Vice President Kashim Shettima has said Nigeria’s economy can not grow significantly without the development of micro, small and medium enterprises (MSMEs), stressing that Ondo State is critical to the country’s socio-economic development.
Shettima stated this in Akure, the Ondo State capital, while addressing participants at the 7th edition of the Expanded National Micro, Small and Medium Enterprises (MSME) Clinic, tagged Ondo 2025, which was held at the International Culture and Event Centre.
At the event, Shettima, the Special Guest of Honour, described MSMEs as the foundation of the nation’s economy, stating that they account for most jobs and must be supported for Nigeria to achieve inclusive growth.
He said, “MSMEs account for 90 per cent of jobs in this country. They are key to poverty alleviation and national prosperity. The growth of our economy must go hand in hand with the growth of small businesses.”
Shettima disclosed that 65 MSMEs from Ondo State have already accessed funding from the Federal Government’s N75 billion intervention fund.
“This fund is designed to provide affordable financing for entrepreneurs. We must ensure that this support is not a one-off gesture. I call on all partner agencies to continue working hand in hand with MSMEs to deliver lasting impact,” he added.
Highlighting key sectors targeted for revival under the Renewed Hope Agenda, the Vice President announced a major national initiative in the agriculture sector, saying, “President Bola Ahmed Tinubu has given a clear directive that we should plant 100 million oil palm trees across the country. We are also going to revive the cocoa industry.”
Shettima also lauded the Ondo State Governor, Dr. Lucky Orimisan Aiyedatiwa, for his government’s infrastructure drives and support for small and medium-scale enterprises.
“Let me commend the Governor of Ondo State for his visible commitment to development.
What I’ve seen here today is very impressive,” he said.
In his address, Governor Aiyedatiwa described the clinic as a revolutionary step towards unlocking the full potential of Nigeria’s economy through MSME development.
He noted that MSMEs remain the backbone of Nigeria’s economy and highlighted his administration’s commitment through the state’s OUR EASE Agenda, which aligns with the Federal Government’s Renewed Hope Agenda.
Governor Aiyedatiwa also celebrated the achievements of several Ondo-based MSMEs that have won national recognition, including Denki Wire and Cables Ltd and Kay Classic Fashion, winners of the National MSME Awards for Excellence in Manufacturing and Fashion, respectively.
Also speaking at the event, Governor Abiodun Oyebanji of Ekiti State commended the initiative behind the MSME Clinic, describing it as a strategic effort to develop human capacity and support the growth of small businesses.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
