Vice President Kashim Shettima has reiterated the federal government’s dedication to empowering Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
He committed to the opening of the Expanded National MSME Clinic in Enugu on Thursday, an event organized by his office in partnership with the Enugu state government.
In his address, Shettima highlighted the crucial role of MSMEs in fostering economic growth and development.
He noted that Nigeria’s youthful population, with an average age of 16.9 years, presents significant opportunities for entrepreneurship and innovation.
He emphasized Nigeria’s status as a hub for English speakers, surpassing even India, which positions the country as an attractive destination for investment.
Addressing the challenges faced by MSMEs, including infrastructure deficits and access to finance, the Vice President stressed the need for practical solutions and effective governance to overcome these hurdles.
To bolster MSME growth, he announced an allocation of N150,000 each to 200 outstanding SMEs, a move aimed at enhancing productivity and manufacturing in Nigeria.
Shettima expressed optimism that by tackling the challenges confronting MSMEs, Nigeria could unlock its full potential for economic advancement.
He noted that the Expanded National MSME Clinic in Enugu is part of the federal government’s broader efforts to support entrepreneurs nationwide, following similar initiatives launched in Ekiti and Benue states.
In his remarks, Enugu State Governor Peter Mbah commended Vice President Shettima for his steadfast support for MSME growth in Nigeria.
He highlighted the recent commissioning of the Enugu State Fashion and Garment Hub as evidence of Shettima’s commitment to empowering small businesses.
“The Vice President’s presence in Enugu, just days after participating in the United Nations General Assembly, demonstrates his strong commitment to MSME growth and his affection for Enugu State,” Governor Mbah stated.
He also expressed gratitude for the Vice President’s efforts in assessing the damage caused by flooding in the region, offering sympathies to those affected.
Governor Mbah emphasized that MSMEs constitute nearly 90% of businesses in Nigeria, serving as the backbone of the economy.
He said his administration has implemented extensive support measures for MSME growth, earning recognition through the National MSME award.
He acknowledged that MSMEs face considerable challenges, including limited resilience capacity, making initiatives like the Expanded National MSME Clinic vital for their survival.
“This clinic serves as a dynamic platform for MSMEs to access essential support from government agencies and private sector stakeholders, offering solutions for regulatory programs, access to finance, and low-interest loans.
“This initiative fosters open private collaboration aimed at empowering MSMEs and promoting sustainable economic development across multiple sectors,” Governor Mbah stated.
He concluded by asserting that the support for MSMEs in Enugu State is expected to positively impact the local economy, and with the government’s commitment to providing infrastructure, security, and efficient legal frameworks, MSMEs in Enugu are well-positioned for growth and innovation.
