Nigeria’s Vice President, Senator Kashim Shettima, has emphasized that the nation’s economy cannot record significant growth without the active development of Micro, Small, and Medium Enterprises (MSMEs).
Speaking on Tuesday, August 5, 2025, in Akure, the Vice President addressed participants at the 7th edition of the Expanded National Micro, Small and Medium Enterprises Clinic, tagged Ondo 2025, held at the International Culture and Event Centre, The Dome.
Shettima, who attended the event as the Special Guest of Honour, described MSMEs as the bedrock of Nigeria’s economic growth, pointing out that they account for the majority of jobs and play a critical role in poverty reduction and inclusive development.
“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,” he stated.
He revealed that 65 MSMEs from Ondo State have already accessed funding from the Federal Government’s N75 billion intervention fund. According to him, the Sunshine State is vital to Nigeria’s socio-economic advancement, and the intervention fund was designed to provide affordable financing for entrepreneurs.
“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,” the Vice President added.
Highlighting strategic economic revival plans under the Renewed Hope Agenda, Shettima announced a major agricultural initiative. “President Bola Ahmed Tinubu has given a clear directive that we should plant 100 million oil palm trees across the country. We’re also going to revive the cocoa industry,” he said.
He also commended the Ondo State Governor, Dr. Lucky Orimisan Aiyedatiwa, for his infrastructure projects and commitment to supporting small and medium-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,” the Vice President said.
Governor Aiyedatiwa, in his address, described the MSME Clinic as a transformative platform aimed at unlocking Nigeria’s economic potential through targeted support for small businesses. He reaffirmed that MSMEs remain the backbone of the nation’s economy and stressed that his administration’s OUR EASE agenda aligns with the Federal Government’s Renewed Hope Agenda.
The Governor celebrated the achievements of Ondo-based MSMEs that have gained national recognition. These include Denki Wire and Cables Ltd and Kay Classic Fashion, winners of the National MSME Awards for Excellence in Manufacturing and Fashion, respectively.
He further outlined the state’s ongoing support for small businesses, which includes interest-free loans disbursed through the Ondo State Micro-Credit Agency amounting to over N220 million in 2024, access to the Bank of Industry’s N75 billion intervention programme, the “One Youth One Skill” initiative, and the establishment of the Odatiwa Skills Development Enterprise Centres. The OSDEC includes the first mini shared facility in the state’s history.
Governor Aiyedatiwa appealed to the Vice President for federal assistance in establishing a Fashion Hub Shared Facility in Ondo State and an Oil Palm Processing Plant to enhance the productivity of the state’s oil palm farmers.
Also addressing the gathering, Ekiti State Governor, Abiodun Oyebanji, praised the MSME Clinic as a strategic measure to build human capacity and promote small business growth. He encouraged increased patronage of locally made goods, noting that productivity is the foundation of national development.
In his goodwill message, the Ooni of Ife, His Imperial Majesty Oba Adeyeye Ogunwusi, Ojaja II, commended the empowerment of young entrepreneurs and urged stronger patronage of Nigerian-made products, alongside enhanced collaboration between the public and private sectors.
Special Adviser to the President on Job Creation and MSMEs, Mr. Temitola Adekunle-Johnson, provided an overview of the clinic’s nationwide impact, noting that direct access to regulators has improved efficiency and performance for small business operators.
Deputy Governor of Ondo State, Dr. Olayide Adelami, in his welcome address, thanked Vice President Shettima for his presence, affirming that the Aiyedatiwa administration has implemented policies to empower businesses and boost the state’s economy.
The Senior Special Assistant to the Governor on Youth Empowerment and Job Creation, Orioye Gbayisemore, highlighted that the government has supported small business owners whose work contributes significantly to Nigeria’s economic growth.
He added that over ten thousand youths have been empowered through innovative programmes and initiatives, describing Ondo State youths as hardworking, creative, and entrepreneurial.
Earlier in the day, Vice President Shettima visited the Ondo State Council of Obas Secretariat, where he met with traditional rulers and sought their continued support for the policies and reform agenda of the Tinubu administration ahead of the 2027 elections.