MSMEs
AfreximBank to support Ogun infrastructural development with $200 million
The African Export-Import Bank (Afrexim) has disclosed its plans to support infrastructural development in Ogun State with an envelope of $200m. The fund, according to the bank, will be dedicated towards projects and other developmental initiatives embarked upon by the incumbent administration in the state. The President and Chairman of the Board of Directors of the Afrexim Bank, Benedict Oramah, who made this known when he led management of the bank on a courtesy visit to Governor Dapo Abiodun at his Oke-Mosan Office, Abeokuta, on Monday, equally said the bank would partner Ogun on ensuring that the 250-bed Specialist Hospital, Abeokuta, is completed and begin operations soon. Oramah, while noting that the bank has been investing heavily in the health sector in Africa to develop vaccines ...
Presidency: One million Nigerians benefitting from survival fund
The Presidency yesterday said that over one million Nigerians have so far benefitted from the Survival Fund scheme under the Federal Government’s Economic Sustainability Plan (ESP). The Presidency said there are 500,000 beneficiaries from the MSMEs Payroll support track, 44,500 under the one-off General MSME Grant, and another 265,425 under the artisan support track, among others. Recall that payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant had commenced at the end of April. A statement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, in Abuja last night explained that so far, under the ESP there are currently over one million beneficiaries nationwide from the various schemes...
VP Osinbajo: Nigerian government democratising broadband connectivity
It’s the first in sub-Saharan Africa and one of the three such cutting-edge facilities on the continent, with top prime global certifications for smart card manufacturing and it is based in Lagos, Vice President Yemi Osinbajo, SAN, relished yesterday afternoon while touring SecureID company’s premises, and affirmed Nigeria’s extremely bright economic future, which he said cannot be aborted despite current challenges. According to him, “the economic future of our nation is extremely bright. Yes, we have challenges today and they may look daunting. But let me assure you that these issues will be resolved. The march of this nation to its manifest destiny as Africa’s leading economic power will not be aborted. We are more than able to overcome.” An impressed Prof. Osinbajo said the Buhari Admi...
WTO chief warns against Nigeria’s continued reliance on oil & gas
Dr. Ngozi Okonjo-Iweala, Director General of World Trade Organisation (WTO), has warned of Nigeria’s continued reliance on crude oil and gas as the major source of revenue to the government. Okonjo-Iweala sounded the warning on Wednesday in Abuja at a meeting with Women Entrepreneurs in Nigeria held at the headquarters of the Nigerian Export Promotion Council (NEPC). She urged the government to transit from oil and gas based economy to other non-oil sectors. She pointed out that unless Nigeria diversifies her economy, it would be left behind by other countries. She said, “I have kept on harping that Nigeria should transit from oil and gas based economy to producing in other non-oil sector. “This is because of the climate change. Fossil fuels which are oil and gas, that Nigeria depends on, ...
Ekiti moves to reposition MSMEs for economic growth
Ekiti State Government has expressed its determination to enhance the growth of Micro, Small and Medium Enterprises (MSMEs) to boost economic prosperity of the state. The government had before now reconstituted a 22-member Council to address the myriad of challenges confronting MSMEs in Ekiti , with intention to upscale industrial growth and development . The Commissioner for Investment, Trade and Industry, Mr Muyiwa Olumilua, stated this during a one-day sensitisation workshop with the theme: “Making Economy A Private Driven Economy” held in Ado Ekiti. He said the state government will partner federal government and corporate agencies to facilitate opportunities for business owners in the state. Olumilua at the event, which brought together medium and small scale business owners from acro...
Lai Mohammed: My only regret as minister
Nigeria’s Minister of Information and Culture, Lai Mohammed, has said his only regret as a minister is that some Nigerians have failed to appreciate that the administration of President Muhammadu Buhari is doing so much with little resources. Mr Mohammed stated this at a Special Forum of the News Agency of Nigeria (NAN) in Abuja. He said with dwindling resources, no government in the history of Nigeria has implemented programmes alleviating poverty among women and vulnerable groups as well as created jobs for the youth as the Buhari administration had done. The minister said his regret was that some Nigerians have failed to appreciate the efforts of the government but keep celebrating negative developments. “My regret in this government is that Nigerians have failed to appreciate that the ...
Lagos Assembly urges Governor Sanwo-Olu to create MSMEs hubs
Pool Photo Lagos State House of Assembly has called on the Governor, Babajide Sanwo-Olu, to create Micro, Small, and Medium Enterprises, MSMEs, hubs in the three senatorial districts in the state. The call was part of the Motion entitled; “Call on the State Government to Establish Micro, Small and Medium Enterprises MSMEs, Commercial Hubs In All The Senatorial Districts of Lagos State,” raised by a member representing Kosofe Constituency 1, Mr. Ganiyu Okanlawon, during yesterday plenary. Moving the motion, Okanlawon opined that, life will become bearable if MSMEs grow, stating that the idea of SMEs as conceived by China brought about growth in the nation’s economy. According to him, establishing commercial hubs in places including Epe, Ibeju Lekki among others would grow the economy of t...
Survival Fund: Nigerian government releases registration schedule as portal opens Monday
As the portal for the registration of prospective beneficiaries for the Survival Fund opens on Monday, the Federal Government has released the timetable for categories of businesses to register. A statement issued in Abuja on Sunday by the Project Delivery Office stated that the portal which opens at 10 PM, will have educational institutions as the first category of beneficiaries to register. “Nigerians interested in the Payroll Support scheme are to note that the site for registration will be open from 10 pm Monday, September 21, 2020. “In order to ensure a seamless registration process, the Project Delivery Office (PDO) has designed a registration schedule. “Registration for Payroll Support will start with educational institutions on Monday and will be followed with businesses in the hos...
Nigerian government’s stimulus package will avert deep economic recession – minister
Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, has stated that the provision of stimulus package by the Federal Government will go a long way in preventing the country from plunging into deep economic recession. Prince Agba stated this at a virtual roundtable discussion, among state and non-state actors, international organizations and donor agencies, facilitated by the Nigeria’s secretariat of Open Government Partnership (OGP). The minister, who is a co-chair of OGP, led the discussion, which focused on ensuring an effective and inclusive stimulus as well as safety nets campaign for Nigeria as part of the response to the COVID-19 recovery. The Minister said that the roundtable discussion was aimed at improving transparency and accountability as the country r...
