Tinubu says Nigerians Have No Reason to Be Poor, Vows Stronger Support for MSMEs

President Bola Tinubu has reiterated his administration’s commitment to empowering Micro, Small, and Medium Enterprises (MSMEs), stating that Nigerians have no reason to be poor given the country’s abundant human and natural resources.

The president made the statement on Wednesday during the 8th Expanded National MSME Clinic held in Calabar, Cross River State. He was represented at the event by Vice President Kashim Shettima.

Highlighting the agricultural potential of Cross River, Tinubu noted that the state’s fertile land makes it ideal for cultivating a wide variety of crops. He also revealed that the Federal Government plans to plant 100 million oil palm trees nationwide, emphasizing that Cross River is well-positioned to lead in this initiative.

“Our administration is focused on improving access to capital and supporting ventures that will redefine the future of work, skills, and industries,” Tinubu said.

He commended the Cross River State Government for establishing a modern communication and technology hub tailored to MSMEs, describing it as a strategic move that aligns with global digital trends.

“The hub provides MSMEs with access to high-speed internet, cutting-edge equipment, and collaborative workspaces — tools that can empower entrepreneurs across sectors,” he said. “The digital world is not reserved for big cities; it has room for the market woman in Ikom, the furniture maker in Calabar, and the fashion designer in Ogoja.”

The president emphasized that his administration’s Renewed Hope Agenda goes beyond providing loans and grants. “We are building an ecosystem that fosters infrastructure development and unlocks the creativity of Nigerian entrepreneurs,” he added.

In his remarks, Governor Bassey Otu described the MSME Clinic as a joint initiative between Cross River and the Federal Government aimed at stimulating entrepreneurship and economic growth in the state.

He noted that through the state’s Microfinance and Enterprise Development Agency, over 3,500 entrepreneurs have been trained in various aspects of business development.

“The impact of MSMEs on livelihoods is significant,” Otu said. “With joint efforts, we can raise the standard of living for our people.”

Also speaking at the event, Mr. Pius Neji, Head of the Bank of Industry (BOI) in Cross River, reaffirmed the bank’s commitment to supporting small businesses. He disclosed that the BOI had already disbursed approximately ₦260 million to MSMEs in the state.

“Cross River has immense potential. With the right support, its industrialization could play a major role in advancing Nigeria’s economy,” Neji added.