Nigeria’s federal government has launched a suite of initiatives to bolster small and medium-sized enterprises (SMEs), with Vice-President Kashim Shettima inaugurating a technology hub and announcing financial support programs during a high-profile event in Cross River State. The newly opened Information and Communication Technology (ICT) Hub in Calabar, part of the eighth “Expanded National MSME Clinic,” aims to empower entrepreneurs through digital infrastructure and streamlined access to regulatory agencies.
Shettima emphasized the administration’s commitment to fostering an environment where SMEs can thrive, calling them “the lifeline of the nation’s economy.” He linked the initiatives to President Bola Tinubu’s “Renewed Hope Agenda,” which prioritizes job creation and innovation. “Technology is no longer a luxury but a lifeline,” Shettima stated during the launch, underscoring the hub’s role in aligning Nigerian businesses with global digital trends.
Alongside the ICT facility, Shettima unveiled two refurbished Bombardier CRJ1000 aircraft for the state-owned Cally Air, describing the move as a step toward positioning Cross River as a regional investment destination. The vice-president also announced direct financial interventions, including immediate grants of ₦250,000 ($167 USD) to select local entrepreneurs, stressing that the funds are non-repayable “gifts to accelerate growth.” Broader federal programs include a ₦75 billion ($50 million) low-interest loan fund for manufacturers, a ₦50 billion ($33 million) nano-business grant scheme, and a ₦75 billion SME intervention fund administered by the Bank of Industry.
Minister of Information Mohammed Idris and Special Adviser Temitola Adekunle-Johnson echoed Shettima’s remarks, highlighting the clinics as platforms where entrepreneurs can resolve regulatory hurdles through direct engagement with agencies like the Corporate Affairs Commission and National Agency for Food and Drug Administration (NAFDAC). Cross River Governor Bassey Otu pledged full alignment with federal reforms, detailing state-level SME capacity-building efforts.
The initiatives reflect Nigeria’s push to diversify its economy amid inflation and currency challenges, with SMEs accounting for over 80% of employment in the country. Analysts note the focus on digital infrastructure and localized support systems could enhance competitiveness, though questions linger about implementation timelines and equitable resource distribution across regions.
