FG Disburses N250,000 Grant Again to Small Businesses Under Tinubu’s MSME Empowerment Plan
The Federal Government has once again released N250,000 to selected small business owners in Ondo State under President Bola Tinubu’s MSME Empowerment Plan. The announcement was made during the 7th edition of the Expanded National MSME Clinics in Akure, where Vice President Kashim Shettima confirmed the payment. The grant, according to him, is not a loan but direct financial support to help entrepreneurs grow their businesses and strengthen local economies.
N250,000 MSME Grant is Free Support, Not a Loan
Vice President Shettima made it clear that the N250,000 disbursed to beneficiaries is a grant and not repayable. He described it as a gesture from the Nigerian people to hardworking entrepreneurs who are driving growth at the grassroots. According to him, the empowerment initiative is designed to reduce the burden of accessing capital and to motivate small business owners to scale their businesses. He said every outstanding MSME that took part in the Ondo clinic will benefit from this round of financial support.
MSMEs Drive Over 90% of Nigeria’s Economy
The Vice President stressed that MSMEs are the backbone of the Nigerian economy, making up more than 90 percent of all businesses. He added that these enterprises contribute more than 45 percent to the GDP and employ over 60 million Nigerians. He described small businesses as the “silent architects of survival” and explained that strengthening them is the surest way to secure economic stability in the country.
Tinubu’s Renewed Hope Agenda Targets Grassroots Business Growth
This initiative is part of President Tinubu’s Renewed Hope Agenda, which is focused on reducing poverty, boosting employment, and expanding economic opportunities at the grassroots level. Vice President Shettima noted that real transformation happens when local businesses have access to resources that enable them to expand. He highlighted that the administration has deliberately placed MSMEs at the center of its economic policy to drive inclusive growth.
Ondo MSME Clinic Connects Entrepreneurs With FG Agencies
The Expanded MSME Clinics were created to bridge the gap between business owners and government institutions. The Ondo edition provided a platform where entrepreneurs interacted directly with agencies, banks, and support organizations to address regulatory issues, funding concerns, and licensing challenges. The event also featured exhibitions where local producers showcased their products, giving them wider exposure to potential investors and buyers.
FG Launches More Support Funds Alongside N250,000 MSME Grant
Vice President Shettima announced additional funding initiatives alongside the N250,000 grant. These include the N75 billion MSME Intervention Fund through the Bank of Industry, the N50 billion Presidential Conditional Grant Scheme offering N50,000 to one million nano businesses, and a N75 billion Manufacturers Fund that provides businesses with up to N1 billion loans at low interest rates. He encouraged entrepreneurs to explore these opportunities through the right agencies and platforms.
Ondo Governor Commends Federal Government’s Support
Governor Lucky Aiyedatiwa of Ondo State praised the Federal Government for selecting Ondo as a host state for the MSME Clinic. He said his administration has also been investing in local sectors such as agriculture, textiles, and light manufacturing, and that the intervention will further boost the economy of the state. He assured that Ondo will continue to support the Federal Government’s mission to create jobs and wealth for its people.
Ekiti Governor and Ooni of Ife Praise FG’s Business Grants
Governor Biodun Oyebanji of Ekiti State said the program is a new model of governance that directly engages small business owners instead of only big industries. Similarly, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, commended the initiative and urged Nigerians to support local producers by choosing made-in-Nigeria products.
SMEDAN and Job Creation Office Highlight MSME Clinic Success
Charles Odii, the Director General of SMEDAN, explained that the MSME Clinics have been effective in resolving many of the challenges faced by entrepreneurs. Temitola Adekunle-Johnson, Special Adviser to the President on Job Creation and MSMEs, also confirmed that the clinics have delivered quick solutions to business owners during each edition, making the events a success story for small-scale enterprises.
Traditional Rulers Back Tinubu’s Economic Reforms
During his courtesy call to the Ondo State Council of Chiefs, Vice President Shettima highlighted the ongoing reforms of the administration, such as the removal of fuel subsidy, tax harmonisation, and road construction projects. The Chairman of the Council, Oba Ajibade Gbadegesin Ogunoye III, expressed full support for these reforms, acknowledging that subsidy removal is freeing up funds for key development programs.
Entrepreneurs in Ondo Engage Directly With FG Leaders
The event concluded with Vice President Shettima visiting the exhibition stands to interact with business owners and view their products. He was accompanied by Governors Aiyedatiwa and Oyebanji, along with top officials and traditional rulers. The gathering reaffirmed the government’s commitment to supporting small businesses with grants, loans, and other initiatives aimed at creating jobs, growing enterprises, and driving long-term prosperity across Nigeria.