MSME accounts for 45% of local economy, says Shettima

Vice President, Kashim Shettima, has disclosed that Micro Small and Medium Enterprises (MSMEs) account for 96 per cent of Nigeria’s businesses and 45 per cent of the nation’s economy.

He maintained that it would be impossible to grow the nation’s Gross Domestic Product (GDP) without the active participation of MSMEs.

Represented by the Deputy Chief of Staff in the Presidency, Ibrahim Hassan Hadejia, the Vice President commissioned the Benue Fashion Hub and Benue Printing House in Makurdi, yesterday.

While commissioning the projects estimated to generate N3 billion yesterday, Shettima noted that 80 per cent of Nigerians would have been without jobs in the absence of the MSMEs.

Governor Hyacinth Alia, in his remarks, said the fashion hub is an embodiment of the state’s collective vision for a prosperous, creative and empowered Benue.

“The project is designed to harness the abundant talents of our youth and transform them into thriving enterprises that will contribute significantly in building our economy,” he said.