The Minister of State for Industry, Trade and Investment, Amb. Maryam Yalwaji Katagum has said that Government’s shift to non-oil sector is the smart step in the right direction for the growth of the nation’s economy.
The Minister stated this when a delegation from the Union Bank of Nigeria Plc led by the Managing Director/ Chief Executive Officer, Mr Mudassir Amray paid her a visit in Abuja.
She explained that the Federal Government’s interest in moving away from the oil and gas to non-oil sector was the smart step while more partnership and resources should be deployed towards that direction
The Minister advised the bank to partner with State Governments who would in turn make funds accessible through their Microfinance institutions to Micro, Small and Medium Enterprises (MSMEs) particularly the nano enterprises .
Amb. Katagum expressed joy that the Union Bank of Nigeria plc is already doing a lot with women in MSMEs, Small and Medium Enterprises Development Agency of Nigeria, Bank of Industry while she also encouraged the bank to collaborate with the Industrial Training Fund in area of skill acquisition for MSMEs.
She added that the bank should include E- commerce and financial inclusion in its operations.
Director Trade Department in the Ministry, Mr. Suleiman Audu in his contribution posited that representatives of the Ministry and Union Bank of Nigeria Plc should meet at the technical level to brainstorm on identified areas so as to come up with an actionable plan.
Earlier in his remarks, the Managing Director/Chief Executive Officer , Union Bank of Nigeria Plc, Mr. Mudassir Amray stated that the purpose of their visit was to reintroduce the bank to the Ministry as well as seek for more collaboration, stating that, the bank is rightly positioned to serve the country.
The Managing Director sought the support of the Ministry and its Agencies in order to provide them with insights on areas of collaboration.
In a related development, the Minister met with a team from Frandis -Franchisers and Distributors Forum led by the founder, Mr. Tayo Adedugbe , in which she expressed her joy over the adoption of franchise model for the expansion of Nigeria’s MSMEs.
She called for adequate public enlightenment to create awareness and foster more collaboration with other relevant Agencies of Government.