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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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President Tinubu Storms Jos Today To Commiserate With Residents Of Angwa Rukuba Massacre

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President Tinubu Storms Jos Today To Commiserate With Residents Of Angwa Rukuba Massacre

By: Bodunrin Kayode

President Bola Tinubu will today visit the Plateau state capital Jos to commiserate with residents who lost loved ones during the Palm Sunday shooting spree by criminals that took place at Angwa rukuba area of the city.

The President who was scheduled to visit Ogun state postponed his scheduled trip to Iperu, meant to flag off operations at the Gateway International Cargo Airport.

From the Plateau, the President is expected to travel to Lagos to observe Good Friday public holiday which ushers the beginning of the Easter public holiday which rounds up the lent period.

A state house release signed yesterday by the Presidential spokesman Bayo Onanuga noted that President Tinubu will travel to Ogun State for the commissioning of the Cargo Airport and the inauguration of two commercial aircrafts for the export and import of goods, aimed at boosting the state’s economic growth on Saturday April 4th.

“He will also inaugurate the new edifice of the Federal Operations Unit of the Nigerian Customs Service and its operational vehicles.

“He will return to Lagos to continue the Easter holiday, during which he is also expected to commission infrastructural projects undertaken by the administration of Governor Babajide Sanwo-Olu.

“These projects include: the iconic Ojota/Opebi Link Bridge; the Lagos State Geographic Information System Building; the Multi-Agency Complex named after the President, and a school Complex.

“Before returning to Abuja, President Tinubu will visit Bayelsa State on April 10 to commission some of Governor Duoye Diri’s completed projects.” Said the release.

Sadly several residents lost their lives during the black Palm Sunday shooting spree which is suspected to have been carried out by auto bike riding bandits following after their patterns in the hinterlands of the state.

These bandits who had tormented, killed and destroyed homes of residences of the Jos north axis of the state for several years after September 7th 2001

This damnation let loose on innocent residents is resurfacing after hundreds of killings had occurred in the Jos North council area of the state from September 7th 2001 till date.

And because of the myriad of challenges creeping into the federal security system sub regionals have geared up to manage their on police and Intel services which would assist greatly because they are masters of their territories.

The Federal government is fast tracking the process of state police to ensure that each sub nationals take charge of their environment to ensure that they support the center in the maintenance of internal security.

President Tinubu Storms Jos Today To Commiserate With Residents Of Angwa Rukuba Massacre

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NiMet predicts 107 to 138 days of rainfall in Gombe

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NiMet predicts 107 to 138 days of rainfall in Gombe

The Nigerian Meteorological Agency (NiMet) has said that in 2026, the length of the rainy season in Gombe State is expected to be between 107 and 138 days.

This is contained in the Agency’s 2026 Seasonal Climate Prediction (SCP) document, which Gayus Musa, the meteorological manager for Gombe State, made available to Our Correspondent in Gombe on Tuesday.

The total amount of rainfall across Gombe State in 2026 is predicted to be between 701 mm in the northern part of the state (Nafada) and 1089 mm in the South (Shongom).

The onset of the rainfall is expected to commence in the state on May 29 (Shongom) and cease by October 22 (Yamaltu/Deba).

Similarly, in the prediction, four local government areas of the state, namely: Nafada, Yamaltu/Deba, Dukku and Funakaye were likely to be impacted by a severe dry spell (21 days and above) between June and August.

Musa while speaking to Our Correspondent on the first rainfall experienced in some communities in Akko, Gombe and Yamaltu/Deba Local Government Areas of the state on Monday urged farmers to resist the temptation of early planting of crops.

He described the first rain as false onset, explaining that the rainfall was false because it would not support any germination as seeds planted with such rain would not survive.

“This (first rain) is a false onset because the precipitation cannot carry any germination and so any seed planted would not survive.

“So farmers should not engage themselves in planting but to prepare their farmlands while getting their seeds and other inputs ready,” he said.

Musa advised farmers in the state, to make use of the prediction in carrying out farming activities towards avoiding losses in view of the impact of climate change on agriculture.

He further urged relevant authorities in the state to take proactive measures towards tackling environmental issues associated with the rainy season.

NiMet predicts 107 to 138 days of rainfall in Gombe

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Tuggar Resigns from Tinubu’s Cabinet, Sets for Bauchi Governorship

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Tuggar Resigns from Tinubu’s Cabinet, Sets for Bauchi Governorship

By: Michael Mike

The rumoured interest of Minister of Foreign Affairs, Ambassador Yusuf Tuggar in becoming the governor of Bauchi State come 2027 may have been confirmed he resigned on Monday to prepared ground for actualization of his political ambition.

The resignation was ahead of the deadline set for political appointees seeking elective positions in the forthcoming general elections.

In a resignation letter submitted to the office of the Secretary to the Government of the Federation, Tuggar expressed profound gratitude to President Bola Ahmed Tinubu for the opportunity to serve the country and contribute to the implementation of the administration’s Four-D foreign policy strategy.

The former minister also appreciated the management and staff of the Ministry of Foreign Affairs and members of the diplomatic community for their cooperation and support throughout his tenure.

During his time in office, Tuggar was credited with advancing Nigeria’s foreign policy objectives through initiatives focused on people-centred diplomacy. These included humanitarian evacuations, facilitation of scholarships for Nigerians abroad, and sustained support for citizens in the diaspora.

His tenure also witnessed increased diaspora engagement, including efforts to develop a structured database of Nigerians living abroad aimed at strengthening their participation in national development.

In addition, Tuggar strengthened bilateral and multilateral relations through strategic engagements with traditional partners and regional alliances, particularly across the Global South. His leadership also promoted regional security cooperation and supported the formation of the Regional Partnership for Democracy initiative.

He also prioritised economic diplomacy, positioning Nigeria as an attractive destination for foreign investment, especially in the energy sector, while facilitating diplomatic interventions that secured the release of detained Nigerians in foreign countries and improved bilateral relations.

The resignation letter was received on behalf of the Secretary to the Government of the Federation by Dr. Abubakar Kana, Permanent Secretary, General Services Office, ahead of the March thirty-first deadline directed by President Tinubu in line with provisions of the Electoral Act.

Tuggar’s resignation was conveyed in a statement issued by his Special Assistant on Media and Communications Strategy, Alkasim Abdulkadir.

Tuggar Resigns from Tinubu’s Cabinet, Sets for Bauchi Governorship

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