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… Says FG to formalize 1million businesses at discounted rate
From Scholastica Hir, Makurdi
Nigeria’s President, Bola Ahmed Tinubu, has unveiled the plan to establish a world-class fashion hub in Makurdi for use by small businesses in the tailoring cluster in the state.
The Vice President, Sen. Kashim Shettima, disclosed this while speaking at the first Expanded National MSME Clinics in Makurdi, the Benue State capital on Tuesday, January 9, 2024.
Shettima also disclosed that the Federal government is discussing with the Corporate Affairs Commission, (CAC), to formalize one million businesses at a discounted rate.
The Vice President, who expressed joy that the pioneering spirit of Benue State has set the stage for a transformative MSME Clinic train, said the hub will be ready in 90 days.
According to him, “Following this trailblazing journey, the MSME Clinic train is scheduled to traverse through Ebonyi, Ogun, Delta, Kaduna, Borno, Katsina, and the FCT in a meticulously planned itinerary for the first half of the year.
The Vice President who read from his speech titled “Benue State: Nurturing Enterprises, Embracing Prosperity,” said the Expanded National MSME is not just a fulfillment of President Bola Ahmed Tinubu’s promise of job creation and accessible capital to Nigerians, but also a homage to the unparalleled spirit of industriousness that defines the people of Benue State.
“We are in a land known for its commitment to hard work, excellence in art, pursuit of creativity, elevation of agriculture, and promotion of commerce.
“These stand as a testament to the remarkable productivity ingrained within the core of Benue State. The reputation earned by the diligent efforts of every person in this food basket of the nation is a beacon of inspiration for us all, and I am honoured to join you today.
He said the expanded National MSME Clinics, the first of its kind by this administration, is holding in “this beautiful state” to recognize the role Benue State has played in offering the nation a means of trade and a vehicle for driving the MSME subsector towards our objective.
He congratulated Governor Hyacinth Alia, and the entire people of Benue State for hosting the event saying the MSME Clinics stand as symbols of empowerment, a nexus where dreams meet opportunity, where innovation thrives, and where the spirit of entrepreneurship is nurtured by strategic governance.
He said Nigerians must seize the moment to “forge a path of prosperity, to leverage the resources at our disposal, to create a thriving ecosystem for the growth and success of our micro, small, and medium enterprises.
“Every business owner, whether in Makurdi or Otukpo, Gboko or Katsina Ala, must consider themselves a priority of this government” as according to him, the extended National MSME Clinics is aimed at uniting regulatory bodies in the MSME sub-sector with MSMEs and investors across small business clusters.
The Vice President who was in the state with heads of agencies, including SMEDAN, NEPC, NEXIM, ITF, Sugar Council, CAC, NAFDAC, SON, FIRS, BOA, BOI, NITDA, RMRDC, and others, said “They are also here to offer solutions to critical barriers hindering the growth of these enterprises in Nigeria,” adding that government has engaged the full support of the private sector, including MAN, NASME, NACCIMA, Access Bank, and numerous other entities in this endeavour.
“These clinics are turning points in our quest to guarantee the ease of doing business. They offer a methodical opportunity for MSME exhibitors to access immediate working capital through our esteemed partners.
“The Federal government is in discussions with the CAC to formalize one million businesses at a discounted rate.
“The latest interventions of President Bola Ahmed Tinubu’s administration to complement existing measures for safeguarding your investments and projections. We currently have in place a N75 billion 9% single-digit loan from BOI.
“Additionally, Access Bank has made N50 billion of their fund available to MSMEs at a discounted rate of 15%, which could significantly increase based on loan performance.
“Mr. President is committed to resolving the bottlenecks affecting the MSME space in Nigeria and will persist until these issues are resolved,” he added.
Speaking, the state Governor, Rev Fr Hyacinth Alia, said the state is happy to key into renewed agenda of the President and would not take the opportunity for granted.
While noting that the state would be happy to establish small industries especially in organic products, Governor Alia said Benue is not only open to business but has abundant talents that when harnessed would contribute to too security and make the state a shiny example of creativity.
While promising to provide a favourable business environment for business men and women in the state, the Governor vowed to, among other measures, clamp down on illegal tax collectors, enhance credit facilities to enable them thrive.
