The Federal Government has declared that Nigeria’s economic advancement is tied to the growth of Micro, Small, and Medium Enterprises (MSMEs), with the Sunshine State (Ondo) identified as a critical player in the national development drive.
Speaking on behalf of the executive arm at the 7th edition of the Expanded National MSME Clinic in Akure on Tuesday, Vice President Kashim Shettima said small businesses form the backbone of the economy and must be supported for the country to achieve broad-based prosperity.
“MSMEs account for 90 percent of jobs in this country. They are key to poverty alleviation and national prosperity. The growth of our economy must go hand in hand with the growth of small businesses,” the Vice President told participants at the event, which was held at The Dome, International Culture and Event Centre.
He announced that 65 MSMEs from Ondo State have already benefited from the Federal Government’s N75 billion intervention fund and urged all partner agencies to deepen their engagement with business owners to ensure sustainable outcomes.
“This fund is designed to provide affordable financing for entrepreneurs. We must ensure that this support is not a one-way gesture. I call on all partner agencies to continue working hand-in-hand with MSMEs to deliver lasting impact,” he added.
Highlighting plans under the Renewed Hope Agenda of President Bola Ahmed Tinubu, Shettima unveiled a nationwide agricultural initiative that includes the planting of 100 million oil palm trees and the revival of cocoa production across the country.
He also commended the Governor of Ondo State, Lucky Aiyedatiwa, for creating a business-friendly environment through infrastructure development and targeted support for small-scale enterprises.
“Let me commend the Governor of Ondo State for his visible commitment to development. What I’ve seen here today is very impressive,” Shettima said.
In his address, Governor Aiyedatiwa described the MSME Clinic as a bold step towards unlocking Nigeria’s economic strength. He reaffirmed his administration’s alignment with the Federal Government’s economic strategy through the state’s OUR EASE agenda.
The Governor celebrated local entrepreneurs who have gained national recognition, including Denki Wire and Cables Ltd and Kay Classic Fashion — both winners of the National MSME Awards for manufacturing and fashion, respectively.
He highlighted various forms of support being delivered by the state, including over N220 million in interest-free loans issued through the Ondo State Micro-Credit Agency in 2024, access to the Bank of Industry’s intervention programme, and the launch of the “One Youth One Skill” initiative.
Aiyedatiwa also spoke about the establishment of the Odatiwa Skills Development Enterprise Centres (OSDEC), which now hosts the state’s first mini shared facility for MSMEs.
Appealing for federal backing, the Governor requested the siting of a Fashion Hub Shared Facility and an Oil Palm Processing Plant in Ondo State to scale up production from the state’s oil palm sector.
Ekiti State Governor, Biodun Oyebanji, who also attended the event, praised the MSME Clinic model as a deliberate move to build human capacity and enhance local business operations. He called for increased patronage of locally produced goods, describing it as essential to national development.
The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, delivered a goodwill message in which he applauded the empowerment of young entrepreneurs and called for stronger collaboration between the private and public sectors to support local industries.
Special Adviser to the President on Job Creation and MSMEs, Mr. Temitola Adekunle-Johnson, gave a rundown of the clinic’s achievements across the country, noting that direct access to regulators has significantly improved the performance of small businesses.
Earlier in the day, the Vice President visited the Ondo State Council of Obas Secretariat, where he met with traditional rulers and solicited continued royal support for the Tinubu administration’s reform agenda.
In his welcome address, Ondo State Deputy Governor, Dr. Olayide Adelami, expressed appreciation to the Vice President for honouring the event, noting that the current administration is actively implementing policies to energise local businesses and reposition the state’s economy.
Also speaking, the Governor’s Senior Special Assistant on Youth Empowerment and Job Creation, Orioye Gbayisemore, said more than 10,000 young people have been empowered through state-led programmes, describing Ondo youth as resourceful, creative, and entrepreneurial.
