Entrepreneurship Development Agencies In Nigeria - List of Entrepreneurship Support Agencies in Nigeria

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In this article, you will get to know the main agencies in Nigeria that provide support for entrepreneurs, small business owners and investors as well. As you read through this list, consider the nature of the business that you deal in and find out which agencies you can partner with so as to get periodic support financially and otherwise for the smooth running of your business venture.

From my research and study, the 7 main agencies that play significant roles in the provision of support to Nigerian entrepreneurs nationwide include the following:

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(1).       THE MANUFACTURERS ASSOCIATION OF NIGERIA (MAN):

The MAN was established in the year 1971 by the National Industrial Association who incorporated it duly with the Corporate Affairs Commission (CAC ) as a company limited by Guarantee so that it can be able to perform vital roles for the members. Mainly, the MAN has structured its activities in such a way that they are all about the interactions between and among different sectoral business groups which include the following:

·         Pharmaceuticals and Chemicals

·         Food and Beverages

·         Wood, Furniture and Wooden Products

·         Electronics and Electrical appliances

·         Non-Metallic Mineral Products

·         Export Group of the MAN

·         Motor vehicle and miscellaneous Assembly

·         Industrial and Domestic foam, rubber and Plastic

·         Paper products, paper, pulp, printing and publishing

·         Weaving, Textile, Carpets, Apparels, leather footwear and leather

·         Basic Metal, Steel and Iron and other fabricated metal products

THE FUNCTIONS AND DUTIES OF THE MANUFACTURERS ASSOCIATION OF NIGERIA (MAN):

Among many things, the Manufacturers Association of Nigeria (MAN) has the following duties to discharge:

·         With regards to industrial issues, the MAN encourages Nigerian citizens and foreigners to consumed Nigerian manufactured products.

·         It provides a platform where manufacturers can come together to formulate and debate on industrial policies.

·         The MAN encourages its members to manufacture products of high standards and quality.

(2).       THE NATIONAL ASSOCIATION OF SMALL AND MEDIUM ENTERPRISES (NASME):

The NASME is an association of small scale and medium scale enterprise owners. Notably, it is an Organisation of the Nigerian Private sector which is saddled with the responsibility of bringing its members together to develop strong business networks for capacity building, business policy formulation as well as the promotion of the business activities of all its members, private firms and businesses. As the NASME functions to improve the unity and welfare of its member small and medium scale enterprises, it also plays significant roles in influencing the national Industrial policies to favor its members and their business activities. So far, many entrepreneurs and business owners in Nigeria have improved their business practices and achieved tremendous business growth over the years as a result of implementing the guidelines of the NASME found in their periodic reports and publications on the general business environment, business policy making and business competition analysis. However, tackling the problems brought about by unstable trends in the macroeconomic environment is one of the major challenges faced by the NASME and its member firms.

(3).       THE NATIONAL ASSOCIATION OF CHAMBERS OF COMMERCE, INDUSTRY, MINES AND AGRICULTURE (NACCIMA):

The NACCIMA is a voluntary industrial association in Nigeria which brings together farmers, business merchants, manufacturers, mining experts, financiers, trade groups and industrialists together under its canopy for the purpose of forming a strong business network and platform so as to be able to achieve the primary objectives of protecting, improving and promoting the macro and micro business environments for maximum advantages. In the year 1988, the Lagos Chamber of Commerce which poses itself rightfully as the first Nigerian Chamber of Commerce was formed. However, the NACCIMA was established in the year 1960 to function as the head of all the Nigerian Chambers of Commerce. 

THE ROLES OF THE NACCIMA IN NIGERIA INCLUDE THE FOLLOWING:

·         It studies, conforms with and applies legislative and other relevant measures in the areas of mines, industry, agriculture and commerce in Nigeria.

·         It significantly contributes through its activities to the social and political development of the country.

·         It helps in the development and promotion of all economic activities in the private sector concerning agriculture, commerce, mines and industry.

·         The NACCIMA provides a framework for networking domestic and foreign business enterprises to boost more business opportunities and growth.

(4).       THE SMALL AND MEDIUM ENTERPRISES DEVELOPMENT AGENCY OF NIGERIA (SMEDAN):

The main purpose of establishing this agency in Nigeria was to foster the development and promotion of all micro, small scale and medium scale (MSME) business enterprises in Nigeria. Its core mission statement lays more emphasis on providing smooth access to business resources for small scale and medium scale enterprise owners, investors and entrepreneurs so that they can develop and grow quickly. Its vision statement underlines the need to put up a well-structured sector for the micro, small and medium scale enterprises so as to achieve an enhanced and sustainable economic development in Nigeria. It is strongly believed that the present alarming level of poverty in Nigeria will be alleviated and reduced to its barest minimum if only the SMEDAN will work out the way it was planned.  Just like other agencies and associations in the same category, the activities of the SMEDAN is negatively affected to a great extent by many factors including harsh trends in the national economy, incompetent leadership and nonchalant attitude displayed by the government.

(5).       THE NATIONAL POVERTY ERADICATION PROGRAMME (NAPEP):

This is an entrepreneurship Initiative introduced by the Federal Government of Nigeria a few years ago in a bid to totally eradicate poverty and empower the unemployed youths and citizen to start up their own small businesses and earn their daily living. Basically, 4 intervention schemes make up the Poverty Eradication Quest in Nigeria presently. Out of them all, the Youth Empowerment Scheme (YES) seems to be more promising for the economic empowerment of the Nigerian youths even though it is still performing below public expectations as a result of corrupt and ineffective practices. The objectives of instituting the YES encompasses different youth employment agenda which included skill acquisition programmes, job training schemes, creation of self-employment opportunities, wealth creation through enhanced means of income generation, development of the rural areas and an improvement in the national standard of living for the Nigerian Youths.

(6).       THE MICRO FINANCE INSTITUTIONS (MFIS):

Generally, Micro Finance banks are financial institutions just like the commercial banks and mortgage houses which uniquely operate to tailor solutions for the small scale credit and mini financing needs of farmers, rural men, craftsmen, artisans, organisations, small businesses, entrepreneurs and other groups and individuals. A few years back, a recapitalization directive issued out by the Central Bank of Nigeria (CBN) required all existing community banks then to upgrade their outfits into Micro Finance Banks (MCBs) and Micro Finance Institutions (MFIs) by increasing their capital base and also, meeting up and conforming with other new CBN guidelines with respect to their operations. So far so good, Micro Finance Banks in Nigeria are still trying their best to enlighten the poor masses of their services and affect their lives positively thus, defining a further accentuation of the national poverty level and worse still, culminating into a slowed-down economic growth and development in the country at large.

(7).       THE SMALL AND MEDIUM INDUSTRIES EQUITY INVESTMENT SCHEME (SMIEIS):

This is a commercial scheme in Nigeria which requires all Banking Institutions operating in Nigeria to map out 10% (ten percent) of their Annual Profits After Interest and Tax (PAT) for the purpose of promoting small scale and medium scale enterprises in Nigeria and also, for investments in Equity. This annual levy is collected yearly, pooled together as lump funds and invested into small and medium business enterprises. Thus, this shows that the Nigerian Banking sector supports the government and contributes significantly to the promotion of small and medium sized businesses in Nigeria in a bid to uplift the entrepreneurship practices, enhance the national standard of living and achieve a continuous economic growth and development in the country. However, the SMIEIS has strict laid-down procedures and requirements applicable to all potential beneficiaries so as to ensure that the funds are judiciously utilized and invested for maximum positive economic results.

Do you know other institutions and agencies that promote small scale businesses, medium scale enterprises and entrepreneurship ventures in Nigeria and also in your own country and other countries like USA, Japan, Canada, India and Ghana? Add them to this list using the comment box placed below. Now, you can partner with these associations and derive helpful business inputs and resources that will smoothly enhance your business operations and make your business more profitable.

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