We'll protect small, medium enterprises

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Vice President Kashim Shettima has expressed the present administration’s firm resolve to protect businesses across Nigeria, saying that enterprises are not only the very bedrock of a society but also reflect the direction the government is heading and the speed with which it is doing so.

He gave the assurance on Wednesday while commissioning the corporate headquarters of the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Abuja.

The vice president noted that the Bola Tinubu administration is strategically focusing on job creation, capital accessibility, economic growth, and poverty eradication to revamp the economy.

He said: “Allow me to emphasize the importance of this moment: there is no more fitting time than now to reinforce the protection of enterprises in Nigeria. These enterprises not only stand as the very bedrock of our society but also reflect the direction the government is headed and the velocity with which we do so.

“This moment solidifies His Excellency President Bola Ahmed Tinubu’s assurance to protect our enterprises. It resonates deeply within our economic revitalization plan. His focus on job creation, capital accessibility, economic growth, and poverty eradication forms the very skeleton of our strategy to invigorate the economy. Inevitably, this path demands tough decisions, yet ones essential to our success.”

Recalling that he had inaugurated the National MSME Council, Shettima pointed out that
President Tinubu is intent on making sure businesses and other economic enterprises prosper in the country.

He further said: “Notably, our partnership with the Bank of Industry to unveil a N75 billion, 9% interest loan accessible to Nigerian MSMEs as of January 2024 is a pivotal stride. This initiative is geared towards fostering a more conducive and enabling business environment.

“This government doesn’t just boast some of the nation’s finest talents; it champions those invested in ensuring our business owners have front-row seats in our journey towards progress. Our goal is to cultivate an ecosystem where Nigerian businesses become regular features in globally recognized publications such as Forbes, Bloomberg, and the Financial Times for the right reasons.

“We are all well aware that Mr. President’s readiness to take action has never faltered, and what we are witnessing here is just a component of the strategies in place to create a future brimming with endless opportunities.”

The vice president congratulated the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, and the leadership of SMEDAN, saying they have proven that they are ready to transform “concepts into tangible actions.

“This initiative renews hope for a critical segment of our entrepreneurial community, and highlights our sensitivity to the economic clock of the nation,” he added.

Earlier in her remarks, Uzoka-Anite, thanked Shettima for his unwavering support to MSMEs in the country, saying that the completion and commissioning of the new SMEDAN Complex is a clear demonstration of the commitment of the Tinubu administration to the development of the MSME space.

She also outlined other initiatives of the federal government targeted at building capacity and linking MSMEs to markets at home and abroad.

The Director General of SMEDAN, Mr Charles Odii, also thanked the Vice President for his support and guidance in the actualization of the project and leadership in the MSME space, adding that the agency and the entire MSME community in Nigeria have recorded significant achievements within a short period of time under the leadership of the VP.

He assured that the agency will continue to collaborate with sister organizations to ensure sustainable growth in the sector.

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