A N150,000 grant would be given to each participant in the Expanded National Micro, Small, and Medium Enterprises (MSMEs) Clinic, per President Bola Tinubu’s directive.
Vice President Kashim Shettima revealed this on Thursday at the Trade Fair Complex, Old Iyin Road, Ado Ekiti, Ekiti state, during the opening of the third iteration of the MSMEs Clinic.
According to the News Agency, one of the federal government’s initiatives to facilitate doing business in Nigeria is the expansion of the National MSME Clinics.
It is a series of business forums held in several national locations to provide immediate solutions to problems facing MSMEs. The Vice-President explained that the N150,000 was an outright grant that does not require beneficiaries to repay.
” I am pleased to share that Mr President has directed me to ensure that all outstanding exhibiting MSMEs at the Clinic today receive a grant of N150,000 each.
” This is an outright grant, and the beneficiaries will not need to repay it. We extend our gratitude to our partners for their unwavering support,” he said.
Shettima disclosed that the same clinics would be launched in Borno and Enugu States ” before culminating in the National MSME Awards in FCT on June 27, to commemorate the United Nations World MSME Day.
He noted that small businesses “are the lifelines of communities across the nation and a strong pillar of stability during this critical phase of our economic transition”.
” We cannot claim to have excelled in our interventions unless they remain our top priority.
” Our commitment to revitalising the MSME sector ensures that these businesses continue to serve their essential buffering function,” he explained.
According to an earlier report by the News Agency, Shettima inaugurated the Ekiti State Ultra-Modern Fashion and Garment Hub at the Odua Textile Complex in Basiri, Ado Ekiti. She was greeted by Governor Biodun Oyebanji and other high-ranking government officials upon his arrival in the state. The Adire Ekiti Hub, a pet project of the state’s first lady, was also viewed by the vice president and his entourage.
Although it ideally competes with others worldwide, Shettima stated that the hub has the ability to generate an estimated 48,000 employment every year.
He called the hub an important step forward in the Tinubu administration’s efforts to support regional businesses.
” It boasts the capacity to produce a wide range of fashion gear, including military uniforms, and rivals any facility in the world.
” Equipped with modern-day machinery and technology, this hub holds immense potential for job creation, with projections estimating an average of 48,000 jobs annually.
” We anticipate that this facility will be managed by a competent private sector entity, while both federal and state governments will maintain vigilant oversight over its operations.
” With over 300 pieces of cutting-edge equipment, this hub represents a significant milestone in our efforts to empower local industries,” he said
In his remarks, Oyebanji expressed gratitude to the Vice-president for his wise counsel and support for his administration in the state. He noted that President Tinubu had, indeed, been a father, who has fulfilled all of his campaign promises.
He called on the political class in Ekiti to support his administration, noting that “it is only in unity that we can attract so much for the good of the our people.” Senate Leader, Sen. Opeyemi Bamidele commended the effective collaboration between the federal and state governments, culminating in the execution of the MSME focused projects.
He disclosed plans by his office to devote a portion of his constituency project funds in the coming year to support the development of MSMEs in the state. The Minister of Solid Minerals, Mr Dele Alake, assured the people of the state that their welfare and wellbeing were being prioritised by the Tinubu administration.
He urged Ekiti people to support the federal government regardless of the prevailing conditions, assuring that “the future is bright, as Nigeria is going through the challenges of economic restructuring and socio-economic re-engineering.”
