SMSEs conditional grant scheme inaugurated by Oyetola in Osun

The Minister of Marine and Blue Economy, Adegboyega Oyetola on Monday inaugurated Federal Government-funded and executed infrastructures in Osogbo, the Osun state capital.

The former Osun State Governor also flagged off the Conditional Grant Scheme (CGS) for micro-enterprises at the Industrial Development Centre (IDC) under the National Business Skills Development Initiative (NBSDI).  

This is even as Oyetola extolled President Bola Ahmed Tinubu's administrative acumen and his creative approach to stimulating the economy and providing welfare for the people, as well as his strategic way of tackling hunger, poverty and misery in a depressed economy.

The Conditional Grant Scheme, according to him, is for the Micro Small and Medium Enterprises, designed to provide entrepreneurship skills, vocational skills and provision of empowerment materials (equipment) to fill the capacity gap of the youths to ensure that they earn income through filling the artisanal gap in Nigeria.

Speaking at the flag-off ceremony held at the premises of the Industrial Development Centre (IDC) of the Federal Ministry of Industry, Osogbo, Oyetola described the gesture as a round peg in a round hole noting that the scheme is a testament to the Federal Government’s fulfilment of its determination to protect businesses in the country, especially the Nano, Micro, Small and Medium Enterprises (NMSMEs), which is a critical sub-sector of the Nigerian economy.

Oyetola who noted that the scheme was in line with the renewed hope agenda of President Tinubu expressed profound gratitude to the Federal Government for graciously choosing Osun as the venue for the flag-off of the people-oriented initiative.

"We are, therefore, in Osogbo today to inaugurate the following: Remodeled textile workshop, Industrial garment equipment/machines, renovated electrical works and dual powered borehole. 

"Today’s interventions are loud testaments to the Federal Government’s fulfilment of its determination to protect businesses in the country, especially the Nano, Micro, Small and Medium Enterprises (NMSMEs), which is a critical sub-sector of the Nigerian economy. 

"It also portrays the Federal Government, under President Tinubu’s watch as a responsible, responsive and thinking government that has empathy for the youth population of our country, he said.

Oyetola implored the state governments to support the efforts of the Federal Government by ensuring that they establish their State Councils on MSMEs in partnership with SMEDAN in the country.

The Minister also urged the beneficiaries of the grant to maximize the opportunities offered to them by the Federal Government through the scheme and use the same judiciously for the purpose it was meant for.

"I urge all the beneficiaries of today’s interventions in Osun State and other beneficiaries across the country to seize the opportunity offered them by the President Tinubu’s administration to join the league of small and medium scale business owners in the country. You must know that every enduring business starts small. 

"Therefore, see what you have today in your hands as a mustard seed. Start where you are and watch your efforts grow with pride", the Minister added.

Earlier, Director-General of Small Medium Enterprise Development Agency of Nigeria (SMEDAN), Charles Odii, disclosed that thousands of the residents of the state have benefited and still benefitting from different schemes of the agency overtimes

He expressed confidence that the grant would go a long way to support the businesses of the beneficiaries in particular and stimulate the economy of the state in general.