Ekiti Business Owners Get Federal Govt’s N150,000 Grant Each

Respite has come the way of small business owners in Ekiti State following President Bola Ahmed Tinubu’s directive that Micro, Small and Medium Enterprises (MSMEs) should be supported with a federal government grant of N150,000 each.

Vice President Kashim Shettima disclosed this yesterday when he launched the 3rd edition of the Expanded National MSMEs Clinic in Ado Ekiti, the Ekiti State capital. He said the N150,000 was an outright grant that does not require beneficiaries to repay.

“I am pleased to share that Mr. President has directed me to ensure that all outstanding exhibiting MSMEs at the Clinic today receive a grant of 150,000 Naira each. This is an outright grant, and the beneficiaries will not need to repay it. We extend our gratitude to our partners for their unwavering support,” he declared in a statement by his spokesman, Stanley Nkwocha.

The Expanded National MSME Clinics is one of the federal government’s strategies for making it easier to do business in Nigeria.

It is a series of business forums organised in different cities across the country to proffer on-the-spot solutions to challenges confronting MSMEs.

The first and second editions were launched in Benue and Ogun States earlier this year.

Earlier, on arrival in Ado-Ekiti, the VP, who was received by Governor Biodun Oyebanji, his wife, and other top government functionaries, commissioned the Ekiti State Ultra-Modern Fashion and Garment Hub at Odua Textile Complex, Basiri, Ado-Ekiti.

Senator Shettima and his entourage also inspected the Adire Ekiti Hub, a pet project of the first lady of Ekiti State.

Launching the third edition of the Expanded MSME Clinics at the Trade Fair Complex, Old Iyin Road in Ado Ekiti, the Vice President hinted that the initiative would move next to Borno and Enugu States „before culminating in the National MSME Awards in FCT on June 27, 2024, to commemorate the United Nations World MSME Day“.

The VP noted that the only way the Tinubu administration is appealing „to the land of honor and integrity“ is by ensuring the expansion of the labour market and supporting the required skills.

“Small businesses are the lifelines of communities across the nation and a strong pillar of stability during this critical phase of our economic transition. We cannot claim to have excelled in our interventions unless they remain our top priority. Our commitment to revitalising the MSME sector ensures that these businesses continue to serve their essential buffering function,“ he explained.

For the ultra-modern MSME Fashion Hub he commissioned earlier, VP Shettima said that while it competes ideally with others globally, the hub has the potential to create an estimated 48,000 jobs annually.

Describing the hub as a significant milestone by the Tinubu administration to empower local industries, he stated: „It boasts the capacity to produce a wide range of fashion gear, including military uniforms, and rivals any facility in the world. Equipped with modern-day machinery and technology, this hub holds immense potential for job creation, with projections estimating an average of 48,000 jobs annually.

He called on the political class in Ekiti to support his administration, noting that „it is only in unity that we can attract so much for the good of our people.“

In his goodwill message, Senate leader Opeyemi Bamidele commended the effective collaboration between the federal and state governments, culminating in the execution of the MSME-focused projects.

Other dignitaries at the event include the state Deputy Governor, Chief Monisade Afuye, and the Permanent secretary of State House, Engr Funsho Adebiyi.