More than 17,000 Micro, Small and Medium Enterprises (MSMEs) as well as traders in Ogun State have been boosted as the Federal Government and the State Government announced separate grants to develop small businesses in the State.

Vice President, Kashim Shettima made the announcement during the Second Expanded National Micro, Small and Medium Enterprises Business Clinic.

The MSMEs clinic is a programme organised by the Office of the Vice President in collaboration with the Ogun State Government in Abeokuta, the State capital.

 The Vice President who also commissioned the Ogun Fashion Hub which has about 200 state-of-the-art tailing machines, at the Old OGTV Auditorium and the Modern Adire Shared Facility, Asero which was given a face-lift and equipped with modern facilities. 

Speaking at the event, Shettima said that 200 entrepreneurs at the Modern Adire Shared Facility would each get a grant of N100,000 each, pointing out that they would be exempted from paying rent for a period of one year.

He also added that each exhibitor at the Expanded National MSMEs Business Clinics would get N150,000 grants to further boost their businesses.

Describing Prince Dapo Abiodun as one of the best Governors in Nigeria, the Vice President commended the efforts of Ogun State Government on MSMEs operation just as he reiterated the commitment of President Tinubu-led administration to grow the MSMEs sub-sector and the economy in general. 

"The consolidated efforts  serve as a facilitator which would lead to a robust environment for our MSMEs to grow. Ogun State has been impressive with its roles in improving the lots of MSMEs," he said. 

In his address, Governor Abiodun disclosed that the State government in view of present economic condition would support small businesses with a N2bn conditional grant through which 10,000 MSMEs would be empowered  with a N100,000 grant each while 2,000 Small and Medium Enterprises (SMEs) would each get N500,000 grant to aid their businesses.

Governor Abiodun added that as part of his administration's first phase of intervention, the informal sector would also benefit as 5,000 market women would each get N50,000 to boost their trading activities while students would also benefit from the government cash grant.

Abiodun, who lauded the Federal Government for organising the Business Clinic, said his administration remained focused on creating an enabling environment for MSMEs development through improved access to finance, land rebates, improved infrastructure and security of lives and property.

He revealed that the state in its drive to harness the benefits of African Continental Free Trade Agreement (AfCFTA), the government through its SME Industrial Land Administration Scheme (SILAS) would establish a 1,000 hectare SME Industrial Park.

Noting that the park would be available to small business owners at lower market rates, with benefits such as Certificates of Occupancy and other incentives, including rebates on taxes and land use charge.

In his welcome address, Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela, said the Business Clinics was organised to address challenges inhibiting the growth of MSMEs, adding that the inauguration of the two projects would impact the State economy. 

He  urged entrepreneurs to leverage on the benefit of interacting with regulatory agencies to further improve their businesses, stating that " the success of small and medium-scale enterprises exemplifies the nation's future prosperity. 

"We extend gratitude to the Federal Government for supporting Ogun State MSMEs with world-class equipment and grants to our small businesses," Sofela said. 

In their separate goodwill messages, Minister of Finance and Co-ordinating Minister of the Economy, Mr. Wale Edun, Senior Special Assistant to the President on Job Creation, Mr. Tola Adekunle-Johnson and Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii called on entrepreneurs to tap into various grants and other interventions that have been introduced by the President Bola Tinubu-led Federal government.

Reacting to the announcements, President, Organised Private Sector Network (OPSN) and  Association of Small Business Owners of Nigeria (ASBON), Dr. Femi Egbesola lauded the Federal and Ogun State governments for the grants, describing it as timely help which would ultimately enhance businesses and result in improved revenue generation for the government in the long run.