President Bola Tinubu has approved a N150,000 grant for each business owner in Jigawa State, as part of a broader federal initiative to support micro, small, and medium enterprises (MSMEs) and boost digital innovation.
Vice President Kashim Shettima revealed this grant during the launch of the AI Expertise Blockchain and Technology Training and Outsourcing Initiative in Dutse.
He reiterated the Tinubu administration’s commitment to supporting the MSMEs sector, which accounts for 96% of all businesses in Nigeria and contributes over 45% to the country’s Gross Domestic Product (GDP).
Shettima highlighted the importance of MSMEs, stating that they provide a crucial lifeline to 80% of the nation’s workforce. He assured the business owners that the government recognizes their significance and is establishing MSME clinics across the country to act as incubators for small businesses, offer alternative financing, and ensure they have the support and resources needed to compete and thrive.
The Vice President urged the MSMEs not to harbor any fear, assuring them that the Tinubu administration would not rest until each business is in a position to access the support and capital made available. He emphasized that the prosperity of small businesses is the prosperity of Nigeria, and their downturn is the downturn of the nation.
The Expanded National MSME Clinic, launched in Benue, Ogun, and Ekiti States earlier this year, is one of the Federal Government’s strategies for ease of doing business in Nigeria. Through a series of business forums organized across the country, the clinics aim to provide on-the-spot solutions to challenges confronting MSMEs.