FG disburses N250,000 grants to Ondo small businesses at MSME clinic

The federal government has disbursed N250,000 each to selected small business owners in Ondo state as part of its efforts to empower Micro, Small and Medium Enterprises (MSMEs) across the country.

The grants were issued during the seventh edition of the Expanded National MSME Clinics held on Tuesday in Akure, the Ondo state capital.

Vice-President Kashim Shettima, who led the initiative, said the disbursement reflects the Tinubu administration’s commitment to grassroots economic development under the Renewed Hope Agenda.

“This is not a loan. It is a gift from the Nigerian people, through their government, to the champions of local industry,” Shettima said.

He described MSMEs as central to the administration’s economic strategy, noting that they account for over 90 percent of businesses and employ over 60 million Nigerians.

“They are the lifelines of households,” he said, adding that creating an enabling environment for MSMEs remains a top policy priority.

Beyond the cash grants, the federal government is also rolling out targeted interventions. These include a N75 billion MSME Intervention Fund via the Bank of Industry (BoI), a N50 billion Presidential Conditional Grant Scheme for one million nano businesses, and a N75 billion Manufacturers Fund providing low-interest loans.

Shettima encouraged business owners to engage directly with government agencies and support organisations at the clinic to resolve challenges and access new opportunities.

Ondo state governor, Lucky Aiyedatiwa, welcomed the initiative and reaffirmed the state’s alignment with the federal government’s vision.

He said the state was implementing its own programmes to support MSMEs across agriculture, manufacturing and fashion, and praised the Tinubu administration’s “unwavering commitment” to small business growth.

Also speaking at the event, Biodun Oyebanji, governor of Ekiti state, described the MSME Clinics as a first-of-its-kind initiative that directly connects government facilitators with entrepreneurs.

He noted that the programme had left a lasting impact in his state.

Other dignitaries present included the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi; Charles Odii, director-general of SMEDAN; and Temitola Adekunle-Johnson, special adviser to the president on job creation and MSMEs.

They all reaffirmed their support for local businesses and called for stronger promotion of made-in-Nigeria goods.

The event concluded with a tour of the product exhibition, which showcased diverse entrepreneurial talent from Ondo and beyond.