Tinubu: FG Expands Shared Facilities To Help MSMEs Cut Production Costs

President Bola Tinubu has said the Federal Government is investing in shared production facilities to help micro, small and medium enterprises, MSMEs, access modern equipment and infrastructure without bearing the full cost of setting up individual facilities.

Tinubu said the initiative, being implemented through the National MSME Clinics under his administration’s Renewed Hope agenda, is designed to provide entrepreneurs with access to modern machinery, reliable power and production facilities.

According to the President, 21 shared facilities across 19 states and the Federal Capital Territory are currently supporting businesses and an estimated 650,000 jobs.

He said many Nigerian entrepreneurs have the skills, ideas and ambition to build successful businesses but are often constrained by limited access to the equipment and infrastructure required to operate and expand at scale.

Tinubu said the government’s responsibility was to remove such barriers and create an enabling environment for small businesses to thrive.

“When small businesses can produce more, at lower cost, they become more competitive. They grow. They employ more people. They create income and opportunity for Nigerian families,” the President said.

He added that providing Nigerian businesses with the tools required to expand production was essential to building prosperity and creating opportunities from the grassroots.