Home Entrepreneurship Entrepreneurship Supportive Agencies in Nigeria

Entrepreneurship Supportive Agencies in Nigeria

by Olufisayo
Entrepreneurship Supportive Agencies In Nigeria

Manufacturer Association of Nigeria (MAN)

MAN was formed as a company limited by guarantee to perform important roles on behalf of its members. It was established as a national industrial association in 1971.

The activities of MAN are focused on sectoral group interactions.

The list of sectoral groups includes:

  • Food, Beverages, and Tobacco.
  • Chemicals and pharmaceutical
  • Domestic and industrial plastic, rubber, and foam.
  • Basic metal, iron, and steel, and fabricated metal products.
  • Pulp, paper and paper products, printing, and publishing.
  • Electrical and electronics.
  • Textile, weaving, apparel, carpet, leather, and leather footwear.
  • Wood and wood products including furniture.
  • Non-metallic mineral products.
  • Motor vehicle’ and miscellaneous Assembly.
  • MAN export group.

Functions of Manufacturer Association of Nigeria (MAN)

This industrial association perform the following functions among many;

  • It encourages the patronage of Nigerian-made products by Nigerians and foreigners.
  • It encourages a high standard of quality for member’s products through the collation and the provision of advice.
  • It provides’ for manufacturers venue for formulating and influencing general policy, in regard to industrial matters.

National Association of Small And Medium Enterprises (NASME)

It is a private sector organization in Nigeria. Its membership is drawn from small and medium scale enterprises. It is devoted’ to networking capacity building, policy advocacy, and promotion of the performance of its members’ firms and operators. NASME works to improve the welfare of its members and make input in industrial policy.

Analysis and publications from NAMSE on the business environment, competitive enlightenment, and policymaking are useful to Nigerian entrepreneurs.

Member firms of NASME face the daily challenge of the unsupported macroeconomic environment.

Nigerian Association of Chambers Of Commerce, Industry, Mines, and Agriculture (NACCIMA)

This body is a voluntary association of manufacturers, merchants, miners, farmers, financiers, industrialists, trade groups who network together for the principal objectives of promoting, protecting, and improving the business environment for micro and macro benefits.

The first Chamber of Commerce in Nigeria, the Lagos Chamber of Commerce was founded in 1888 while NACCIMA, the umbrella organization for all chambers of commerce in Nigeria was established in 1960.

Roles of NACCIMA

  • It contributes to the socio-politico-economic development of Nigeria.
  • It provides a network of national and international business contacts and opportunities.
  • It promotes and develops all matters affecting commerce, industry, mines and agriculture, and other forms of private economic activities.
  • It considers legislative and other measures affecting commerce, industry, mines, and agriculture in Nigeria.

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)

This body was established to promote the development of micro, small, and medium enterprises (MSME). Its mission is to facilitate the access of micro, small and medium entrepreneurs/investors to all resources required for their development. Its vision is to establish a structured and efficient micro, small and medium enterprises sector that will enhance the sustainable development of Nigeria.

If SMEDAN functions optimally it will be one of the most veritable channels to combat poverty.

Like any other agency of its kind, harsh economic condition coupled with weak government institutions does not help its performance.

Summary of SMEDAN functions

  • Stimulating, Monitoring, and Coordinating the development of the MSMEs sector,
  • Initiating and articulating policy ideas for micro, small and medium enterprises growth and development,
  • Promoting and facilitating development programs, instruments, and support services to accelerate the development and modernization of MSME operation.
  • Serving as a vanguard for rural industrialization, poverty reduction, job creation, and enhance sustainable livelihoods.
  • Linking SMEs to internal and external sources of finance, appropriate technology, technical skills as well as to large enterprises.
  • promoting information and providing access to industrial infrastructure such as layouts, incubators, industrial parks.
  • Intermediating between MSMEs and the Government. SMEDAN is the voice of the MSMEs.
  • Working in concert with other institutions in both public and private sectors to create a good enabling environment of businesses in general, and MSME activities in particular

National Poverty Eradication Programme (NAPEP)

National Poverty Eradication Programme (NAPEP) is a 2001 program by the Nigerian government aiming at poverty reduction, in particular, the reduction of absolute poverty. It was designed to replace the Poverty Alleviation Program.

NAPEP and NAPEC coordinate and oversee various other institutions, including ministries, and develop plans and guidelines for them to follow with regards to poverty reduction.

NAPEP goals include training youths in vocational trades, supporting internships, supporting micro-credit, create employment in the automobile industry, and help VVF patients.

The program is seen as an improvement over the previous Nigerian government poverty-reduction programs. According to a 2008 analysis, the program has been able to train 130,000 youths and engaged 216,000 people, but most of the beneficiaries were non-poor.

This program is aimed at poverty eradication and empowerment. There are four major intervention schemes in Nigeria’s current poverty eradication program.

One is the Youth Empowerment Scheme (YES), which is targeted at youth. YES is more than an employment scheme as it is aimed at the provision of training opportunities, skills acquisition, employment opportunities, wealth creation through enhanced income generation, improved social status, and rural development.

It is primarily aimed at the economic empowerment of Nigerian youths. Its impact is still below expectation.

Micro Finance Institutions (MFIS)

These financial institutions are set up to meet the credit needs of the rural and urban poor, artisans, farmers, petty traders, vulcanizers, etc. CBN gave a directive to all erstwhile community Banks to convert to MFIs by recapitalizing to meet the new guidelines for the setting up of MFIs.

One of the challenges microfinance face in Nigeria is that they do not reach a great number of poor Nigerians. The effect of not appropriately addressing this situation would further accentuate poverty and slow down economic growth and development.

Small and Medium Industries Equity Investment Scheme (SMIEIS)

The Scheme requires all banks in Nigeria to set aside ten (10) percent of their Profit After Tax (PAT) for equity investment and promotion of small and medium enterprises.

The 10% of the Profit After Tax (PAT) to be set aside annually shall be invested in small and medium enterprises as the banking industry’s contribution to the federal governments’ efforts towards stimulating economic growth, developing local technology, and generating employment.

Activities covered by the scheme include all legal business activity with the exception of trading/merchandising and financial services. Beneficiaries are expected to comply with the guidelines of the scheme and ensure prudent utilization of funds. Like its other counterparts, its performance is still below expectation.

Photo by Dio Hasbi Saniskoro from Pexels

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Pls i want know the address of NASMEs in south west nig.and NASMI Too.how can i regester my enterpris with the C A C.I Belive i can regester before i stat the enterpris

Olufisayo July 5, 2011 - 10:22 AM

Hi Samuel,
This is NASME’s info, call them and ask other things you need about them;
The Nigeria Association of Small and Medium Enterprises (NASME)
191, Ikorodu Road Palm-Grove, P.O Box 2872, Lagos, Nigeria
Tel: 234-1-8166463, 08056283160.
Email: nasmenigeria@yahoo.com

To register you business with C.A.C, you would need to go to their office and fill the forms or contact a lawyer to do the job for you.

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Olufisayo July 8, 2011 - 5:22 PM

Hi Tunde, thanks for the comment. The article was compiled by Ayodeji Sanyaolu in March 2011. Hope that helps.

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Roles of Commercial and Development Banks in the Promotion of Small and Medium Enterprises (SMES) April 21, 2015 - 7:40 AM

[…] Entrepreneurship Supportive Agencies in Nigeria […]

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Ndidiamaka April 21, 2016 - 10:29 PM

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