The Federal Government has announced the distribution of N150,000 grants to small business owners in Enugu, aimed at supporting the growth of micro, small, and medium enterprises (MSMEs) in the state.
The Vice President, Kashim Shettima, made this announcement during the launch of the 5th Expanded National MSME Clinic held at the MSME Fashion Hub in the Coal City. Speaking through his spokesperson, Stanley Nkwocha, Shettima emphasized that the grant is a reflection of the Tinubu administration’s commitment to promoting economic growth and development through MSMEs.
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“This N150,000 is an outright grant with no repayment required, demonstrating our dedication to nurturing MSMEs and stimulating economic growth,” the Vice President stated.
Senator Shettima commended the Federal Government’s efforts to support small businesses, stressing the critical role MSMEs play in Nigeria’s economy. He noted that small businesses account for 96% of all enterprises in Nigeria and contribute over 45% to the country’s GDP.
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“No economy can thrive without robust small businesses. The progress of our nation depends on fully harnessing the potential of these enterprises across various regions,” Shettima added.
The grant distribution is part of the Presidential Conditional Grant Scheme (PCGS), which is designed to support nano businesses across the country.
The Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, explained that 70% of the grants are reserved for women and youths, with additional allocations for individuals with disabilities and senior citizens.
