President Bola Tinubu is presiding over a meeting of the Federal Executive Council at the Council Chamber of the State House in Abuja, where members are expected to consider a new policy for small and medium-sized enterprises.
Tinubu arrived at the venue at 2:34 pm on Wednesday, accompanied by Vice President Kashim Shettima, shortly before the meeting commenced.
However, the Ministers of Defence, Foreign Affairs, the Federal Capital Territory and Aviation were among those absent from the meeting, according to observations by our correspondent.
One of the key items on the council’s agenda is a proposed National Policy on Small and Medium Enterprises, which is expected to guide the development of the sector between 2026 and 2030.
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria, Charles Odii, disclosed the pending policy on Tuesday while speaking at the launch of a free digital training platform aimed at improving small businesses’ access to government contracts in Abuja.
Odii said the agency supported the initiative, noting that it would help entrepreneurs access public procurement opportunities and expand their businesses.
“SMEDAN welcomes this partnership as the apex agency for MSME development. We see this portal as a practical step towards making government a more accessible market for entrepreneurs.
“When capable SMEs can compete for public contracts on clear terms, they gain avenues and experience, government broadens its supplier base, and more value stays in the local economy.
“This is fully consistent with the national policy on MSMEs. We are reviewing the national policy on SMEs right now and we are just awaiting the FEC approval for the policy, from 2026 to 2030, and the policy expressly provides for improved MSME participation in public procurement under its market access provisions, recognising public contracts as a strategic route for enterprise growth, formalisaton, and local content.”
