President Bola Ahmed Tinubu has directed business owners in Enugu State to receive a subsidy of NOK 150,000 per person from the Federal Government, bringing another reprieve to Nigeria’s Micro, Small and Medium Enterprises (MSMEs). It was done.
This comes as Vice President Kashim Shettima commissioned Nigeria’s largest “ultra-modern MSME fashion hub” in Enugu State, Tinubu to create a business environment that provides incentives and opportunities to transform MSMEs into strong enterprises. As I said, the President’s commitment is unwavering.
Shettima disclosed the disbursement of the federal government grant on Thursday while inaugurating the 5th Expanded National MSME Clinic in Enugu State.
The expanded National MSME Clinic is one of the Federal Government’s strategies for ease of doing business in Nigeria and will provide on-the-ground solutions to challenges faced by MSMEs through a series of business forums organized across the country. Provide. The fourth edition was launched in Benue, Ogun, Ekiti and Jigawa states respectively earlier this year.
Speaking at the launch of the 5th Expanded National MSME Clinic in Coal City, the Vice President said the N150,000 grant, which is a full grant with no obligation to repay, reflects the Tinubu administration’s commitment to fostering and nurturing MSMEs. He said he is doing so. economic growth of the country.
“Respected ladies and gentlemen, I am pleased to announce that His Excellency, President Bola Ahmed Tinubu, has ordered a subsidy of N150,000 each to outstanding MSMEs exhibiting at today’s event.
“We would like to assure you that this is a full grant with no repayment obligation and reflects our commitment to fostering MSMEs and promoting economic growth,” the Vice President said.
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Shettima expressed satisfaction at the pace at which the federal government was promoting the growth and survival of MSMEs in the country, saying this was a testament to the fact that “without robust small and medium enterprises, there is no economic prosperity.” pointed out.
According to him, he commended the Tinubu administration for its policy choices based on foresight and recognition of the obstacles threatening the economic existence of the country.
The Vice President said it would be impossible for Nigeria to develop as a nation without harnessing the full power of the business community across regions and states.
“The only way we can achieve this is by coming together from Abia to Zamfara to pursue a common goal. Small and medium-sized enterprises represent 96% of all businesses in Nigeria and contribute over 45% of GDP. I am sure you understand what this means. Nigeria is nowhere without you,” he declared.
Vice President Shettima further said that the 5th Expanded MSME Clinic will work directly with regulators, financial institutions and business support organizations such as NAFDAC, BOI, CAC, SON, NEPC, and SMEDAN to help MSMEs address their unique challenges. He said it is a platform for sharing. Get instant solutions on the spot.
On his arrival, the Vice President commissioned the operation of an ultra-modern fashion and clothing hub for MSMEs set up by the Federal Government in collaboration with the Enugu State Government.
The Vice President also took time to inspect the ongoing works at the Enugu International Conference Center being constructed by the state government, as well as the progress of works at the Enugu Command and Control Center and the Digital Museum at the Government House.
Speaking on the Enugu Fashion Hub, he expressed his belief that it is the largest hub ever built in Nigeria, while expressing his belief that the business facility will be similar to other hubs established across the country. said that it is a stepping stone to desired economic heights. It will meet global standards and create approximately 48,000 jobs.
He further added, “Besides being the largest we have ever commissioned, it is equipped with state-of-the-art technology to support the fashion manufacturing cluster in Enugu State, increasing production capacity and achieving economies of scale.” I’m doing it.
“This site has the potential to produce a wide range of fashion products, from military uniforms to school and corporate attire, meeting global standards and creating approximately 48,000 jobs in the process.
“We expect this hub to be managed by a competent private sector and closely monitored by the Federal and State Governments. Our hope is that this facility will serve not only Enugu State but all of Nigeria. It’s about redefining entrepreneurship and training.”
Vice President Shettima commended Governor Peter Mba of Enugu State for the support of the state in ensuring the establishment of the hub, adding that the Federal Government “is committed to making the Enugu Fashion Hub a center of productivity and attraction. We look forward to partnering with Coal City State.”
The Governor of Enugu State, Mr. Peter Mba, began his address by thanking the Federal Government for its unwavering support to the Enugu State government and people, manifested in ground-breaking projects and initiatives that impact lives and livelihoods. expressed his intentions.
According to the governor, Vice President Shettima’s presence in Enugu to launch an MSME clinic and commission an ultra-modern fashion and clothing hub underscores the state’s status as a champion of small and medium enterprises and this The company’s strong commitment to the growth of the field was confirmed.
Dr Mbah outlined some of the benefits that small and medium-sized businesses would derive from participating in the clinic, saying the initiative was in line with the state government’s economic vision in this area.
The Governor said there was a compelling need to increase the scale and production capacity of MSMEs, given the potential for job creation, livelihood improvement and general economic transformation, adding He noted that the goods hub would reinvigorate the entrepreneurial spirit of Enugu’s youth.
Meanwhile, Senate Minority Leader Osita Ngwu praised the partnership between the state and the federal government, which he said was particularly evident in the construction of a fashion hub and the launch of an MSME clinic.
He said that since the inauguration of the Tinubu administration, the people of Enugu State have benefited from a number of programs across sectors such as power, energy and education, adding: “Indeed, the Tinubu administration has ensured that government is for the people. We have shown that.” ”
The Deputy Speaker of the House of Representatives, Benjamin Kalu, also pledged Parliament’s support for the government’s programs.
He particularly praised Vice President Shettima’s empathy towards the underprivileged, stressing that leadership is really about being one with the people and listening to the problems they face.
In his remarks, Minister of Innovation, Science and Technology Uche Nnagy emphasized the importance of entrepreneurship training and praised the efforts of the Office of the Vice President to create an enabling environment for small and medium-sized enterprises to grow through the clinic.
Related article: Tinubu focuses on domestic issues, Shettima heads Nigeria delegation to UNGA – Presidency
He announced the launch of a training program for shoemakers across the country, stressing that skill acquisition is the best way to close the unemployment gap in the state.
Similarly, the president of the Southeastern chapter of the National Employers Council (NECA) pledged his organization’s and the private sector’s support for the federal government’s efforts, particularly those aimed at creating jobs for youth.
The event was also attended by the Deputy Governor of Enugu State, Ifeanyi Ossai. Some members of parliament. Managing Director of Niger Delta Holding Company, Ms. Jennifer Adigije, representatives of MSME clinic partners and others.
Stanley Nkwocha
Senior Special Assistant to the President for Media and Communications
(Vice President’s Office)
October 3, 2024
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