The Federal Government on Monday in Abuja has set up modalities for the disbursement of 2, 000 buses to cushion effects of subsidy removal. Dr George Akume, Minister of Special Duties and Intergovernmental Affairs in his speech at Inter-Ministerial Stakeholders meeting on Poverty Alleviation, said the initiative was also part of programme to lift 100 million Nigerians out of poverty. Akume said the initiative was in collaboration between his ministry, Agriculture and other government agencies saying the disbursement of the buses would be through cooperative societies of Nigeria. He recalled that President Muhammadu Buhari in his 2019 democracy speech, promised to lift 100 Nigerians out of poverty through numerous governments` initiatives. “The alleviation of poverty in Nigeria has been and...
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Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...