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Nigerians applaud Osinbajo’s push for MSME growth in #MyLoveForOsinbajoStands trend

Vice President Yemi Osinbajo, SAN, congratulating an awardee at the 5th MSME Awards programme held at the State House Banquet Centre, Abuja, on Monday, June 27, 2022. Photo: Tolani Alli

By Oluwafemi Popoola

Nigerians on social media have applauded the impact made by Nigeria’s Vice President, Prof Yemi Osinbajo, SAN, for his profound contributions towards the steady growth of the Micro Small and Medium Enterprise (MSME) sector in the country which they said have greatly affected the economy positively, likewise commending his overall contributions to Nigeria’s development.

Under the #MyLoveForOsinbajoStands trend on Twitter, the micro-blogging site, the Twitter users at the early hour on Tuesday, June 28, 2022, poured out their minds and celebrated the Vice President for his great understanding of this informal sector to the critical objective of growing the economy and catering to the jobless in the society.

This was also in commemoration of the World MSME Day 2022, globally marked on Monday, June 27, the date set aside by the United Nations General Assembly as the “Micro-Small, and Medium-sized Enterprises Day” to raise contributions of micro-small and medium-sized enterprises (MSMEs) to the achievement of the United Nations Sustainable Development Goals (SDGs).

In the same manner, to mark this year’s celebration, earlier, Vice President Yemi Osinbajo, on Monday, attended the 5th MSME Awards dinner held at the Statehouse Banquet Centre, Abuja.

There at the event, the Vice President commended the steadfastness of the winners of the award, while he also praised the Nigerian young entrepreneurs for their relentless drive and creativity to the nation’s economic prosperity.

According to him: “We are set to manufacture our own vehicles, clean energy trucks and cars, and we are on course to manufacturing our own weapons, armoured mobile platforms and aircraft. We have all it takes.”

Making specific reference to prospects in the manufacturing and technology sectors, the Vice President noted: “I believe that MSMEs in technology and manufacturing especially in the clean energy or green economy deserve special mention. I am convinced that this sector will be crucial in global industrial development in the coming years and will leapfrog Nigeria to economic prosperity.”

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It was in reacting to the award and dinner event, that many Nigerians took to social media to celebrate the winners of the award, in what now turned out to be a celebration of VP Osinbajo, which many responders said was the pivot to homegrown Nigeria’s MSME sectors.

Many who contributed laid bare their thoughts on the growth of the MSMEs as a sub-sector that has received presidential attention through the platform of the MSME clinics; an initiative of the VP Yemi Osinbajo, which thus far has seen to the disbursement of N150 billion to MSME owners who participated in the MSME clinic across over 24 states in Nigeria in the past five years.

A Twitter user commenting via @AdewumiCollins wrote: “Osinbajo attends the 5th MSME award yesterday. Since d inaugural MSME clinics in 2017 in Aba, the MSMEs sub-sector has been receiving presidential attention. It is an initiative of Vice President Prof. Yemi Osinbajo, the father of MSME

Another commenting identified as Olaoye on Twitter wrote: “The Vice President Yemi Osinbajo was at the 5th MSME award. Osinbajo has really used the MSME Clinic to assist medium businesses to grow in Nigeria. So many businesses have been registered at low cost and many products are certified. #MyLoveForOsinbajoStands

“In Nigeria where bad leaders stole billions of dollars 💰 we now have one VP Yemi Osinbajo committed to making Nigerians’ lives better. With the good economic policy he champions, FG has disbursed N150bn for #MSME growth. God bless Prof! 🙏
#WorldMSMEDay2022 #MyLoveForOsinbajoStands,” a Twitter user, Uzo Dan-Macaulay, wrote.

Musa Jacob, another Twitter user praised the leadership aptitude of Osinbajo coupled with his deliverables thus far as Vice President, saying: “One thing I learnt about this man’s leadership is that every program under his office has gotten a pass mark. Imagine when beneficiaries of your work say you are a blessing to the nation.
I call that great leadership.
Thank you, Vice President Osinbajo and all the teams.”

Oladeji Olalekan, another Twitter user said: “The Vice President, Prof Yemi Osinbajo, SAN, is an outstanding leader with the empathy of growing local manufacturers and bringing governance into people… Abuja. 27th June 2022.

Recalled the MSME clinic is a brainchild of the VP that was conceived to bring the government closer to the people by assembling in one place all the regulatory agencies whose work affects the business experience of small and medium-scale businesses.

The clinics are strategically positioned to address the plethora of challenges faced by the millions of entrepreneurs who eke out a living with these small businesses across the country.

It will be noted that year, 100 young entrepreneurs received business-defining grants of over N1 million each that helped them grow and advance their businesses. The testimonies of the beneficiaries had littered the social media space with a lot of them appreciating the Vice President.

Analysing the results of its drive thus far, the UN had said “MSMEs account for 90% of businesses, 60 to 70% of employment and 50% of GDP worldwide. As the backbone of societies everywhere, they contribute to local and national economies and to sustaining livelihoods, in particular among the working poor, women, youth, and groups in vulnerable situations.”

This year, it said, “the International Trade Centre (ITC) marks the 5th anniversary of MSME Day, and small businesses are more than ever in need of support, as they navigate the impacts of the COVID pandemic, conflicts and the climate crisis. They are the hardest hit by these multiple shocks, and at the same time play a critical role in building back stronger.

“MSMEs have to become more resilient to future shocks, and efforts and stimulus packages must target those most heavily affected by disruptions to global supply chains, rising inflation, and the continuing ramifications of the COVID-19 pandemic.

“Policymakers must move beyond recovery and consider ways in which to lower and eliminate barriers faced by MSMEs, improve the business environment and access to finance, markets and technology in these fragile times. It is critical that countries and their development partners continue to support and empower MSMEs and unlock their full potential through inspiring innovation, creativity and decent work for all.”

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