President Bola Ahmed Tinubu has approved a ₦250,000 grant for each outstanding Micro, Small, and Medium Enterprise (MSME) participating in the 9th Expanded National MSME Clinic held in Katsina State. This initiative complements the Federal Government’s ₦2.5 billion intervention already supporting MSMEs across the state.
Vice President Kashim Shettima announced the approval on Tuesday in Katsina. He explained that the grant is non-repayable and intended to reward exceptional MSMEs exhibiting at the event. “President Bola Ahmed Tinubu has approved an unconditional grant of ₦250,000 for each outstanding MSME exhibiting at today’s clinic. This is a non-repayable grant,” he said.
Shettima emphasized that the President’s decision reflects a broader commitment to dismantling barriers that have long hindered the growth of small and medium-sized enterprises in Nigeria. He added that the administration is prioritizing entrepreneurship and industrial development as key drivers of economic transformation.
The Vice President also highlighted the introduction of a ₦75 billion Manufacturers Fund, designed to provide affordable financing for firms in the industrial sector. Under this scheme, eligible manufacturers can access up to ₦1 billion in loans to help reduce the high costs of production and distribution.
In addition, the government’s ₦75 billion MSME Intervention Fund offers loans of up to ₦5 million at an interest rate of 9 percent per annum. These funds aim to empower innovative entrepreneurs and support enterprise-led national growth.
Shettima further noted the success of the ₦50 billion Presidential Conditional Grant Scheme, which is currently providing ₦50,000 each to one million nano businesses across Nigeria’s 774 local government areas. In Katsina State alone, more than 39,000 MSMEs have benefited from various federal initiatives worth ₦2.5 billion.
He also mentioned that the ₦5 billion Katsina State MSME Growth Fund—a collaborative effort between the Federal and State Governments—has so far disbursed ₦576 million to 237 beneficiaries since its launch in June 2024. The fund serves as a matching facility to boost local entrepreneurship and create sustainable livelihoods.
Katsina State Governor Dikko Umaru Radda, in his remarks, reaffirmed his administration’s commitment to empowering local enterprises. He revealed that the state’s ₦5 billion MSME Development Fund has already disbursed ₦500 million to youth and women entrepreneurs in different sectors. The state government, he added, is deepening partnerships with the Bank of Industry, Sterling Bank, SMEDAN, and the United Nations Development Programme (UNDP), which have collectively pledged ₦542 million to assist MSMEs in conflict-affected communities across Katsina State.
