Federal Government Partners Oyo State in Growth of MSME

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Medium, small enterprises are the key components that grow economies. Countries all over the world have come to understand the impact of these sets of businesses, Nigeria isn’t left behind in this. Having this in mind, the Federal Government of Nigeria in conjunction with the Oyo State has unveiled partnership to grow the small businesses in the state

In line with this, the Vice President, Professor Yemi Osibanjo recently unveiled a shared facility in the state. This would cushion the cost of business location and reduce capital Expenditures (CapEx) that small enterprises make in setting up businesses.

It has been noted according to business intelligence that MSME account for 50% of our GDP collectively. This has spurred  the Nigerian government to have a particular interest in sector.

Speaking on the unveiling of facility, the vice president , Yemi Osibanjo stated that “it is my pleasure to launch the MSME shared facility in Oyo State, a collaboration between the Federal and State Government.”

The facility is designed to boost entrepreneurship, create jobs and add to the Internal Revenue Generation of the state. In line with the diversification policy of the Federal Government, the facility is well positioned to build capacity in specialised areas of the economy.

Anthony Emeka Nwosu

 

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