Yemi Osinbajo, vice president, has stated that the persistent drive, enthusiasm, and inventiveness of young Nigerians are the country’s best hope for prosperity and the provision of jobs and opportunity for the millions of young people who enter the labor force each year.
This was said by Osinbajo on Monday night at the State House Old Banquet Hall in Abuja during the fifth national Micro Small and Medium Enterprises (MSME) awards banquet.
The Vice President praised the perseverance and contributions of the young businesspeople who took home prizes at the event, saying in a statement issued by Laolu Akande, Senior Special Assistant to the President on Media and Publicity: “These MSMEs tell the story of our country’s great economic future.”
He declared: “We are planning to produce our own renewable energy trucks and cars, as well as our own weaponry, armored mobile platforms, and airplanes. We have everything we need.
The MSMEs in technology and manufacturing, particularly in the clean energy or green economy, require special notice, the Osinbajo said, referring specifically to possibilities in those industries. I have no doubt that this industry will play a significant role in future industrial growth and help Nigeria achieve economic prosperity.
The Vice President reaffirmed the Federal Government’s commitment to helping small enterprises by creating an environment that is conducive to their success.
Osinbajo announced plans for the creation of MSME shared facility projects, including the Kaduna State hub for tomato paste production and the renovated Adire market in Ogun State.
Other facilities are currently being built in the states of Kano, Gombe, Bauchi, Kebbi, Ebonyi, Delta, Nasarawa, Ekiti, and Abia, he continued.
The Vice President then singled out a few of the winners for praise.
“The first is Thinkbikes Limited, founded by Tolulope Olukokun and recipient of the BOI Award for Excellence in Manufacturing, which makes solar- and battery-powered bikes with a 50-kilometer range on a single charge.
“The second is Phoenix Renewables Ltd., which Mustapha Abubakar Gajibo created and which received the NITDA Award for Excellence in Innovation. The business creates tricycles, solar- and electric-powered automobiles, as well as auto and engine parts.
“The cars are presently being used for citywide transportation in Maiduguri. They had transported almost 21,000 passengers by April. At the Phoenix Renewables booth at the Borno MSME Clinic, I had the unique privilege of piloting one of the electric vehicles.
“The third is the Tochukwu Clinton Chukwueke-founded Clintonel Advanced Engineering Centre, winner of the Access Bank MSME of the Year Award. The business manufactures high-precision components, molds, medical devices, and vehicle engine parts.
He claimed that by increasing the value of awards given to winners from a starting one-star reward car in 2018 for the MSME of the Year winner to 10 automobiles in all categories in 2022, the relationship between the federal government and the private sector has significantly improved over time.
The awarding of prizes to winners in the many categories, including outstanding States like Ogun for best State in MSME policy and Edo for best State in shared facility, Imo for best state in fashion, Borno for emerging state in innovation, was the event’s high point.