The Standard Organisation of Nigeria (SON) has stated that Micro, Small and Mediums Enterprises (MSMES) is the fulcrum whereby the nation’s economy hinges and rotates.
According to SON, MSMEs is so important that it contributes as much as 48% of Nigeria’s Gross Domestic Product (GDP) and has been the greatest employer of labour.
The Director General of SON, Dr. Ifeanyi Chukwunonye Okeke, disclosed this Friday at the SON’s special day at the ongoing 35th Enugu International Trade Fair.
Okeke represented at the occasion by the Enugu State Coordinator of SON, Engr. Ameh, said that it was because of the importance role MSME plays in the country’s economy that they ensure that their products meet international standards.
“Micro, Small and Medium Enterprises (MSMEs) contribute to 48% of nation’s GDP, account for 96% of businesses and 84% of employment with a total number of about 17.4 million.
“The sector has played and will continue to play significant roles in the growth, development and industrialization of the country.
“In recognition of MSMEs as the drivers of the nation’s economy, SON has put in place a policy that ensures that MSMEs and other relevant stakeholders are involved in standards development process through inclusion in Technical Committees for elaborating standards.
“The whole essence is to create an enabling environment for the sector to be part of the standardisation process so that products emanating from their system would meet global standards,” he said.
