The grant is not only an immediate relief for the exhibitors but also serves as a guiding hand to facilitate access to loan facilities from renowned financial institutions.
It would also create a way for sustainable growth and financial prosperity for small businesses in the state.
Vice President Kashim Shettima made the announcement shortly after inaugurating the Ogun Fashion/Tailoring Hub and the Adire Shared Facility, an initiative of the Federal Government.
“Each exhibitor present at the clinic today stands to gain from our MSME instant grant of N150,000 each courtesy of our esteemed private sectors and His Excellency, President Bola Tinubu.
“We’re honoured to host agencies of eminence such as SMEDAN, BOI, ITF, NEXIM, BOA, SON and others.
“Their collective presence ensures a real time assessment of the distinctive needs of our MSMEs to provide invaluable guidance that propels the enterprising source of their success,” he said.
According to the Vice President, the Clinics and related activities hold the promise of easing the way for small businesses to transform their empires or unicorns of note.
His words: “The National MSME Clinics serve as a bridge between us—between the people and the government. They are designed to bring the government in close proximity to the people by convening all regulatory agencies under one roof.
“This journey further reinforces my conviction that our paramount responsibility as a government is to persist in crafting an enabling environment that allows these small businesses not only to thrive but also to expand their horizons”.
Assuring that the Federal Government, in collaboration with partners, will not rest on their oars until small businesses reach the heights of their potential.
The Vice President noted that the overall objective is to “foster an ecosystem where innovation flourishes, where the entrepreneurial spirit of Nigeria shines brightly on the global stage, and where our collaborations yield immense dividends.”
He expressed confidence that with little support, MSMEs across the country can deploy their talents, creativity and boundless energy to building more viable enterprises.
The Vice President paid glowing tributes to the Ogun State government for their cooperation in the project, describing the state “as a guiding force in the Federal Government’s commitment to supporting enterprises and empowering their owners.”
The Vice President also announced that President Tinubu directed that 200 new stores within the new Adire market be granted to small business traders free of charge for a period of one year with an additional grant of N100,000 each.
Governor Dapo Abiodun said that the Expanded MSME clinics aligns with his administration’s commitment to making life easier for citizens.
He disclosed that the state would provide conditional grants of N100,000 to 10,000 SMEs and another N500,000 to 2,000 SMEs, noting that another N50,000 will be given to 5000 Iyaloja’s (market heads).
Abiodun added that N50,000 would be given to all tertiary students to cushion the effects of the current economic situation in the country.
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odili noted that entrepreneurs are free to walk into any of its offices nationwide in a bid to leverage on the benefits they can receive for their businesses.
He added that the federal government has committed over N200 billion to support the MSME scheme.
He also advised small business owners to take advantage of the Access bank loans at 15 per cent interest.
The Coordinating Minister of the Economy and Minister of Finance, Wale Edun reiterated President Bola Ahmed Tinubu’s commitment to improving the welfare of Nigerians especially supporting small businesses to thrive and grow.
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