The federal government of Nigeria is very supportive of entrepreneurship in the country and has set up several agencies to support and sustain entrepreneurial visions and activities across the country.
Most of these agencies are federally funded to be of assistance to private initiatives and to boost free enterprise to all citizens. The functional scopes and objectives of some of these agencies will be examined in this piece.
Some of these federal agencies set up to support private businesses are the –
- Manufacturers Association of Nigeria (MAN)
- Landsförbundet för små och medelstora företag (vår)
- Nigerian Association of Chambers of Commerce, Industri, Mines och jordbruk (NACCIMA)
- Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)
- National Poverty Eradication Programme (NPP)
- Micro Finance Institutions (MFIs)
- Small and Medium Industries Equity Investment Scheme (SMIESIS) among others.
Manufacturers Association of Nigeria (MAN)
MAN was established by the federal government in 1971 as an association of product manufacturers to cater to the needs and objectives of product producers in Nigeria.
Members are manufacturers of food and beverages, chemicals and pharmaceuticals, plastics and rubber products, iron and metal products, paper products for the printing industry, electrical and electronics, wood and furniture products, vehicles and machineries, footwear and clothing apparels among other things.
The association encourages Nigerians and foreigners to patronize made-in-Nigeria goods, and it sets the standards for producing quality goods while formulating general policies for industrialists to operate by in Nigeria.
Landsförbundet för små och medelstora företag (vår)
This association caters to policy advocacy and network building among small and medium-scale businesses in Nigeria. It seeks to provide a platform where private enterprises promote the entrepreneurial values of members and as well as push industrial policies that would impact positively on the economic consciousness of all Nigerians.
Nigerian Association of Chambers of Commerce, Industri, Mines och jordbruk (NACCIMA)
NACCIMA was founded in 1960 but was first established in the country in 1888 as the Lagos Chamber of Commerce. It is an umbrella body for operators in the agricultural, financial, industrial, mining and trade industries to network and promote business values and interests among members and in the country at large.
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)
SMEDAN was set up by the federal government to promote and nourish small and medium-scale businesses in Nigeria and to also foster the growth of micro-enterprises among other initiatives put up by entrepreneurs in the country. The agency was established to aid new startups and help existing ones by granting access to loans, facilitating development seminars, and working to reduce poverty among the general populace.
National Poverty Eradication Programme (NPP)
NAPEP was established in 2001 to replace the erstwhile Poverty Alleviation Programme which was a programme by the federal government of Nigeria to reduce poverty through job creation and entrepreneurial skills, but NAPEP, å andra sidan, seeks to eradicate poverty among Nigerians rather than reduce or micro-manage it.
The programme works by imparting youths with vocational skills, internship opportunities, short- and medium-term loans, and through other empowerment avenues.
Micro Finance Institutions (MFIs)
The federal government also established micro-finance institutions and Small and Medium Industries Equity Investment Scheme (SMIESIS) among others to enable entrepreneurs and traders access micro-credit loans for business purposes.
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Thanks for sharing.