President Bola Tinubu is presiding over a meeting of the Federal Executive Council (FEC) at the Council Chamber of the State House in Abuja, with a proposed national policy for small and medium-sized enterprises among the items expected to be considered.
The meeting began shortly after Tinubu arrived at the venue at 2:34 pm on Wednesday, October 28, accompanied by Vice President Kashim Shettima.
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Ministers of Defence, Foreign Affairs, the Federal Capital Territory and Aviation were among those reportedly absent from the meeting, according to observations by a correspondent at the State House.
A key item on the agenda is the proposed National Policy on Micro, Small and Medium Enterprises (MSMEs) for 2026 to 2030.
The policy is expected to support enterprise development and improve small businesses’ access to government procurement opportunities.
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, disclosed on Tuesday that the policy was awaiting FEC approval.
Odii spoke during the rollout in Abuja of a free digital training platform designed to help small businesses access government contracts.
He said the platform was intended to make government procurement more accessible to entrepreneurs and enable capable businesses to compete for public contracts under clear conditions.
“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,” Odii said.
He added that greater participation by small businesses in public procurement could expand the government’s pool of suppliers, provide enterprises with opportunities to grow and retain more economic value within Nigeria.
According to Odii, the proposed policy includes provisions to improve MSMEs’ access to markets, with public contracts identified as a route to enterprise growth, formalisation and increased local content.
“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,” he said.
The policy’s approval status and any decisions taken by the council were not confirmed in the report available at the time of publication.
The Federal Executive Council is the federal government’s principal body for considering and coordinating key policy decisions.
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Any formal approval of the proposed MSME policy would mark a further step towards its implementation.
Peculiar Adirika is a journalist and contributor to Freelanews.com, covering news, business, and public affairs.
