Nigeria’s Micro, Small and Medium Enterprises (MSMEs) will once again have a break, with President Bola Tinubu directing business owners in Enugu State to receive a subsidy of NOK 150,000 per person from the Federal Government.
This comes as Vice President Kashim Shettima commissioned Nigeria’s largest ultra-modern MSME fashion hub in Enugu State, marking his administration’s commitment to create a business environment that provides incentives and opportunities to transform MSMEs into strong enterprises. It is the same as what I said that it is unwavering.
Shettima also disclosed the disbursement of the federal government subsidy while inaugurating the 5th Expanded National MSME Clinic in Enugu State on Thursday.
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, Vice President Shettima said the N150,000 grant, which is a full grant with no repayment obligation, 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 Tinubu has ordered the granting of a grant of N150,000 each to outstanding MSMEs exhibiting at today’s event.
“Let me 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.
Sen. Shettima expressed satisfaction at the pace at which the federal government is promoting the growth and survival of MSMEs in the country, saying it proves the fact that “no economy thrives without robust small and medium enterprises.” pointed out.
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 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.
Senator Shettima further added that the 5th Expanded MSME Clinic will work directly with regulatory authorities, financial institutions and business support organizations such as NAFDAC, BOI, CAC, SON, NEPC, SMEDAN, etc. to help MSMEs share their unique challenges. He pointed out that it is a platform to enable this. 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.
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.
