FG doles out N150,000 grants to business owners in Enugu

Respite has again, come the way of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria, with President Bola 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 the administration’s commitment to creating a business environment that provides incentives and opportunities to transform MSMEs into formidable enterprises is unyielding.

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, Vice President Shettima 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.

“Distinguished ladies and gentlemen, I am pleased to announce that His Excellency, President Bola 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 Vice President 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 applauded 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 Vice President 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.

Senator 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.

He 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.