The House of Representatives has mandated its Committee on Small and Medium Enterprises (SMEs) to conduct a comprehensive oversight exercise and host an interactive session aimed at assessing the impact and accountability of Federal Government support programmes for Micro, Small, and Medium Enterprises (MSMEs).
The decision followed a motion sponsored by Hon. Billy Osawaru, who highlighted the critical role MSMEs play in driving Nigeria’s economy through job creation, innovation, local production, and poverty reduction.
Presenting the motion, Osawaru expressed concern over the persistent lack of coordination, duplication of efforts, and inadequate impact assessments across various MSME interventions managed by several Ministries, Departments, and Agencies (MDAs). Despite numerous government-backed initiatives, small business operators across the country continue to struggle with high borrowing costs, limited access to technology, skill deficits, certification hurdles, and restricted market access.
The House noted the urgent necessity to track public funds allocated to these schemes and determine whether they have produced measurable growth, boosted productivity, or generated sustained employment.
To address these challenges, the House resolved to direct the SME Committee to:
–Convene a broad stakeholder session bringing together relevant MDAs, financial institutions, private-sector leaders, and MSME representatives.
–Examine financial and operational data regarding funding, expenditure, beneficiary lists, and implementation metrics for all federal MSME interventions from 2023 to date.
–Assess overall effectiveness by identifying program duplication, systemic gaps, and operational bottlenecks hindering access to support.
–Gather field evidence directly from MSME operators to evaluate actual performance and propose practical solutions for enhancing finance, technology, skills, and market access.
The committee is expected to submit a detailed report with actionable recommendations to improve institutional coordination, ensure fiscal accountability, and maximize the impact of government funding within four weeks for further legislative action.
