FG to Empowers 39,000 Katsina MSMEs With ₦2.5bn Grants

The Federal Government has supported over 39,000 Micro, Small and Medium Enterprises (MSMEs) in Katsina State with interventions worth about ₦2.5 billion, according to Vice President Kashim Shettima.

Speaking on Tuesday at the 9th Expanded National MSME Clinic in Katsina, Shettima said 23 rural enterprises also benefited from more than ₦112 million under the Rural Area Programme on Investment for Development.

He further announced President Bola Tinubu’s approval of an unconditional ₦250,000 grant for each outstanding MSME exhibiting at the event.

The Vice President listed other ongoing federal initiatives, including the ₦75 billion MSME Intervention Fund through the Bank of Industry, which offers up to ₦5 million loans at 9% interest to 75,000 small businesses nationwide, and the ₦50 billion Presidential Conditional Grant Scheme, providing ₦50,000 each to one million nano enterprises across all local governments.

Shettima also highlighted the ₦75 billion Manufacturers Fund, designed to help manufacturers manage production and marketing costs, with eligible businesses able to access up to ₦1 billion in loans at 9% interest.

He praised Governor Dikko Radda for setting up the Katsina State Enterprise Development Agency (KASEDA), describing it as a strong model for developing small enterprises into global brands.

Governor Radda, in his remarks, announced a six-month mentorship and business tracking programme for entrepreneurs who participated in the clinic. He said over 100,000 people had already benefited from state-led MSME support across Katsina’s 34 LGAs since 2023, with ₦1 billion disbursed from a ₦5.5 billion MSME Fund.

Radda added that KASEDA would collaborate with agencies such as SMEDAN, BOI, NITDA, NEPC, SON, FIRS, and CAC to provide post-event support, finance access, and certification assistance for participants.