FG disburses N2.5bn to 39,000 MSMEs in Katsina – Shettima
Vice President Kashim Shettima has announced that more than 39,000 Micro, Small and Medium Enterprises (MSMEs) in Katsina State have benefited from federal government interventions totalling about N2.5 billion.
He said 23 rural enterprises also accessed over N112 million under the Rural Area Programme on Investment for Development (RAPID).
Speaking at the 9th Expanded National MSME Clinic held in Katsina on Tuesday, Shettima disclosed that President Bola Tinubu had approved an unconditional grant of N250,000 for each outstanding MSME exhibiting at the event.
The vice president explained that the federal government recently launched a N75 billion MSME Intervention Fund through the Bank of Industry (BOI), offering up to N5 million in loans to 75,000 MSMEs nationwide at a single-digit interest rate of 9 percent.
He added that the government also rolled out a N50 billion Presidential Conditional Grant Scheme designed to support one million nano businesses across the 774 local government areas, with each beneficiary receiving N50,000.
“Likewise, under the N75 billion Manufacturers Fund, President Bola Ahmed Tinubu is providing critical financial support to health businesses in the manufacturing sector to offset high production, marketing, and distribution costs,” Shettima said.
“Eligible businesses can access up to N1 billion in loans at a nine percent interest rate. And I am pleased to note that so far, over 39,000 MSMEs in Katsina State have benefited from these interventions, receiving a total of about N2.5 billion,” he added.
Shettima commended Governor Dikko Umaru Radda for establishing the Katsina State Enterprise Development Agency (KASEDA), describing the initiative as proof of the governor’s commitment to transforming small enterprises into national and global brands.
Earlier, Governor Radda announced a six-month post-event mentorship programme for entrepreneurs participating in the clinic, noting that since 2023, more than 100,000 beneficiaries across the state’s 34 local governments have received support through KASEDA.
He also revealed that the state had created a N5.5 billion MSME Fund, with over N1 billion already disbursed to 701 businesses, positioning Katsina as a model for enterprise development in northern Nigeria.
“This clinic will stand out from all others. I have directed KASEDA to work with SMEDAN, BOI, NITDA, NEPC, SON, FIRS, and CAC to provide post-event support to every registered participant. The clinic does not end today,” Radda stated.
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He explained that each entrepreneur would be enrolled in a six-month business tracking programme, receive continued support in accessing finance and certification, have their data integrated into the KASEDA MSME Portal, and take part in targeted capacity-building sessions.
Governor Radda also thanked the vice president for extending his stay in Katsina to personally attend the maiden Katsina MSME Awards and the Dikko Social Innovation Academy graduation ceremony.
