Vice President Kashim Shettima has said that Micro, Small and Medium Enterprises (MSMEs) account for 90 per cent of all businesses and over 60 million jobs in Nigeria.
Shettima, who was represented by the Deputy Chief of Staff to the President, Sen. Ibrahim Hadejia, stated this on Saturday in Abuja at the 8th National MSME Awards.
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 nation, saying they improve citizens’ livelihoods and transform communities.
“90 per cent 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, sweat and courage, our MSMEs are improving the livelihoods of Nigerians and transforming our communities through the prosperity they create,” he said.
Shettima said the administration of President Bola Tinubu is building a sustainable, enterprise-led Nigeria by decentralising economic opportunities so that prosperity is shared equitably among all citizens.
He noted that the government is creating an ecosystem that nurtures innovation, provides essential infrastructure, and removes barriers holding back small businesses.
The Vice President urged award winners and Nigerian entrepreneurs to keep building their businesses, assuring them of government support.
“Nigeria needs your ideas, your jobs, and your leadership. The Federal and State Governments, along with 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,” he declared.
Shettima said one of the central pillars of the Renewed Hope Agenda is creating an enabling environment for MSMEs to thrive, rather than confining them to grants and loans.
He highlighted key interventions, including the Expanded National MSME Clinics across all six geopolitical zones, 21 state-of-the-art Shared Infrastructure Facilities that have supported the creation of 650,000 jobs, the N75 billion MSME Intervention Fund, the N50 billion Presidential Conditional Grant Scheme, and N874 billion disbursed through the Development Bank of Nigeria to about 751,000 women and youth-led MSMEs.
He added that the administration has provided over N394.88 billion in financing to export-oriented enterprises through the Nigerian Export-Import Bank and trained over 165,000 artisans under the Skill-Up Artisans programme.
On the book launch, Shettima described it as a faithful record of the administration’s commitment to MSME prosperity and a guide for understanding its interventions.
He also noted that the National MSME Awards, now in its 8th edition themed “Renewed Hope Edition,” represent a policy shift towards providing liquid capital instead of material prizes to support business growth.
Earlier, Adekunle-Johnson said the event recognised the efforts of persons living with disabilities and celebrated the most creative enterprises across the country.
The Director-General of the Standards Organisation of Nigeria (SON), Dr. Ifeanyi Okeke, said 13,859 entries were received, with winners selected from categories such as agriculture, information technology, creative industries, furniture, and others.
The Minister of Information and National Orientation, Mohammed Idris, described the awards as a demonstration of President Tinubu’s commitment to positioning MSMEs as the foundation of Nigeria’s economic prosperity under the Renewed Hope Agenda.
He said the award recipients dedicated their achievements to the President and expressed confidence in the administration’s policies.
The high point of the event was the presentation of the book by Mr. Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications. Awards and prizes were presented to winners across 13 categories.
