• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
Sign in
Welcome!Log into your account
Forgot your password?
Password recovery
Recover your password
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Yusuf Alli @60: Unveiling an Investigative Journalist Par Excellence

      NDLEA officials

      NDLEA Intercepts 2.7m Tramadol Tabs, Arrests 4 Notorious Traffickers in Adamawa

      Ahmed+Idris+AGF FAAC

      N109bn Fraud: How Suspended AGF Idris, Compromised TSA, GIFMIS, IPPIS, for…

      How ICPC Discovered N540m in GTB Account of Primary Teacher

      FAAC

      N109bn Fraud: Ex-AGF Idris Remains in Prison as Court Adjourns Ruling…

  • Fact-Check
  • Economy
    • NITDA Directed to Develop National Artificial Intelligence Policy

      NIS Rolls Out E-Passport Facility, Warns Against Cash Payments

      Hammed Ibrahim Ali Customs Boss

      Customs Debunk Rumours on Auctioning 7000 Cars, Say E-Auction Portal Still…

      Minister of Communication and Digital Economy, Isa Ali Pantami

      Cybersecurity: Pantami Emerges first African Fellow of Chartered Institute of Information…

      Amb Isiaka Imam Presents Stewardship to D-8 Commission Dhaka Bangladesh

  • National
    • NYSC DG Commissions 5,000 Seater Auditorium at Rivers Orientation Camp

      Yusuf Alli @60: Unveiling an Investigative Journalist Par Excellence

      Senator Joshua Dariye weeps in court

      Presidential Pardon: Finally, Dariye, Nyame Released from Kuje Prison

      NAHCON Concludes Hajj Operation, Plans 2023 Pilgrimage

      DG Visits Corpers at Newly-Built Bayelsa Orientation Camp

    • Government
      • Documentary: NBC Imposes N5m Fine on Trust TV

        Two Federal Training Centres Get Accreditation for ND Programmes

        Nigeria

        Water Bill ‘ll Establish Regulatory Framework for Nigeria’s Water Sector –…

        Buhari Appoints Degereji as Provost FCE Yola

        FG Tasks BPSR on Assessment of MDAs

  • Security
    • CG Ahmed Abubkar Audi of NSCDC

      NSCDC to Heighten Security Measures, and Civilian Protection in Conflict

      Passing Out Parade (POP) of 81 Regular Recruits Intake at the Depot Nigerian Army in Zaria, Kaduna

      Army trains 106 Cadet officers to curb insecurity The…

      Nigeria Police Force Logo

      Nigeria Police Launch POSSAP to Automate Specialized Services

      Military Troops

      How Military Raided ISWAP Camps, Killed Top Commander, 50 Other Fighters…

      JUST IN: Danmadami Replaces Onyeuko as New DMO Director

  • Features
    • HAJJ Pilgrims pilgrimage NAHCON

      2022 Hajj: Lessons to be Learnt 

      NAF Jet

      On the Recent Elimination of Katsina Bandit Warlords

      Russian-Ukraine Conflict and Implication for Nigeria: A PR Perspective

      Late Chief of Army Staff Lt General Ibrahim Attahiru

      Ibrahim Attahiru: Remembering a Patriot and Man of Hope

      Security Agencies and Imminent Victory Against Non-State Actors

  • State
    • Ilorin Emirate Descendants Progressive Union

      IEDPU will work for peaceful elections

      Sokoto Governor Tambuwal

      Gov Tambuwal Distributes Teaching Materials to Education Secretaries

      How FG ‘ll Tackle Perennial Flooding, Climate Crisis – Sadiya Farouk

      After PRNigeria’s Investigation, Foundation Donates Kidney Transplant Equipments to Kano Hospital

      Gov Badaru Inaugurates Jigawa Investment Agency

  • Event
    • Bwari attack: Guards Brigade buries Late Capt. Attah, 4 others

      Gen Irabor Receives 'Pearl of Defence' Award from of the Centre for Crisis Communication. Comdr Kabir Ali (Rtd) of CCC presents the award

      PHOTOS: General Irabor Meets Media Executives, Assures of Peaceful 2023 General…

      Yusuf Alli @60: Unveiling an Investigative Journalist Par Excellence

      Kanempress trains 33 Northeast Media Stakeholders on Historical Sites Reportage

      Emir of Ilorin Zulu Gambari

      Ilorin Emir Lauds Committee for successful hosting 2022 Durbar

Home Government VP Osinbajo Commissions Fashion Hub in Lagos to serve 136,000 MSMEs Annually
  • Government

VP Osinbajo Commissions Fashion Hub in Lagos to serve 136,000 MSMEs Annually

By
Laolu Akande
-
September 19, 2020
Yemi Osinbajo
Yemi Osinbajo
VP Osinbajo Commissions Fashion Hub in Lagos to serve 136,000 MSMEs Annually
The Federal Government remains deeply committed to creating a more business friendly environment for Micro, Small and Medium Enterprises (MSMEs) to thrive, as they are the engine room of the Nigerian economy, according to Vice President Yemi Osinbajo, SAN.
Prof. Osinbajo stated this on Friday at the virtual commissioning of the Fashion Cluster Shared Facility for MSMEs, the Eko Fashion Hub 1, in Lagos State.
He explained that the Economic Sustainability Plan has in it a Survival Fund, adding that President Muhammadu Buhari’s approval of the implementation of the MSMEs Survival Fund as part of the ESP was to cushion the impact of COVID-19 on the economy.  This, he noted, not only highlights the commitment of the administration to supporting MSMEs, but also the importance of MSMEs to the nation’s economy.
He said, “Under the Survival Fund is a Payroll Support Scheme, which will provide up to N50,000 in monthly salaries for up to ten (10) staff of a qualifying business, for a period of three months.
“There is also a N50,000 grant for 100,000 small and medium-scale businesses, while 333,000 self-employed persons working as artisans and transporters will benefit from a one-off grant of N30,000.
“The President has also approved that the Federal Government bear the full cost of business name registration for 250,000 new businesses nationwide.
“We are doing all these to support MSMEs across the country to maintain their staffing levels and keep their businesses afloat through these very challenging times.”
The Vice President said the Buhari administration’s commitment to the success of small businesses is evident in its MSMEs Clinics initiative, which extends business support services to small businesses across the country, of which the MSMEs Shared Facility Scheme is a core component.
The Eko facility, which was developed through a collaboration between the Federal Government, the Lagos State Government, and the Organized Private Sector, is an end-to-end fashion production centre equipped with needed machinery and will be made available to the public under a shared facility style structure.
According to the VP, “when they (MSMEs) thrive the economy thrives, when they struggle, the economy struggles.”
He added that the MSMEs’ Shared Facility Scheme being implemented by the Buhari Administration under the National MSMEs Clinics “seeks to provide high-quality operating equipment which small businesses can access at a reasonable cost, within a conducive space.”
According to the Vice President the facilities “help reduce operating costs for users, allowing them to invest the savings in expanding their businesses and hiring more staff.”
It would be recalled that in June this year, the Vice President had virtually commissioned and handed over the 200,000-capacity Yam Storage Facility at the Zaki Biam International Yam Market in Benue State.
The VP stated that there are also plans to establish more Shared Facilities in other parts of the country, including in Kaduna, Anambra and the FCT.
Speaking further on the significance of the Facility in Lagos State, regarded as Africa’s fashion capital, the VP added that, “the Eko MSME Fashion Hub 1 being commissioned today (which is strategically located by the old Alade market, just off the Allen Avenue roundabout, one of the leading commercial hubs on the continent) is equipped with first-rate machines and equipment.  I am told it will service 380 MSMEs daily, and 136,800 yearly.
The VP noted that, “the choice of Alade Market and the general Allen Avenue area was a unanimous one arising from extensive consultations between the Federal Government’s MSME Clinics project, the Lagos State Government and the fashion cluster in Lagos.
“With the launch of the Eko MSME Fashion Hub 1, MSMEs in and around Ikeja will no longer have to travel far to use equipment that is expensive for individual businesses to procure by themselves such as those for making button-holes or monogramming.
“With its full-scale production line, this Hub will enable production of a diverse range of clothing and garments: wedding dresses, military uniforms, office wear, and similar products. Very soon, the products of the Hub will be ubiquitous on the streets and in stores around the country. The fashion industry will be one of Nigeria’s biggest sources of revenues, it will be bigger than oil.”
Prof. Osinbajo added that the Buhari administration is also supporting small businesses by improving access to credit through the Central Bank, Development Bank of Nigeria, Bank of Industry, and others; and lessening the tax burdens, through initiatives like the Finance Act,  “which has exempted businesses generating less than N25 million in annual turnover from Companies Income Tax.  Those with a turnover of between N25m and N100m will only pay 20% corporate income tax instead of the normal rate of 30%.”
There are 161 machines at the EKO facility, including 74 industrial straight sewing machines, 10 industrial steam pressing irons, four monogramming machines, eight industrial button-hole and five industrial button tacking machines, Tinko and Coil machines, heming and industrial weaving machines, among others. The Facility also has a 100kva standby generator and a 2kva solar power system.
The Lagos State Governor, Babajide Sanwo-Olu, who was physically present at the event in Ikeja, commended the President and Vice President for supporting the scheme, and stated that there would be plans to replicate the same in other parts of the state.
Virtually present at the commissioning was the Minister of Works and Housing, Babatunde Fashola; Honourable Minister of State for Industry, Trade and Investment, Mariam Katagum; CEO and Group Managing Director, Access Bank, Herbert Wigwe; and the Special Assistant to the President on MSMEs, in the Office of the Vice President, Tola Johnson.
Other include the CEO, Bank of Industry (BOI), Mr. Olukayode Pitan; Director-General/CEO, Small and Medium Enterprises Development Agency (SMEDAN), Dr. Dikko Umaru Radda; Registrar General/CEO, Corporate Affairs Commission, Alhaji Garba Abubakar; Managing Director, NEXIM Bank, Abba Bello, among others.
Other government officials on ground at the commissioning include the State Commissioner for Commerce, Industry and Cooperatives, Dr. Lola Akande, among others.
Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President

breaking news in nigeria today

Kidnapped School Children

Yauri FGC Students, Kebbi
420 days 23 hours 46 minutes 10 seconds,

Baptist School Students, Kaduna
403 days 1 hour 27 minutes 35 seconds

Tegina Islamiya Pupils, Niger (Freed)
Spent 88 days from May 30, 2021 - August 26, 2021


Report By: PRNigeria.com

 
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Fashion Hub
  • MSMEs
  • VP Osinbajo
Previous articleCommodore Sabiru Lawal Takes over as Chairman Military Pension Board
Next articleNigeria on Track to Achieve 35% Reduction of Ozone Depleting Sustances
Laolu Akande

RELATED ARTICLESMORE FROM AUTHOR

Documentary: NBC Imposes N5m Fine on Trust TV

Two Federal Training Centres Get Accreditation for ND Programmes

Nigeria

Water Bill ‘ll Establish Regulatory Framework for Nigeria’s Water Sector – Minister

Buhari Appoints Degereji as Provost FCE Yola

FG Tasks BPSR on Assessment of MDAs

BPSR Tasks New CEOs, Board Members on Value Addition, Commends Konrad-Adenauer-Stiftung for Supporting Nigeria’s Development

NYSC DG to Plateau Corpers: Shun Yahoo-Yahoo, Cultism

Blockchain Tech: NITDA DG Lays out FG’s Adoption Strategies to Over 1500 Participants at Developers’ Summit

President Muhammadu Buhari

Buhari Appoints 3 New Perm Secs

FG Signs MoU with Halogen, to Train Youth on Cyber-security

Head of Service of the Federation, Dr. Folasade Yemi-Esan

Yemi-Esan to MDAs: Drive Implementation of Civil Service Strategy Plan

Head of Service of the Federation, Dr. Folasade Yemi-Esan

Speed up Digitalization Process, Yemi-Esan Orders MDAs

Recent Posts

  • NSCDC to Heighten Security Measures, and Civilian Protection in Conflict
  • Army trains 106 Cadet officers to curb insecurity The Nigerian Army has trained 106 Cadet Officers of the 69 Regular Course of the Nigerian Defence Academy (NDA) in mechanised operations to address the country’s security challenges. The Commandant, NDA, Maj.-Gen. Ibrahim Yusuf, said this during the closing ceremony of the training at Victor Kure Armoured Range in Bauchi on Thursday. Yusuf said the week-long training tagged: “Exercise Battle Crime,” was to expose them to various mechanised operations in tackling insecurity. “This exercise here today is the final phase of mechanised operations which is the phase four of the cadets. “The objective of the exercise is to expose the cadets to mechanised operations in order to prepare them in dealing with the current security threats,” he said. Yusuf said that the cadets would be graduating from the Academy in October, adding that there were seven female officers among them. He said that the training was in collaboration with the Armoured Corps, the Corps of Artillery and the Special Operations Command of the Nigerian Air Force. Yusuf said before the training, the Cadets were at the Nigerian Army School of Military Engineering, Makurdi, where they participated in an assault river crossing operations across River Benue. He added that they moved from there to the Citizenship and Leadership Training Centre, Jos, Plateau State, where they went through the adventure phase of their training. He commended the Chief of Army Staff (COAS), Lt.-Gen. Faruk Yahaya, for his resolve in making the training possible. “All these couldn’t have been possible without the overwhelming support from the Chief of Army Staff. All the tanks, the Artillery guns that took part in this operation were courtesy of the CAOS. “We appreciate the Army Headquarters for this outstanding support and I also want to appreciate the Chief of Air Staff that has authorised the Air Force to provide close air support during this phase of the operation,” he said. Also speaking, the Commander, Armoured Corps, Maj.-Gen. Suleiman Idris, disclosed that it was the first time the NDA Cadets would be coming to Bauchi State for this kind of training. Idris noted that the training was apt due to the security challenge in the country. “This is because when you are giving training to Cadets that are going to become officers who will be leading men to war, it is ideal to expose them to this kind of exercise,” he said. Also, one of the trainees, Officer Cadet Maryam Wawu, described the training as an eye opener. Wawu said it had broadened their knowledge on how effective the Nigerian Army could be in tackling insecurity. She also said the training had strengthened synergy between the combat arms, Combat Service Support Arms and sister services, especially the Nigerian Air Force. By PRNigeria
  • Zamfara CP, Elkanah bows out of service
  • FCTA Appeals to Environmental Workers over Strikes
  • NYSC DG Commissions 5,000 Seater Auditorium at Rivers Orientation Camp

Kidnapped School Children

Yauri FGC Students, Kebbi
420 days 23 hours 46 minutes 10 seconds,



Baptist School Students, Kaduna
403 days 1 hour 27 minutes 35 seconds

Report By: PRNigeria.com

Book on Sales: Boko Haram Media War: An Encounter with the Spymaster

boko haram

Click Here:To Order Now!

  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.