Vice President Kashim Shettima has revealed that the newly established National Philanthropic Office (NPO) is set to raise $200 million in grants and non-financial investment to support the Micro Small Medium Enterprises (MSME) space in the country.
Shettima disclosed this in a statement during the inauguration of the Local Implementation Committee of the National Philanthropic Office (NPO) at the Banquet Hall of the Presidential Villa, Abuja.
According to the vice president, President Bola Tinubu’s unwavering commitment to societal improvement is the reason for the establishment of NPO as a means of helping the vulnerable and creating an enabling environment for MSMEs.
He also mentioned that the programme will be driven 100% by the private sector, with full support from the government, both at the national and sub-national level.
Speaking further, the vice president said that eligible MSMEs will receive grants ranging from N5 million to N10 million through the initiative.
He also added that the programme will target 50% of women-owned businesses and start-ups.
