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SON Urges MSMEs to Elevate Standards for a Thriving Home-Grown Economy

Blessing Joseph by Blessing Joseph
October 11, 2023
in Business, Economy, News
0
SON Urges MSMEs to Elevate Standards for a Thriving Home-Grown Economy
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The Standards Organisation of Nigeria (SON) encourages Micro, Small, and Medium Enterprises (MSMEs) to focus on meeting high standards to align with the Federal Government’s agenda for economic growth. This message was conveyed by the Director General, Mallam Farouk Salim, during a training session for MSMEs, emphasizing the vital role of competitiveness in today’s global landscape.

Salim stressed the importance of preparing for the African Continental Free Trade Agreement (AfCFTA) and producing products that are globally competitive. He highlighted that adherence to strict standards and quality assurance is fundamental for product competitiveness.

Salim emphasized that sub-standard products not only jeopardize lives and property but also hinder economic development. He underscored that adherence to standards leads to industrial and economic growth, global acceptance of locally-made products, and overall national development and security.

Adams Adebayo, Chairman of the Nigerian Association of Small and Medium Enterprises (NASME), commended the program, emphasizing the need for standardization to enhance product acceptance in the market.

President of the Association of Micro Entrepreneurs of Nigeria (AMEN), Iche Saviour, emphasized the importance of affordable loans with low interest rates for small businesses. He advocated for the revival of neglected MSMEs to contribute to the home-grown economy.

Gertrude Akhimien, Vice Chairman of the Nigeria Association of Small Scale Industrialists (NASSI) Lagos, highlighted the challenges faced by MSMEs. She called for SON’s support in standardizing new products and urged the establishment of SME desks for accessibility. Akhimien also advocated for industrial hubs to facilitate increased production for small businesses.

The event also featured discussions on promoting exports and product competitiveness through quality labeling and packaging materials, as well as the pivotal role of standardization in industrial development.

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Tags: African Continental Free Trade Agreement (AfCFTA)Association of Micro Entrepreneurs of Nigeria (AMEN)EntrepreneursMSME AfricaMSMEsNigeria Association of Small Scale Industrialists (NASSI)Nigerian Association of Small and Medium Enterprises (NASME)SMESMEsStandards Organisation of Nigeria (SON)
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