourth round of the survey was relevant due to recent socio-economic development and the social occurrences and was carried out in 36 states of the Federation including the FCT.

“Identifying Challenges and Constraints, the survey was Carried out in 36 states of the Federation including the FCT,” household enterprises were designed.

“As the apex statistics body, I can announce that the number of MSME in Nigeria is 39,654,38. Also, the survey reveals that businesses were mostly owned by males representing 61%

“Contribution to GDP now stands at 49.7 per cent from 47.34 per cent While the MSME sector has also employed 61 million Nigerians from 59 million in the last survey.