The Federal Government of Nigeria has targeted the creation of 48, 000 jobs with the inaugurated a state-of-the-art fashion manufacturing hub in Maiduguri, Borno State.
The Government noted that this is in continuation of the disbursement of its N75 billion support package for Micro, Small and Medium Enterprises (MSMEs), across the country.
FG also used the occasion to announce the unconditional grants of N300,000 for outstanding MSMEs participating in the 6th Expanded National MSME Clinics programme.
This was disclosed by Vice President Kashima Shettima while launching the fashion hub and the Expanded MSMEs Clinic in Maiduguri, on Tuesday.
He restated the commitment of the administration of President Bola Ahmed Tinubu to fostering innovation, upskilling the workforce, and ensuring equitable wealth distribution across the nation.
This was contained in a statement by the VP Spokesperson, Stanley Nkwocha.
“The strength of any nation lies not in its natural resources but in the hands of its skilled and enterprising citizens. You are the surest means of distributing wealth equitably across the land. You are the crucial link to securing a prosperous future,” Shettima said.
The Nation reports that the N75 billion MSME Intervention Fund is being administered through the Bank of Industry. The fund is also offering loans up to N1 million at 9% interest to 75,000 businesses nationwide.
Announcing the N300,000 grant for each business owners, VP Shettima said, “I am pleased to announce on behalf of His Excellency, President Bola Ahmed Tinubu, that an unconditional grant of N300,000 will be awarded to each outstanding MSME exhibiting at today’s clinic”.
The Vice President emphasized that the intervention represents yet another fulfilment of the promise made by President Tinubu to provide access to capital and expand opportunities for all Nigerians.
He said, “Every business empowered is a step closer to eradicating poverty. And we do not take for granted the critical role you play as the buffer of our economy, particularly at the informal level.”
Shettima explained that MSME provides “a unique platform for business owners, aspiring entrepreneurs, and innovators in Borno State. And an opportunity for them to interact directly with regulatory agencies, financial institutions, and business support organizations.
“It is an avenue to receive practical, on-the-spot solutions to the challenges you face in running your businesses,” the VP said.
Shettima also announced the successful completion of the second cohort of the FGN-ALAT Digital Skillnovation Programme in Borno State. He pointed that programme is a partnership with Wema Bank that has trained over three million Nigerians in digital skills.
The Vice President said, “The FGN-ALAT programme has trained over two million Nigerian youths. And another one million MSMEs in digital skills and resources critical for thriving in today’s technology-driven economy.”
Shettima further added that the fashion hub is among the largest ever established by the Federal Government. And that it is furnished with state-of-the-art equipment to support the fashion manufacturing cluster in Borno State.
“It has the capacity to boost production, achieve economies of scale, and align with global standards. We anticipate that this facility will be managed by a competent private sector entity, with Federal and State Governments providing vigilant oversight.
“Our vision is for this hub to become a reference point for excellence, enterprise, and training. Not only for Borno State, but for the entire nation,” he said.
Vice President Shettima also expressed gratitude to the government of Borno State, under the stewardship of Governor Babagana Umara Zulum. The VP thanked him for partnering with the Federal Government to bring the Expanded MSME Clinic and the fashion hub to the people of the State.
He also reiterated the administration’s commitment to grassroots economic development. Noting that “without skills, innovation stalls, and without accessible capital, dreams wither.”
The VP added, “This is why we are committed to standing with you and supporting you. Ensuring that your most ambitious ideas are transformed into flourishing enterprises. Instead of being forgotten in the cupboards of dreams not realized.”
In his remarks, the Borno State Governor, Babagana Zulum regretted that MSMEs had suffered “untold hardship in the State. This, he said is due to decade-long insurgency and the prevailing economic situation in the country.”
The Governor, however, expressed optimism that the launch of the MSME Clinic will revive business activities, small and medium enterprises. And would also provide employment opportunities and sources of income for individuals in Borno State.
Zulum assured that the State Government is committed to creating more opportunities for the population of Borno Sate.
He noted that in recognition of the importance of MSMEs, his administration has made several policies. These, he said are to encourage the citizens to build expanded sources of income.
On his part, the Minister of Agriculture and Food Security, Senator Abubakar Kyari, stated the importance of the programme.
According to him, the launch of the MSME Clinic and the Fashion and Innovation Hub marks another milestone. He stated that it marks a success in the administration of President Bola Ahmed Tinubu.
Kyari noted that going around the exhibition with the Vice President, was revealing. He observed that “everything speaks to the 8-point agenda of Mr. President.”
He highlighted the agenda to include food security, poverty reduction, job creation, inclusion of women and youths, provision of security, access to capital and rule of law.
The Minister of State for Industry, Trade and Investment, Sen John Owen Eno, on his part, commended the programme. He stated that the MSME Clinic is a transformational programme being led by the Vice President.
Eno noted that the programme is responsible for unlocking a lot of economic opportunities, empowering small businesses and encouraging innovation.
According to him, coming to commission MSME in Maiduguri underscores the legacy of diversifying the economy. Ans also, contributing to job growth as well as trying to be competitive.
source: The Nation
Follow us for more news on our WhatsApp News Channels @
https://whatsapp.com/channel/0029VaC505jB4hdZ5Yx9g82U