The Federal Government has provided N250,000 unconditional grants to selected outstanding micro, small, and medium enterprises (MSMEs) in Ondo State as part of its drive to empower local businesses.
Gatekeepers News reports that the announcement was made by Vice-President Kashim Shettima during the launch of the 7th expanded national MSME clinics in Akure, Ondo State on Tuesday.
The initiative is a key component of President Bola Ahmer Tinubu’s economic policy, which prioritises creating a supportive environment for MSMEs.
These enterprises, which make up over 90 percent of Nigeria’s businesses, contribute more than 45 percent to the national economy and employ over 60 million people.
The Ondo MSME clinic offers small businesses the opportunity to engage directly with regulatory agencies, financial institutions, and business support organisations.
The Federal Government has also rolled out other support measures, including the N75 billion MSME Intervention Fund, the N50 billion Presidential Conditional Grant Scheme, and the N75 billion Manufacturers Fund.
The Ondo State Government expressed its alignment with the federal initiative, highlighting that its seven-point agenda prioritises MSME growth across sectors such as agriculture, manufacturing, and fashion.
The event also drew participation from key government officials, traditional rulers, and stakeholders in the MSME sector.
