The federal government intends to carry out a number of MSME-focused interventions, with 1.3 million beneficiaries spread throughout 17 states and the Federal Capital Territory (FCT).
This project is part of an effort to supplement the federal government’s efforts to boost the economy and create more jobs. The intervention will be coordinated by the Vice President’s MSME and Job Creation Unit. A ray of hope for MSMEs According to a statement from the Statehouse Abuja, the interventions will comprise shared centers for MSMEs supplying four markets with 300KVA solar panels and mini-grids to give eight hours of electricity each day to six fashion hubs and two furniture clusters.
Other improvements include automobile painting/drying hubs and cool chambers for seafood storage, among others. Vice President Kashim Shettima has ordered that the projects be completed as soon as possible. Five of the interventions will be finished and delivered by December 2023. In addition, 12 further interventions are anticipated to be completed by December 2024. Abia, Rivers, Jigawa, Benue, Borno, Lagos, Ekiti, Niger, Sokoto, Enugu, Gombe, Akwa Ibom, Yobe, Ondo, Osun, Bayelsa, and Imo would profit from the intervention, as will the FCT.
Who are the partners? The MSME partners collaborating with the Vice President’s Office to carry out these interventions include the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Corporate Affairs Commission (CAC), the Industrial Training Fund (ITF), and the National Agency for Food, Drug Administration and Control (NAFDAC). Others include the Standards Organization of Nigeria (SON), the Bank of Industry (BOI), the Nigerian Export-Import Bank (NEXIM), the Development Bank of Nigeria (DBN), the Nigerian Export Promotion Council (NEPC), the Bank of Agriculture (BOA), the Raw Materials Research and Development Council (RMRDC), the Nigerian Information Technology Development Agency (NITDA), and the Federal Inland Revenue Service (FIRS). Meet Seun Sangoleye, a young Nigerian woman who is revolutionizing baby food in Africa. Meanwhile, here’s the story of Seun Sangoleye, the creator and CEO of Baby Grubz, an infant food company founded in 2013. Her journey from computer science degree to entrepreneur nutritionist began in 2012, when she became a first-time mother and her son refused to eat retail baby foods. She chose to launch Baby Grubz in 2013, which has grown into a million-naira business with recognition from respectable organizations such as the African Development Bank Group.