President Tinubu Disburses N150,000 Grants To Business Owners In Enugu

The federal government of Nigeria has disbursed grants of N150,000 to business owners in Enugu State in a continued effort to support Micro, Small, and Medium Enterprises (MSMEs).

The initiative, directed by President Bola Tinubu, was announced by Vice President Kashim Shettima during the launch of the 5th Expanded National MSME Clinic in Enugu on Thursday.

This is just as he also commissioned Nigeria’s largest Ultra-Modern MSME Fashion Hub in Enugu State, saying

“President Tinubu’s commitment to creating a business environment that provides incentives and opportunities to transform MSMEs into formidable enterprises is unyielding.”

The Expanded National MSME Clinics is one of the Nigerian 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 earlier this year.

Speaking during the launch of the 5th Expanded National MSME Clinic, the Vice President 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.

“I am pleased to announce that His Excellency, President Bola Ahmed 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 VP stated.

VP 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 praised 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.

Strength

The VP 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.

He further noted that the 5th Expanded MSME Clinic is a platform for direct engagement with regulatory agencies such 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 Nigerian government in collaboration with the Enugu State government.

Olusola Akintonde