By PHC Telegraph
The Federal Government says it has approved the sum of two hundred billion naira as grants designed to encourage small scale business entrepreneurs in the country to acquire capital and equipment to grow their investment.
The President, Bola Ahmed Tinubu said in a statement that the gesture was intended to turn Nigeria into a productive economy and create opportunities for striving businesses which struggle daily to break even.
“I know how much hard work it takes to keep a small business running in Nigeria. From raising capital to paying workers and buying equipment, our entrepreneurs face challenges that government must continue to address”, the President disclosed.
“Vice President Kashim Shettima received, on my behalf, representatives of MSMEs from across the country, along with the Minister of State for Industry and the heads of SMEDAN, NEXIM, NEPC, and ITF.
“We have approved ₦200 billion in grants and financing support for small businesses and manufacturers. I want to see more of our entrepreneurs access the capital they need to grow.”
he lauded the Vice President, saying his office has been working in collaboration with the Special Adviser on Job Creation and MSMEs in ongoing efforts by the administration not only to engage business owners but also give them a say in what is being done to transform the economic sector.
“I am also pleased that the Office of the Vice President, working through the Special Adviser on Job Creation and MSMEs, is expanding its engagement with business owners. The Vice President-led quarterly meetings must give entrepreneurs a real say in our decisions and ensure that commitments are followed through.
“I thank the MSME representatives for their visit and their confidence in our administration. We have more work to do, and I intend to see it done”, Tinubu added.
