President Bola Tinubu has directed the disbursement of N150,000 grant to each participant of the Expanded National Micro, Small and Medium Enterprises, MSMEs.
Vice President Kashim Shettima, who disclosed this on Thursday while declaring open the third edition of the MSMEs Clinic at the Trade Fair Complex, Old Iyin Road, Ado Ekiti, Ekiti state capital said the beneficiaries are not required to repay the grant.
The expanded National MSME Clinics is one of federal government’s strategies for ease of doing business in Nigeria.
It is a series of business forum organized in different cities across the country to proffer on-the-spot solutions to challenges confronting MSMEs.
The first and second editions of the clinics were launched in Benue and Ogun states respectively earlier in the year.
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.
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“Our commitment to revitalizing the MSME sector ensures that these businesses continue to serve their essential buffering function,” he explained.
Shettima, who was received by Gov. Biodun Oyebanji and other top government officials, commissioned the Ekiti State Ultra-Modern Fashion and Garment Hub at Odua Textile Complex, Basiri, Ado Ekiti.
The Vice-President and his entourage also inspected the Adire Ekiti Hub, a pet project of the first lady of the state.
Shettima said while it competes ideally with others globally, the hub has the potential of creating an estimated 48,000 jobs annually.
He described the hub as a significant milestone by the Tinubu’s administration to empower local industries.
“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
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 prioritized 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.”
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