Over 39,000 Micro, Small and Medium Enterprises (MSMEs) in Katsina State have received grants worth N2.5 billion from the Federal Government to boost and sustain their businesses.
Vice President Kashim Shettima disclosed this on Tuesday during the ninth Expanded National MSME Clinics held in Katsina. He said the 39,000 MSMEs benefited from different government interventions aimed at reviving small businesses and creating jobs across the country.
According to Shettima, the Federal Government has launched several support initiatives, including the N75 billion MSME intervention fund managed by the Bank of Industry (BoI). The fund provides up to N5 million in loans to 75,000 MSMEs across Nigeria at a nine percent annual interest rate.
He further stated that the Tinubu-led administration has rolled out a N50 billion Presidential Conditional Grant Scheme targeted at supporting one million nano-businesses across the 774 local government areas of the country. Each beneficiary is to receive N50,000 under the scheme.
Shettima said: “Likewise, under the N75 billion Manufacturers Fund, President Bola Ahmed Tinubu is providing critical financial support to health businesses in the manufacturing sector, pushing the high costs of production, marketing and distribution. Eligible businesses can access up to N1 billion in loans at a nine per cent interest rate. And I am pleased to note that so far, over 39,000 MSMEs in Katsina State have benefited from these interventions, receiving a total of about N2.5 billion. I am also pleased to announce that His Excellency, President Bola, has approved an unconditional grant of N250,000 for each outstanding MSME exhibiting at today’s clinic. This is a non-repayable grant.”
Governor Dikko Umaru Radda, in his remarks, announced a six-month post-event mentorship programme for all entrepreneurs who participated in the ninth expanded national MSME Clinics.
He revealed that the Katsina State Government had created a N5.5 billion MSME fund, with over N1 billion already disbursed to 701 businesses, positioning the state as a leading model for enterprise development in northern Nigeria.
Radda said: “This clinic will stand out from all others. I have directed KASEDA to work with SMEDAN, BoI, NITDA, NEPC, SON, FIRS and CAC to provide post-event support to every registered participant. The clinic does not end today.”
He added that over 100,000 beneficiaries across the 34 local government areas of the state have received support through KASEDA since 2023.