Micro, Small, and Medium Enterprises (MSMEs) in Nigeria received a significant boost with President Bola Ahmed Tinubu directing the disbursement of a N150,000 federal government grant to business owners in Enugu State. This announcement was made by Vice President Kashim Shettima during the launch of the 5th Expanded National MSME Clinic and the commissioning of Nigeria’s largest ultra-modern MSME Fashion Hub in Enugu.
Speaking at the event, Vice President Shettima emphasized President Tinubu’s commitment to creating a supportive business environment for MSMEs, aimed at transforming them into formidable enterprises. The grant, which is an outright award with no repayment requirement, reflects the administration’s commitment to nurturing MSMEs and driving economic growth.
“This is an outright grant, reflecting our dedication to fostering MSMEs and promoting economic development,” said Shettima.
The Expanded National MSME Clinic, designed to address challenges faced by small businesses, has previously been held in Benue, Ogun, Ekiti, and Jigawa states. At the event, Shettima stressed that robust MSMEs are crucial for a thriving economy, noting that they account for 96% of businesses in Nigeria and contribute over 45% to the GDP.
The Vice President also commissioned the Enugu Fashion and Garment Hub, the largest of its kind in the country. Equipped with cutting-edge technology, the hub aims to support fashion manufacturing, boost production capacity, and create 48,000 jobs. Shettima stated, “This hub will meet global standards, producing everything from military uniforms to school and corporate wear.”
Governor Peter Mbah of Enugu expressed gratitude for the federal government’s support, stating that the hub would revitalize entrepreneurship among Enugu’s youth. He also praised the alignment of the MSME Clinic with the state’s economic vision.
The event also saw endorsements from various officials, including Senate Minority Whip Senator Osita Ngwu and Deputy Speaker of the House of Representatives Hon. Benjamin Kalu, who praised the administration’s efforts in supporting MSMEs and reducing unemployment through entrepreneurship training.
