Francis Sardauna in Katsina
No fewer than 39,000 Micro, Small and Medium Enterprises (MSMEs) in Katsina State have received N2.5 billion grants from the Federal Government to resuscitate and enhance their businesses.
Vice-President Kashim Shettima, who disclosed this at the ninth Expanded National MSME Clinics in Katsina, Tuesday, said the 39,000 MSMEs received different interventions from the government.
He said the Federal Government has introduced numerous support programmes, including the N75 billion MSME intervention fund administered by the Bank of Industry (BoI), which provides N5 million loans to 75,000 MSMEs nationwide at an interest rate of nine per cent per annum.
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He added that the Tinubu-led Federal Government has also rolled out a N50 billion Presidential Conditional Grant Scheme to support one million nano-businesses across the 774 local government areas of the country with N50,000 each.
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.”
Earlier, Governor Dikko Umaru Radda announced a six-month post-event mentorship programme for all the entrepreneurs participating in the ninth expanded national MSME Clinics in the state.
He disclosed that the state government has established a N5.5 billion MSME fund, with over N1 billion already disbursed to 701 businesses, making the state a 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 revealed that over 100,000 beneficiaries across the 34 local government areas of the state have received support through KASEDA since 2023.
