Tinubu approves N250,000 grant for outstanding MSMEs

President Bola Tinubu has approved an unconditional grant of N250,000 for each outstanding Micro, Small, and Medium Enterprise (MSME) participating at the Expanded National MSME Clinic in Katsina State.

Vice President Kashim Shettima announced the grant during the inauguration of the ninth edition of the MSME Clinic designed to support small businesses and stimulate economic activity across local communities in Katsina on Tuesday, October 21, 2025.

Shettima said the federal government established the Expanded MSME Clinic to bring services closer to entrepreneurs and foster innovation, employment, and access to resources through direct engagement with key institutions.

He stated that through the clinic, MSMEs could access regulatory bodies including CAC, NAFDAC, and SMEDAN, as well as banks including the Bank of Industry, to resolve pressing business challenges.

“This grant is non-repayable and part of our efforts to eliminate barriers hindering MSMEs and promote an environment where small businesses can thrive,” the vice president said.

He added that the Tinubu administration had also introduced a N75 billion MSME Intervention Fund, offering up to N5 million in loans to 75,000 enterprises at a 9 per cent annual interest rate.

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Shettima said the N50 billion Presidential Conditional Grant Scheme was supporting one million nano businesses nationwide with grants of N50,000 each, targeting the most vulnerable micro-enterprises across all 774 local government areas.

He stated: “Another intervention, the N75 billion Manufacturers Fund, provides loans of up to N1 billion to manufacturing firms to offset high costs of production, marketing, and logistics.

“So far, more than 39,000 MSMEs in Katsina State have benefited from federal initiatives, receiving a combined total of about N2.5 billion in grants and concessional loans to support business growth.

“Under the RAPID programme, 23 MSMEs in rural parts of Katsina have received more than N112 million to expand operations, create jobs, and stimulate rural economic activities.”

Shettima lauded Governor Dikko Radda for establishing the Katsina State Enterprise Development Agency (KASEDA), a key initiative supporting MSME transformation into regional, national, and global business players.

The Star