Vice President Kashima Shettima on Tuesday mentioned that greater than 39,000 Micro, Small, and Medium Enterprises (MSMEs) have obtained roughly N2.5 billion in Federal Authorities interventions below the President Bola Tinubu-led administration.
The vice chairman, who disclosed this on the Continental Occasions & Sports activities Complicated in Katsina, additionally said that 23 rural enterprises had accessed over N112 million below the Rural Space Programme on Funding for Improvement within the state.
Shettima, who’s within the state for a two-day official go to, additional introduced that President Tinubu has permitted an unconditional grant of N250,000 for every excellent MSME exhibiting on the ninth Expanded Nationwide MSME Clinic, held in Katsina on Tuesday.
“President Bola Ahmed Tinubu has by no means backed down from making a conducive atmosphere for Nigerian MSMEs. This N250,000 grant is non-repayable and demonstrates our dedication to eradicating limitations which have traditionally held again our enterprises,” Shettima said.
He revealed that the federal authorities has launched a N75 billion MSME Intervention Fund by means of the Financial institution of Trade, offering as much as N5 million in loans to 75,000 MSMEs nationwide at an annual rate of interest of 9 per cent, alongside a N50 billion Presidential Conditional Grant Scheme supporting a million nano companies with N50,000 every throughout 774 native governments.
The vice chairman said that Katsina is dwelling to over 1.7 million MSMEs working in clusters that embody agriculture, commerce, crafts, companies, and digital industries, with robust participation by ladies and youth, demonstrating inclusive prosperity.
He mentioned that the federal authorities and the Katsina State Authorities had collectively launched a N5 billion Katsina State MSME Progress Fund in June 2024, which has disbursed over N576 million to 237 beneficiaries.
He mentioned the Expanded MSME Clinic brings authorities nearer to small companies, permitting them to interact instantly with regulatory companies, monetary establishments, together with Financial institution of Trade, Entry Financial institution, and Wema Financial institution, and assist organisations like CAC, NAFDAC, and SMEDAN for on-the-spot options.
He known as on associate companies to transcend offering options by guaranteeing steady steerage and follow-up with entrepreneurs.
The vice chairman additionally counseled Governor Dikko Radda for establishing the Katsina State Enterprise Improvement Company (KASEDA), describing the initiative as proof that the governor is dedicated to constructing small enterprises into nationwide and international manufacturers.
On his half, Governor Radda introduced a six-month post-event mentorship programme for all entrepreneurs taking part within the clinic, revealing that over 100,000 beneficiaries throughout the state’s 34 native governments have obtained assist by means of KASEDA since 2023.
He disclosed that the state has established a N5.5 billion MSME fund, with over N1 billion already disbursed to 701 companies, making the state a mannequin for enterprise growth in northern Nigeria.
“This clinic will stand out from all others. I’ve directed KASEDA to work with SMEDAN, BOI, NITDA, NEPC, SON, FIRS, and CAC to supply post-event assist to each registered participant. The clinic doesn’t finish right this moment,” Radda mentioned.
He introduced that each entrepreneur will likely be enrolled in a six-month enterprise monitoring programme, obtain continued assist in entry to finance and certification, have their information built-in into the KASEDA MSME Portal, and take part in focused capacity-building periods.
The governor mentioned his administration has accomplished an MSME census and cluster mapping, developed a state MSME coverage with a five-year strategic plan, established frequent facility centres in vogue, leather-based, and meals processing, and educated 1,500 youth below the NATA-MASP apprenticeship programme.
He counseled the vice chairman for extending his keep in Katsina to personally grace the first Katsina MSME Awards and the Dikko Social Innovation Academy Commencement Ceremony.
