Nigeria’s Vice President, Senator Kashim Shettima, has said that Nigeria’s economy cannot grow significantly without the development of Micro, Small, and Medium Enterprises (MSMEs).
He made this statement on while addressing participants at the 7th edition of the Expanded National Micro,Small and Medium Enterprises (MSME) Clinic, tagged Ondo 2025, held at the International Culture and Event Centre, The Dome.
Mr Shettima, who was the Special Guest of Honour at the event, described MSMEs as the foundation of the nation’s economy, stating that they account for a majority of jobs and must be supported for Nigeria to achieve inclusive growth.
He said MSMEs account for 90 percent of jobs in this country, stressing that they are key to poverty alleviation and national prosperity.
The Vice President disclosed that 65 MSMEs from Ondo State have already accessed funding from the Federal Government’s N75 billion intervention fund.
He added that the Sunshine State is critical to the socio-economic development of the country.
According to him, his fund is designed to provide affordable financing for entrepreneurs.
In his address, Governor Aiyedatiwa, described the clinic as a revolutionary step towards unlocking the full potential of Nigeria’s economy through MSME development.
He said MSMEs remain the backbone of Nigeria’s economy and highlighted his administration’s commitment through the state’s OUR EASE agenda, which aligns with the Federal Government’s Renewed Hope Agenda.
Governor Aiyedatiwa also celebrated the achievements of several Ondo-based MSMEs who have won national recognition, including Denki Wire and Cables Ltd and Kay Classic Fashion winners of the National MSME Awards for Excellence in Manufacturing and Fashion, respectively.
He appealed to the Vice President for federal support in establishing a Fashion Hub Shared Facility in Ondo State, and an Oil Palm Processing Plant to boost productivity for the state’s vast oil palm farms.
Also speaking at the event, Governor Abiodun Oyebanji of Ekiti State commended the initiative behind the MSME Clinic, describing it as a strategic effort to develop human capacity and support the growth of small businesses.
Mr. Oyebanji emphasized the importance of patronizing locally made goods, stating that national development is best driven by productivity.
The Ooni of Ife, His Imperial Majesty Oba Adeyeye Ogunwusi, Ojaja II, in his goodwill message, praised the empowerment of young entrepreneurs and called for stronger patronage of Nigerian made products and public-private collaboration.
