Vice President Kashim Shettima on Thursday inaugurated Nigeria’s largest ultra-modern MSME fashion hub in Enugu State.
This comes as the Federal Government approved the disbursement of a subsidy of N150,000 to each of an as-yet-unknown number of business owners in the state.
Shettima said President Bola Tinubu is committed to creating a business environment that provides incentives and opportunities to transform MSMEs into resilient and powerful businesses.
Mr. Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, said this in a statement signed on Thursday titled, “Once again, FG will provide a subsidy of N150,000 to each business owner.” revealed that.
Mr. Nkwocha said the expansion of the nationwide MSME clinic will facilitate ease of doing business in Nigeria through a series of business forums organized nationally to provide on-the-ground solutions to challenges faced by MSMEs. said that this is one of FG’s strategies. Earlier this year, versions were released in Benue, Ogun, Ekiti and Jigawa states.
Speaking at the launch, the Vice President said the N150,000 grant, which is a full grant with no repayment obligation, reflects Tinubu’s commitment to fostering MSMEs and promoting economic growth in the country.
“Respected ladies and gentlemen, I am pleased to announce that His Excellency President Bola Tinubu has ordered the granting of a grant 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.
Mr. Shettima expressed satisfaction at the pace at which the FG is promoting the growth and survival of MSMEs in the country, pointing out that this proves the fact that “without robust small and medium enterprises, there is no economic prosperity.” did.
According to him, he commended the Tinubu administration for its policy choices, which he said were based on foresight and recognition of the obstacles threatening the economic existence of the country.
The Vice President said Nigeria cannot develop as a nation without harnessing the full power of its business community across regions and states.
“The only way we can achieve this is by coming together from Abia to Zamfara to pursue common goals.
“SMEs make up 96 per cent of all businesses in Nigeria and contribute over 45 per cent to GDP. I am sure you understand what this means. Without you, Nigeria would be nowhere. No,” he declared.
Mr. Shettima further added that the 5th Expanded MSME Clinic is a platform for direct engagement with regulatory authorities, financial institutions and business support organizations such as NAFDAC, BOI, CAC, SON, NEPC, SMEDAN, etc., to help MSMEs address their unique challenges. He pointed out that this is to ensure that the information can be shared. Get instant solutions on the spot.
On his arrival, the Vice President commissioned the establishment of an ultra-modern fashion and clothing hub for MSMEs set up by FG in collaboration with the Enugu State Government.
He 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 Digital Museum at the Government House.
Speaking on the Enugu Fashion Hub, he expressed the belief that it is the largest hub ever built in Nigeria, while expressing the 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 are hopeful that this hub will be managed by a capable private sector and closely monitored by the Federal and State Governments. I hope it will be redefined.”
Mr. Shettima commended Governor Peter Mba for the state’s support in ensuring the establishment of the hub, adding that the Federal Government “is committed to supporting Coal City State to make Enugu Fashion Hub a center of productivity and attraction.” We look forward to partnering with them.”
Mr. Mbaha opened his address by thanking the FG for its unwavering support to the Enugu State government and people, manifested in ground-breaking projects and initiatives that are impacting lives and livelihoods.
According to the governor, Mr. Shettima’s presence in Enugu to launch a clinic and commission an ultra-modern fashion and clothing hub cemented his status as a champion of small businesses in the state and the sector. The company’s strong commitment to growth has been 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.
In his speech, Deputy Speaker Benjamin Cull pledged Congress’ support for the government’s programs.
He especially praised Shettima’s empathy towards the underprivileged and stressed that leadership is actually about identifying with people and listening to the problems they face.
Also underscoring the importance of entrepreneurship training, Minister of Innovation, Science and Technology Uche Nnaji praised the efforts of the Office of the Vice President to create an enabling environment for SMEs to grow through the clinic.
He announced the launch of a training program for shoemakers across the country, emphasizing that skill acquisition is key to closing the state’s unemployment gap.
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.
