The Federal Government of Nigeria has commenced the process of establishing 37 small business clusters in the country.
According to a statement by Yemi Osinbajo, Nigeria’s Vice President, the small business clusters will be established in each of the country’s states including the federal capital territory.
Osinbajo’s spokesman, Laolu Akande, in a statement in Abuja, said the vice president revealed the government’s intention in Birnin Kebbi at the inauguration of the National Micro, Small and Medium Enterprises (MSME) Clinic, the 24th in the series.
According to Osinbajo the gesture was in the consolidation of the efforts of President Muhammadu Buhari’s administration in growing the MSMEs sector in Nigeria.
“One of the Next Level projects which we intend to do for MSMEs is what we call Shared Facilities for MSMEs,” said Osinbajo.
“We plan to have 37 clusters across the nation, this will provide opportunity for MSMEs to walk into fully equipped clusters with specific facilities for end-to-end production of their products.”
Osinbajo further noted that the federal government had identified a minimum of one cluster per state for the project state.
In Kebbi State, Osinbajo revealed that the government have identified the commercial fishing cluster which is to be commissioned in next year and will benefit over 9000 MSMEs daily.”
The vice president acknowledged the resourcefulness of the Nigerian youth and add that their talents and creativity were all that countries required to achieve greatness.
Osinbanjo said that one of the things that emerged from just going around Kebbi State and all over the country was, the evidence that there was creativity, talent and so much enterprise and people were prepared to work hard.
“Young and old, people are making their contributions to the development of the economy and that is what makes countries great,” said Osinbanjo.
“It is the individual work of small businesses, young entrepreneurs that make counties great all over the world,” he said.
According to a survey by PwC Nigeria, the MSME’s play an important role in the country’s economy.
The same report indicates that SMEs contribute 48% of national GDP, account for 96% of businesses and 84% of employment.
The current commitment by the government to boost the sector will thus have a ripple effect on the economy, create more jobs and improve the country’s GDP.