The Federal Government of Nigeria has inaugurated a steering committee to drive the implementation of the various support schemes for small businesses especially Micro, Small, and Medium Enterprises (MSMEs) in the country under the Economic Sustainability Plan.

The 10-man steering committee is also expected to work on details of how qualified and targeted Nigerians can access some of the benefits under the Economic Sustainability Plan.

 The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, inaugurated the committee on Tuesday at a brief ceremony held via video-conference. Membership of the group is drawn from both the public and private sectors.

Some of the programmes include;

1. MSMEs Guaranteed Offtake Simulation Scheme: which is designed to sustain 300,000 jobs in 100,000 MSMEs by guaranteeing off-take of priority products and extending payroll support and establishing facility in the six geo-political zones;

2. Establishment of the MSMEs Survival Fund: targeted at sustaining 1,000,000 jobs in 100,000 MSMEs and 333,000 self-employed individuals through the disbursement of grants across the six geo-political zones.

READ: All You Need to Know About Nigeria Economic Sustainability Plan 2020 (Download Details)

The Minster of State for Industry, Trade & Investment, Amb. Mariam Katagum is the Chairman of the steering committee while founder of The Chair Centre Limited & Chairman, First Bank of Nigeria Plc, Mrs Ibukun Awosika is the Vice Chairman.

Other members of the committee include the Chairman of Anambra Rice Mills, Mr Akai Egwuonu; the DG, Industrial Training Fund (ITF), Mr Joseph Ari; the MD, Bank of Industry (BOI), Mr Kayode Pitan; the DG, Small and Medium Enterprises Development Agency, Dr Dikko Radda; and the Director, Industrial Development Department, Mr Adewale Bakare.

Also included on the committee are the representative of the Office of the Chief of Staff; the Technical Adviser to the Minister for Industry, Trade & Investment, Mr Kamar Bakrin, while the Special Assistant to the President on MSMEs, Mr Tola Johnson will serve as Secretary of the Committee and Coordinator of the project.

The mandate of the committee is to amongst other things oversee the implementation of the various MSMEs support schemes captured in the NESP as well as the selection and enrollment of beneficiaries for the schemes.