The Federal Government on Tuesday disbursed ₦250,000 each in unconditional grants to outstanding small business owners in Ondo State, as Vice President Kashim Shettima launched the 7th edition of the Expanded National Micro, Small and Medium Enterprises (MSME) Clinics in Akure.
The grants, according to the Vice President, are a practical demonstration of President Bola Ahmed Tinubu’s commitment to building a thriving and inclusive economy by empowering grassroots entrepreneurs.
“This is not a loan. It is a gift from the Nigerian people, through their government, to the champions of local industry. We see you, we value you, and we believe in your journey”, Senator Shettima declared at the event, which attracted state governors, traditional rulers, and business stakeholders.
Describing MSMEs as the “silent architects of survival” and “the pulse of every community,” the Vice President said their empowerment remains central to the economic policy of the Renewed Hope administration, especially as they account for over 90 percent of businesses in Nigeria, contribute more than 45 percent to GDP, and employ over 60 million Nigerians.
“This administration is deliberate in walking the talk, and one of the ways we do so is through platforms such as the MSME Clinics, conceived to draw the Federal Government closer to the creators of jobs, the innovators, the dreamers who make things happen in our communities,” he added.
The MSME Clinics, initiated to provide direct interface between small businesses and relevant government agencies, also serve as platforms for problem-solving and partnership building, Shettima said.
According to a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, he noted that the Ondo edition offers small business operators a unique opportunity to engage directly with regulators, financial institutions, and support organisations.
In addition to the ₦250,000 grants for exhibiting MSMEs at the Clinics, the Vice President highlighted other federal interventions under the Tinubu administration.
These include the ₦75 billion MSME Intervention Fund administered by the Bank of Industry; the ₦50 billion Presidential Conditional Grant Scheme targeting one million nano businesses across all 774 local government areas; and the ₦75 billion Manufacturers Fund that enables manufacturers to access up to ₦1 billion in loans at a 9 percent interest rate.
“These interventions are not theories or wishful thinking. They are real-time, face-to-face, problem-solving solutions for small business challenges,” Shettima said.
He urged small business owners to take full advantage of the Clinics by engaging the agencies present, asking questions, and leveraging the platforms to elevate their enterprises.
The event also featured a tour of a product exhibition by MSME operators from across Ondo State and beyond, led by Vice President Shettima and accompanied by Governor Lucky Aiyedatiwa of Ondo State, Governor Biodun Oyebanji of Ekiti State, and other dignitaries.
In his remarks, Governor Aiyedatiwa reiterated his administration’s alignment with the federal government’s MSME agenda. He said Ondo’s seven-point development plan places strong emphasis on empowering small businesses, with successes recorded in agriculture, fashion, and light manufacturing.
“Your presence here today demonstrates your unwavering commitment to the development of our state and key sectors of our nation’s economy. Your interest in promoting MSMEs across Nigeria has changed the fortunes and stories of small businesses”, the governor told the Vice President.
Also speaking, Governor Oyebanji hailed the Clinics initiative as a first-of-its-kind effort by any government in Nigeria to directly connect small business operators with facilitators of growth.
In a goodwill message, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, acknowledged the contributions of the Tinubu administration and the Ondo State government to MSME development.
He called on all stakeholders to promote made-in-Nigeria products as a strategic way to support young entrepreneurs and grow the local economy.
The Director General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, noted that the Clinics have been instrumental in actualising the federal government’s MSME agenda, with positive feedback from participants at previous editions.
Temitola Adekunle-Johnson, the Special Adviser to the President on Job Creation and MSMEs, also lauded the programme’s impact, assuring that the Ondo edition would be no different.
Earlier in the day, Vice President Shettima paid a courtesy visit to the Ondo State Council of Chiefs, where he was warmly received by the traditional rulers led by the Chairman, Oba (Dr) Ajibade Gbadegesin Ogunoye III.
During the visit, the VP commended the traditional institution for its support of the administration’s reforms, including the removal of fuel subsidy.
He said President Tinubu had taken difficult but necessary decisions to reposition the economy, including addressing issues like multiple taxation and investing in infrastructure such as the Lagos-Badagry-Calabar Highway.
“The President, being a son of the South West, is a man of courage who means well for traditional institutions,” Shettima told the council.
In response, Oba Ogunoye praised the President for ending the fuel subsidy regime, stating that it has freed up resources that are now being channelled into critical sectors of the economy.
He pledged the continued support of the traditional rulers for both the federal and Ondo State governments.
The MSME Clinic in Akure is the seventh in the expanded series initiated under the Tinubu administration.
