Mr. Solomon Aderoji is the Pastor at Christ Gospel Apostolic Church Worldwide, Lagos as well chairman of Nigerian Association of Small and Medium Enterprises (NASME), Lagos Chapter.
He had worked in many financial institutions including United Bank of Africa ( UBA), 1983 - 1989; Equatorial Trust Bank that merged with Sterling Bank (1998 - 2000); Credit Management Consulting (CMC) - an international management firm as head of investment and structural projects (2001 - 2003). In Inter-Trust Finance Company, he was the general manager and CEO between 2003 and 2005.
Pastor Aderoju team up with other professional colleagues to set up the Sakod Imperial Resources - a financial management, business consulting and agroallied marketing and exporting firm.
He spoke with The on problems of small and medium scale industries in Nigeria. Excerpts:
MSME means Micro, Small and Medium Enterprises. Micro enterprise has very small scale business structure with less than ten staff strength and asset base of base of ten million Naira excluding land and building.
In the same vein, small enterprise is a small business that has between ten to forty nine staff with asset base of eighty million Naira excluding land and building. Medium enterprise has between 60 and 499 staff with an asset base of over 500 million Naira.
More importantly, we emphasize more on the staff strength than asset base because man is more important than material possession. So you may have staff of up to fifty persons we consider you first than someone who less number but has more in asset. This is because we deal more on staff and employment.
Micro, Small and Medium Enterprises (MSMEs) generate employment. Over 96% of businesses in Nigeria are in these category of business. Ninty percent of manufacturing in Nigeria is MSME.
Secondary, they reduce crime rate in the country. You can imagine when companies fold up, there is upsurge of crime wave in the society. In addition, they serve as source of raw materials by contributing 47% of the GDP of the economy.
There are many groups that sprung up to take care of small and medium scale enterprises - NASMEs -which has its headquarters in Lagos. Then there is Nigerian Association of Small Scale Industries -NASSI. The other groups include Association of Micro Enterprises of Nigeria (AMEN), Association of Small Business Owners of  Nigeria (ASBON).
National Association of Small and Medium Enterprises NASME started in 1976 as the foremost business management organization in Nigeria. With over 400 members NASME got its Lagos branch in 2000. Today, it is in 31 states. Soon the remaining four states left out will soon join.
My tenure as chairman of Lagos branch started in January 2016. My first tenure of two years ended in December 2017. I am now in my second tenure which began in January 2018 and will end in December 2019.
(To be continued).