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NIGERIA - The Federal Government says it has disbursed N250,000 unconditional grants to outstanding business owners in Ondo State as part of efforts to empower Micro, Small, and Medium Enterprises (MSMEs) across the country. 

The Vice President Kashim Shettima announced the disbursement during the launch of the 7th Expanded National MSME Clinics in Akure, Ondo State.

According to him, the N250,000 grant is a gift from the government to Nigerians to champion local industry, aiming to support and empower MSMEs.

The Vice President also noted that, MSMEs account for over 90% of businesses in Nigeria, contributing over 45% to the national economy, and employing more than 60 million Nigerians, making them crucial for poverty alleviation and economic growth.

He emphasized that the current administration has introduced other initiatives, including a N75 billion MSME Intervention Fund, N50 billion Presidential Conditional Grant Scheme, and N75 billion Manufacturers Fund to support MSMEs and manufacturers.

BY ADELEKE DAMILOLA | AUGUST 6, 2025