Vice President Kashim Shettima says Micro, Small and Medium Enterprises (MSMEs) account for 90 per cent of all businesses and over 60 million jobs in Nigeria.
Shettima, represented by the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, stated this on Saturday in Abuja.
This was during the 8th National MSME Awards.
The News Agency of Nigeria (NAN) reports that the event featured the launch of a book, titled: “Building Nigeria, Empowering MSMEs: A Compendium of the Federal Government’s Initiatives and Interventions for Nigerian MSME Growth.”
The book was written by the Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson.
The vice president described small businesses as the engine room of the country, adding that MSMEs improve the livelihoods of the citizens and transform communities.
Shettima said: “Ninety percent 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.”
The vice president said that the administration of President Bola Ahmed Tinubu was building a sustainable and enterprise-led Nigeria.
The core vision, according to him, is to decentralise economic opportunities so that prosperity is shared equitably among all citizens.
He noted that the administration was building an entire ecosystem that nurtures innovation, provides essential infrastructure, and removes barriers that have held back small businesses in Nigeria.
Shettima urged winners of the awards and every Nigerian entrepreneur to keep building their businesses, assuring them of government support.
He said: “Nigeria needs your ideas, your jobs, and your leadership.
“The Federal and State Governments, and private-sector partners, will continue to build an enterprise-led nation.
“Where creativity is rewarded, small businesses grow into conglomerates, and prosperity is shared by all.”
Shettima said one of the central pillars of Tinubu’s Renewed Hope Agenda was creating an enabling environment for MSMEs to thrive and prosper instead of confining them to grants and loans.
According to him, since 2023, the Expanded National MSME Clinics have partnered with state governments to take it to all six geopolitical zones.
He added that the clinics have enabled small business owners to engage directly with regulatory agencies, financial institutions, and business support organisations.
He said: “We have institutionalised 21 state-of-the-art Shared Infrastructure Facilities, providing affordable access to high-speed internet, modern machinery, and collaborative spaces, from digital hubs for our tech innovators to shared production spaces for our fashion designers.”
The vice president said these hubs have supported the creation of 650,000 jobs.
He added: “On the question of financial access, we have moved with deliberate force.
“Through the provision of the N75 billion MSME Intervention Fund and the N50 billion Presidential Conditional Grant Scheme, we have expanded the pool of capital available to our enterprises.
“Through the Development Bank of Nigeria, we have disbursed N874 billion to approximately 751,000 women and youth led MSMEs.”
Shettima also said that the Tinubu-led administration had provided over N394.88 billion in financing to export-oriented enterprises through the Nigerian Export-Import Bank.
He said: “And under the Skill-Up Artisans programme, we have trained over 165,000 artisans and equipped them with the resources to flourish.”
On the book launched at the event, the vice president explained that many of the administration’s efforts to support MSMEs are carefully documented in it.
According to him, the book stands as a faithful record of Tinubu’s commitment to the prosperity of Nigerian enterprise and a guide for all who wish to understand the work we have undertaken.
He further described the National MSME Awards as a key expression of the broader commitment to the administration’s Renewed Hope Agenda.
He said: “Across the seven editions held so far, more than 50 verified small business owners have been recognised and rewarded for their outstanding contributions to our economy.
