FG Committed To Supporting Kano As Economic Power House – VP Shettima
By Abdullahi Yusuf
Vice President Kashim Shettima says the Federal Government remains committed to supporting Kano’s role as a major economic powerhouse in the country.
Shettima stated this on Tuesday while declaring open the 46th Kano International Trade Fair with the theme:”Empowering SMEs For Sustainable Development,”organized by the Kano Chamber of Commerce, Industry,Mines and Agriculture(KACCIMA).
Represented by his special Assistant on Technical Matters, Dr. Ibrahim Nagwandu, the Vice President recalled that as at the end of 2024, SMEs contributed significantly to the Nigerian economy by being a major source of employment and accounting for approximately 84% of the country’s workforce and 48% of the nation’s Gross Domestic Product (GDP).
“They are crucial for economic diversification, poverty reduction and job creation, and also play a significant role in supplying goods and services to larger corporation.
“SMEs help move the economy away from its reliance on oil export by driving growth in other sectors and creating job opportunities for our teeming youth. No nation achieves sustainable development without empowering its SMEs.
“This administration has therefore placed SMEs at the center of its Renewed Hope Agenda, prioritizing access to finance, energy reforms, digital infrastructure, value addition and export promotion,” he said.
He said in recognition of the significant role SME’s play in Nigeria’s economic growth and development, the Administration of President Bola Ahmed Tinubu had proactively provided various policy initiatives to support and promote the growth of SME’s in Nigeria.
These policies,he said,included Micro, Small and Medium Enterprises Development Fund (MSMEDF), Agribusiness/ Small and Medium Enterprises Investment Scheme (AGSMEIS), and the Export Expansion Grant (EEG).
Other initiatives according to the Vice President, included the National Micro, Small and Medium Enterprises (MSME) Policy, which aims to build a vibrant SME sector, and financing programs from development banks such as the Bank of Industry (BOI) and the Development Bank of Nigeria (DBN).
“These policies focus on affordable financing, capacity building, trade facilitation and export promotion, digital transformation and innovation, agricultural value chain and food security, as well as creating a more favorable business environment.
“To the SMEs, this is the moment to innovate, scale-up and explore export opportunities. I urge all our esteemed MSME participants in Kano and across Nigeria, to leverage on these important government interventions to grow and expand their local businesses for shared prosperity,” he added.
In his address, Governor Abba Kabir Yusuf, represented by the State Commissioner for Commerce Mines, Agriculture and Industry, Alhaji Shehu Wada Sagagi, said the State Government had been providing enabling environment for doing business, particularly for the SMEs.
Yusuf emphasized the pivotal role of SMEs in Nigeria’s economic transformation, aligning with the Federal Government’s Renewed Hope Agenda.
He highlighted Kano’s historic role as a commercial hub, stating that the city had long served as “an inter-regional trade destination for most of the Sahel and parts of sub-Saharan Africa.”
He commended the Kano Chamber of Commerce for organizing the fair, which he described as a platform that “brings together business leaders, investors, policy makers, international investors and other critical stakeholders.”
The Governor then reiterated his administration’s support for SMEs through initiatives like the MSME Development Fund, AGSMEIS, and the Export Expansion Grant.
He urged entrepreneurs to “innovate, scale-up and explore export opportunities,” adding, “no nation achieves sustainable development without empowering its SMEs.”