FG builds 200,000 yam storage facility in Benue state for small businesses

FG builds 200,000 yam storage facility in Benue state for small businesses

- The federal government has displayed its commitment to support the growth of small businesses across the country

- One of the ways to help small businesses is through the provision of critical infrastructure

- The government has built a 200,000 capacity yam storage facility for small businesses in Benue

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The federal government will on Tuesday, June 9, inaugurate a 200,000 capacity yam storage facility for Micro, Small and Medium Enterprises (MSMEs) in Benue.

The facility located at the Zaki Biam International Yam Market in the state is part of the National MSMEs shared facility scheme being implemented by the federal government under the National MSMEs Clinics.

The shared facility project is an initiative of the National MSMEs Clinics aimed at providing for the needs of businesses under a production cluster arrangement with the pilot schemes in Oyo and Bauchi states.

FG builds 200,000 yam storage facility in Benue state for small businesses
Buhari's government is doing its best to help small businesses in the country. Photo credit: Aso Rock
Source: Twitter

According to the special assistant to the president on MSMEs in the office of the vice president, Tola Johnson, the facility will cater for the needs of smallholder farmers and MSMEs who hitherto lost huge revenues due to lack of access to adequate storage facilities.

The initiative is seen as one of the ways the federal government is encouraging small business owners in the country.

The Buhari's government has been very vocal about its plan to diversify the economy, using agriculture as a springboard to the initiative.

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Meanwhile, the Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele, has assured citizens that Nigeria’s $37billion current foreign reserves is “robust to support the economy.”

Emefiele gave the assurance during a virtual meeting held recently with Chief Executive Officers of conglomerates in the country.

In a related development, the Nigerian National Assembly says it is ready to speedily pass the local content enforcement bill.

The bill which is known as, the Nigerian Local Content Development and Enforcement Bill 2020, passed second reading on the floor of the House of Representatives, on Tuesday, May 19.

Amongst other things, the bill seeks to expand the scope of local content in the extant NOGICD Act, thereby putting the Nigerian economy in the hands of Nigerians, creating jobs and enhancing the value of indigenous businesses in the post-COVID-19 era.

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