New Delhi, 18 May, 2015 (ISSME): The Federal Government of Nigeria has approved the revised national policy on MSMEs last week. The policy will run from 2015 to 2025 and will be reviewed every four years. The policy is an outcome of series of consultations with all stakeholder institutions both in private and public sector. The National Council on MSME will take care of effective implementation and monitoring of the new policy. The new policy also includes a new classification for the different categories of MSMEs that would encourage entrepreneurship among women and youth. The policy deals with various areas of SME development like finance, institutional, legal and regulatory framework as well as skills development, technology, research, support services, marketing, infrastructure, etc. The first national policy on MSMEs in Nigeria was formed in 2007. (ISSME)