Ado-Ekiti, Ekiti State
Thursday, February 27, 2014
Protocols
It gives me great pleasure to welcome you all to this great occasion. I particularly welcome all participants from other states in the region, and wish you all a pleasant stay in the land of honour, Ekiti State, Nigeria. I want to particularly commend the Nation Newspapers for asking Ekiti State to host the third leg of the programme.
This event is of particular significance because it addresses the core of sustainable development. According to the United Nations Industrial Development Organisation (UNIDO), “SMEs have a significant role to play in economic development. They form the backbone of the private sector; they make up over 90 per cent of enterprises in the world and account for 50 to 60 per cent of employment. They also play an important role in generating employment and poverty alleviation.” The National Bureau of Statistics (NBS) put the total number of SMEs in Nigeria at over 17 million.
However, because of some challenges in the economy, a lot of SME operators find it very difficult to thrive. Some of their challenges include poor infrastructure, burdensome tax regimes, lack of capacity in accounting, management, marketing, economic planning and limited access to finance.
Also of note is the fact that most SMEs are operated by young people who constitute a majority demographic group at over 70% of the population. These youth are the bastion and future of our region and great nation. Therefore, I consider this event a major step in the right direction towards setting the Southwest region on the path to sustainable economic development.
Distinguished ladies and gentlemen, you will recall that this program was held in Oyo State and the State of Osun in the years 2012 and 2013 respectively. I am delighted to note that the two previous editions were huge successes. I, therefore, have no doubt in my mind that this one will be a greater success.
It is on record that the Old Western Region’s development legacies are yet to be surpassed in the history of our nation. Of all the ethnic nationalities in Nigeria today, The Yoruba have been pacesetters in development for other regions to follow. The Region has equally been the hub of civilization, trade, industry, commerce, education and other social advancements. Our past leaders, particularly the late sage, Chief Obafemi Awolowo of blessed memory, laid the foundation for the development of the region through free education which produced many of the leaders of today.
The Region with a population of about 50 million people is educationally resourceful, politically stable, religiously tolerant and economically endowed. We realise that bringing the dreams of our forefathers to reality is our collective responsibility. That is why we have come together to pursue this noble dream. This objective gave birth to the new thinking and renewal of the idea of regional re-integration of the southwest states. I am certain that our founding fathers will be happy seeing that the hitherto partitioned region is taking steps to reintegrate and collaborate. Our values are known and respected globally, we are a respected people all over the world and we need to maintain our place in history.
I must at this point celebrate my brother Governors who as true visionaries have laid a solid foundation for the integration of the region with the adoption of the blueprint to guide our exertions namely the Development Agenda of the Western Nigeria (DAWN). We have further consolidated our position by establishing an institution – the DAWN Commission with headquarters in Ibadan, Oyo State, with a mandate to drive the attainment of the goals of the agenda.
Regional integration of Southwest Nigeria is not just about the unity of the region but also focuses on:
(1) Presenting the region as a bloc for global competitiveness by strategically harnessing its economic competitive elements;
(2) Making a radical Infrastructural development in the Region;
(3) Having a strong focus on both social and human capital development of the Region;
(4) Building inclusive institutions;
(5) Homeland affairs and security; and
(6)Raising and sustaining the enviable culture of the Region.
I must however state that sustainable economic development is the platform from which all other objectives can be tackled successfully. It is for this reason we are focusing on SMEs as one of the vehicles for driving our objective of “Presenting the region as a bloc for global competitiveness, by strategically harnessing its economic competitive elements”. This is the main reason we are holding the 3rd Edition of the Southwest Regional Integration Programme on MSMEs tagged Ekiti 2014.
As we all know, the world is dynamic and as such we need to follow the trend of development in order to be relevant in the global economy. This necessitated our quest to move away from a focus on the traditional commercial activities to modern Medium, Small and Micro Entrepreneurs (MSMEs). The reason for this is to create wealth and at the same time address unemployment which is the cause of many of the social malaises bedeviling our society. This programme therefore aims to open our eyes to opportunities that abound around us through available resources, modes of financing, modalities for carrying out businesses, e.t.c.
As i conclude my remarks, I would like to share with you some of the efforts we have made in Ekiti State to leverage MSMEs development. Our overarching vision is to make poverty history in the state. Since the inception of this administration, we have created opportunities for the employment of both graduates and non graduates into the Civil Service, empowerment of the youth through Youth in Commercial Agriculture Programme (YCADs), employment of youths as Volunteer Corps, putting in place necessary infrastructure that can attract and sustain investors, training of youth in various vocations, renovation and establishment of new Technical Colleges, etc. in a bid to reduce unemployment and eradicate poverty.
In December 2013, the Government of Ekiti State inaugurated the Ekiti State Council on Micro, Small and Medium Enterprises constituted of 23 high profile members to coordinate the activities of SMEs in the state. This is in recognition of the important roles that SMEs play in economic development, job creation and wealth creation. We are also in partnership with the Central Bank of Nigeria in its efforts to inject N220billion low interest long term development finance for the benefits of SMES. The state government also recently set up a Cooperatives Board with a mandate to organize all cooperative societies in Ekiti State and to regulate their activities in a way and manner that the common challenges they encounter particularly in the area of accessing loans can be addressed.
It would also interest you to know that, for the first time, in the 2014 budget, we appropriated about N300million for private sector development with far reaching goals to provide soft loans to SMEs as well as facilitate capacity building opportunities for SME operators on the rudiments of doing sustainable business. Our partnership with the Bank of Industry and Bank of Agriculture is also exclusively pro- SMES.
We are also establishing a One-Stop-Shop in the state which would streamline all the regulatory steps needed to be taken to conduct business in the state. This would ensure business start-ups can meet all requirements by visiting just one office and spending a very short time. This would go a long way in improving the ease of doing business in the state.
The state government also remains committed to improving the administration of justice in the state, so as to ensure robust legal framework for the enforcement of contracts and the protection of honourable business interests.
Let me at this junction once again express our appreciation to all our Governors who are present and those who sent representatives to grace this occasion. We believe that the transformation of our region is our collective responsibility. To all other invited guests, we appreciate your presence.
I also want to commend the efforts of Vintage Press, the Publishers of The Nation Newspaper for sharing in this vision of regional integration and supporting this initiative.
I welcome you all and pray that the Almighty God would bless our good efforts.
Ajose wa ko ni baje o, Odua a gbe wa o!
Thank you.
Dr. Kayode Fayemi
Governor, Ekiti State, Nigeria
Thursday, February 27, 2014
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