Vice President Kashim Shettima, Tuesday, said the  federal  government  has injected over N5 billion as part of measures in expanding Small and medium Trading in Katsina state.

Speaking during his 2-day visit to Katsina , he said both the federal and Katsina state governments jointly launched the N5billion SMSE Growth Funds in June,2024.

He  added that out of the amount, N576 million was successfully disbursed to 237 beneficiaries across the state.

He added that President Bola Ahmed Tinubu gave approval of an unconditional grant of N250,000 for each outstanding MSME exhibiting at the 9th Expanded National MSME Clinic held in Katsina.

The vice president said  over 39,000 MSMEs in Katsina state received approximately N2.5 billion from federal interventions, while 23 rural enterprises accessed over N112 million under the Rural Area Programme on Investment for Development.

“President Tinubu has never backed down from creating a conducive environment for Nigerian MSMEs. This N250,000 grant is non-repayable and demonstrates our commitment to removing barriers that have historically held back our enterprises,” Shettima stated.

He added that the federal government has launched a N75 billion MSME Intervention Fund through the Bank of Industry, providing up to N5 million in loans to 75,000 MSMEs nationwide at 9 percent annual interest, alongside a N50 billion Presidential Conditional Grant Scheme supporting one million nano businesses with N50,000 each across 774 local governments.

Senator Shettima pointed out that Katsina is home to over 1.7 million  MSMEs operating in clusters covering agriculture, trade, crafts, services and digital industries with strong participation of women and youth.

The Vice President commended Governor Dikko Umaru Radda for establishing the Katsina State Enterprise Development Agency, describing the initiative as proof that the governor means business in building small enterprises into national and global brands.