Small businesses are the engine of growth in Nigeria's economy-Osinbajo

Vice President Yomi Osinbajo has said that it is not mere rhetoric that small businesses are the engine of growth in Nigeria’s economy.

Osinbajo who disclosed this at the weekend during an MSME in Abakeleke, the state capital of Ebonyi State said that, the Federal Government recognises this and is committed to creating an environment for these businesses to thrive.

According to him, to additionally aid MSMEs, the Federal Government will invest in Shared Facilities. It is a facility that allows clusters of businesses come together to share expensive machines provided by the government.

“these clusters will be pre-certified by relevant agencies and MSMEs who become members of the shared facilities won’t have to go through the process of registration again.” He added.

He pointed out that, “we have heard some of the challenges that MSMEs experience and I assure you that we will take great pains to ensure that all issues affecting MSMEs including “overzealousness” of govt. officials are addressed comprehensively in order to foster growth & deepen economic inclusion.”

Continuing, he stressed that, “we will also strive to ensure that MSMEs stay informed of how Federal Government agencies can play an enabling role in advancing their businesses. A few of those ways are listed below.”

” I am once again impressed by the entrepreneurial spirit of the Nigerian people. I saw first hand the quality of the amazing products of the MSMEs in Ebonyi State. I have no doubt your businesses will all prosper”, he noted.