The President Muhammadu Buhari administration through the office of the Vice President Prof. Yemi Osinbajo has been monitoring, empowering, and supporting the MSME space since 2017 through the establishment of the National MSME Clinics. An initiative meant to bring MSME’s and regulatory bodies together to tackle major MSME related issues.
As a result of the activities of MSME Clinics, the government has identified major problems faced by MSMEs in the country, some of these problems include;Access to fundingBusiness formalizationAccess to Grants and loansProduction Machines
Some of these issues gave birth to the creation of the MSME One-Stop Shop and the Shared Facility Programs.
With the advent of the COVID-19 Pandemic, it became necessary for the Government to support vulnerable micro and small enterprises already struggling to meet their payroll obligations and safeguard jobs within the creative industry. The Economic Sustainability Committee established the MSME Survival Fund to support businesses and self-employed individuals within the MSME space.