Deji Elumoye in Abuja
Vice President Kashim Shettima has declared that the administration of President Bola Tinubu is building a sustainable, enterprise-led Nigeria, where MSMEs are improving livelihoods through the prosperity that is created in targeted infrastructure projects, business-support grants, and economic reforms.
Shettima, who spoke yesterday in Abuja during the 8th National MSME Awards, noted that the administration is building an entire ecosystem that nurtures innovation, provides essential infrastructure, and removes barriers that have historically held back small businesses in Nigeria.
Represented by Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, the Vice President urged winners of the awards and every Nigerian entrepreneur to keep building, assuring them of government’s support.
“Nigeria needs your ideas, your jobs, and your leadership. I have no doubt that the federal government, along with state governments and our private-sector partners, will continue to build an enterprise-led nation where creativity is rewarded, small businesses grow into conglomerates, and prosperity is shared by all,” he declared.
Shettima described small businesses as the engine room of the country, noting that they improve the livelihoods of the citizens and transform communities through the prosperity they create.
“Ninety per cent of all Nigerian businesses are MSMEs. They are the largest employers of labour in this country, providing jobs for over 60 million of our people. Through bold and innovative ideas, and through sweat and courage, our MSMEs are improving the livelihoods of Nigerians and transforming our communities through the prosperity they create,” he explained.
Outlining some of the successes recorded so far, Shettima said since 2023, the Expanded National MSME Clinics have partnered with state governments to bring the clinics across all six geo-political zones.
He said the Clinics enabled small business owners to engage directly with regulatory agencies, financial institutions, and business support organisations, while receiving on-the-spot solutions to their challenges.
According to him: “We have institutionalised 21 state-of-the-art Shared Infrastructure Facilities, providing affordable access to high-speed internet, modern machinery, and collaborative spaces, from digital hubs for our tech innovators to shared production spaces for our fashion designers, and these hubs have supported the creation of 650,000 jobs.
“On the question of financial access, we have moved with deliberate force. Through the ₦75 billion MSME Intervention Fund and the ₦50 billion Presidential Conditional Grant Scheme, we have expanded the pool of capital available to our enterprises. Through the Development Bank of Nigeria, we have disbursed ₦874 billion to approximately 751,000 women and youth led MSMEs.
“We have provided over ₦394.88 billion in financing to export-oriented enterprises through the Nigerian Export-Import Bank. And under the Skill-Up Artisans programme, we have trained over 165,000 artisans and equipped them with the resources to flourish.”
On the book launched at the event titled, “Building Nigeria, Empowering MSMEs: A Compendium of the Federal Government’s Initiatives and Interventions for Nigerian MSME Growth,” the Vice President explained that many of the administration’s efforts to support MSMEs are carefully documented in it.
