FG has released N150bn to over four million MSMEs —Osinbajo

Vice President Yemi Osinbajo has stated that the over four million Micro, Small and Medium Enterprises have benefitted from Federal Government schemes worth over N150bn.

This is as he said the various social intervention schemes of the Buhari regime have made significant impact in the lives of millions of ordinary Nigerians by supporting MSMEs that account for about 50 per cent of Nigeria’s GDP and 76 per cent of the country’s labour force.

Osinbajo said this in his keynote address at the Bank of Industry Aid for Productivity report launch at Transcorp Hilton, Abuja on Monday

Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement he signed late Monday titled ‘More than four million MSMEs have benefitted from N150b FG schemes—Osinbajo’.

According to the Vice President, the regime’s investment in the MSMEs sector is a shining case study of the President’s belief that “Nigerians will solve Nigeria’s problems. This is an example of what we can achieve when we unleash the best of our people-especially our young-on the toughest of our challenges, and give them the free-hand to deliver results.”

“What might also not be obvious is the sheer scale of impact that has been achieved with these programmes, as over four million Micro, Small and Medium Enterprises have been direct beneficiaries of the over N150bn deployed in the past five years.

“57 per cent of these MSMEs are owned by Nigerians below 35 years of age, and close to 60 per cent of the beneficiaries are women. What is even less glaring is that the team of Nigerian professionals behind this work is largely young, with an average age of 28 years old.”