FG gives N150,000 grant to small business owners in Enugu

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Speaking during the launch of the 5th Expanded National MSME Clinic in the Coal City, the Vice President noted that the N150,000, which is an outright grant that has no requirement for repayment, reflects the commitment of the Tinubu administration to nurturing MSMEs and fostering economic growth in the country.

“The only way we can achieve this is by standing united, from Abia to Zamfara, in pursuit of a shared objective. Small businesses account for 96 per cent of all businesses in Nigeria and contribute more than 45% to our GDP. I am sure you understand what this means: without you, Nigeria would be nowhere,” he declared.

Speaking on the Enugu Fashion Hub, he said the business facility, along with other hubs established across the country, is a stepping stone to the desired economic height, even as he expressed the belief that the hub – the largest commissioned in Nigeria so far – will meet global standards and create about 48,000 jobs.

VP Shettima commended Governor Peter Mbah of Enugu for the state’s support in ensuring the establishment of the hub, noting that the federal government is looking “forward to partnering with Coal City State to make the Enugu Fashion Hub a centre of productivity and attraction.” The Governor said there is a convincing need to grow MSMEs in size and capacity given the potential for job creation, elevation of livelihoods and general economic transformation, noting that the newly commissioned fashion and garment hub will reinvigorate the entrepreneurship spirit in Enugu youths.

He specifically praised VP Shettima’s empathy towards the less privileged, stressing that leadership is really about identifying with the people and listening to the problems confronting them.

 

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