Vice President Shettima’s Visit Boosts Entrepreneurship and SMEs in Ogun State
Nigeria’s Vice President, Senator Kashim Shettima, recently embarked on a one-day working visit to Ogun State, focusing on boosting entrepreneurship and supporting small and medium enterprises (SMEs). During his visit, he commissioned the Modern Adire Shared Facility at Adire International Market Asero and the National MSME Clinics, Ultra-Modern Fashion Hub, Ajebo Road, both in Abeokuta.
Interacting with local entrepreneurs, particularly those involved in producing the traditional tie and dye fabrics known as “Adire,” Vice President Shettima expressed admiration for their high-quality products. In a significant announcement during the National Micro, Small, and Medium Enterprise Clinic, he conveyed a message of hope from President Bola Tinubu, promising a cash reward of N150,000 to every exhibitor at the clinic. Additionally, he announced a grant of N100,000 for over 200 owners of new stores at the Modern Adire Shared Facility.
Governor Dapo Abiodun further bolstered support for SMEs by announcing conditional grants totaling N2 billion. These grants include N100,000 for 10,000 MSMEs, N500,000 for 2,000 SMEs, and N50,000 for 5,000 market women in the state. The visit underscored the commitment of both federal and state governments to support businesses and transform innovative ideas into successful ventures, ultimately contributing to economic growth and job creation.
The significance of SMEs cannot be overstated, as they contribute significantly to Nigeria’s Gross Domestic Product (GDP) and employment rate. Despite facing challenges such as limited access to finance and high infrastructure costs, SMEs remain crucial drivers of economic development, particularly in rural and urban areas. Recognizing their importance, government policies are increasingly geared towards providing grants, infrastructure, and other forms of support to foster their growth and contribution to the economy.
Vice President Shettima’s visit to Ogun State exemplifies a strategic intervention aimed at fortifying small businesses and empowering entrepreneurs. It is now incumbent upon the beneficiaries of these grants to seize the opportunity, expand their businesses, and play a meaningful role in the socio-economic development of the country.
