Ondo State holds strategic position in Nigeria’s journey toward economic transformation -VP Shettima

……….Gov Aiyedatiwa highlights Ondo’s milestones, seeks federal backing for fashion hub, oil palm industry

By Precious Oluwole

Nigeria’s Vice President, Senator Kashim Shettima, has affirmed that Ondo State holds a strategic position in Nigeria’s journey toward economic transformation, particularly through the development of Micro, Small, and Medium Enterprises (MSMEs).

Shettima made this declaration on Tuesday, at the 7th edition of the Expanded National MSME Clinic, themed Ondo 2025.

The event, held at the International Culture and Event Centre, The Dome, brought together policy makers, business leaders, young entrepreneurs, and key stakeholders in the MSME ecosystem.

In his keynote address, the Vice President emphasized that no meaningful economic growth can occur in Nigeria without the active development and support of MSMEs — the bedrock of job creation and sustainable wealth.

“MSMEs account for 90 percent of jobs in this country. They are key to poverty alleviation and national prosperity. The growth of our economy must go hand in hand with the growth of small businesses,” he said.

Shettima disclosed that 65 MSMEs in Ondo State had already accessed funding from the Federal Government’s ₦75 billion intervention fund, further underlining the state’s importance in the country’s development agenda.

“This fund is not just a lifeline, it is a strategy. It is designed to provide affordable financing for entrepreneurs and create resilience in our economy,” the VP added.

He also reiterated the commitment of the Tinubu administration to revamp critical sectors, announcing a nationwide campaign to plant 100 million oil palm trees and revive the cocoa industry, a plan aligned with Ondo State’s agricultural potential.

“Ondo is already a leader in oil palm and cocoa production. We expect this state to play a central role in this agricultural revolution,” he added.

Shettima appreciated Governor Aiyedatiwa, for his government’s infrastructure drive and support for small and medium scale enterprises.

“Let me commend the Governor of Ondo State for his visible commitment to development. What I’ve seen here today is very impressive,” the VP said.

In his address, Governor Aiyedatiwa, described the clinic as a revolutionary step towards unlocking the full potential of Nigeria’s economy through MSME development.

He noted that MSMEs remain the backbone of Nigeria’s economy and highlighted his administration’s commitment through the state’s OUR EASE agenda, which aligns with the Federal Government’s Renewed Hope Agenda.

Governor Aiyedatiwa also celebrated the achievements of several Ondo-based MSMEs who have won national recognition, including Denki Wire and Cables Ltd and Kay Classic Fashion winners of the National MSME Awards for Excellence in Manufacturing and Fashion, respectively.

The Governor further outlined the state’s ongoing support for MSMEs, including the interest-free loans via the Ondo State Micro-Credit Agency (ODSMA), which disbursed over N220 million in 2024 alone, access to the Bank of Industry’s N75 billion intervention programme, the “One Youth One Skill” initiative and the establishment of the Odatiwa Skills Development Enterprise Centres (OSDEC), which has the first mini shared facility in Ondo’s history.

He appealed to the Vice President for federal support in establishing a Fashion Hub Shared Facility in Ondo State, and an Oil Palm Processing Plant to boost productivity for the state’s vast oil palm farms.

Also speaking at the event, Governor Abiodun Oyebanji of Ekiti State commended the initiative behind the MSME Clinic, describing it as a strategic effort to develop human capacity and support the growth of small businesses.

Oyebanji emphasized the importance of patronizing locally made goods, stating that national development is best driven by productivity.

The Ooni of Ife, His Imperial Majesty Oba Adeyeye Ogunwusi, Ojaja II, in his goodwill message, praised the empowerment of young entrepreneurs and called for stronger patronage of Nigerian made products and public-private collaboration.

Also speaking at the event, Mr. Temitola Adekunle-Johnson, Special Adviser to the President on Job Creation and MSMEs, gave a recap of the clinic’s impacts across the country, emphasizing the role of direct access to regulators in improving MSME efficiency and performance.

In his welcome address, the Deputy Governor, Dr Olayide Adelami, thanked Vice President Shettima for gracing the occasion, stressing that the Aiyedatiwa administration has implemented various policies aimed at empowering businesses and boosting the economy of the State.

The Senior Special Assistant to the Governor on Youth Empowerment and Job Creation, Orioye Gbayisemore, said the state government is offering support to small business owners whose efforts contribute meaningfully to our national development.

Gbayisemore added that the Government of Ondo State has successfully empowered over ten thousand youths through various innovative programs and initiatives, describing Ondo State youth as exceptionally hardworking, creative, and entrepreneurial.

Earlier in the day, the Vice President visited the Ondo State Council of Obas Secretariat where he met with traditional rulers and sought continued royal support for the Tinubu administration’s policies and reform agenda ahead of 2027.