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FG Announces Plans To Formalize 1m Businesses At Discounted Rate

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FG Announces Plans To Formalize 1m Businesses At Discounted Rate

  • As national MSME awards holds June 27
  • Tinubu bent on eliminating bottlenecks affecting the MSME space, Says VP Shettima

By: Our Reporter

The federal government has announced plans to formalize one million businesses across Nigeria at a discounted rate.

Vice President Kashim Shettima disclosed this on Tuesday when he launched the Expanded National MSME Clinic in Makurdi, the Benue State capital, marking the first stop on a nationwide journey to empower small and medium-sized businesses.

MSME Clinic, the first of its kind under the President Bola Ahmed Tinubu administration, aims to empower micro, small, and medium enterprises (MSMEs) by breaking down barriers and providing crucial resources.

Benue’s pioneership of the MSME Clinic sets the stage for a nationwide rollout scheduled to traverse Ebonyi, Ogun, Delta, Kaduna, Borno, Katsina States and the Federal Capital Territory (FCT) in a meticulously planned itinerary for the first half of 2024.

This will culminate in the National MSME Awards, a fitting celebration of entrepreneurial spirit coinciding with World MSME Day, on June 27, 2024 in Abuja.

Addressing a mammoth crowd of entrepreneurs and stakeholders at the Ibrahim Badamosi Babangida (IBB) square in Makurdi, VP Shettima emphasised the federal government’s commitment to creating a thriving MSME ecosystem.

He acknowledged the crucial role MSMEs play in job creation and economic development, even as he pledged government’s unwavering support to empower them.

“We have everything to guide your ambition,” Senator Shettima assured while delivering his speech titled, “Benue State: Nurturing Enterprises, Embracing Prosperity.”

Stating that his principal, President Tinubu, is committed to resolving the bottlenecks affecting the MSME space in Nigeria and will persist until these issues are resolved, the VP noted that the N75 billion loan scheme from Bank of Industry (BOI) and Access Bank’s discounted N50 billion fund offer is already in place as crucial financial support for entrepreneurs.

He said, “We currently have in place a N75 billion 9% single-digit loan from BOI. Additionally, Access Bank has made N50 billion of their fund available to MSMEs at a discounted rate of 15%, which could significantly increase based on loan performance. Mr. President is committed to resolving the bottlenecks affecting the MSME space in Nigeria and will persist until these issues are resolved.”

The Vice President hailed the state’s industrious spirit and entrepreneurial drive, describing it as a “beacon of inspiration” for the entire country.

“This clinic isn’t just about fulfilling President Tinubu’s promise,” declared Shettima, adding that “it’s a tribute to Benue’s unmatched work ethic and entrepreneurial drive.”

Lauding the state’s dedication to agriculture, art and commerce, he pointed out that “these stand as a testament to the remarkable productivity ingrained within the core of Benue State.

“Every business owner in Benue, whether in Makurdi or Otukpo, Gboko or Katsina-Ala, is a priority,” he added.

Senator Shettima also announced plans by President Tinubu for a world-class fashion hub in Makurdi, dedicated to the state’s thriving tailoring cluster which, according to him, is set to be operational within 90 days.

“Now, hear another piece of good news from Mr. President: His Excellency, President Bola Ahmed, has unveiled the plan to establish a world-class fashion hub in Makurdi for use by small businesses in the tailoring cluster in the state. This hub will be ready in 90 days,” the Vice President stated.

Earlier in his address, the state Governor, Rev. Fr. Hyacinth Alia, declared that Benue State is open for business, just as he emphasized the state’s commitment to supporting and empowering small and medium-sized businesses (MSMEs) as a key driver of economic growth.

The Governor highlighted the diverse range of MSMEs thriving in Benue, from organic food producers like Andor Global Foods to innovative motorcycle builders and traditional attire weavers.

He also celebrated Aorkwagh Farms’ work in regenerative farming and the “Made in Benue” brand’s creativity as examples of the state’s entrepreneurial spirit.

Governor Alia who lauded their contributions to local agriculture, healthy living and cultural heritage however acknowledged the challenges faced by MSMEs, including insecurity, regulatory hurdles, and access to finance.

He assured participants that his administration was actively tackling these issues by streamlining processes, removing bottlenecks and enacting laws against extortion, including “matching ground.”

Also, Benue State Commissioner for Industry, Trade and Investment, Mr Orpin Alumo, noted that the MSMEs Clinic will mark the turning around of Benue State, moving it from a civil service state to an industrial state.

Other dignitaries at the MSME Clinic Launch included Deputy Governor of Benue State, Barr. Sam Ode; Secretary to the Government of the Federation, Senator George Akume; Speaker of the Benue State House of Assembly, Mr. Aondona Dajoh; Chief Judge of Benue State, Justice Maurice Ikpambese; members of the National and State Assemblies, and members of the State Executive and Security Council, among others.

The Vice President was joined at the event by heads of key agencies, including Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Nigerian Export Promotion Council (NEPC), Bank of Agriculture (BOA), Bank of Industry (BOI), Nigerian Export-Import Bank (NEXIM), National Agency for Food and Drug Administration and Control (NAFDAC), Industrial Training Fund (ITF), Corporate Affairs Commission (CAC), Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), National Information Technology Development Agency (NITDA), Federal Inland Revenue Service (FIRS), Standard Organisation of Nigeria (SON) and National Sugar Development Council (NSDC).

The clinic also promises immediate access to working capital, formalization assistance through the CAC, and export guidance from NEPC. Agencies like NAFDAC and SON were present at the launch to facilitate product certification, while FIRS offers tax advisory services.

VP Visits IDP Camp, Promises More Humanitarian Aid, Skills Development

Meanwhile, Vice President Shettima took time in the state and visited the Ichwa IDP camp in Makurdi, offering solace and support to those displaced by conflict.

He met with families, listened to their stories of loss and displacement and assured them of President Tinubu’s unwavering commitment to their well-being.

The VP promised continued humanitarian aid, explored avenues for skills development and livelihood opportunities within the camp, pledging to expedite the process of safe resettlement.

FG Announces Plans To Formalize 1m Businesses At Discounted Rate

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Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja

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Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja

By: Michael Mike

Nigeria has taken a significant step onto the global stage with the launch of the world’s first International Media and Information Literacy Institute (IMILI), a landmark initiative developed in partnership with United Nations Educational, Scientific and Cultural Organisation (UNESCO).

The institute was officially unveiled on Wednesday in Abuja by the Federal Ministry of Information and National Orientation, positioning Nigeria at the forefront of global efforts to strengthen media literacy, combat misinformation, and promote critical thinking in an increasingly complex digital age.

The establishment of IMILI marks a historic milestone not just for Nigeria, but for Africa and the international community, as it becomes the first UNESCO Category 2 Institute globally dedicated solely to Media and Information Literacy (MIL).

Speaking at the launch, UNESCO Assistant Director-General for Communication and Information, Mariya Gabriel, described the institute as a timely and transformative response to one of the defining challenges of the modern era — ensuring that access to information translates into informed, responsible, and empowered societies.

“In a world where the volume of information continues to grow exponentially, the ability to distinguish between reliable and misleading content has become essential,” she said.

IMILI is expected to serve as a global hub for research, innovation, and capacity development in media literacy. It will provide training for educators, policymakers, media professionals, and young people, equipping them with tools to critically engage with information, counter misinformation, and actively participate in democratic processes.

The institute will also support curriculum development, foster international collaboration, and connect Nigeria to a global network of expertise, reinforcing Media and Information Literacy as a universal public good.

UNESCO commended the leadership of President Bola Ahmed Tinubu for his vision and commitment in bringing the initiative to fruition. It also acknowledged the pivotal role played by the Minister of Information and National Orientation, Mohammed Idris Malagi, whose strategic leadership was described as instrumental in advancing the media literacy agenda in Nigeria.

The organisation further recognised contributions from key stakeholders, including the Nigerian National Commission for UNESCO, the UNESCO Abuja Office, and Nigeria’s Permanent Delegation to UNESCO, whose collaborative efforts ensured the successful establishment of the institute.

By hosting IMILI, Nigeria is sending a strong signal that Africa is not only responding to the challenges of the digital age but is actively shaping global solutions. With its vibrant media landscape, youthful population, and expanding digital ecosystem, the country is seen as uniquely positioned to lead this transformative agenda.

Beyond its institutional significance, the launch of IMILI represents a broader commitment to empowering citizens — not just to access information, but to understand, question, and use it responsibly.

As the institute begins operations, it is expected to serve as a catalyst for strengthening trust, promoting informed decision-making, and advancing democratic values across Nigeria, Africa, and the wider world.

Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja

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China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity

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China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity

By: Michael Mike

The Government of China on Tuesday officially handed over the newly constructed headquarters complex of the Economic Community of West African States in Abuja, in a ceremony marked by strong appeals for unity, deeper integration, and renewed commitment to regional cooperation across West Africa.

The event brought together senior government officials, diplomats, and regional leaders, with speakers consistently framing the project as more than infrastructure—describing it as a strategic symbol of partnership, vision, and collective ambition for the sub-region.

President of the ECOWAS Commission, Omar Alieu Touray, described the occasion as a historic milestone, noting that it coincides with the bloc’s 50th anniversary.

“Today marks an important day for ECOWAS and we should all be glad to be witnesses to this momentous occasion marking the official handover of the New ECOWAS Headquarters Complex to the Commission,” he said, adding that the development comes at an opportune time in the organisation’s integration journey.

Touray clarified that the ceremony represents the completion and handover of the building, while the formal inauguration will take place later in the year. The commissioning is expected to be led by Sierra Leone’s President, Julius Maada Bio, in his capacity as Chairman of the ECOWAS Authority, alongside Nigeria’s President, Bola Ahmed Tinubu, and other heads of state.

Reflecting on the project’s origins, he recalled that the groundbreaking took place in October 2023 with funding support from China amounting to approximately $56.57 million.

“As you may recall, back in October 2023, we convened here for the groundbreaking ceremony of this complex… Today, two years after that initiation, we are gathered for the handover ceremony of this remarkable building,” he said.

Touray commended the speed and quality of delivery, noting: “Considering the time usually taken to complete infrastructure projects of this magnitude and complexity, the completion of this ECOWAS Headquarters Complex within two years is highly commendable and we should all applaud our Chinese brothers and sisters.”

He also extended appreciation to Chinese President Xi Jinping, represented by Ambassador Yu Dunhai, for what he described as a generous contribution to regional development, while acknowledging China’s broader support for ECOWAS peace and security operations, including assistance to the ECOWAS Standby Force.

Touray further thanked Nigerian authorities, including the FCT Minister Nyesom Wike, for their support in facilitating the successful execution of the project.

Chinese Ambassador Yu Dunhai, in his remarks, described the headquarters as a flagship project and a symbol of enduring China-Africa cooperation.

“This headquarter building stands as a milestone—it is China’s flagship aid project for ECOWAS and another headquarters for an international organization,” he said, comparing it to other major Chinese-supported institutional projects on the continent.

Affectionately called the “Eye of West Africa,” the ambassador said the structure was completed after “more than 1,200 days and nights of meticulous craftsmanship,” blending Chinese engineering expertise with West African cultural identity.

“The building harmonizes the excellence of Chinese architectural technique with the unique culture of West Africa,” he said, adding that it will strengthen ECOWAS’ operational capacity and serve as a platform for regional development.

Yu also situated the project within broader diplomatic context, noting that this year marks 70 years of China-Africa relations. He said China continues to support African modernization through initiatives such as the “Ten Partnership Actions,” expanded South-South cooperation frameworks, and zero-tariff access for African exports.

“We remain committed to a demand-driven approach that respects African autonomy and sovereignty, translating our support into tangible actions for Africa’s revitalization,” he said.

He reaffirmed China’s support for ECOWAS and praised its role in regional peace and integration, while also acknowledging Nigeria’s leadership in the partnership.

For Nigeria, the host nation, the project carries deep symbolic weight.

Minister of the Federal Capital Territory, Nyesom Wike, said the occasion represented far more than a physical handover.

“Today is not just about the handover of a building. Today marks the handover of a vision. A vision of partnership. A vision of regional solidarity. A vision of a West Africa that is prepared to build the institutions that will carry its future,” he said.

Wike described the headquarters as “more than concrete, steel, and glass,” calling it “a statement that cooperation still matters” and proof that diplomacy can still deliver tangible results.

He emphasized Abuja’s status as a diplomatic hub, noting: “Abuja is not only the seat of government; Abuja is the diplomatic capital of this nation, a meeting point of nations.”

He added: “Great institutions deserve worthy homes,” describing ECOWAS as a key expression of regional identity and hope.

Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, also framed the handover as a historic and symbolic moment.

“It is with profound honour and a deep sense of history that I stand before you today,” she said, describing the event as more than the commissioning of a building, but “the consolidation of a vision, a reaffirmation of unity, and a renewed commitment to peace and sustainable development.”

She highlighted ECOWAS’ role since 1975 in conflict prevention, peacekeeping, economic integration, and governance, stressing that the new headquarters would enhance institutional efficiency and coordination.

“This new Headquarters therefore symbolizes more than administrative convenience. It is a strategic asset that will enhance institutional effectiveness… and reinforce the capacity of the Commission to respond to emerging regional and global challenges,” she said.

Odumegwu-Ojukwu praised President Tinubu’s leadership in advancing regional integration and commended China for what she called a “remarkable gesture of goodwill,” adding that the project reflects “mutual respect, shared prosperity, and South-South cooperation.”

She also issued a strong call to member states:

“At a time when our region is confronted with complex challenges… our unity is not optional, it is imperative. We must continue to act in concert, speak with one voice.”

Across all speeches, a consistent message emerged: while the new headquarters represents a major infrastructural achievement, its true value will depend on the political unity and collective resolve of West African states.

As the ceremony concluded, leaders underscored that the building is not an end in itself, but a platform for the next phase of regional integration—one defined not by construction, but by cooperation.

China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity

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NDLEA, Customs Forge Alliance to Tackle Drug Trafficking

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NDLEA, Customs Forge Alliance to Tackle Drug Trafficking

By: Michael Mike

The National Drug Law Enforcement Agency (NDLEA) and the Nigeria Customs Service (NCS) have formalized a strategic partnership aimed at strengthening border security and combating drug trafficking across Nigeria.

The agreement was reached during a high-level meeting at the NDLEA headquarters in Abuja on Monday, where a joint communiqué was signed by NDLEA Chairman, Buba Marwa, and the Comptroller-General of Customs, Bashir Adewale Adeniyi.

Both agencies acknowledged the growing sophistication of transnational organized crime, stressing that a coordinated institutional response is essential to effectively disrupt illicit drug networks.

Under the new framework, NDLEA and Customs will enhance intelligence sharing through a secure and structured platform designed to enable early detection and prevention of criminal activities. The collaboration will also see the deployment of joint task forces at key operational points, including seaports, airports, and land borders.

The agreement further seeks to eliminate operational overlaps and reduce inter-agency friction by clearly defining roles and respecting each agency’s legal mandate. A Standing Inter-Agency Committee will also be established to promptly address disputes and ensure smooth coordination.

Speaking on the development, both Marwa and Adeniyi emphasized that the partnership represents a critical step toward strengthening Nigeria’s security architecture while maintaining the efficiency of legitimate trade operations.

They reiterated their commitment to professionalism, mutual respect, and national interest, noting that aligning the capabilities of both agencies would create a more effective barrier against the trafficking of illicit substances.

The collaboration is expected to significantly boost enforcement efficiency at Nigeria’s entry and exit points, reinforcing ongoing efforts to curb drug-related crimes and safeguard public safety.

NDLEA, Customs Forge Alliance to Tackle Drug Trafficking

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