In another bold move to empower small businesses across the country, the Federal Government of Nigeria has disbursed ₦250,000 each in unconditional grants to outstanding small business owners in Ondo State.
The disbursement was announced by Vice President Kashim Shettima during the official launch of the 7th Expanded National MSME Clinic held in Akure, the state capital, on Tuesday.
The grant, described as a gift from the Nigerian people to the champions of local industry, is part of the Tinubu administration’s broader agenda to boost grassroots enterprises and economic inclusion.
> “This is not a loan. It is a gift from the Nigerian people, through their government. We see you, we value you, and we believe in your journey,” Shettima said.
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🏢 MSMEs: Key Drivers of the Economy
Speaking at the event, VP Shettima emphasized that Micro, Small, and Medium Enterprises (MSMEs) remain the heartbeat of Nigeria’s economy, contributing over 45% to the GDP and employing over 60 million Nigerians.
He stated that the administration's Renewed Hope Agenda places the success of MSMEs at the center of its economic policy, noting that no sustainable poverty alleviation effort can succeed without empowering these businesses.
> “MSMEs are the lifelines of households, the pulse of every community. They are the true engine of poverty alleviation,” the VP noted.
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💼 Federal Government’s Interventions for MSMEs
VP Shettima outlined several ongoing interventions aimed at supporting the growth of small businesses, including:
₦75 Billion MSME Intervention Fund via the Bank of Industry
₦50 Billion Presidential Conditional Grant Scheme for 1 million nano businesses (₦50,000 each)
₦75 Billion Manufacturers Fund offering loans up to ₦1 billion at 9% interest
He also said the Expanded MSME Clinics are platforms that offer real-time support by connecting business owners directly with regulators, financial institutions, and support agencies.
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🤝 State and Traditional Leaders Commend FG
Governor of Ondo State, Dr. Lucky Aiyedatiwa, praised the federal initiative, affirming that his government aligns with the MSME drive and has implemented impactful schemes in agriculture, manufacturing, and fashion.
Governor Biodun Oyebanji of Ekiti State, in his goodwill message, commended the Clinic’s real impact in his state, calling it a deliberate interface between government facilitators and business operators.
Also speaking, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, urged continued support for made-in-Nigeria products to elevate local entrepreneurs.
The Chairman of Ondo State Council of Chiefs, Oba (Dr.) Ajibade Gbadegesin Ogunoye III, applauded President Tinubu’s removal of fuel subsidy, which he said has allowed for better funding of productive sectors.
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🎤 Final Words from the Presidency
The Special Adviser to the President on Job Creation and MSMEs, Mr. Temitola Adekunle-Johnson, said testimonials from the Clinics show significant impact on businesses across the country. He assured that the Ondo edition would continue this success.
The event also featured a tour of exhibition booths by the Vice President and other dignitaries, where locally made products by small businesses were showcased.
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✍️ Report compiled by the Editorial Team, Stone Reporters News
📍Akure, Ondo State | 🗓️ August 6, 2025
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