The Federal Government on Tuesday disbursed ₦250,000 each in unconditional grants to outstanding small business owners in Ondo State, as Vice President Kashim Shettima launched the 7th edition of the Expanded National Micro, Small and Medium Enterprises (MSME) Clinics in Akure.
The grants, according to the Vice President, are a practical demonstration of President Bola Ahmed Tinubu’s commitment to building a thriving and inclusive economy by empowering grassroots entrepreneurs.
“This is not a loan. It is a gift from the Nigerian people, through their government, to the champions of local industry. We see you, we value you, and we believe in your journey”, Senator Shettima declared at the event, which attracted state governors, traditional rulers, and business stakeholders.
Describing MSMEs as the “silent architects of survival” and “the pulse of every community,” the Vice President said their empowerment remains central to the economic policy of the Renewed Hope administration, especially as they account for over 90 percent of businesses in Nigeria, contribute more than 45 percent to GDP, and employ over 60 million Nigerians.
“This administration is deliberate in walking the talk, and one of the ways we do so is through platforms such as the MSME Clinics, conceived to draw the Federal Government closer to the creators of jobs, the innovators, the dreamers who make things happen in our communities,” he added.
The MSME Clinics, initiated to provide direct interface between small businesses and relevant government agencies, also serve as platforms for problem-solving and partnership building, Shettima said.
According to a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, he noted that the Ondo edition offers small business operators a unique opportunity to engage directly with regulators, financial institutions, and support organisations.
In addition to the ₦250,000 grants for exhibiting MSMEs at the Clinics, the Vice President highlighted other federal interventions under the Tinubu administration.
These include the ₦75 billion MSME Intervention Fund administered by the Bank of Industry; the ₦50 billion Presidential Conditional Grant Scheme targeting one million nano businesses across all 774 local government areas; and the ₦75 billion Manufacturers Fund that enables manufacturers to access up to ₦1 billion in loans at a 9 percent interest rate.
“These interventions are not theories or wishful thinking. They are real-time, face-to-face, problem-solving solutions for small business challenges,” Shettima said.
He urged small business owners to take full advantage of the Clinics by engaging the agencies present, asking questions, and leveraging the platforms to elevate their enterprises.
The event also featured a tour of a product exhibition by MSME operators from across Ondo State and beyond, led by Vice President Shettima and accompanied by Governor Lucky Aiyedatiwa of Ondo State, Governor Biodun Oyebanji of Ekiti State, and other dignitaries.
In his remarks, Governor Aiyedatiwa reiterated his administration’s alignment with the federal government’s MSME agenda. He said Ondo’s seven-point development plan places strong emphasis on empowering small businesses, with successes recorded in agriculture, fashion, and light manufacturing.
The Federal Government on Tuesday disbursed ₦250,000 each in unconditional grants to outstanding small business owners in Ondo State, as Vice President Kashim Shettima launched the 7th edition of the Expanded National Micro, Small and Medium Enterprises (MSME) Clinics in Akure.
The grants, according to the Vice President, are a practical demonstration of President Bola Ahmed Tinubu’s commitment to building a thriving and inclusive economy by empowering grassroots entrepreneurs.
“This is not a loan. It is a gift from the Nigerian people, through their government, to the champions of local industry. We see you, we value you, and we believe in your journey”, Senator Shettima declared at the event, which attracted state governors, traditional rulers, and business stakeholders.
Describing MSMEs as the “silent architects of survival” and “the pulse of every community,” the Vice President said their empowerment remains central to the economic policy of the Renewed Hope administration, especially as they account for over 90 percent of businesses in Nigeria, contribute more than 45 percent to GDP, and employ over 60 million Nigerians.
“This administration is deliberate in walking the talk, and one of the ways we do so is through platforms such as the MSME Clinics, conceived to draw the Federal Government closer to the creators of jobs, the innovators, the dreamers who make things happen in our communities,” he added.
The MSME Clinics, initiated to provide direct interface between small businesses and relevant government agencies, also serve as platforms for problem-solving and partnership building, Shettima said.
According to a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, he noted that the Ondo edition offers small business operators a unique opportunity to engage directly with regulators, financial institutions, and support organisations.
In addition to the ₦250,000 grants for exhibiting MSMEs at the Clinics, the Vice President highlighted other federal interventions under the Tinubu administration.
These include the ₦75 billion MSME Intervention Fund administered by the Bank of Industry; the ₦50 billion Presidential Conditional Grant Scheme targeting one million nano businesses across all 774 local government areas; and the ₦75 billion Manufacturers Fund that enables manufacturers to access up to ₦1 billion in loans at a 9 percent interest rate.
“These interventions are not theories or wishful thinking. They are real-time, face-to-face, problem-solving solutions for small business challenges,” Shettima said.
He urged small business owners to take full advantage of the Clinics by engaging the agencies present, asking questions, and leveraging the platforms to elevate their enterprises.
The event also featured a tour of a product exhibition by MSME operators from across Ondo State and beyond, led by Vice President Shettima and accompanied by Governor Lucky Aiyedatiwa of Ondo State, Governor Biodun Oyebanji of Ekiti State, and other dignitaries.
In his remarks, Governor Aiyedatiwa reiterated his administration’s alignment with the federal government’s MSME agenda. He said Ondo’s seven-point development plan places strong emphasis on empowering small businesses, with successes recorded in agriculture, fashion, and light manufacturing.