MSMEs: Ogun Adopts Afreximbank’s Template on Ease of Doing Business
CHIGOZIE AMADI
The Ogun State Governor, Dapo Abiodun has announced a three-pronged approach to improving the ‘ease of doing business’ in the state, driven by the mission to boost Micro, Small and Medium-scale Enterprises (MSMEs) growth.
The approach include creating access to finance; simplifying land acquisition and registration of business premises as well as improving on necessary infrastructure within the state.
It stressed that this was in line with the Afreximbank’s template, during a panel discussion at a two-day SMEs development workshop and stakeholders’ engagement programme organised by the bank in partnership with Woodhall Capital in Lagos.
Speaking during the panel discussion, the Special Adviser to the Governor on Investment, Sola Arobieke highlighted ‘transformative’ impacts of reforms undertaken by the Abiodun-led government to stimulate the economy of the state.
Arobieke, who is also the Deputy Director General of the Ogun State Investment Promotion and Facilitation Agency (OgunInvest), declared that the approach of government on MSMEs had boosted the economy.
According to him, it has also helped the commerce, especially among the operators of MSMEs in the state which aligns with Afreximbank template on MSMEs growth.
She said that streamlined regulations, improved access to finance and enhanced infrastructure had empowered local entrepreneurs and driven economic growth.
The special adviser added that OgunInvest was structured to provide One-Stop Investment Services (OSIS) and guidance on accessing tax incentives at both the federal and state levels.
Arobieke explained the state government had also introduced initiatives such as revenue harmonisation and tax reforms to further streamline operations of MSMEs, adding that with the policies of government on tax reforms, Pay-As-You-Earn (PAYE) and other taxes can now be conveniently paid online.
Highlighting OgunInvest’s role in fostering a conducive business environment, the special adviser said that OgunInvest serves as a centralised hub for businesses entering the state.
She added: “Our aim is to simplify the entrepreneurial process by providing streamlined access to land, permits, and essential Government services.”
Also speaking at the forum, the Executive Vice President of Afreximbank’s Intra-African Trade and Export Development Division, Awani Kanayo, highlighted the bank’s dedication to fostering SMEs growth through more than just financing.
She acknowledged Afreximbank’s role in strengthening SMEs to produce competitive, export-grade products that meet global standards, thereby unlocking new trade opportunities and positioning local businesses for international expansion.
Founder of Woodhall Capital, Mojisola Hunponu-Wusu, highlighted that supporting SMEs in reaching their full potentials was vital for building a prosperous Africa.
The Managing Director of Export Development, Afreximbank, Oluranti Doherty, emphasised the importance of boosting SMEs’ participation in export value chains.
