TheCable

Vice President Yemi Osinbajo has commissioned a micro, small and medium enterprises (MSMEs) shared facility at the Ogbunike leather trading cluster in Anambra.

Osinbajo stated this in a statement by Laolu Akande, his spokesperson, on Tuesday.

He said the initiative would transform businesses within and around the cluster, hugely increasing their production capacity.

“I am told this leather cluster has about 2000 stores with almost 30,000 MSMEs operating here. So, I have no doubt that this facility will be of immediate value to all of them,” he said.

“When asked, some of MSMEs operating here said they are able to produce 200 to 400 shoes a month, using manual processes. With this facility, the MSMEs located here would now have a potential monthly production of 96,000 shoe soles, 44,000 slippers, 44,000 shoes and 22,000 boots.

“This project will also help provide relative succour to MSMEs by also housing a one-stop office for MSMEs. This arrangement brings all relevant regulatory agencies under one roof to enable MSMEs requiring services or facing difficulties to access them with ease.”

Osinbajo said President Muhammadu Buhari-led administration considers the southeast zone as a strategic industrial, trade hub, and a major player in Nigeria’s economic growth.

The VP also launched the Awka 120MVA 132/33kV sub-station, noting that the project will serve as a substantial addition to power capacity as well as improve the efficiency of businesses.

“The commitment of the Buhari administration to ensuring the completion of this Awka NIPP 132kV Grid Substation now provides a hitherto unavailable 70MW additional power capacity for driving industrial growth and boosting the economy of the state, with positive knock-on effects on employment and socio-economic upliftment for residents of the state,” he said.

Osinbajo said the second Niger bridge project which connects Asaba in Delta and Onitsha in Anambra has now achieved 65% completion and will be completed by October 2022.

He added that the concession of the Onitsha Inland River Port is in its final stages, while both the draft concession agreement and the full business case (FBC) have been transmitted to the Infrastructure Concession Regulatory Commission (ICRC) for necessary action.

While thanking the VP, Willie Obiano, governor of Anambra, acknowledged the support the state has received from the federal government across different sectors including MSMEs, infrastructure projects, among many others.

He noted that thousands of small businesses have benefitted from schemes implemented by the federal government, including direct disbursements to businesses in the state.