The Federal Government of Nigeria has allocated a total of N1.93 billion in grants to more than 38,000 small and medium-sized enterprises (SMEs) across Ebonyi and Delta States. This initiative is part of the government’s ongoing efforts to empower local businesses and promote economic growth.
In Ebonyi State, 14,776 businesses received a combined N738.8 million under the Presidential Grant Program. This funding is aimed at supporting the growth and sustainability of SMEs, fostering innovation, and creating jobs. Similarly, Delta State saw the distribution of N1.2 billion, benefiting 24,103 businesses. These grants are expected to help stimulate entrepreneurial activity, strengthen local economies, and create more opportunities for small business owners.
In addition to the domestic empowerment efforts, Nigeria has achieved significant success in international trade. Exports to France reached $2.4 billion in the first half of 2024, marking a strong economic milestone. This growth in export trade reflects the nation’s expanding presence in global markets, further supported by the government’s trade initiatives aimed at boosting Nigeria’s economic standing internationally.
These developments are a testament to the Federal Government’s commitment to nurturing the SME sector, which is seen as a key driver of job creation, innovation, and long-term economic prosperity. The grants are not just financial support; they serve as a catalyst for the growth of businesses that are the backbone of Nigeria’s economy. Moreover, the continued success in international trade highlights Nigeria’s potential to expand its influence in global markets, offering new opportunities for businesses across all sectors.
As the government continues to invest in the growth of SMEs and international trade, these efforts are expected to contribute significantly to Nigeria’s economic recovery and diversification in the coming years. The focus on both local and international markets ensures that Nigerian businesses are positioned for long-term success, both at home and abroad.
