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<\/p>\nIn a move that reaffirms Nigeria\u2019s commitment to empowering small businesses, President Bola Ahmed Tinubu has approved a N2.5 billion grant for 39,000 micro, small and medium enterprises (MSMEs) in Katsina State, a milestone intervention designed to expand job creation and strengthen local economies.<\/p>\n
The announcement was made by Vice President Kashim Shettima at the 9th Expanded National MSME Clinic in Katsina during his two-day working visit. Each beneficiary will receive N250,000 as a non-repayable stimulus grant aimed at supporting enterprise stability and growth.<\/p>\n
According to the Vice President, the initiative highlights the President Tinubu administration\u2019s resolve to remove long-standing barriers facing Nigerian entrepreneurs.<\/p>\n
\u201cPresident Bola Ahmed Tinubu has never backed down from creating a conducive environment for MSMEs. This N250,000 grant is non-repayable and demonstrates our commitment to removing barriers that have historically held back our enterprises,\u201d Vice President Shettima said.<\/p>\n
The MSME Clinic model has evolved into a vital bridge between government institutions and the business community, connecting entrepreneurs with regulatory agencies 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), and financial partners like Bank of Industry (BOI), Access Bank, and Wema Bank for real-time solutions.<\/p>\n
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Beyond the grant, the federal government has introduced a series of strategic funding schemes to strengthen the MSME ecosystem. These include the N75 billion MSME Intervention Fund via the BOI, providing loans of up to N5 million to 75,000 MSMEs nationwide at a 9% annual interest rate, and the N50 billion Presidential Conditional Grant Scheme, which has supported one million nano businesses across Nigeria\u2019s 774 local governments.<\/p>\n
In Katsina, the Governor, Mr. Dikko Radda\u2019s administration has complemented the federal push through the establishment of the Katsina State Enterprise Development Agency (KASEDA) and the Katsina Enterprise Academy, institutions that have placed the state at the forefront of enterprise development.<\/p>\n
Mr. Radda revealed that N1 billion out of the state\u2019s N5.5 billion MSME Fund has already been disbursed to 701 businesses. He further announced a six-month post-event mentorship and business tracking programme for MSMEs participating in the clinic, integrating their data into the KASEDA MSME Portal for continuous support and access to finance, certification, and training.<\/p>\n
\u201cThis clinic will stand out from all others as I have directed KASEDA to work with SMEDAN, BOI, National Information Technology Development Agency (NITDA), Nigerian Export Promotion Council (NEPC), Standards Organisation of Nigeria (SON), Federal Inland Revenue Service\u00a0(FIRS), and CAC to provide post-event support to every registered participant,\u201d the governor stated.<\/p>\n
Katsina\u2019s initiatives, including an MSME census, cluster mapping, and a five-year strategic plan, align with Nigeria\u2019s broader economic goal – to transform MSMEs from survivalist ventures into engines of inclusive growth, manufacturing, and export diversification.<\/p>\n
For StakeBridge IRPR Consulting Limited, a firm that helps organizations build visibility, investor trust, and policy alignment, this development reinforces the importance of effective communication between government, enterprises, and investors. It demonstrates how strategic stakeholder engagement and policy-backed funding can nurture Nigeria\u2019s entrepreneurial landscape, bridging capital access with credibility and growth potential.<\/p>\n","protected":false},"excerpt":{"rendered":"
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