June 28, (THEWILL) – Benue State Governor, Rev. Fr Hyacinth Alia, has received an outstanding award for his support in the development and growth of Micro, Small, and Medium-Scale Enterprises (MSMEs), in Benue.
Vice President, Kassim Shettima, has stated that MSMEs are the backbone, not only in Nigeria, and Africa, but also for the global economy.
Deputy Chief of Staff to the President, Sen Ibrahim Hadejia, conducted the ceremony at the World MSMEs Day (Joint Nigeria and African Union event), which was held in Abuja, on Thursday.
It was noted that under Governor Alia’s leadership, Benue State has implemented various initiatives and policies aimed at empowering local businesses, creating jobs, and driving economic progress.
Upon receiving the award, Governor Alia expressed deep honour, stating that it is a testament to the hard work and dedication of the Benue State Government in supporting local entrepreneurs in the state.
“Our administration remains committed to creating an enabling environment for MSMEs to thrive, as they are the backbone of our state’s economy.”
Earlier, Vice President Kashim Shettima reassured that President Bola Tinubu’s administration was dedicated to the prosperity of Micro, Small and Medium Enterprises (MSMEs) in the country.
Represented by the Deputy Chief of Staff to the President, Sen. Ibrahim Hadejia, Vice President Shettima mentioned that the recent launch of a N150 billion MSMEs Intervention fund in partnership with the Bank of Industry, offering single-digit loans to MSMEs across Nigeria, was an example of the administration’s commitment.
According to him, MSMEs account for 90 percent of all businesses worldwide and employ over 60 percent of the global workforce.
“It is no wonder that the United Nations has dedicated June 27th to recognise MSMEs and celebrate them for their immense contributions to the economies of nations worldwide.
“In Nigeria, the stakes are even higher when it comes to MSMEs. MSMEs in Nigeria account for 96 percent of all businesses; they contribute to our economy by over 45 percent and without them, 80 percent of the current Nigerian workforce will be without employment.
“These facts provide us with the evidence that if MSMEs prosper, Nigeria prospers, if MSMEs prosper, Africa prospers, if MSMEs prosper, the entire world prospers.”
Shettima, however, mentioned that unfortunately, MSMEs in Africa face numerous challenges that hinder their growth and consequently impact the growth of the African economy.
“For this reason, we have partnered with the African Union Commission to hear from them, our distinguished guest speakers and panellists, on devising the appropriate continental solution for this evident continental problem.”
He expressed appreciation to the African Union Commission’s leadership for collaborating with the Nigerian Government to gather relevant stakeholders to contribute to the crucial conversation on how to better support MSMEs in Africa.
In his remarks, Mr Tola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation and MSMEs, reaffirmed the government’s determination to establish mechanisms to ensure that MSMEs can easily access single-digit loans.
He expressed gratitude to WEMA Bank for partnering with President Tinubu’s administration to expand opportunities in the MSME space.
“The essence of the partnership is to ensure that small businesses are able to access single-digit loans”, Tola emphasised.
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