Vice President Yemi Osinbajo has inaugurated a micro, small and medium enterprises (MSMEs) shared facility at the Ogbunike leather trading cluster in Anambra.
This was contained in a statement issued by Laolu Akande, spokesman to the Vice President
Osinbajo stated this in a statement by Laolu Akande, his spokesperson, on Tuesday.
Osinbajo noted that the initiative would change businesses within and around the cluster, hugely increasing their output capacity.
“I am told this leather cluster has about 2000 stores with almost 30,000 MSMEs operating here. So, I have no doubt that this facility will be of immediate value to all of them,” he said.
“When asked, some of MSMEs operating here said they are able to produce 200 to 400 shoes a month, using manual processes. With this facility, the MSMEs located here would now have a potential monthly production of 96,000 shoe soles, 44,000 slippers, 44,000 shoes and 22,000 boots.
“This project will also help provide relative succour to MSMEs by also housing a one-stop office for MSMEs. This arrangement brings all relevant regulatory agencies under one roof to enable MSMEs requiring services or facing difficulties to access them with ease.”
Osinbajo pointed out that President Muhammadu Buhari-led administration views the southeast zone as a strategic industrial, trade hub, and a key player in Nigeria’s economic development.
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Osinbajo also unveiled the Awka 120MVA 132/33kV sub-station, stating that the project will contribute substantially to power capacity as well as improve the efficiency of businesses.
“The commitment of the Buhari administration to ensuring the completion of this Awka NIPP 132kV Grid Substation now provides a hitherto unavailable 70MW additional power capacity for driving industrial growth and boosting the economy of the state, with positive knock-on effects on employment and socio-economic upliftment for residents of the state,” he said.
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