Business
Gov Mbah commends FG for disbursement of N150k grant to MSMEs in Enugu
Peter Mbah, the governor of Enugu State, has commended the federal government for directing the disbursement of N150,000 grant to micro, small, and medium enterprises (MSMEs) in the state, noting that the initiative aligns with the economic vision of the state.
President Bola Tinubu ha directed the disbursement of the sum, as disclosed by the Vice-President Kashim Shettima on Thursday while declaring open the fifth edition of the MSMEs clinic at the trade fair complex in the state.
The expanded national MSME clinics is one of the federal government’s incentives to revive a flailing economy, according to presidency aides.
In a statement, the presidency said the programme is being organised across the country to provide “on-the-spot solutions to challenges confronting MSMEs”.
The statement said the first, second, third and fourth editions were launched in Benue, Ogun, Ekiti and Jigawa states respectively earlier in the year.
Speaking at the launch, Shettima said the N150,000 was an unconditional grant that does not require 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,” he said.
“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.”
Shettima also inaugurated the “ultra-modern” MSME fashion hub, while expressing the federal government’s commitment to providing incentives for businesses.
He said the hub has the capacity to create about 48,000 jobs, as well as meet global standards.
The vice-president commended Peter Mbah, governor of Enugu, for his support in the establishment of the hub.
“Aside from standing as one of the largest we’ve commissioned, it is equipped with cutting-edge technology to support the fashion manufacturing cluster in Enugu state, boosting production capacity and enabling economies of scale,” Shettima added.
“This hub has the potential to produce a wide array of fashion products, from military uniforms to school and corporate wear, meeting global standards and creating about 48,000 jobs in the process.”
Meanwhile, Mbah thanked the federal government for the support to Enugu, adding that the initiative aligns with the economic vision of the state.
In a post via his X account on Thursday, the Enugu governor also commended Shettima for the visit, stating that he was greatly delighted to welcome him
“I was greatly delighted to welcome the Vice President, H.E. Senator Kashim Shettima, who was on official visit to Enugu today. In continued demonstration of his commitment to the growth of MSMEs and his love for our state, he commissioned the Enugu State Fashion and Garment Hub, a facility developed by the Office of the Vice President in partnership with Enugu government through the Enugu SME Centre. He also visited the Expanded National MSME Clinics, organized by the federal government in collaboration with Enugu State,” he said.
“The hub is a state-of-the-art facility that serves as a co-working space for fashion entrepreneurs, small and large-scale apparel manufacturers, and trainee designers. Also, the 5th Expanded National MSME Clinics offer on-the-spot solutions for business challenges such as regulatory approvals, access to grants, and low-interest loans.
“The clinics came as a gift of priceless value to young entrepreneurs in Enugu State and beyond. We cannot thank the federal government enough for the programme which aligns perfectly with our economic vision. Like the federal government, we recognize that the push to substantially grow the economy is closely tied to the viability of MSMEs.
“Once again, I would like to thank the Vice President for his unquestionable affection for the South East and its development. I also thank other members of his entourage, among them the Deputy Speaker, House of Representatives, Rt. Hon. Benjamin Kalu. The VP’s empathy and humanity were in display today when he made substantial personal donations to some of the exhibitors, providing them the much-needed capital to expand their businesses. We do not take for granted the sacrifice he made in visiting us, nor his kind words of praise for our modest effort in ushering in the rebirth of our state.”
