Shettima: MSMEs Driving Prosperity Under Tinubu's Reforms

Vice President Kashim Shettima declared that President Bola Tinubu's administration is actively constructing a sustainable, enterprise-driven Nigeria, emphasizing the crucial role of Micro, Small, and Medium Enterprises (MSMEs) in enhancing livelihoods through targeted infrastructure, business grants, and economic reforms. Speaking at the 8th National MSME Awards in Abuja, Shettima highlighted the government's commitment to creating an entire ecosystem that nurtures innovation, provides essential infrastructure, and dismantles historical barriers hindering small businesses.

Represented by Deputy Chief of Staff Senator Ibrahim Hassan Hadejia, Shettima urged entrepreneurs to persist in their endeavors, assuring them of continued government support. "Nigeria needs your ideas, your jobs, and your leadership. I have no doubt that the federal government, along with state governments and our private-sector partners, will continue to build an enterprise-led nation where creativity is rewarded, small businesses grow into conglomerates, and prosperity is shared by all," he stated.

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Nigeria needs your ideas, your jobs, and your leadership. I have no doubt that the federal government, along with state governments and our private-sector partners, will continue to build an enterprise-led nation where creativity is rewarded, small businesses grow into conglomerates, and prosperity is shared by all.

Shettima underscored the significance of MSMEs as the "engine room" of Nigeria's economy, responsible for improving citizens' lives and transforming communities. He noted that MSMEs constitute 90% of all Nigerian businesses and are the largest employers, providing jobs for over 60 million people. "Through bold and innovative ideas, and through sweat and courage, our MSMEs are improving the livelihoods of Nigerians and transforming our communities through the prosperity they create," he explained.

Outlining key achievements since 2023, Shettima mentioned the expansion of National MSME Clinics across all six geo-political zones, enabling direct engagement between business owners and regulatory agencies. Furthermore, 21 state-of-the-art Shared Infrastructure Facilities have been established, offering access to high-speed internet, modern machinery, and collaborative spaces, which have supported the creation of 650,000 jobs. Financial access has also been a priority, with the ₦75 billion MSME Intervention Fund and the ₦50 billion Presidential Conditional Grant Scheme expanding capital availability. The Development Bank of Nigeria has disbursed ₦874 billion to approximately 751,000 women and youth-led MSMEs.

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Ninety per cent of all Nigerian businesses are MSMEs. They are the largest employers of labour in this country, providing jobs for over 60 million of our people. Through bold and innovative ideas, and through sweat and courage, our MSMEs are improving the livelihoods of Nigerians and transforming our communities through the prosperity they create.