President Tinubu Announces N200bn Support For Small Businesses, Manufacturers

By Micheal Chukwuebuka

President Bola Tinubu has announced the approval of ₦200 billion in grants and financing to support small businesses and manufacturers across Nigeria.

Tinubu disclosed this after Vice President Kashim Shettima received representatives of Micro, Small and Medium Enterprises (MSMEs) from different parts of the country on his behalf.

The meeting also had in attendance the Minister of State for Industry and heads of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Nigerian Export-Import Bank (NEXIM), Nigerian Export Promotion Council (NEPC) and Industrial Training Fund (ITF).

The president acknowledged the difficulties Nigerian entrepreneurs encounter in running their businesses, including raising funds, paying employees and acquiring essential equipment.

He stressed the need for more business owners to benefit from the approved funding, noting that access to capital would help them expand their operations.

Tinubu also disclosed that the Office of the Vice President, through the Special Adviser on Job Creation and MSMEs, was strengthening its engagement with business owners.

According to him, the quarterly meetings led by Shettima must provide entrepreneurs with an opportunity to influence government policies and ensure that promises made to them are fulfilled.

He appreciated the MSME representatives for their visit and expressed gratitude for their confidence in his administration.

“We have more work to do, and I intend to see it done,” the president added.