Being a speech by His Excellency, Senator Kashim Shettima, GCON, Vice President of the Federal Republic of Nigeria, at the Expanded National MSME Clinics and Fashion Hub Launch in Maiduguri, Borno State, on January 28, 2025.
Protocols…
The strength of any nation lies not in its natural resources but in the hands of its skilled and enterprising citizens. You are the surest means of distributing wealth equitably across the land. You are the crucial link to securing a prosperous future. Today’s intervention represents yet another fulfilment of the promise made by His Excellency, President Bola Ahmed Tinubu, to provide access to capital and expand opportunities for all Nigerians. It is also a continuation of the government’s determination to upskill and empower our workforce, enabling them to drive innovation and enterprise across all sectors of the economy.
2. Every business empowered is a step closer to eradicating poverty, and we do not take for granted the critical role you play as the buffer of our economy, particularly at the informal level. It is well-established that you account for over 96% of our businesses, contribute more than 45% to our economy, and remain the largest employers of labour in the nation. This is no small feat, and it’s why you must be at the centre of every innovative policy or programme designed to fix our economy.
1. Without skills, innovation stalls. Without accessible capital, dreams wither. This is why we are committed to standing with you, we are supporting you, and we are ensuring that your most ambitious ideas are transformed into flourishing enterprises instead of being forgotten in the cupboards of dreams not realised.
2. This stop in Borno State is one of several ongoing special interventions to establish Expanded National MSME Clinics across the federation. Our hope is that this initiative will ignite the entrepreneurial drive and ambition of our target communities and, in turn, reflect positively on the overall performance of our economy. The launch of this MSME Clinic and the Fashion Hub today provides a unique platform for business owners, aspiring entrepreneurs, and innovators in Borno State to interact directly with regulatory agencies, financial institutions, and business support organisations. It is an avenue to receive practical, on-the-spot solutions to the challenges you face in running your businesses.
3. This initiative also marks the beginning of an enduring partnership to support your businesses. I am pleased to announce on behalf of His Excellency, President Bola Ahmed Tinubu, that an unconditional grant of N250,000 will be awarded to each outstanding MSME exhibiting at today’s clinic. This is a direct grant—you will not be required to repay it. This emphasises the depth of our commitment to your success.
4. The Borno State Fashion Hub, which we are commissioning today, stands as a monumental step towards advancing the MSME ecosystem, particularly for those in the fashion industry. This hub is among the largest ever established by the Federal Government, furnished with state-of-the-art equipment to support the fashion manufacturing cluster in Borno State. It has the capacity to boost production, achieve economies of scale, and align with global standards. With the potential to create up to 48,000 jobs annually, it is not just a hub—it is a beacon of hope and opportunity.
5. We anticipate that this facility will be managed by a competent private sector entity, with federal and state governments providing vigilant oversight. Our vision is for this hub to become a reference point for excellence, enterprise, and training—not only for Borno State but for the entire nation.
6. Other interventions by this administration to support MSMEs include the N75 billion MSME Intervention Fund, which is administered by the Bank of Industry. This fund is designed to support 75,000 MSMEs across Nigeria with loans of up to N1 million at an interest rate of 9% per annum. Additionally, the FGN-ALAT Digital Skillnovation Program—a partnership between the Federal Government and Wema Bank—has trained over two million Nigerian youths and one million MSMEs in digital skills and resources critical for thriving in today’s technology-driven economy. I am delighted to announce that the second cohort of this programme, trained here in Borno State, has successfully completed their training.
7. I am equally pleased to announce that Wema Bank has demonstrated its commitment to supporting job creation by establishing a partnership branch here in Borno State. We welcome all private sector partnerships in this calculated effort to revitalise our economy at the grassroots level.
8. Finally, I wish to extend my heartfelt gratitude to the Government of Borno State, under the stewardship of His Excellency, Governor Babagana Umara Zulum, for partnering with the Federal Government to bring this Expanded MSME Clinic and the Fashion Hub to the people of this great state. Without this partnership, we would not be here today celebrating this milestone in support of our MSMEs.
9. Thank you, and may God bless us all.
