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NEWS

Tinubu disburses N150,000 grants to Enugu small business owners

October 4, 2024 • 2 min read

October 04, 2024

By Samuel Ogunsona

The Nigerian President, Bola Tinubu, has ordered the disbursement of N150,000 grants to Micro, Small, and Medium Enterprises (MSMEs) in Enugu State, as part of its efforts to boost entrepreneurship and economic growth.

Vice President Kashim Shettima who represented the President at the launch of the 5th Expanded National MSME Clinic in Enugu made the announcement on Thursday.

He also commissioned Nigeria’s largest ultra-modern MSME Fashion Hub in the state.

Speaking at the event, Shettima noted that the grant has no requirement for repayment.

“Distinguished ladies and gentlemen, I am pleased to announce that His Excellency, President Bola Ahmed Tinubu, has mandated a grant of N150,000 each to be awarded to outstanding exhibiting MSMEs at today’s event.

“Let me assure you that this is an outright grant, with no requirement for repayment, reflecting our commitment to nurturing MSMEs and fostering economic growth,” the VP stated.

He also expressed satisfaction with the pace at which the federal government is driving the growth and survival of the nation’s MSMEs, noting that it attests to the fact that “there is no thriving economy without robust small businesses.”

“The only way we can achieve this is by standing united, from Abia to Zamfara, in pursuit of a shared objective. Small businesses account for 96 per cent of all businesses in Nigeria and contribute more than 45% to our GDP. I am sure you understand what this means: without you, Nigeria would be nowhere,” he declared.

However, the grant reflects President Bola Ahmed Tinubu’s commitment to supporting MSMEs, according to Shettima.

The Expanded National MSME Clinics is a federal government initiative aimed at providing on-the-spot solutions to challenges facing MSMEs through business fora across the country. Previous editions were held in Benue, Ogun, Ekiti, and Jigawa States.

The Enugu clinic is the fifth in the series, demonstrating the administration’s focus on fostering economic growth and empowering entrepreneurs.