The Federal Government of Nigeria has inaugurated a Conditional Grant Scheme (CGS) for micro, small and medium scale enterprises in Osun State.
Minister of Marine and Blue Economy, Adegboyega Oyetola who performed the flag off on Monday at the Industrial Development Centre (IDC), Osogbo, said the move was to renew hope in the country.
Oyetola said the scheme would fill the capacity gap of youths and ensure they earn income by filling the artisanal gap in Nigeria.
According to him, the grant would provide youths in the state with not only entrepreneural and vocational skills, it would also provide them with empowerment materials.
The Minister noted that the scheme was in line with the renewed hope agenda of President Tinubu and expressed gratitude to the Federal Government for choosing Osun as the venue for its flag off.
“We are, therefore, in Osogbo today to inaugurate the following: Remodeled textile workshop, Industrial garment equipment/machines, renovated electrical works and dual powered borehole.
“Today’s interventions are loud testaments to the Federal Government’s fulfillment of its determination to protect businesses in the country, especially the Nano, Micro, Small and Medium Enterprises (NMSMEs), which is a critical sub-sector of the Nigerian economy.
“It also portrays the Federal Government, under President Tinubu’s watch as a responsible, responsive and thinking government that has empathy for the youth population of our country”, he said.
Oyetola urged state governments across the country to support efforts of the Federal Government by establishing State Councils on MSMEs in partnership with Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
He also urged beneficiaries of the grant to maximise the opportunities offered them by the Federal Government through the scheme and use same judiciously for the purpose it was meant.
“I urge all the beneficiaries of today’s interventions in Osun State and other beneficiaries across the country to seize the opportunity offered them by the President Tinubu’s administration to join the league of small and medium scale business owners in the country. You must know that every enduring business starts small.
“Therefore, see what you have today in your hands as a mustard seed. Start where you are and watch your efforts grow with pride”, the Minister added.
Earlier, Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Charles Odii, had disclosed that thousands of residents of the state had benefited and still benefitting from different schemes of the agency.
He expressed confidence that the grant would go a long way to support businesses of beneficiaries in particular and stimulate the economy of the state in general.
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