The Nigerian government has unveiled plans for one million businesses across Nigeria at a discounted rate as part of its commitment to supporting small businesses.
Vice President Kashim Shettima shared this announcement during the launch of the Expanded National MSME Clinic in Makurdi, the Benue State capital. This clinic, a first under President Bola Tinubu’s administration, aims to empower micro, small, and medium enterprises (MSMEs) by breaking down barriers and providing crucial resources.
Benue State’s pioneering role in the MSME Clinic marks the beginning of a nationwide rollout, covering states such as Ebonyi, Ogun, Delta, Kaduna, Borno, Katsina, and the Federal Capital Territory (FCT) in the first half of 2024. The initiative will culminate in the National MSME Awards in Abuja on June 27, 2024, coinciding with World MSME Day.
Vice President Shettima, addressing a gathering of entrepreneurs, highlighted the government’s dedication to creating a thriving MSME ecosystem. He emphasised the pivotal role MSMEs play in job creation and economic development and pledged unwavering government support to empower them.
The Vice President acknowledged President Tinubu’s commitment to addressing challenges affecting the MSME space, citing a N75 billion, 9% single-digit loan from the Bank of Industry (BOI) and Access Bank’s discounted N50 billion fund offer as crucial financial support for small businesses.
He also praised Benue State’s industrious spirit and entrepreneurial drive, considering it a “beacon of inspiration” for the entire country. Additionally, Vice President Shettima revealed President Tinubu’s plans to establish a world-class fashion hub in Makurdi, dedicated to the state’s thriving tailoring cluster.
Governor Rev. Fr. Hyacinth Alia affirmed Benue State’s openness to business and reiterated the state’s commitment to supporting and empowering MSMEs as a key driver of economic growth. He acknowledged the challenges faced by MSMEs, including insecurity, regulatory hurdles, and access to finance, assuring participants of active measures being taken to streamline processes and remove bottlenecks.
The MSME Clinic Launch in Benue State witnessed the presence of key dignitaries, including Deputy Governor Barr. Sam Ode, Secretary to the Government of the Federation Senator George Akume, and heads of various agencies supporting the initiative. The event celebrated the entrepreneurial spirit in Benue State and marked a turning point in transforming the state from a civil service state to an industrial state.
In addition to the launch, Vice President Shettima visited the Ichwa Internally Displaced Persons (IDP) camp in Makurdi, offering support and assurance to those displaced by conflict. He pledged continued humanitarian aid and explored avenues for skill development and livelihood opportunities within the camp, promising to expedite the safe resettlement process.