Enugu State Ranks Among Best States for MSMEs – Says VP Osinbajo


ENUGU – (FIC Enugu Report) – Nigeria’s Vice President, Yemi Osinbajo (Prof) has described Enugu State as one of the best States in the country that has performed exceedingly well in the Federal Government’s Micro, Small and Medium Enterprises (MSME) programme.

Yemi Osinbajo also commended the administration of Ifeanyi Ugwuanyi of Enugu State for its contributions towards the success of the entrepreneurship programme, stressing that the programme has received a great deal of support from the State Government. He gave the commendation in Enugu during the activation and launch of the TraderMoni Initiative of President Muhammadu Buhari’s administration at the Artisan Market in Enugu North Local Government Area.

“The scheme which is a non-collateralized and interest-free loan for petty traders and artisans in the country to encourage them earn a living, create wealth and job opportunities for those in the rural and urban communities, especially the teeming youth under the Government Enterprise and Empowerment Programme (GEEP) of the National Social Investments Programme is domiciled in the Office of the Vice President and implemented by the Bank of Industry (BOI),” he explained.

The Vice President further noted that the joint efforts aimed at making sure that  people, especially traders and small businesses are able to benefit from the programme of the Federal Government and to create a conducive environments that would enable the beneficiaries do their businesses with some degree of comfort.

According to him, if small businesses prosper, the nation will prosper. He affirmed that this was the reason why the President decided that State should undertake the scheme called MarketMoni in collaboration with the Bank of Industry (BOI) and TraderMoni. He continued that the scheme is very important for the State and hopes to be a win-win for everybody who participates in it. He implied that it puts money in the hands of traders so that the traders can invest more in their inventory, the things they sell, making them to become wealthier and able to employ people.

Osinbajo disclosed that 4,577 traders in Enugu State have so far benefited from the MarketMoni, while 23,834 traders have equally benefited from the TraderMoni, saying they intend to do more. The Vice President who thanked the State Governor,  Ifeanyi Ugwuanyi for his very warm hospitality and friendship, adding that it is always a pleasure to pass through Enugu State, just as he has been extremely hospitable to them.

Earlier in his remark, the State Governor, who welcomed the Vice President and his entourage to Enugu State described the exercise as most remarkable because of its direct positive impact on micro – entrepreneurs and artisans in the State.

The Governor stated that the scheme was intended to reduce the level of poverty amongst the Nigerian people and consequently reduce crime and improve the security of lives and property in the State in line with the Nigerian Constitution that the primary purpose of government shall be the security and welfare of the people.

“As a government, we have not rested on our oars in pursuit of this noble agenda. It is heartwarming to share with you that over the past four years, we have painstakingly institutionalized the Enugu State Traders Empowerment Scheme operationalized through monthly raffle draw across the 54 markets in the State. To date, 3600 traders have emerged winners of N50,000 each with visible improvements in their merchandise. We are certainly partners in progress,” he reiterated. 

Ugwuanyi further disclosed that the Enugu SME Centre has been the leading voice and platform for the promotion of the Federal Government GEEP in the State. He expressed his administration’s commitment to making government services available to all residents in the State, saying he is desirous to make a living, create wealth as well as jobs and ensure that people live in a safe and secure environment.