President Muhammadu Buhari says for any economy to grow and create jobs, an equally vibrant and successful small and medium enterprise sector is also needed.
This, he said, informed his recent signing of the Business Facilitation Bill into law.
The president stated this at State House, Abuja, on Thursday when he received the Governing Council and members of the Institute of Directors led by its President and Chairman, Dr Ije Jidenma.
He said: “I was particularly interested to learn that you not only cater to large corporations 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, in spite of the difficult times brought upon us by a variety of external shocks, done much to ensure the 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 MSMEs,” he said.
While congratulating the Institute on attaining the milestone of 40 years, Buhari noted its commitment to nation-building, stressing the values of transparency and good business ethics.
He urged all the stakeholders to recognise the noble roles that the Institute can play in the provision of the support base for the development of the economy.
“Let me congratulate the Institute on attaining this very important milestone of 40 years in existence.
”This is certainly a proud moment not just for the Institute but for the nation as it signifies your commitment towards the objective of improved corporate governance, ethical business practices, improved corporate governance and transparency.
“These values are not just important pillars in the private sphere. They are also the keys to success in governance in the public sector, where the people have handed to us in trust, the responsibility to lead, guide, and protect them.
“As our economy and, conversely, our private sector continues to grow and evolve, it behoves all stakeholders to recognise that such a resourceful institution exists.
”It is also equipped and capable of providing the necessary support and development for the country,” he said.
