Shettima Unveils Ultra-Modern MSME Fashion Hub, Announces N150,000 Grants For Enugu Entrepreneurs

Vice President Kashim Shettima announced Thursday that the federal government will provide N150,000 grants to several business owners in Enugu, while launching Nigeria's largest Ultra-Modern MSME Fashion Hub.

Shettima said in a statement titled, "Again, FG doles out N150,000 grant each to business owners," that President Bola Tinubu was dedicated to creating a business environment that offered incentives and opportunities to help transform MSMEs into strong enterprises.

Stanley Nkwocha, senior special assistant to the vice president on media and communication, shared the statement on X.

"Distinguished ladies and gentlemen, I am pleased to announce that His Excellency, President Bola Tinubu, has mandated a grant of N150,000 each to be awarded to outstanding exhibiting MSMEs at today's event," the vice president said, according to the statement.

"Let me assure you that this is an outright grant, with no requirement for repayment, reflecting our commitment to nurturing MSMEs and fostering economic growth."

The vice president expressed his approval of the federal government's efforts to support the growth and survival of the nation's MSMEs, emphasizing that a strong economy relied on thriving small businesses.

The vice president pointed out that small businesses made up 96% of all companies in Nigeria and contributed over 45% to the country's GDP. He stressed that without these businesses, Nigeria would not be where it was today.

Shettima also mentioned that the 5th Expanded MSME Clinic was a platform for direct interaction with regulatory agencies like NAFDAC, BOI, CAC, SON, NEPC, and SMEDAN, as well as financial institutions and business support organizations. This allows MSMEs to discuss their specific challenges with these agencies and receive immediate solutions.

Speaking about the Enugu Fashion Hub, Shettima said that the formation of the business facility, along with other hubs established across the country, was a crucial step toward achieving economic growth.

The hub was expected to produce a variety of fashion products including military uniforms, school uniforms and corporate wear, all while meeting global standards and creating about 48,000 jobs.

Aside from being one of the largest facilities, it was equipped with advanced technology to support the fashion manufacturing sector in Enugu State. This will increase production capacity and enable cost-effective operations.