President Bola Ahmed Tinubu has approved a ₦250,000 non-repayable grant for every outstanding Micro, Small, and Medium Enterprise (MSME) that participated in the Expanded National MSME Clinic held in Katsina State.
The announcement was made by Vice President Kashim Shettima during the launch of the ninth edition of the MSME Clinic — a federal initiative designed to empower small businesses, stimulate innovation, and drive local economic growth.
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Empowering Small Businesses Across Nigeria
According to the Vice President, the Expanded MSME Clinic was created to bring essential government services closer to entrepreneurs, helping them overcome barriers that limit business success. The clinic connects MSMEs directly with key regulatory and financial institutions such as:
- Corporate Affairs Commission (CAC)
- National Agency for Food and Drug Administration and Control (NAFDAC)
- Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)
- Bank of Industry (BOI)
These agencies provide on-the-spot solutions to business registration, financing, and compliance issues that often hinder growth.
A Non-Repayable ₦250,000 Grant for Top Performers
Shettima highlighted that the ₦250,000 grant is non-repayable, symbolizing the government’s resolve to remove barriers for high-performing small businesses. He reaffirmed the Tinubu administration’s dedication to building a strong, inclusive economy where local entrepreneurs can thrive without unnecessary financial burdens.
“MSMEs remain the backbone of our national vision. We came to office committed to easing the nation’s economic burden, and our support for businesses remains a top priority,” said Shettima.
Additional Federal Government Support for Entrepreneurs
The Vice President also unveiled several ongoing interventions aimed at strengthening the MSME ecosystem:
- ₦75 Billion MSME Intervention Fund: Offers loans up to ₦5 million at 9% annual interest to 75,000 enterprises.
- ₦50 Billion Presidential Conditional Grant Scheme: Provides ₦50,000 each to one million nano businesses across Nigeria’s 774 local governments.
- ₦75 Billion Manufacturers Fund: Offers loans up to ₦1 billion to manufacturing firms to reduce production and logistics costs.
Additionally, under the RAPID Programme, 23 MSMEs in rural Katsina have already received more than ₦112 million to expand their operations and create local jobs.
Katsina State Takes the Lead
During the event, Shettima announced the establishment of the ₦5 billion Katsina State MSME Growth Fund, a joint initiative between the federal and state governments. So far, ₦576 million has been disbursed to 237 local enterprises to support expansion and job creation.
He praised Governor Dikko Radda for launching the Katsina State Enterprise Development Agency (KASEDA) — an initiative dedicated to transforming local entrepreneurs into global business leaders.
With more than 1.7 million MSMEs, Katsina is quickly emerging as a major hub for agriculture, craftwork, services, and digital enterprises.
Driving Inclusive Economic Growth
Vice President Shettima also emphasized inclusion in business development, especially for women and youth, noting that sustainable progress must benefit all Nigerians.
“Growth without inclusion is but a mirage,” he stated.
The new ₦250,000 grant and accompanying support programs signal a renewed federal push to make small businesses the engine of Nigeria’s economic recovery and resilience.
