The nation’s economy cannot grow without the development of Micro, Small, and Medium Enterprises (MSMEs) as part of the integral process.
Vice President Kashim Shettima made this observation in Akure while addressing participants at the 7th edition of the Expanded National Micro, Small and Medium Enterprises (MSME) clinic tagged ‘Ondo 2025’ and held at the International Culture and Event Centre, The Dome.
Shettima, who was the special guest of honour at the event, described MSMEs as the foundation of the nation’s economy, adding that they account for a majority of jobs and must be supported for Nigeria to achieve inclusive growth.
The vice president stated that “MSMEs account for 90 percent of jobs in this country. They are key to poverty alleviation and national prosperity. The growth of our economy must go hand- in -hand with the growth of small businesses.”
While stating that 65 MSMEs from Ondo state have already accessed funding from the federal government’s N75 billion intervention fund and added that the Sunshine state is critical to the socio-economic development of the country.
He said: “This fund is designed to provide affordable financing for entrepreneurs. We must ensure that this support is not a one-way gesture. I call on all partner agencies to continue working hand-in-hand with MSMEs to deliver lasting impact,” he added.
While highlighting key sectors targeted for revival under the Renewed Hope Agenda, the vice president announced a major national initiative in agriculture, saying, “President Bola Ahmed Tinubu has given a clear directive that we should plant 100 million oil palm trees across the country. We’re also going to revive the cocoa industry.”
He took a moment to appreciate the Ondo state governor, Dr. Lucky Orimisan Aiyedatiwa, for his government’s infrastructure drive and support for small and medium scale enterprises.
He commended the governor for his visible commitment to development and noted that, “What I have seen here today is very impressive.”
In his address, Governor Aiyedatiwa, described the clinic as a revolutionary step towards unlocking the full potential of Nigeria’s economy through MSME development.