Edo trains over 600 MSMEs on financial literacy, revs up investment drive

The Edo State Government has kicked off a five-day training for Micro, Small and Medium Enterprises (MSMEs) in an effort to strengthen businesses to contribute effectively to the state’s economy.

The training is organized by the Ministry of Industry, Trade and Cooperatives in collaboration with the German development agency, GIZ and will upskill at least 600 participants across the three senatorial districts of Edo State on financial literacy and business management.

The commissioner for Industry, Trade and Cooperatives, Afishetu Braimoh, said the trainees include 400 participants from Edo South, 100 from Edo Central, and 100 from Edo North Senatorial Districts.

Braimoh noted, “From the data gathered from research by the Ministry, most MSMEs fold up or don’t do well due to management issues, especially financial management. This is the major limitation to sustainable investment.

She added, “The state government will not only train the participants but also make credits available for the successful trainees to scale up their businesses. Also, the government is ready to collaborate with MSMEs to promote ‘Made In Edo’ goods as well as assist in the areas of branding, production, and even exports.”

The Chairman of the National Association of Small Medium Enterprises (NASME), Sir Femi Ajijala, charged the trainees to leverage the opportunities provided by the training to make their businesses more vibrant.

Also, the Chairman of the Nigerian Association of Small Scale Industrialists (NASSI), Noma Iguisi commended the state government for its efforts at eradicating the managerial failures of small businesses and making funds readily available for entrepreneurs.

One of the participants, Mr. Sylvester Ebhodaghe, an exporter of agricultural products stated, “the training will help keep participants abreast on financial literacy and give us more insights to scale up our businesses in our local environment for global competitiveness. It will also create jobs for our teeming youths by making them gainfully employed. This programme has come at the right time.”

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