Again, FG gives N150,000 grants each to business owners

Again, respite has come the way of Micro, Small and Medium Enterprises (MSMEs) in Nigeria, with President Bola Ahmed Tinubu directing a disbursement of a federal government grant of N150,000 each to business owners in Enugu State.

This is just as Vice President Kashim Shettima has commissioned Nigeria's largest Ultra-Modern MSME Fashion Hub in Enugu State, saying President Tinubu's commitment to creating a business environment that provides incentives and opportunities to transform MSMEs into formidable enterprises is unyielding.

Senator Shettima disclosed the disbursement of the federal government grant on Thursday when he also launched the 5th Expanded National MSME Clinic in Enugu State.

The Expanded National MSME Clinics is one of the federal government's strategies for ease of doing business in Nigeria through a series of business fora organized across the country to provide on-the-spot solutions to challenges confronting MSMEs, with the first, second, third and fourth editions launched in Benue, Ogun, Ekiti and Jigawa States respectively earlier this year.

Speaking during the launch of the 5th Expanded National MSME Clinic in the Coal City, the Vice President noted that the N150,000, which is an outright grant that has no requirement for repayment, reflects the commitment of the Tinubu administration to nurturing MSMEs and fostering economic growth in the country.

The Vice President in a statement by his spokesman, Stanley Nkwocha, was quoted as saying, "Distinguished ladies and gentlemen, I am pleased to announce that His Excellency, President Bola Ahmed Tinubu, has mandated a grant of N150,000 each to be awarded to outstanding exhibiting MSMEs at today’s event.

"Let me assure you that this is an outright grant, with no requirement for repayment, reflecting our commitment to nurturing MSMEs and fostering economic growth," the VP stated.

Senator Shettima expressed satisfaction with the pace at which the federal government is driving the growth and survival of the nation's MSMEs, noting that it attests to the fact that "there is no thriving economy without robust small businesses."

He praised the policy choices of the Tinubu administration which, according to him, are based on the acknowledgement and foresight of the obstacles that threaten the nation's economic existence.

The VP said it is not possible for Nigeria to advance as a nation without fully maximizing the strength of its business community across regions and states.

"The only way we can achieve this is by standing united, from Abia to Zamfara, in pursuit of a shared objective. Small businesses account for 96% of all businesses in Nigeria and contribute more than 45% to our GDP. I am sure you understand what this means: without you, Nigeria would be nowhere," he declared.

VP Shettima further noted that the 5th Expanded MSME Clinic is a platform for direct engagement with regulatory agencies such as NAFDAC, BOI, CAC, SON, NEPC, SMEDAN, as well as financial institutions and business support organisations to ensure that MSMEs share their specific challenges with them on the spot and get instant solutions.

Earlier on arrival, the Vice President commissioned the ultra-modern Fashion and Garment Hub for MSMEs set up by the federal government in collaboration with the Enugu State government.

The Vice President also took time to inspect ongoing work at the Enugu International Conference Centre being constructed by the state government as well as the progress of work at the Enugu Command and Control Centre and the Digital Museum at the Government House. 

Speaking on the Enugu Fashion Hub, he said the business facility, along with other hubs established across the country, is a stepping stone to the desired economic height, even as he expressed the belief that the hub - the largest commissioned in Nigeria so far -will meet global standards and create about 48,000 jobs.

He continued: "Aside from standing as one of the largest we’ve commissioned, it is equipped with cutting-edge technology to support the fashion manufacturing cluster in Enugu State, boosting production capacity and enabling economies of scale.

"This hub has the potential to produce a wide array of fashion products, from military uniforms to school and corporate wear, meeting global standards and creating about 48,000 jobs in the process.

"We anticipate that the hub will be managed by a competent private sector entity, with federal and state governments providing vigilant oversight. Our hope is that this facility will redefine entrepreneurship and training, not only in Enugu State but across Nigeria."

VP Shettima commended Governor Peter Mbah of Enugu for the state's support in ensuring the establishment of the hub, noting that the federal government is looking "forward to partnering with Coal City State to make the Enugu Fashion Hub a centre of productivity and attraction."

Earlier in his address, Enugu State Governor, Dr Peter Mbah, thanked the federal government for its unwavering support to the government and people of Enugu State, manifested in landmark projects and initiatives that are impacting lives and livelihoods.

According to the Governor, Vice President Shettima's presence in Enugu to launch the MSME Clinics and commission the ultra-modern fashion and garment hub has confirmed his status as a champion of small businesses in the state and a strong commitment to the growth of the sector.

Outlining some of the benefits that small businesses will derive from participating in the Clinics, Dr Mbah said the initiative aligns with the economic vision of the state government in the sector.

The Governor said there is a convincing need to grow MSMEs in size and capacity given the potential for job creation, elevation of livelihoods and general economic transformation, noting that the newly commissioned fashion and garment hub will reinvigorate the entrepreneurship spirit in Enugu youths.

On his part, the Senate Minority Whip, Sen. Osita Ngwu, commended the partnership between the state and federal government, which he said has manifested in the commissioning of the fashion hub and the launch of the MSME Clinics, among many others.

He said the people of Enugu State have, since the inception of the Tinubu administration, benefited from a number of programmes across power, energy, education, among other sectors, stating that "indeed, the Tinubu administration has shown that government is for the people."

Also, Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, pledged the support of the parliament for programmes anchored by the executive.

He specifically praised VP Shettima's empathy towards the less privileged, stressing that leadership is really about identifying with the people and listening to the problems confronting them.

In his remarks, the Minister of Innovation, Science and Technology, Chief Uche Nnaji, who emphasised the importance of entrepreneurship training commended the efforts of the office of the Vice President for creating the enabling environment for small businesses to thrive through the Clinics.

He announced the commencement of a training programme for shoemakers across the country, stressing that skills acquisition is the way to go in closing the unemployment gap in the state.

In the same vein, the Chairman of the South East chapter of the National Employers Consultative Association (NECA) pledged the support of the group and the private sector for initiatives of the federal government, especially ones aimed at creating employment for young people.

Also present at the event were Deputy Governor of Enugu State, Barr Ifeanyi Ossai; some members of the National Assembly; Managing Director of Niger Delta Holding Company, Engr Jennifer Adighije, and representatives of MSME Clinic partners, among others.