Kwara Gov Signs MSME Bureau Bill into Law to Boost Investments

Hammed Shittu in Ilorin

Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, at the weekend assented to the Bureau of Micro, Small and Medium Scale Enterprises Bill into law.

AbdulRazaq said: “The development would officially create an agency to drive investments and development in the micro economic sub-sector in the state.

“And with 36 sections and five parts, the establishment of the bureau seeks to support MSMEs and improve the business environment in Kwara State.”

In a statement issued in Ilorin and signed by the governor’s Chief Press Secretary, Mr. Rafiu Ajakaye, the governor stated that: “The bureau 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.

“It will  also promote and facilitate development programmes, instruments and support services to accelerate development, mobilisation, networking and linkage of MSMEs, mobilise internal and external resources, including technical assistance for MSME institutions, trade associations, and nongovernmental organisations, oversee, coordinate and monitor developments in the MSME subsector, design, package and promote cottage, MSMS industrial projects.”

The statement further said the bureau would also serve as a database as it is empowered to, among other things, demand and obtain relevant information, data and reports on activities relating to promotion and development of micro, small and medium scale enterprises from banks, research and development institutions and other support organisations.

“It will also provide industrial extension services to micro, small and medium scale enterprises, fabricators of machinery, and beneficiaries of micro-credit loans.”

The statement added: “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 in the state.”

The bill establishing the bureau was passed on March 9, 2022, by the state House of Assembly.