FG expands shared MSME Facilities to help Small Businesses

President Bola Ahmed Tinubu has said the Federal Government is investing in shared MSME hubs to help small businesses access modern equipment, reliable power and production facilities.

Tinubu on Tuesday, stated this in a message highlighting the impact of the Federal Government’s National MSME Clinics and shared facilities initiative.

According to the President, 21 shared facilities across 19 states and the Federal Capital Territory are currently supporting businesses and an estimated 650,000 jobs.

He said the initiative was designed to address one of the major challenges facing Nigerian entrepreneurs; limited access to the tools and infrastructure required to expand production.

“A tailor should not need millions of naira to buy industrial machinery before she can grow her business. A food processor should not have to build a factory before producing at scale,” Tinubu said.

The President said the shared facilities would enable entrepreneurs to increase production, reduce operating costs and improve their competitiveness.

He noted that many Nigerians possess the ideas, skills and ambition to build successful businesses but are often constrained by inadequate access to equipment and infrastructure.

“Nigerians do not lack ideas, skill or ambition. Too often, they lack access to the tools and infrastructure needed to turn them into successful businesses,” he said.

Tinubu said the government’s responsibility was to remove such barriers and create an environment in which small businesses could expand and create more employment opportunities.

“When small businesses can produce more, at lower cost, they become more competitive. They grow. They employ more people. They create income and opportunity for Nigerian families.

“Giving Nigerian enterprise the tools to succeed is how we build prosperity from the ground up. That is the Nigeria we are building,” Tinubu said.

The President said expanding access to productive infrastructure for Nigerian enterprises was central to the Federal Government’s efforts to build economic growth across communities.