FG disburses N250,000 to each MSMEs in Ondo
Shettima
* The disbursement are grants, not loans, to directly impact Nigerian people.
The Federal Government, on Tuesday, disbursed N250,000 in unconditional grants to outstanding small business owners in Ondo State, as part of its ongoing nationwide intervention to empower Micro, Small, and Medium Enterprises (MSMEs).
Vice President Kashim Shettima, who announced the disbursement during the launch of the 7th edition of the Expanded National MSMEs Clinics in Akure, described the gesture as a practical demonstration of President Bola Tinubu’s commitment to grassroots enterprise development.
He said the grants, which are not loans, represent a direct investment by the Nigerian people, through their government, in the champions of local industry.
Shettima, in a statement by his media officer, Stanley Nkwocha was quoted as saying: “In line with President Tinubu’s unwavering support for grassroots enterprises, every outstanding exhibiting MSME identified during this clinic will receive an unconditional grant of N250,000.
“This is not a loan. It is a gift from the Nigerian people to the champions of local industry. It is our way of saying: we see you, we value you, and we believe in your journey.”
Highlighting the pivotal role of MSMEs in Nigeria’s economy, the Vice President noted that they account for over 90 percent of businesses, contribute more than 45 percent to GDP, and provide employment for over 60 million Nigerians.
He described them as “the silent architects of survival, the lifelines of households, and the pulse of every community.”
He stressed that the Tinubu administration places MSMEs at the centre of its economic policy because no meaningful poverty alleviation can be achieved without the jobs and opportunities they create.
“Nigeria’s national prosperity is entwined with the success of its MSMEs. That is why the Renewed Hope Agenda places the creation of an enabling environment for small businesses at the heart of our economic blueprint.
This is not just rhetoric. It is a covenant with the builders of our future,” Shettima said.
He explained that the Expanded MSMEs Clinics were conceived to bring the Federal Government closer to innovators, job creators, and small-scale manufacturers in communities nationwide.
The Ondo edition of the clinics, he said, provides business owners with a rare opportunity to directly engage regulators, financial institutions, and support organisations to address their challenges in real time.
The Vice President also highlighted other key interventions by the Tinubu administration, including:
A N75 billion MSME Intervention Fund through the Bank of Industry; a N50 billion Presidential Conditional Grant Scheme targeting one million nano businesses across Nigeria with N50,000 each; a N75 billion Manufacturers Fund, offering up to N1 billion at a single-digit interest rate.
Shettima urged small business owners in Ondo to fully utilise the opportunities at the clinic, seek guidance, engage agencies, and position their enterprises for growth.
He also commended the Ondo State government for aligning with federal policies that support innovation, enterprise, and infrastructure development.
Speaking at the event, Governor Lucky Aiyedatiwa of Ondo State reaffirmed his administration’s commitment to MSME development, noting that his government’s 7-point agenda has recorded successes across sectors such as agriculture, manufacturing, and fashion.
“Your interest in promoting MSMEs across Nigeria has changed the fortunes and stories of small businesses. We remain grateful for this administration’s support,” the governor said, praising both the President and Vice President for prioritising grassroots development.
In a goodwill message, Ekiti State Governor Biodun Oyebanji lauded the initiative as the first deliberate attempt by any Nigerian government to align development with grassroots growth through direct interface between policymakers and business operators.
In his remarks, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, praised both the federal and Ondo State governments for their contributions to the MSME sector.
He urged stakeholders to support made-in-Nigeria products and promote local entrepreneurship.
Director General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Charles Odii, said the Clinics were already delivering results, with overwhelming positive feedback from participants in Ondo and previous host states.
Special Adviser to the President on Job Creation and MSMEs, Mr Temitola Adekunle-Johnson, also described the initiative as a success, citing real-time resolutions of regulatory issues as one of its key wins.
Earlier, during a courtesy visit to the Ondo State Council of Chiefs, Vice President Shettima described President Tinubu as a “son of the South West” and a “man of courage,” referencing key reforms such as fuel subsidy removal, curbing multiple taxation, and reviving the Lagos-Badagry-Calabar Highway corridor.
Chairman of the Ondo State Council of Chiefs, Oba (Dr) Ajibade Gbadegesin Ogunoye III, also commended the administration’s economic decisions, saying subsidy removal has freed resources for broader national development. He pledged the support of the traditional council to both federal and state governments.
The highlight of the event was the Vice President’s tour of the product exhibition, where he interacted with small business owners from Ondo and neighbouring states.
He was accompanied by Governors Aiyedatiwa and Oyebanji, among other dignitaries.
