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From Laide Raheem, Abeokuta
The Federal Government on Tuesday announced a N150,000 grant to 200 exhibitors at the 2nd National Expanded MSMEs clinic in Ogun State.
The Vice President, Kashim Shettima made the announcement shortly after inaugurating the Ogun Fashion/Tailoring Hub and the Adire Shared Facility, in Abeokuta, the state capital.
The project is an initiative of the Federal Government of Nigeria.
Shettima noted that the grant is not only an immediate relief for the exhibitors, but would also serve as a guiding hand to facilitate access to loan facilities from renowned financial institutions.
He said it would also create a way for sustainable growth and financial prosperity for small businesses in the state.
“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.
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.
He, however, commended the Ogun State governor, Dapo Abiodun for his steadfast cooperation in ensuring the successful completion of the projects under the current dispensation.
In his speech, Gov Abiodun said that the Expanded MSME Clinic aligns with his administration’s commitment to making life easier for the 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
He added that another N50,000 will be given to 5000 Iyalojas (market heads).
All these, according to the governor amounted to N1billion just as he added that N50,000 would be given to all tertiary students to cushion the effects of the current economic situation of the country.
In his remarks, the Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr 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.
Earlier in his welcome address, the Ogun State state Commissioner for Industry, Trade and Investment, Mr Adebola Sofela, underscored the importance of MSMEs to any economy.
He lamented the several challenges inherent in their operating system, saying that the federal government’s resolve to solve these bottlenecks is evident in the MSME clinic.
He thanked the Vice President and the Federal Government for supporting the state MSMEs with world class equipment and grants to small businesses in the state.
