Osinbajo Inaugurates Fifth Shared Facility for MSMEs in Edo

By December 22, 2021 NEWS

Vice President Yemi Osinbajo on Friday commissioned the fifth shared facility for Micro, Small and Medium Enterprises.

The facility which is located in the Edo Production Centre, Benin City, Edo State, consists of multi-million-naira woodwork carpentry and cabinet making factory.

Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement titled, ‘Relieving MSMEs’ financial burdens, FG opens 5th shared facility in Edo, after Benue, Lagos, Anambra & Imo.’

According to him, “Shared Facilities provide MSME clusters with machinery that different businesses can use or rent for short periods.

“In addition to convenience and access to the latest equipment, this arrangement also spares them the financial burden of having to purchase vital equipment on their own.”

On Wednesday, December 15, the Vice President had commissioned the fourth Shared Facility in Imo State, comprising 200 world-class manual and fully automated fashion equipment.

Speaking of the Edo carpentry, Osinbajo said the “facility is equipped with state-of-the-art machines and equipment, which when used to capacity, can produce over 250 furniture items daily, including doors, dining sets, credenzas and cabinets.”

He urged furniture-producing MSMEs in Edo State to take leverage the facility to improve their production.

He explained that the government aims to provide at least one Shared Facility in every state of the federation, to help MSMEs access world-class equipment to increase their production and quality at lower costs.

“In the course of running the clinics, we noticed that in addition to their requests for a more friendly regulatory environment, MSMEs also wanted to be supported in terms of production facilities which were lacking or too expensive,” he said.

Commending Governor Godwin Obaseki and his team for the partnership and dedication towards the process, the Vice President noted that “in addition to providing a suitable location, the state government also provided the workspace to house the equipment.

“On the Federal side, MSME partners such as the Bank of Industry, NEXIM Bank, NAFDAC, SON, ITF, Raw Materials and Research Development Council and the Private Sector came together with the Edo State Government which provided and renovated this premises.”

Asides from the newly commissioned facility, other Shared Facilities are located in Benue, a 200,000 capacity Yam Storage facility, Zaki Biam International Yam Market; Lagos, Eko MSME Fashion Hub 1 which services about 300 tailors and fashion designers daily; Anambra in Ogbunike, Oyi, a shoemaking facility with industrial equipment and machines within proximity of the Anambra shoe-makers; and Imo State, a fashion facility in Owerri dedicated comprising 200 world-class manual and fully automated fashion equipment.

The Vice President restated plans to commission the next Shared Facilities in eight other states: Kaduna, Kebbi, Ogun, Ebonyi, Kano, Katsina, Ekiti and Bauchi, come 2022.

Extending the regards of the President, Major General Muhammadu Buhari (retd.), Osinbajo said, “We expect that our MSME partners will ensure that final products from here meet global standards and are fit for export to the rest of the world.”

He noted that all the Shared Facilities will be run by a competent private sector firm while the Federal and State Governments keep a constant eye on its activities to ensure it achieves its set objectives.

In his remarks, Governor Obaseki thanked the Federal Government and Vice President for supporting development initiatives in the state.

After commissioning the Facility, the Vice President also attended the graduation of Edo State Government Tech Park where Governor Obaseki commended the Vice President for sowing the seed that has produced the take-off of the park.

Osinbajo also performed the laying of the foundation for the permanent site of the park.

Besides the Vice President and the Governor, Friday’s events were also witnessed by the Deputy Governor of Edo State, Philip Shaibu, and the Minister of State for Budget and National Planning, Clem Agba, who accompanied the Vice President to Edo State.

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