South-East has potentials to drive national economic growth — Deputy Speaker, Kalu

The Deputy Speaker of the House of Representatives, Hon Benjamin Kalu, disclosed that the South East region has great potential to drive national and economic development, as it is home to some of the most enterprising individuals and communities in the country, with a rich history of commerce that spans generations.

Hon. Kalu stated this while delivering his goodwill message at the launch of the 5th Expanded National MSME Clinic in Enugu State by Vice President Kashim Shettima on Thursday.

The initiative is one of the federal government’s strategies for easing the process of doing business in Nigeria, with the first, second, third, and fourth editions launched in Benue, Ogun, Ekiti, and Jigawa States, respectively.

The Deputy Speaker stated that locating the 5th Expanded National MSME Clinic in Enugu is further proof that the South East region holds a special place in the administration of Bola Ahmed Tinubu, as it recognizes the region’s potential to drive national economic growth through MSMEs.

He also mentioned that the MSME Hub in Enugu is not just a facility but a vital and strategic platform that taps into the latent economic power of the South East.

Noting that the hub is well-positioned to bridge the gap between ambition and opportunity, empowering the hardworking men and women of the region to transform their dreams into successful enterprises, the Deputy Speaker expressed optimism that it will serve as a center of innovation, providing entrepreneurs with the resources, training, and mentorship they need to scale their businesses.

He commended President Bola Ahmed Tinubu and the Vice President for their commitment to supporting Nano, Micro, Small, and Medium-Scale Enterprises (NMSMEs), noting that the government’s strategic interventions are directly targeted at removing the obstacles small business owners face. He added that their efforts have created an enabling environment for businesses to thrive.

He also commended the Governor of Enugu State, Dr. Peter Mbah, for his efforts in prioritizing small and medium-scale businesses in Enugu, highlighting the collaborative efforts between the Federal Government and the State.

Speaking further, the Deputy Speaker reiterated the commitment of the 10th House of Representatives, under the leadership of the Speaker, Rt. Hon. Tajudeen Abbas, toward supporting economic growth and entrepreneurship using legislative instruments.

He said that the parliament is aware that a conducive legislative framework is critical to the success of initiatives such as the MSME Clinics, which is why they have sponsored the adoption of the famous Igbo Apprenticeship System, the Igba-Boi System, into a National Apprenticeship Scheme, adding that the bill is currently at a crucial stage of consideration in the House of Representatives.

Hon. Kalu stated: “This event not only symbolizes our collective commitment to the growth and sustainability of MSMEs in Nigeria. Under the visionary leadership of President Bola Ahmed Tinubu, we have witnessed bold steps that are breathing new life into Nigeria’s economy.

“Today, we acknowledge the monumental strides taken with the introduction of various funding schemes tailored to support businesses across the nation. The establishment of three funds totaling N200 billion, including the Presidential Conditional Grant Scheme (PCGS), the FGN MSME Intervention Fund, and the FGN Manufacturing Sector Fund, is a testament to President Tinubu’s recognition of the critical role MSMEs play in driving sustainable growth.

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“The Presidential Conditional Grant Scheme (PCGS), which provides financial support to nano business owners through a N50 billion grant, is reaching one million small businesses nationwide. By supporting sectors such as food services, ICT, artisanship, and more, this scheme ensures that even the smallest enterprises are not left behind in the journey toward economic prosperity.

“As we gather here in Enugu for the commissioning of this strategic MSME Hub, we must acknowledge the significance of this location. The South East zone of Nigeria has long been renowned for its entrepreneurship and industrious spirit.

“It is no secret that this region stands as a beacon of commerce, apprenticeship, and innovation, and establishing this hub is a direct recognition of the entrepreneurial dynamism that flourishes here.

“In a zone known for its industrious culture, this hub will harness that energy, creating a thriving ecosystem where businesses can flourish, create jobs, and contribute to Nigeria’s economic prosperity. It also aligns with our Peace in South Project (PISE-P) ethos of a non-kinetic approach to engineering peace and prosperity in the South East.

“Let us leave here today with renewed hope, hope in the potential of our small businesses, hope in the resilience of our people, and hope in the leadership of President Bola Ahmed Tinubu and Vice President Senator Kashim Shettima, whose commitment to the progress of Nigeria remains steadfast. Thank you, and may we continue to strive toward a prosperous future for all Nigerians”