Nigeria’s Federal Government has announced an unconditional grant of ₦250,000 for each outstanding small business showcasing at the Expanded National MSME Clinic in Katsina.
Vice-President Kashim Shettima revealed the decision on Tuesday, stating that President Bola Tinubu approved the financial support to strengthen small businesses and accelerate local economic growth.
“This grant is not a loan; it is a direct intervention to remove the hurdles preventing our small businesses from succeeding,” Shettima said as he opened the ninth edition of the clinic.
The MSME Clinic initiative brings together business owners and key agencies, including the Corporate Affairs Commission, NAFDAC, SMEDAN and the Bank of Industry, to provide on-the-spot solutions to registration, financing and regulatory challenges.
Shettima reaffirmed the administration’s commitment to economic recovery, noting that MSMEs are central to job creation and innovation. “We came to office to ease the economic burden on citizens, and supporting businesses is at the heart of our mission,” he stated.
The Vice-President also outlined a series of ongoing federal interventions:
A ₦75 billion MSME Fund, offering loans of up to ₦5 million at 9 per cent interest.
The ₦50 billion Presidential Grant Scheme, giving ₦50,000 each to one million nano enterprises across 774 local councils.
A ₦75 billion Manufacturers Fund, providing up to ₦1 billion in loans for industrial firms facing rising production costs.
In Katsina alone, over 39,000 small businesses have received approximately ₦2.5 billion in grants and low-interest loans. Through the RAPID programme, 23 rural enterprises were given more than ₦112 million to scale up operations and generate employment.
Shettima also unveiled the ₦5 billion Katsina MSME Growth Fund, jointly financed by federal and state governments, with ₦576 million already distributed to 237 enterprises.
He commended Governor Dikko Radda for establishing the Katsina State Enterprise Development Agency (KASEDA), which he said is helping local entrepreneurs compete regionally and globally.
“No economy can prosper without a vibrant MSME sector. Katsina’s 1.7 million enterprises are positioning it as an emerging centre for agriculture, trade, services and digital businesses,” Shettima said. He also emphasised the importance of inclusivity, highlighting the role of women and youth in enterprise development.
