President Muhammadu Buhari Thursday declared that for any economy to grow and create jobs, an equally vibrant and successful small and medium enterprise sector was also needed.
The President spoke at State House in Abuja when he received the Governing Council and members of the Institute of Directors led by its President and Chairman, Mrs Ije Jidenma.
He said it was in view of the importance of the sector that he recently signed the Business Facilitation Bill into law.
“I was particularly interested to learn that you not only cater to large corporates, but are aware that for any economy to grow and create jobs, we need an equally vibrant and successful small and medium enterprise sector.
“This administration has, despite the difficult times brought upon us by a variety of external shocks, done much to ensure survival and development of SMEs.
“It is also my pleasure to share with you that your visit comes just a month after I signed into law the Business Facilitation Bill which eases various constraints for micro, small and medium sized enterprises. I am confident that this act will go some way in improving our business environment especially for the MSME’s,” he said.
While congratulating the Institute on attaining the milestone of 40 years, the President extolled its commitment to nation-building, values of transparency and good business ethics.
In her remarks, Dr Jidenma said the reforms executed in various sectors of the Nigerian economy in the past eight years have increased expectations on the performance of business leaders and boards of public sector organisations.