- VP Shettima affirms President Tinubu’s commitment to addressing challenges in Nigeria’s MSMEs, highlighting N75 billion BOI loan and N50 billion fund from Access Bank
- The MSME Clinic launch in Benue marks a nationwide initiative to empower entrepreneurs, emphasizing essential resources and government support
Vice President Kashim Shettima has asserted that President Tinubu is committed in addressing the impediments affecting Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
Speaking at the Expanded National MSME Clinic launch in Makurdi, Benue State, Shettima emphasized the government’s unwavering commitment to eliminating identified bottlenecks in the MSME sector.
During his address, the VP highlighted the existence of an N75 billion loan scheme from the Bank of Industry (BOI) and a discounted N50 billion fund from Access Bank, which provides crucial financial support to entrepreneurs.
“Access Bank has further allocated N50 billion from their fund to MSMEs at a discounted rate of 15 percent, with the potential for significant increases based on loan performance,” he stated.
According to a statement from his Senior Special Assistant on Media and Communications, Stanley Nkwocha, the MSME Clinic, a groundbreaking initiative under the administration of President Bola Ahmed Tinubu, aims to empower MSMEs by breaking down barriers and offering essential resources.
The inaugural MSME Clinic in Benue sets the stage for a nationwide rollout, with planned visits to Ebonyi, Ogun, Delta, Kaduna, Borno, Katsina States, and the Federal Capital Territory (FCT) in the first half of 2024. This strategic itinerary underscores the government’s meticulous planning to extend support and resources to MSMEs nationwide.
FG orders installation of CCTV on nine highways
The Minister of Works, David Umahi, has ordered the installation of closed-circuit television cameras, solar lighting, and security measures along nine highways assigned to private investors through the Highway Development and Management Initiative.
Additionally, he has set up three committees to ensure swift execution of the initiative, as outlined in a statement by his Special Adviser on Media, Orji Uchenna, released on Tuesday.
This program, operating as a public private partnership for highway construction, operation, and maintenance, is structured so concessionaires can recover their investments through negotiated toll and non-toll revenues.
Despite the approval granted eight months ago, the contractors have yet to commence work, prompting the minister’s frustration during a recent meeting with directors.