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Again, FG Disburses ₦250,000 Each To Small Businesses At 7th MSMEs Clinic In Ondo
Again, FG Disburses ₦250,000 Each To Small Businesses At 7th MSMEs Clinic In Ondo
** Enabling environment for MSMEs central to President Tinubu’s economic policy, says VP Shettima
By: Our Reporter
The federal government, on Tuesday, disbursed ₦250,000 unconditional grants each to outstanding business owners in Ondo State as part of ongoing efforts to empower Micro Small and Medium Enterprises (MSMEs) across the country.
To this effect, Vice President Kashim Shettima, who announced the disbursement of the grants, said creating an enabling environment for MSMEs in Nigeria is central to the economic policy of the Renewed Hope administration of President Bola Ahmed Tinubu.
Speaking during the launch of the 7th Expanded National MSME Clinics in Akure, the Ondo State capital, Senator Shettima described the ₦250,000 grant as a gift from Nigerians, through their government, to the champions of local industry.
“I am also pleased to announce today, in line with President Tinubu’s unwavering support for grassroots enterprises, that every outstanding exhibiting MSME identified during this clinic will receive an unconditional grant of ₦250,000.
“This is not a loan. It is a gift from the Nigerian people, through their government, to the champions of local industry. It is our way of saying: we see you, we value you, and we believe in your journey,” he declared.
The Vice President noted that because MSMEs account for over 90 per cent of businesses in Nigeria, contributing over 45 per cent to the national economy and employing more than 60 million Nigerians, they are not only economic actors but also “the silent architects of survival, the lifelines of households, the pulse of every community”.
Explaining why MSMEs are central to the economic policy of the Tinubu administration, VP Shettima maintained that while they are the true engine of poverty alleviation, no sustainable effort to reduce poverty could be achieved without the jobs and opportunities they create.
Nigeria’s national prosperity, according to the VP, is entwined in the success of MSMEs, and the nation cannot grow its economy without empowering them.
He continued: “This is why the Renewed Hope Agenda of President Bola Ahmed Tinubu places the creation of an enabling environment for MSMEs at the heart of our economic policy. It is not rhetoric. It is a call to action. It is a covenant with the builders of our future.
“This administration is deliberate in walking the talk, and one of the ways we do so is through platforms such as the MSME Clinics, conceived to draw the Federal Government closer to the creators of jobs, the innovators, the dreamers who make things happen in our communities.”
Underscoring the essence of launching the Expanded MSMEs Clinic in Ondo State, the Vice President said they offer small businesses in the state an unprecedented opportunity “to engage directly with regulatory agencies, financial institutions, and business support organisations.”
Senator Shettima also outlined other interventions under the President Tinubu administration to include the creation of a ₦75 billion MSME Intervention Fund being administered by the Bank of Industry (BoI), ₦50 billion Presidential Conditional Grant Scheme to support one million nano businesses across the 774 local government areas of Nigeria with grants of ₦50,000 each, and ₦75 billion Manufacturers Fund for manufacturers to access up to ₦1 billion in funding at a 9 percent interest rate.
He said the idea is to ensure the challenges of small business owners “find answers, not in theories or wishful thinking, but in real-time, face-to-face, problem-solving conversations.”
The VP assured that MSMEs remain the centre of economic vision of the Tinubu administration, urging small business owners “to take full advantage of the opportunities before them by engaging with the agencies present, seeking guidance, asking questions, and seizing every chance to elevate their businesses.
He thanked the government of Ondo State for its partnership on investments in infrastructure, commending the state’s commitment to policies that welcome innovation and enterprise, as well as its support for local industry, which align perfectly with the federal government’s “broader agenda for a prosperous, inclusive economy.”
Earlier, the Governor of Ondo State, Dr Lucky Aiyedatiwa, said the state government is also in alignment with the initiative of the federal government to drive MSME development and is implementing schemes that have enabled small businesses to address challenges inhibiting their growth.
He pointed out that his administration’s 7-point agenda, which prioritises MSME growth and development, has been impactful and has resulted in successes across different sectors of agriculture, manufacturing, and fashion, among others.
Acknowledging the determination of President Tinubu and Vice President Shettima to support growth in the sector, Governor Aiyedatiwa said, “Your presence here today demonstrates your unwavering commitment to the development of our state and key sectors of our nation’s economy.
“Your interest in promoting MSMEs across Nigeria has changed the fortunes and stories of small businesses across our country, and we remain grateful.”
In a goodwill message, Governor Biodun Oyebanji of Ekiti State appreciated the federal government, particularly the Vice President, for personally driving the initiative of the Clinics.
He acknowledged that the Ekiti edition of the clinics had been impactful and remains invaluable, as businesses have continued to benefit from the network created through the programme.
Governor Oyebanji said the programme is the first attempt by any government in Nigeria to align growth to development through a deliberate and direct interface between facilitators and small business operators across the country.
In his welcome address, the Special Adviser to the President on Job Creation and MSME, Mr Temitola Adekunle-Johnson, said the Clinics have so far been very impactful, given the testimonials from operators in the sector.
He noted that the edition in Ondo State will not be different, as MSMEs were already interacting with regulatory agencies and partners to resolve issues affecting the growth of their businesses.
On his part, the Ooni of Ife, His Majesty, Oba Adeyeye Enitan Ogunwusi, acknowledged the contributions of the Vice President and Ondo state Governor to the growth of the MSME sector in the state, urging all stakeholders to support and promote made-in-Nigeria products as part of the broad plan to support budding entrepreneurs across the country.
On his part, the Director General of Small and Medium Enterprises Development Agency (SMEDAN), Mr Charles Odii, said that through the Clinics, the Tinubu administration’s agenda for small businesses is being actualised as evidenced in the feedback received from participants at the Ondo clinics.
The high point of the occasion was the tour of the products exhibition by small business operators in Ondo and beyond by the Vice President, accompanied by the governors of Ondo and Ekiti, among other dignitaries.
Earlier, while addressing the traditional council at their chamber, Vice President Shettima thanked the Ooni of Ife, Oba Adedeye Enitan Ogunwusi, the Ojaja II, describing him as a bridge builder who is endeared by the Tinubu Administration.
He told the traditional council that President Tinubu, “being a son of the South West, is a man of courage who means well for traditional institutions.”
VP Shettima noted that President Tinubu is aware of the condition of the people across the country, and has summoned the courage to remove fuel subsidy, stop multiple taxation and open the Lagos-Badagry-Calabar Highway for economic activities along that corridor,” among many other policies of government to mitigate the sufferings of the people.
Earlier, the Chairman of Ondo State Council of Chiefs, His Royal Majesty, Oba (Dr) Ajibade Gbadegesin Ogunoye III, commended President Tinubu for removing fuel subsidy, noting that this has enabled the federal government to deploy the subsidy funds to other sectors of the economy for which Ondo State is a beneficiary.
He also commended the federal government for being focused and pledged the support of the traditional council to the success of government policies, both at the national and Ondo state levels.
Again, FG Disburses ₦250,000 Each To Small Businesses At 7th MSMEs Clinic In Ondo
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
By: Michael Mike
The Federal Government of Nigeria has launched an ambitious Net Zero Investment Plan (NZIP), a major policy framework designed to mobilise climate finance, accelerate sustainable economic growth, and strengthen the country’s pathway to net zero emissions by 2060.
The plan, unveiled in Abuja by the National Council on Climate Change, represents a significant step in Nigeria’s efforts to translate its climate commitments into concrete investment opportunities capable of attracting both domestic and international financing.
Developed under the NDC Partnership’s “Global Call for NDCs 3.0 and LT-LEDS,” the framework received technical support from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and funding from the German Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety through the International Climate Initiative.
The NZIP is expected to serve as a strategic roadmap for implementing Nigeria’s long-term climate agenda by identifying priority sectors for investment, outlining financing needs, and proposing mechanisms to bridge existing climate finance gaps.
Government officials said the initiative aligns with Nigeria’s broader economic transformation agenda and reinforces the country’s aspiration to emerge as a leading climate-responsive economy in Africa in line with the African Union Agenda 2063.
The investment framework builds on key national policies, including the Nigeria Agenda 2050, the Nationally Determined Contributions (NDCs), and the Long-Term Low-Emission Development Strategy (LT-LEDS), all of which provide the policy backbone for Nigeria’s transition toward sustainable and climate-resilient growth.
Under the LT-LEDS framework, Nigeria targets net zero greenhouse gas emissions by 2060, while the NDCs outline short- and medium-term actions under the Paris Agreement.
Speaking at the launch, Country Director of GIZ, Markus Wagner, described the NZIP as a critical instrument for transforming climate goals into bankable projects capable of attracting large-scale investment.
According to him, the framework goes beyond policy declarations by providing a structured mechanism for mobilising public and private capital toward climate resilience, low-carbon industrialisation, and sustainable economic development.
Wagner noted that achieving net zero emissions would require strong collaboration among government institutions, development partners, financial organisations, and the private sector.
He said the plan demonstrates Nigeria’s determination to align climate action with economic development priorities while creating opportunities for innovation, green jobs, and long-term sustainable growth across strategic sectors of the economy.
Analysts say the launch of the NZIP could improve investor confidence in Nigeria’s green economy ambitions and position the country to access increasing pools of global climate finance targeted at low-carbon and climate-resilient development initiatives.
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
Nigeria Reaffirms One-China Policy, Seeks Deeper Economic Partnership With Beijing
By: Michael Mike
The Nigeria-China Strategic Partnership (NCSP) has reaffirmed Nigeria’s unwavering commitment to the One-China Principle, describing the country’s position on Taiwan as settled, consistent and non-negotiable.
The reaffirmation comes amid renewed global attention on China’s insistence that the People’s Republic of China remains the sole legitimate government representing China, with Taiwan regarded by Beijing as an inseparable part of its territory.
According to the NCSP, Nigeria’s adherence to the One-China policy dates back more than five decades to the establishment of diplomatic relations with China in 1971, and has remained a cornerstone of bilateral relations between both countries.
The agency noted that Nigeria again demonstrated its commitment during President Bola Ahmed Tinubu’s meeting with President Xi Jinping in Beijing in 2024, where both nations issued a joint statement reaffirming Nigeria’s recognition of the People’s Republic of China as the only legal government representing the whole of China.
The NCSP said Nigeria also expressed support for China’s pursuit of national reunification during the high-level engagement.
The statement followed heightened diplomatic conversations surrounding the Taiwan issue after a recent visit to Beijing by a United States delegation reportedly led by President Donald Trump alongside leading American business executives.
Director-General of the NCSP, Joseph Tegbe, said Nigeria intends to build on its longstanding diplomatic ties with China to unlock broader economic opportunities in manufacturing, technology transfer, industrialisation and export-driven production.
Tegbe observed that China has played a major role in supporting Nigeria’s infrastructure development through investments in railway projects, ports, energy facilities, telecommunications and industrial expansion.
He stressed that the partnership should now evolve into deeper collaboration in Nigeria’s digital economy, solid minerals development, agro-processing and consumer markets in order to create a more balanced and productive economic relationship.
The NCSP reiterated its commitment to expanding bilateral cooperation between Nigeria and China across trade, infrastructure, investment, technology transfer and capacity building, with the ultimate objective of delivering measurable economic benefits to Nigerians.
Nigeria Reaffirms One-China Policy, Seeks Deeper Economic Partnership With Beijing
NDLEA Busts Mega Nigerian-Mexican Meth Syndicate, Seizes N480bn Drugs in Largest Lab Raid Ever
By: Michael Mike
The National Drug Law Enforcement Agency has dismantled what officials described as one of the most sophisticated transnational drug syndicates ever uncovered in Nigeria, arresting a notorious drug baron, three Mexican methamphetamine experts, and six Nigerian collaborators in a sweeping operation spanning Ogun and Lagos states.
The operation also led to the discovery and destruction of what the agency called the largest clandestine methamphetamine laboratory ever found in the country, hidden deep inside a forest in Ijebu area of Ogun State.
Chairman and Chief Executive Officer of the NDLEA, Mohamed Buba Marwa, disclosed the details on Wednesday during a media briefing at the agency’s headquarters in Abuja, describing the raid as a major blow against transnational organised crime and illicit drug manufacturing networks operating in Nigeria.
According to Marwa, elite operatives from the agency’s Special Operations Unit executed coordinated strikes across Ogun and Lagos within 48 hours after months of intelligence gathering and surveillance.
He said the primary target was a remote property located inside Abidagba forest in Ijebu East Local Government Area of Ogun State, allegedly operated by a drug trafficking organisation headed by suspected kingpin, Anochili Innocent.
Marwa revealed that operatives stormed the forest laboratory on May 16, catching members of the cartel while processing illicit substances.
Among those arrested were three Mexican nationals identified as methamphetamine production specialists allegedly brought into Nigeria to run the operation. They were named as Martinez Felix Nemecto, Jesus López Valles, and Torrero Juan Carlos.
Four Nigerian collaborators arrested at the laboratory were identified as Nwankwo Sunday Christian, Igwe Abuchi Remijus, Ifeanyichukwu Chibuike Joshua, and Egwuonwu Uchenna Victor.
Simultaneously, another tactical team raided the Lekki residence of the alleged cartel leader at Golf Estate, Lakowe, Lagos, where Anochili was arrested.
Marwa said a search of the property uncovered the passports and mobile phones of the three Mexican suspects, linking the alleged drug baron directly to the importation and coordination of foreign methamphetamine specialists.
The NDLEA boss disclosed that follow-up operations on May 18 led operatives to another property linked to the suspect at Mayfair Estate, Lakowe, where another alleged syndicate member, Kingsley Orike Omonughwa, was arrested.
Investigators also stormed the residence of another suspected collaborator, Emeka Nwobum, said to have operated a strategic stash house for the cartel.
The arrests brought the total number of suspects in custody to 10, including the kingpin, the Mexican specialists, and six Nigerian collaborators.
Marwa said the operation yielded an unprecedented 2,419.48 kilograms of chemical substances, including crystallised and liquid methamphetamine as well as dangerous precursor chemicals and industrial solvents.
He estimated the international street value of the seized narcotics at 362.9 million dollars, equivalent to over N480 billion.
According to him, the volume of drugs recovered represented millions of potential street doses capable of fueling addiction, violence, and organised crime across local and international markets.
The agency also recovered operational vehicles including a Toyota Tacoma allegedly used at the forest laboratory and a Toyota Highlander seized from the cartel leader’s residence.
Marwa warned that Nigeria would remain hostile territory for drug cartels and foreign criminal networks attempting to establish manufacturing bases in the country.
“We are fully aware of the shifting tactics of these cartels, including the disturbing trend of hiring South American cartel specialists to set up production factories in our rural communities,” he said.
“No matter how deep into the bush you hide, no matter how secure your gated estate is, the NDLEA will hunt you down, dismantle your network, and seize your illicit wealth.”
The NDLEA chairman also linked the latest operation to the recent takedown of another international drug trafficking network allegedly headed by Simon Amadi, saying the agency was intensifying cooperation with global law enforcement partners to combat organised narcotics operations.
He commended operatives of the Special Operations Unit and the agency’s chemical and forensic teams for what he described as exceptional professionalism and bravery during the operation.
Marwa also urged Nigerians to remain vigilant and report suspicious activities, warning that the Ogun forest laboratory had operated under the guise of a legitimate farm.
NDLEA Busts Mega Nigerian-Mexican Meth Syndicate, Seizes N480bn Drugs in Largest Lab Raid Ever
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
Nigeria Reaffirms One-China Policy, Seeks Deeper Economic Partnership With Beijing
NDLEA Busts Mega Nigerian-Mexican Meth Syndicate, Seizes N480bn Drugs in Largest Lab Raid Ever
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