President Bola Ahmed Tinubu has instructed that N150,000 grant should be disbursed to each participant of the expanded national micro, small, and medium enterprises (MSMEs) clinic.
Gatekeepers News reports that the Vice-President, Kashim Shettima disclosed the information on Thursday while declaring open the third edition of the MSMEs clinic at the trade fair complex in Ado Ekiti, Ekiti state.
According to a statement posted by the presidency on X, the expanded national MSME clinics are one of the federal government’s strategies to make doing business easy in Nigeria.
The programme is a series of business forums organised in different cities across the nation to proffer on-the-spot solutions to challenges confronting MSMEs.
The statement added that the first and second editions of the clinics were launched in Benue and Ogun states respectively earlier this year.
Shettima who spoke at the launch said the N150,000 was an outright grant that does not require beneficiaries to repay.
He said, “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.”
Also, 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, which will be done to commemorate the United Nations (UN) World MSME Day.
He said, “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.”
Shettima also inaugurated the ultra-modern fashion and garment hub at Odua Textile Complex, Basiri, Ado Ekiti during his visit.
He said while it competes ideally with its likes globally, the hub has the potential to create an estimated 48,000 jobs annually.
The Vice President described the hub as an important milestone by the president’s administration as a way of empowering local industries.
He added, “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.”
“With over 300 pieces of cutting-edge equipment, this hub represents a significant milestone in our efforts to empower local industries.”
In addition, Shettima stated that he awaits the facility being managed by a competent private sector entity, while federal and state governments will oversee its operations.
