President Bola Ahmed Tinubu has reaffirmed his administration’s strong resolve to address the critical hurdles confronting small businesses and manufacturers in Nigeria by approving a ₦200 billion injection structured for grants and financing support.
Acknowledging the immense pressures business owners face from raising capital and buying equipment to keeping up with worker payrolls, the President emphasized that active government intervention remains essential to sustaining the backbone of the nation’s economy.
The announcement followed a high-level meeting at the State House, where Vice President Kashim Shettima received representatives of Micro, Small, and Medium Enterprises (MSMEs) from across the federation on the President’s behalf.
The strategic session also included the Minister of State for Industry alongside the chief executives of key developmental and regulatory bodies, including the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Nigerian Export-Import Bank (NEXIM), the Nigerian Export Promotion Council (NEPC), and the Industrial Training Fund (ITF).
To ensure that the financial support translates into organic, long-term enterprise growth, President Tinubu noted that structured engagement is being scaled up through the Office of the Vice President, specifically via the Special Adviser on Job Creation and MSMEs.
Under this arrangement, mandated quarterly meetings led by the Vice President will provide entrepreneurs with a direct platform to contribute to policy decisions and hold authorities accountable for implemented commitments.
Expressing appreciation to the MSME delegates for their continuous trust in the administration, the President signaled that more structural interventions are in the pipeline to ensure Nigerian enterprises thrive locally and compete globally.
