Vice-President Kashim Shettima has reiterated that Micro, Small and Medium Enterprises (MSMEs) are the cornerstone of Nigeria’s economic growth and sustainable development. he made the remarks during the seventh expanded national MSME clinic, tagged “Ondo 2025,” in Akure on Tuesday.
As the special guest of honour, shettima highlighted the vital role of MSMEs, noting that they are responsible for an impressive 90 per cent of all jobs in the country. the vice-president underscored that these small businesses are essential for unlocking the nation’s full economic potential.
He also expressed his gratitude to the state of Ondo for hosting the significant event, which provides a platform to support the sector.
Shettima said small business enterprises were key to poverty alleviation in the country and the growth must be hand in hand.
He said, already 65 MSMEs from Ondo State have accessed part of the N75 billion intervention fund through the Federal Government by providing affordable financial funds for entrepreneurs.
He urged MSMEs to take full advantage of the opportunity, urging partner agencies to continue to support and “it would not be a one way gesture.”
He appreciated the governor for his commitment to infrastructural development in the state.
“The President is determined to revive the oil palm industry in the country. He has given directive that we should plant 100 million palm trees.
“The highest the country earned from oil palm was $25 billion in 2011 during President Goodluck Jonathan’s era. We are also going to revive the Cocoa industry in the country.
”Opportunity abounds and we have no business being poor and the President is determined to reposition Nigeria economy.
”We are on a path to succeed,” he stated.
In his remarks, Gov. Lucky Aiyedatiwa said the state had made significant efforts to secure funding for MSMEs through partnerships with key financial institutions.
Aiyedatiwa said the state had keyed into the Federal Government initiative of the Bank of Industry’s N75 billion MSME intervention programme, by providing entrepreneurs with affordable financing options in the face of the current economic realities.
“Our MSMEs have also benefited from the Entrepreneurial Training Programme for MSMEs by the Development Bank of Nigeria, equipping them with essential skills and knowledge to grow their businesses beyond the shores of the country.
“We have also implemented initiatives to provide grants and support for skills development through our One Youth One Skill initiative that has birthed the O’datiwa Skills Development Enterprise Centres (OSDEC).
“So, also under the Ondo State Micro-Credit Agency (ODSMA), we have been granting interest-free loans to artisans, traders and other small business owners.
“Last year, ODSMA disbursed over N220 million to artisans and traders across the State,” he said.
Also speaking, Gov. Abiodun Oyebanji of Ekiti, said with the MSMEs clinic, there was a deliberate attempt to develop people and grow small businesses.
Oyebanji urged all entrepreneurs to continue to patronise made in Nigeria goods, noting that the best way to develop a nation is productivity
“As they are producing, I charge all of us to patronise them, I know after today’s clinic, the fate of SMEs will not remain the same again, we want every other state in Nigeria to key into this,” he said.
The Co-patron of MSMEs in Nigeria, Ooni of Ife, Oba Adeyeye, Ogunwusi said over 90 per cent of his project at the Ojaja Parks across the country were done by MSMES.
