The Managing Director of Ore Industrial Park in Ondo State, Dr Femi Akinkuebi, on Thursday, said the park will continue to encourage the growth of the Micro, Small and Medium Enterprises (MSMEs) towards reducing unemployment and restiveness in the country.
Akinkuebi who made this known during the visit of Ondo State Chairman of Nigeria Association of Small and Medium Enterprises (NASME), Mr GreatSeyi Akintunde, to his office, said SMEs play important role in the economic and social development of the state.
Describing the park as the largest in the South-West, the MD said the derived benefits for artisans would also identify bottlenecks and bring about economic resurgence of the country, adding that government will give grants to MSMEs in the state.
According to him, “SMEs are known to have significant relevance to all world’s economies. In most parts of the world they constitute about 90 per cent of all business enterprises while in Nigeria, SMEs contribute 48 per cent of national GDP, and it also account for 96 per cent of businesses and 84 per cent of employment.”
He explained that the Ondo state government, as part of its huge commitment to ensuring the growth of MSMEs for economic development, has dedicated over 50 hectares for Small and mid-size enterprises (SMEs).
“There’s a need for us to collectively change the narrative from a civil servant state to an emerging industrial giant, this we can achieve by using our numerous resources to transform the State to a manufacturing hub,” Akinkuebi said.
The Chairman of NASME, Akintunde while speaking commended the state government for dedicating over 500,000sqm to SMEs/MSMEs, assuring the state government of the body’s readiness to partner with the park.
He said the SMEs contributes about 50 per cent of Nigeria Gross Domestic Product (GDP) and 80 per cent of the country’s total employment, saying the MSME sector is the engine of growth of any economy, contributing to its development, job creation and export, amongst others.
Akintunde said: “The opportunity here is massive compared to Akure Mini industrial park or any other industrial park in the South-West, every serious investor should be here.”
He, however, said that supporting entrepreneurs and small businesses by creating opportunities for MSMEs to thrive is essential for increasing productivity, creating jobs, and boosting our economy.
Some of the Plants who have stated business activities on the park includes the Allescharis, LPG and Denki Cables.
The Ore Industrial Park is a Public-Private Partnership (PPP) between the Ondo State Government and Hessmac Industry Limited, which is established on a massive 1000 hectares of eco-friendly and industrially zoned land.
The Park also had its own installed 30MW trio-fuel independent power plant which is dedicated to providing power in the park.
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