Tinubu’s Administration Prioritizes Protection of MSMEs
Nigeria’s Vice President, Kashim Shettima, emphasized on Wednesday the commitment of President Bola Tinubu’s administration to safeguard businesses in Nigeria. Shettima stated that businesses are not only the foundation of a society but also a reflection of the government’s direction and the pace at which it is progressing.
When he commissioned the corporate headquarters of the Small and Medium Enterprise Development Agency of Nigeria in Abuja, Shettima reiterated the importance of reinforcing the protection of enterprises in Nigeria at this time.
A statement signed by the Senior Special Assistant to the VP of Media and Communications, Stanley Nkwocha, disclosed the VP’s affirmation that the Tinubu administration strategically focuses on job creation, capital accessibility, economic growth, and poverty eradication to revitalize the economy.
Shettima reiterated, “These enterprises not only stand as the very bedrock of our society but also reflect the direction the government is headed and the velocity with which we do so.
“This moment solidifies His Excellency President Bola Tinubu’s assurance to protect our enterprises. It resonates deeply within our economic revitalization plan.”
He pointed out that the administration’s focus on job creation, capital accessibility, economic growth, and poverty eradication forms the skeleton of its strategy to invigorate the economy, requiring tough yet essential decisions for success.
The VP also highlighted his recent inauguration of the National MSME Council as just the beginning of the measures set to pave the way for future developments.
Regarding President Tinubu’s plans to ensure the success of businesses and other economic enterprises in the country, the VP mentioned, “Notably, our partnership with the Bank of Industry to unveil a N75 billion, 9 per cent interest loan accessible to Nigerian MSMEs as of January 2024 is a pivotal stride.
“This initiative is geared towards fostering a more conducive and enabling business environment.”
He stressed that the current government not only boasts some of the nation’s finest talents but also champions those invested in ensuring Nigerian business owners have a prominent role in the nation’s progress.
He affirmed, “Our goal is to cultivate an ecosystem where Nigerian businesses become regular features in globally recognized publications such as Forbes, Bloomberg, and the Financial Times for the right reasons.”
He further emphasized that the administration’s readiness to take action has never faltered, and the event showcased just a component of the strategies in place to create a future filled with opportunities.
The Vice President congratulated the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, and the leadership of SMEDAN, expressing their readiness to translate concepts into tangible actions as a ray of hope for the entrepreneurial community and reflections of the administration’s sensitivity to the nation’s economic needs.
Minister of Industry, Trade and Investment, Dr. Uzoka-Anite, acknowledged Vice President Shettima’s unwavering support of MSMEs in the country. She emphasized that the completion and commissioning of the new SMEDAN Complex underscored the Tinubu administration’s dedication to the development of the MSME space. She also outlined other FG initiatives to build capacity and connect MSMEs to domestic and international markets.
Charles Odii, the Director General of SMEDAN, expressed gratitude to the Vice President for his support and guidance in realizing the project and leadership in the MSME space, assuring continued collaboration to ensure sustainable growth in the sector.
Dignitaries at the event included the Chairman of the Senate Committee on Industry, Trade and Investment, Fadahunsi Anthony; Chairman of the Senate Committee on Niger Delta, Asuquo Ekpenyong; Chairman of the House Committee on Small and Medium Enterprises, Mansur Soro; Minister of State for Youth Development, Mr. Ayodele Olawande; Permanent Secretary in the Ministry of Industry, Trade and Investment, Dr. Evelyn Ngige, as well as heads of government agencies and parastatals.
