President Bola Tinubu has ordered the disbursement of grants worth N150,000 to each participant of the expanded public Micro, Small, and Medium Enterprises (MSME) Clinic.
Vice President Kashim Shettima disclosed this on Thursday when he announced the opening of the third edition of the MSME clinic at the Ado Ekiti Trade Fair Complex, Ekiti State. The expansion of national MSME clinics is one of the Federal Government’s strategies to make doing business easier in Nigeria, according to a Presidential statement released on X.
The President said the program includes a series of business forums held in different cities across the country to provide “on-the-ground solutions to the challenges faced by MSMEs”.
According to the statement, the first and second versions of the clinic were launched earlier this year in Benue and Ogun states respectively. Speaking at the launch, Shettima said N150,000 is a complete grant that does not require repayment from the beneficiary. “I am pleased to announce that Mr. President has asked me to ensure that all the outstanding MSME exhibitors at the clinic today receive a grant of N150,000 each,” he said. “This is a grant pure and simple and the recipient will not need to repay it. We express our gratitude to our partners for their unwavering support.”
Vice President Shettima also revealed that similar clinics will be launched in Borno and Enugu states “before concluding with the presentation of the national MSME awards at the FCT on June 27, to commemorate World MSME Day of the United Nations”.
“Small businesses are the lifeblood of communities across the country and a strong pillar of stability during this critical period of our economic transformation,” said Shettima.
”We cannot claim to have excelled in our interventions if they are no longer our top priority. Our commitment to revitalizing the MSME sector ensures that these businesses continue to fulfill their essential buffer function.”
During his visit, Shettima also inaugurated a modern fashion and clothing center at Odua Textile Complex, Basiri, Ado Ekiti. The Vice President said that despite competing ideally with other global players, the center still has the potential to create about 48,000 jobs per year.
He described the center as an important step taken by the Tinubu administration to empower local industries. “It is capable of producing a wide range of fashion equipment, including military uniforms, and is competitive with any facility in the world,” he added.
“Equipped with modern machinery and technology, the center has huge job creation potential, with an average forecast of 48,000 jobs being created each year. With more than 300 state-of-the-art pieces of equipment, this center represents an important step in our efforts to empower local industries.”
Shettima also said he anticipates the facility will be managed by an authorized private entity, while federal and state governments will maintain vigilant oversight of its operations in this department.
