Vice President Sen. Kashim Shettima has emphasized the crucial role of Micro, Small, and Medium Enterprises (MSMEs) in driving the nation’s Gross Domestic Product (GDP). He stated that without MSMEs, the country’s economic growth would be severely hampered.
This statement was made during the inauguration of the Benue Fashion Hub and Printing House in Makurdi on Tuesday, which is anticipated to generate an annual revenue of N3 billion.
Sen. Shettima underscored the importance of MSMEs, noting that they account for 96% of businesses in Nigeria and contribute 45% to the economy. Represented by the Deputy Chief of Staff in the Office of the Vice President, Sen. Ibrahim Hassan Hadejia, he highlighted that without MSMEs, 80% of Nigerians would be unemployed.
He further stated that the Benue fashion industry is expected to create over 48,000 jobs annually. The Federal Government has already established five MSMEs across the country, with plans to open 31 more in all states, including the Federal Capital Territory.
“The commissioning of this facility, equipped with state-of-the-art machinery, marks the Federal Government’s commitment to creating a supportive environment for MSMEs to thrive. This initiative will not only enhance Benue’s reputation as the Food Basket of the Nation but also establish the state as a hub for textiles and cultural heritage. The facility, which boasts over 200 machines and more than 100 ICT devices, is capable of producing military and school uniforms for Benue and beyond. It is the largest project of its kind commissioned by the Federal Government,” he said.
In his remarks, Benue State Governor Rev. Fr. Hyacinth Alia described the Fashion Hub as a symbol of the state’s collective vision for a prosperous and creative Benue. He acknowledged that the hub, a gift from the Presidency, aligns with his administration’s goals to promote creativity, foster innovation, generate employment, and provide opportunities for the people of Benue.
Governor Alia stated, “This project is designed to tap into the immense talents of our youth, transforming them into thriving enterprises that will play a significant role in strengthening our economy.”
Earlier, the Senior Special Assistant to the President on Job Creation and MSMEs, Mr. Tola Adekunle, reaffirmed the Federal Government’s commitment to supporting state governments through MSMEs. He also praised Governor Alia for his achievements and encouraged him to continue his efforts for the benefit of the Benue people.
