Stakeholders in the Micro, Small and Medium Enterprises (MSMEs) sector have validated the draft bill seeking to establish the Ogun State Enterprise Development Agency (OGSEDA), clearing the way for its transmission to the Ogun State House of Assembly for legislative consideration and passage into law.
The validation was carried out at a Stakeholders’ Engagement Meeting on the draft bill organised by the Ogun State Government in collaboration with the German Agency for International Cooperation (GIZ) in Abeokuta.
Speaking at the event, the Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela, described the validation exercise as a testament to stakeholders’ confidence in the bill-drafting process.
Represented by the Senior Special Assistant to the Governor on Industry, Trade and Investment, Mr. Sunday Oyesanya, the Commissioner said the State Government had adopted an inclusive approach that enabled relevant stakeholders to make valuable contributions, resulting in a more comprehensive and responsive bill.
“The validation exercise is aimed at jointly ratifying the various inputs received from our strategic partners and stakeholders as part of the consultative process. This is to ensure that the final legislation passed by the Ogun State House of Assembly is practical, responsive to current realities and capable of driving enterprise development across the State through the agency,” he said.
In his remarks, the Technical Lead, OGSEDA, Dr. Olusegun Dada, said the validation marked a major milestone in the agency’s institutionalisation process.
He disclosed that efforts would now be directed towards securing the smooth passage of the bill into law by July 2026 urging stakeholders to actively participate in the public hearing when the bill is presented to the State House of Assembly.
Earlier, the Component Head of GIZ-SEDIN, Mr. Akinropo Omoware, noted that the validation exercise had placed Ogun State on course to join the league of States with dedicated agencies focused on MSME development.
Also speaking, the Alternate Chair, Employability and Benchmarking Committee and Technical Coordinator, ICSS Centre for Entrepreneurial Studies, Federal University of Agriculture, Abeokuta (FUNAAB), Prof. Iyabode Kehinde, said the proposed law would strengthen MSME development and contribute significantly to poverty reduction.
She urged stakeholders to support the passage of the bill and advised small business owners to position themselves to take advantage of the opportunities the agency would provide, particularly in the areas of market access, funding and enterprise support.
A representative of SMP Business School, Mr. Lateef Oloyede, expressed confidence that the establishment of OGSEDA by law would boost the growth and sustainability of MSMEs by addressing entrepreneurs’ needs and creating a more supportive business environment.