Vice President Kashim Shettima has stated that President Bola Tinubu’s administration is committed to creating a favourable environment for Micro, Small, and Medium Enterprises (MSMEs). Speaking at the 7th Expanded National MSME Clinic held in Akure, Ondo State, Shettima described MSMEs as central to the nation’s economic policy.
He announced that the federal government, FG, has provided unconditional grants of N250,000 each to successful entrepreneurs at the 7th Expanded National MSME Clinic held in Akure, Ondo State. The initiative is a key part of the government’s efforts to support Micro, Small, and Medium Enterprises (MSMEs) nationwide.
Shettima characterised the grants as “a gift from the Nigerian people” to local business leaders, emphasising that they are not loans. “We see you, we value you, and we believe in your journey,” he said.
He highlighted the critical role of MSMEs, which account for over 90% of Nigerian businesses, contribute more than 45% to the national economy, and employ over 60 million people. He stressed that empowering these businesses is vital for poverty alleviation and achieving national prosperity.
Shettima detailed several other government initiatives, including a N75 billion MSME Intervention Fund, a N50 billion Presidential Conditional Grant Scheme for one million nano businesses, and a N75 billion Manufacturers Fund offering manufacturers up to N1 billion in funding at a 9% interest rate.
Speaking, Ondo State Governor, Dr. Lucky Aiyedatiwa, praised the FG’s commitment to MSME development.
He noted that his administration’s 7-point agenda aligns with this goal and has already yielded positive results in various sectors.
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Furthermore, Ekiti State Governor, Biodun Oyebanji, also commended the programme. He stated that it represents a unique and impactful approach to connecting small business owners directly with regulatory agencies and financial institutions.
More so, the Special Adviser to the President on Job Creation and MSME, Temitola Adekunle-Johnson, confirmed the positive impact of previous clinics. Dignitaries, including the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, also voiced their support for the government’s initiatives.
Shettima, who also toured a product exhibition by local businesses, urged entrepreneurs to take full advantage of the opportunities presented by the clinics. He thanked the Ondo State government for its partnership and support for policies that promote innovation and enterprise.
