- The federal government has initiated a special intervention programme that will benefit 1.3 million beneficiaries
- The interventions will target MSMEs located in 17 States, including the Federal Capital Territory (FCT).
- President Bola Tinubu has always spoken of its commitment to diversifying Nigeria's economy for job creation
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The Federal government is set to execute various MSME-focused interventions, targeting 1.3 million beneficiaries across 17 States and Federal Capital Territory (FCT).
This effort is part of a bid to complement the federal government’s efforts to improve the economy and create more jobs.
The MSME and Job Creation Unit of the Vice President’s Office, will coordinate the intervention.
Ray of hope for MSMEs
A statement from the Statehouse Abuja noted that the interventions will include shared centers for MSMEs providing four markets with 300KVA solar panels and mini-grids to provide eight hours of electricity a day to six fashion hubs and two furniture clusters.
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Other interventions are for car painting/drying hubs and cold rooms for seafood storage, among others.
Five of the interventions will be completed and delivered by December 2023.
In addition, there will be 12 other interventions that have been scheduled for completion before December 2024.
States to benefit from the intervention include Abia, Rivers, Jigawa, Benue, Borno, Lagos, Ekiti, Niger, Sokoto, Enugu, Gombe, Akwa Ibom, Yobe, Ondo, Osun, Bayelsa, and Imo as well as the FCT.\
Who are the partners?
The MSME partners collaborating with the Office of the Vice President to execute these interventions include the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Corporate Affairs Commission (CAC), the Industrial Training Fund (ITF), and the National Agency for Food, Drug Administration and Control, (NAFDAC).
Others are the Standards Organisation of Nigeria (SON), Bank of Industry (BOI), Nigerian Export-Import Bank (NEXIM), Development Bank of Nigeria (DBN), Nigerian Export Promotion Council (NEPC), Bank of Agriculture (BOA), Raw Materials Research and Development Council (RMRDC), Nigerian Information Technology Development Agency (NITDA) and Federal Inland Revenue Service (FIRS), among others.
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