Vice President Kashim Shettima recently emphasized that Micro, Small, and Medium Enterprises (MSMEs) represent 90 percent of businesses in Nigeria and sustain approximately 60 million jobs. Speaking at the 8th National MSME Awards in Abuja, Shettima affirmed that the administration of President Bola Tinubu is committed to fostering an enterprise-led economy through infrastructure development, business grants, and strategic economic reforms.
Represented by Deputy Chief of Staff Senator Ibrahim Hassan Hadejia, the Vice President noted that the government aims to decentralize economic opportunities to ensure broad prosperity. He highlighted that the current administration is creating an ecosystem that encourages innovation and removes historical hurdles for small business owners.
The government’s initiatives include the Expanded National MSME Clinics, which provide direct access to regulatory agencies and financial support across all geopolitical zones. According to Shettima, these efforts have resulted in the establishment of 21 shared infrastructure facilities, contributing to the creation of 650,000 jobs. Furthermore, substantial funding has been disbursed through the Development Bank of Nigeria and the Nigerian Export-Import Bank to support youth-led, women-led, and export-oriented businesses.
During the event, a new book titled Building Nigeria, Empowering MSMEs was unveiled, documenting the government’s various interventions for enterprise growth. The awards ceremony, themed the Renewed Hope Edition, shifted its focus toward providing liquid capital to winners to better assist their business scaling. Dr. Ifeanyi Okeke, Director-General of the Standards Organisation of Nigeria, noted that the selection process involved over 13,000 entries across diverse sectors including agriculture, technology, and manufacturing. Olanreforward Foods & Farms Ltd received the prestigious MSME of the Year award, recognizing their significant impact on the national economy.
