Tinubu Building Enterprise-Led Economy as MSMEs Create Jobs, Prosperity – Shettima

Vice President Kashim Shettima has said the administration of President Bola Tinubu is laying the foundation for a sustainable, enterprise-driven economy by creating an enabling environment for Micro, Small and Medium Enterprises (MSMEs) to expand, create jobs and improve livelihoods across Nigeria.

Speaking at the 8th National MSME Awards, tagged the Renewed Hope Edition, in Abuja on Saturday, the Vice President said the Federal Government’s strategy goes beyond providing grants and loans, focusing instead on building an ecosystem that supports innovation, removes bottlenecks and decentralises economic opportunities.

Represented by the Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, Shettima said the administration’s vision is to ensure prosperity reaches every part of the country through targeted infrastructure, business support initiatives and economic reforms.

“Our vision is to build a sustainable, enterprise-led Nigeria where prosperity is shared equitably among all citizens,” the Vice President said.

He described MSMEs as the backbone of Nigeria’s economy, noting that they account for about 90 per cent of businesses in the country and employ more than 60 million Nigerians.

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“Through bold and innovative ideas, and through sweat and courage, our MSMEs are improving the livelihoods of Nigerians and transforming our communities through the prosperity they create,” he said.

According to the Vice President, one of the major pillars of President Tinubu’s Renewed Hope Agenda is creating a business-friendly environment that enables small enterprises to thrive rather than relying solely on government interventions.

Highlighting achievements recorded since 2023, Shettima said the Expanded National MSME Clinics have been taken to all six geopolitical zones in partnership with state governments, allowing entrepreneurs to engage directly with regulators, financial institutions and business support organisations while resolving operational challenges on the spot.

He also disclosed that the government has established 21 state-of-the-art Shared Infrastructure Facilities across the country, providing entrepreneurs with affordable access to high-speed internet, modern equipment and collaborative workspaces.

The facilities, he said, have supported the creation of over 650,000 jobs by serving technology innovators, manufacturers, artisans and creative entrepreneurs.

On access to finance, the Vice President said the Federal Government had expanded funding opportunities through several intervention programmes.

He revealed that the ₦75 billion MSME Intervention Fund and the ₦50 billion Presidential Conditional Grant Scheme have boosted access to capital for small businesses, while the Development Bank of Nigeria has disbursed ₦874 billion to about 751,000 women and youth-led enterprises.

He added that the Nigerian Export-Import Bank had provided over ₦394.88 billion in financing to export-oriented businesses, while more than 165,000 artisans have been trained under the Skill-Up Artisans Programme and equipped with resources to improve their productivity.

Shettima also unveiled a new publication titled “Building Nigeria, Empowering MSMEs: A Compendium of the Federal Government’s Initiatives and Interventions for Nigerian MSME Growth,” describing it as a comprehensive record of the administration’s commitment to supporting entrepreneurship and a guide for investors, policymakers and business owners.

The Vice President said the National MSME Awards have become a major platform for recognising entrepreneurs whose innovations continue to contribute to economic growth.

He explained that this year’s awards marked a policy shift, with winners receiving larger cash prizes instead of physical assets such as vehicles and houses.

“In today’s economic environment, what growing businesses need most is liquid capital to expand operations, create jobs and compete effectively,” he said.

Earlier, the Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, said the 2026 edition was unique for recognising entrepreneurs living with disabilities alongside outstanding businesses across various sectors.

Director-General of the Standards Organisation of Nigeria, Dr Ifeanyi Okeke, represented by Mrs Phebian Arumemi, disclosed that 13,859 entries were received nationwide, with winners emerging after a rigorous selection process covering agriculture, manufacturing, digital innovation, fashion, furniture, leather works, creative industries, cosmetics, tax compliance and disability inclusion.

The event featured the presentation of the new MSME policy compendium and prizes to winners in 13 categories. Olanreforward Foods & Farms Ltd emerged MSME of the Year after also winning the Nigeria Revenue Service Award of Excellence in Tax Compliance, while other winners included Myria Gee Ltd, DX Inception Ltd, Aljamus Technologies, Ennie Wears Ltd, Skarabrand Furniture & Decor Solutions, Lylocee Designs & Fashion World, Vivido Schone International Ltd and Mdu Ecochange Solution Ltd.