Vice President Yemi Osibanjo on Thursday launched Ebonyi state edition of National Micro, Small and Medium Businesses (MSMEs) Clinic at Ecumenical Center in Abakaliki, the Ebonyi state capital.
Osibanjo said that the Federal government was encouraged by the number of MSMEs he interacted with when he arrived the state and further expressed confidence that with the launch of the Clinic, rapid development of not only Ebonyi bstste but the country at large is imminent.
“Msme is the engine room of the economy and federal government has worked and created enabling environment for MSME to strive because of ease of doing business in the country”.
“Nigeria is one of the Ist tenth reforming economies in the world. On January, 13, 2020, FG signed the Finance Act which exempted companies with turn over of below N25 million from paying taxes. Also, 10 percent reduction of income tax of companies with turn over of N25 million and above,” Osibanjo said.
Osibanjo assured Small and Medium Enterprises Owners of Federal Government’s commitment towards solving some of the challenges facing the establishment and operations of Micro, Small and Medium Enterprises, MSMEs in the country.
The Vice President who listed some of the challenges to include access to credit facilities, big machines, registration of products and overzealousness of government officials expressed optimism that the empowerment of MSMEs would lead to the economic growth of the country.
