BREAKING: Massive Jubilation As Tinubu Gives Nigerians N150, 000 Two Days After Nigeria’s 64th Anniversary; SEE Details
The Federal Government of Nigeria under the administration of President Bola Tinubu has provided significant support to Micro, Small, and Medium Enterprises (MSMEs) in Enugu State, with President approving a grant of N150, 000 for each selected business owner.
This move aims to further stimulate economic growth through the empowerment of small businesses, which form the backbone of the Nigerian economy.
Vice President Kashim Shettima, while launching the 5th Expanded National MSME Clinic in Enugu, announced the grant, emphasizing that the funds are an outright gift, requiring no repayment. He reiterated the administration’ s unwavering commitment to nurturing MSMEs and fostering an environment where small businesses can thrive.
” These grants reflect the government’ s dedication to helping MSMEs grow. The administration understands the vital role that small businesses play in the country’ s economy. This is why we are focused on removing obstacles and creating opportunities for MSMEs across Nigeria, ” Vice President Shettima said.
The MSME Clinics are designed to address challenges faced by small businesses by providing them with direct access to regulatory bodies and financial institutions. With previous editions held in Benue, Ogun, Ekiti, and Jigawa States, the program has helped businesses overcome hurdles and operate more efficiently.
Launch Of Nigeria’ s Largest Fashion Hub
Another milestone event in Enugu was the inauguration of Nigeria’ s largest Ultra- Modern MSME Fashion and Garment Hub. This facility, commissioned by Vice President Shettima, is expected to create about 48, 000 jobs and boost the state’ s economy.
The hub, which is equipped with cutting- edge technology, will serve as a production center for a variety of fashion products, including military uniforms, school wear, and corporate clothing, all produced to meet global standards.
” This fashion hub is not just a state asset but a national one. It will enhance Nigeria’ s production capacity and help us compete on a global level in the fashion industry, ” said the Vice President. He added that the hub would be managed by a private entity with oversight from both federal and state governments to ensure sustainability.
Governor Peter Mbah of Enugu State expressed his appreciation to the Federal Government for its ongoing support, highlighting that such initiatives align with the state’ s vision of economic transformation. According to Governor Mbah, the hub will reinvigorate the entrepreneurial spirit of Enugu’ s youth, offering them opportunities for skills development and job creation.
Federal Government’ s Continued Commitment To MSMEs
During the event, Vice President Shettima emphasized the importance of small businesses, noting that they represent 96% of all enterprises in Nigeria and contribute over 45% to the country’ s GDP. He stressed that a thriving small business sector is essential for Nigeria’ s overall economic success. ” Without you, Nigeria would be nowhere, ” he said, addressing the MSME community.
The Vice President also took the opportunity to tour several key projects in Enugu, including the ongoing construction of the Enugu International Conference Centre and the Command and Control Centre, both of which are expected to enhance the state’ s economic and security infrastructure.
Praise For Government Initiatives
Senator Osita Ngwu, Senate Minority Whip, commended the Federal Government’ s commitment to supporting small businesses, particularly through its collaboration with Enugu State. He acknowledged the impact of several federal projects in the region, ranging from energy to education, and praised the Tinubu administration’ s focus on the welfare of the people.
Similarly, the Deputy Speaker of the House of Representatives, Benjamin Kalu, lauded Vice President Shettima’ s leadership, emphasizing the need for empathy and engagement in addressing the challenges facing ordinary Nigerians. He assured continued legislative support for initiatives aimed at fostering economic growth and reducing unemployment.
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Minister of Innovation, Science, and Technology, Uche Nnaji, also announced new training programs for shoemakers and other artisans, noting that skills development is critical to reducing unemployment and ensuring the growth of small businesses.
The MSME Clinics and the launch of the fashion hub in Enugu represent key steps in the Federal Government’ s broader strategy to create an enabling environment for businesses to flourish.
With direct engagement from regulatory agencies and financial institutions, small business owners can now access on- the- spot solutions to their challenges, making it easier for them to thrive and contribute to Nigeria’ s economic growth.