Kwara State Governor, AbdulRahman AbdulRazaq has assented to the Bureau of Micro, Small and Medium Scale Enterprises Bill, officially creating an agency to drive investments and development in the micro economic sub-sector in the state.
With 36 sections and five parts, the establishment of the bureau seeks to support MSMEs and improve the business environment in Kwara State.
According to the law, it would initiate and articulate ideas for MSME policy thrust in the state, serve as a vanguard and focal point for rural industrialisation, poverty alleviation and eradication, technology acquisition and adaptation, job creation and sustainable livelihood.
In a statement signed by the Governor’s Chief Press Secretary, Rafiu Ajakaye it said the bill will also provide industrial extension services to micro, small and medium scale enterprises, fabricators of machinery, and beneficiaries of micro-credit loans.
It will also serve as a database as it is empowered to demand for and obtain relevant information, data and reports on activities relating to promotion and development of MSMEs from banks, research and development institutions and other support organisations.
The law also established a governing board for the bureau, with its leadership and members to be drawn from across various sectors and senatorial districts of the state.
The Bill establishing the Bureau was passed on March 9, 2022 by the Kwara State House of Assembly, to promote and facilitate development programmes, instruments and support services to accelerate networking and linkage of MSMEs, mobilise internal and external resources among other functions.
