The Federal Government has pledged to revitalise Nigeria’s cocoa and oil palm industries as part of efforts to drive economic growth and reduce poverty.
Vice President Kashim Shettima made this announcement while declaring open the 7th edition of the expanded national clinic for Micro, Small and Medium Enterprises (MSMEs) in Ondo State on Tuesday.
“President Bola Ahmed Tinubu has given a clear directive: we are to plant 100 million oil palm trees across the country. We’re also going to revive the cocoa industry,” Shettima said.
MSMEs: The Backbone of the Economy
Emphasising the significance of small businesses, the Vice President said, “MSMEs account for 90% of jobs in this country. They are key to poverty alleviation and national prosperity. Our economy cannot grow without the growth of small businesses.”
He noted that 65 MSMEs in Ondo State had already benefited from the Federal Government’s ₦75 billion intervention fund and encouraged entrepreneurs to leverage opportunities provided by the national clinic.
State Leaders Rally Behind MSMEs
Ondo State Governor, Lucky Aiyedatiwa, affirmed that MSMEs are central to his administration’s seven-point development agenda. He described them as catalysts for economic transformation.
Governor Abiodun Oyebanji of Ekiti State commended the Federal Government’s MSME Clinic, stating, “No nation can develop without a strong MSME sector.” He urged citizens to patronise locally made goods to enhance productivity and national development.
Royal Endorsement
The Ooni of Ife, Oba Adeyeye Ogunwusi, also addressed the gathering, calling for deeper collaboration between the government and the private sector to boost productivity and position Nigeria for global economic competitiveness.
The MSME Clinic, now in its seventh edition, aims to provide direct support to entrepreneurs and strengthen the foundation for a more inclusive economy.