President Bola Tinubu has approved an unconditional grant of N250,000 for each outstanding Micro, Small, and Medium Enterprise (MSME) exhibiting at the Expanded National MSME Clinic in Katsina State.
Vice-President Kashim Shettima announced the grant Tuesday during the inauguration of the ninth edition of the MSME Clinic, designed to support small businesses and stimulate economic activity across local communities.
He said the Federal Government established the Expanded MSME Clinic to bring services closer to entrepreneurs and foster innovation, employment, and access to resources through direct engagement with key institutions.
Mr Shettima said, “MSMEs remain the backbone of our national vision. We came to office committed to ease the nation’s economic burden, and our support for businesses remains a top priority.’’
He noted that through the clinic, MSMEs could access regulatory bodies such as CAC, NAFDAC, and SMEDAN, as well as banks including the Bank of Industry, to resolve pressing business challenges.
Highlighting Mr Tinubu’s commitment, Mr Shettima said: “This grant is non-repayable and part of our efforts to eliminate barriers hindering MSMEs and promote an environment where small businesses can thrive.”
He added that the administration also introduced a N75 billion MSME Intervention Fund, offering up to N5 million in loans to 75,000 enterprises at a nine per cent annual interest rate.
He said additionally, the N50 billion Presidential Conditional Grant Scheme was supporting one million nano businesses nationwide with grants of N50,000 each, targeting the most vulnerable micro-enterprises across all 774 local councils.
He stated, “Another intervention, the N75 billion Manufacturers Fund, provides loans of up to N1 billion to manufacturing firms to offset high costs of production, marketing, and logistics. So far, more than 39,000 MSMEs in Katsina State have benefited from federal initiatives, receiving a combined total of about N2.5 billion in grants and concessional loans to support business growth. Under the RAPID programme, 23 MSMEs in rural parts of Katsina have received more than N112 million to expand operations, create jobs, and stimulate rural economic activities.”
Mr Shettima also announced the inauguration of the N5 billion Katsina State MSME Growth Fund, a matching scheme between federal and state governments, disbursing N576 million to 237 local businesses.
He hailed Governor Dikko Radda for establishing the Katsina State Enterprise Development Agency (KASEDA), a key initiative supporting MSME transformation into regional, national, and global business players.
“No country thrives without a robust MSME sector. With more than 1.7 million MSMEs, Katsina is positioning itself as a hub for agriculture, crafts, services, and digital enterprise,” Mr Shettima said.
He emphasised the importance of inclusion, applauding the involvement of women and youth in enterprise development, noting that “growth without inclusion is but a mirage.”
(NAN)