The Federal Government has launched fashion manufacturing hubs in Maiduguri, Borno State, with a target of generating over 48,000 jobs through the facility. In continuation of the disbursement of its ₦75 billion support package for Micro, Small and Medium Enterprises (MSMEs), the government also announced unconditional grants of ₦300,000 for outstanding MSMEs participating in the 6th Expanded National MSME Clinics programme. Naija News reports that Vice President Kashim Shettima stated this on Tuesday when he launched the fashion hub and the Expanded MSMEs Clinic in Maiduguri.
In a statement by his spokesman, Stanley Nkwocha; Shettima restated the commitment of the administration of President Bola Tinubu to fostering innovation, upskilling the workforce, and ensuring equitable wealth distribution across the nation. “ The strength of any nation lies not in its natural resources but in the hands of its skilled and enterprising citizens. You are the surest means of distributing wealth equitably across the land.
You are the crucial link to securing a prosperous future, ” he said. The ₦75 billion MSME Intervention Fund was being administered through the Bank of Industry, offering loans up to ₦1 million at 9% interest to 75,000 businesses nationwide. Announcing the ₦300,000 grant for each business owners, he said, “ I am pleased to announce on behalf of His Excellency, President Bola Ahmed Tinubu, that an unconditional grant of N300,000 will be awarded to each outst.
