The Federal Government Awards N150,000 Grant to MSMEs in Enugu

 

Micro, Small, and Medium Enterprises (MSMEs) in Nigeria are receiving much-needed support as President Bola Tinubu has approved a federal grant of N150,000 for MSME business owners in Enugu State. This announcement comes as Vice President Kashim Shettima inaugurated the largest ultra-modern MSME Fashion Hub in Enugu State, reaffirming President Tinubu’s dedication to fostering a business environment that enables MSMEs to thrive.

During the launch of the 5th Expanded National MSME Clinic in Enugu, Shettima announced the grant, emphasizing its significance as a direct boost for MSMEs. He also highlighted the Expanded National MSME Clinics as a federal initiative aimed at improving the ease of doing business through hands-on support for MSMEs across Nigeria, with previous clinics held in Benue, Ogun, Ekiti, and Jigawa States earlier in the year.

The Vice President assured attendees that the grant is a non-repayable contribution aimed at bolstering MSMEs and accelerating economic growth. He expressed satisfaction with the federal government's commitment to helping MSMEs, stating that they form the backbone of the Nigerian economy, accounting for 96% of all businesses and contributing over 45% to the GDP.

The event also saw the Vice President inaugurate the fashion and garment hub in Enugu, established by the federal government in collaboration with the state government. Shettima praised the facility as a critical step in supporting MSMEs, enhancing productivity, and creating approximately 48,000 jobs.

Governor Peter Mbah of Enugu expressed appreciation for the federal government’s efforts, emphasizing the importance of MSMEs for economic growth. He noted that the new fashion hub will inspire entrepreneurship among young people in Enugu, enhancing opportunities for small business owners.

Senator Osita Ngwu and Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, also commended the partnership between the federal and state governments in supporting MSMEs, with Kalu praising Shettima's empathy for the less privileged.

The Minister of Innovation, Science and Technology, Chief Uche Nnaji, announced the commencement of a nationwide training program for shoemakers, emphasizing the need for skill acquisition to tackle unemployment. Meanwhile, the South East chapter of the National Employers Consultative Association (NECA) pledged its support for federal initiatives aimed at job creation.