This Law establishes the Micro, Small and Medium Enterprises Development Agency. The Law specifies the following objects and functions of the Agency: co-ordination and promotion of the development or Micro, Small and Medium Enterprises in the State; facilitating strategic agricultural financing programmes for Micro, Small and Medium Enterprises; encouraging and supporting the extension of financial services to Micro, Small and Medium Enterprises in the State; entering into partnership with participating financial to facilitate the access to loans by the Micro, Small and Medium entrepreneurs at minimal rates of interest; providing entrepreneurial capacity building opportunities for micro, small and medium enterprises; increasing measures aimed at rural economic development, poverty alleviation and eradication, technology acquisition and adaptation, job creation and sustainable livelihood; facilitating and promoting the development of standard designs and quality assurance for machinery and equipment; promoting access to industrial infrastructure. Further matters covered by this Law include: power of the Board; appointment of other staff of the Agency and its functions; remuneration and qualification of staff; establishment of development fund account; investment by the Agency.
Nigéria · 2014-10-14