MSMEs powering Nigeria’s economy through jobs, innovation, says Shettima

Vice President Kashim Shettima has said the Federal Government is building an enterprise-led economy aimed at improving livelihoods and expanding opportunities for micro, small and medium enterprises (MSMEs) through reforms, infrastructure and access to finance.

Speaking at the 8th National MSME Awards in Abuja on Saturday, Shettima said the administration of President Bola Tinubu was focused on creating “an enabling environment” for small businesses to thrive rather than relying solely on grants and loans.

Represented by the Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, the Vice President described MSMEs as the backbone of Nigeria’s economy.

“Ninety per cent of all Nigerian businesses are MSMEs. They are the largest employers of labour in this country, providing jobs for over 60 million of our people. Through bold and innovative ideas, and through sweat and courage, our MSMEs are improving the livelihoods of Nigerians and transforming our communities through the prosperity they create,” he said.

Shettima said the government was building an ecosystem that nurtures innovation, provides essential infrastructure and removes long-standing barriers to business growth.

Highlighting the administration’s interventions, he said the Expanded National MSME Clinics had been taken to states across the country’s six geopolitical zones, allowing entrepreneurs to engage directly with regulators, financial institutions and business support organisations.

He added that 21 Shared Infrastructure Facilities had been established to provide affordable access to high-speed internet, modern equipment and collaborative workspaces.

“These hubs have supported the creation of 650,000 jobs,” he said.