From Juliana Taiwo-Obalonye, Abuja
The federal government on Tuesday, August 5, awarded ₦250,000 grants to outstanding small business owners in Ondo State, reinforcing its commitment to empowering Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.
Vice President Kashim Shettima announced the initiative at the 7th Expanded National MSME Clinic in Akure, emphasising that creating an enabling environment for MSMEs is central to President Bola Tinubu’s economic strategy.
Speaking to attendees, Shettima said: “Every outstanding exhibiting MSME identified during this clinic will receive an unconditional grant of ₦250,000. This is not a loan. It is a gift from the Nigerian people, through their government, to the champions of local industry. It is our way of saying: we see you, we value you, and we believe in your journey.”
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1718806029429-0’); });
He highlighted the critical role MSMEs play in Nigeria’s economy, noting that they account for over 90% of businesses, contribute more than 45% to the national economy, and employ over 60 million people. “They are not only economic actors but the silent architects of survival, the lifelines of households, and the pulse of every community,” Shettima stated.
The Vice President outlined other federal initiatives, including the ₦75 billion MSME Intervention Fund, the ₦50 billion Presidential Conditional Grant Scheme for one million nano businesses, and the ₦75 billion Manufacturers Fund. “This administration is deliberate in walking the talk, and one of the ways we do so is through platforms such as the MSME Clinics, conceived to draw the Federal Government closer to the creators of jobs, the innovators, and the dreamers who make things happen in our communities,” he added.
Ondo State Governor, Lucky Aiyedatiwa, affirmed the state government’s commitment to MSME development and described the impact of local initiatives. “Your presence here today demonstrates your unwavering commitment to the development of our state and key sectors of our nation’s economy. Your focus on promoting MSMEs across Nigeria has changed the fortunes and stories of small businesses across our country, and we remain grateful,” he said.
Ekiti State Governor, Biodun Oyebanji, also in attendance, praised the federal government for prioritising direct engagement with small business operators. “This is the first attempt by any government in Nigeria to align growth with development through a deliberate and direct interface between facilitators and small business operators,” he remarked.
The Special Adviser to the President on Job Creation and MSME, Temitola Adekunle-Johnson, underscored the clinics’ positive impact, with Ondo State’s edition facilitating direct interactions between MSMEs, regulatory agencies, and business support organisations.
Traditional leaders also voiced support, with the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, urging stakeholders to promote locally made products. The Director General of the Small and Medium Enterprises Development Agency (SMEDAN), Charles Odii, noted that the clinics are advancing the Tinubu administration’s agenda for small businesses.
While addressing Ondo’s traditional council, Vice President Shettima conveyed President Tinubu’s appreciation for their support and highlighted efforts to address public concerns, including subsidy removal and new infrastructure projects.
Oba Ajibade Gbadegesin Ogunoye III of Akure, chairman of the Ondo State Council of Chiefs, commended the federal government for redirecting subsidy funds to benefit states like Ondo and pledged continued support for government policies.
The event culminated with the Vice President and dignitaries touring a local exhibition of products by small business operators, underscoring the federal government’s hands-on approach to MSME development.
The post Tinubu’s FG disburses ₦250,000 to Ondo small businesses appeared first on The Sun Nigeria.
