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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, China May Head for Diplomatic Row Over Shooting of Immigration Officer at Chinese Firm

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Nigeria, China May Head for Diplomatic Row Over Shooting of Immigration Officer at Chinese Firm

By: Michael Mike

Nigeria is not taking lightly the shooting of an immigration officer at a Chinese firm in Jos, Plateau State.

The Minister of Interior, Hon. Olubunmi Tunji-Ojo who narrated the story,
The federal government has threatened a serious diplomatic row with the Republic of China over maltreatment of a Nigerian Immigration Service officer shot by a Chinese company in Nigeria for asking for the company’s expatriate list.

Minister of Interior, Hon. Olubunmi Tunji-Ojo, who narrated the story on Thursday in Abuja at a stakeholders sensitisation workshop on the implementation of the Nigeria Visa policy 2025, said Nigeria is not handling the matter with kid gloves as it would be taken up as a diplomatic issue.

Tunji-Ojo lamented that the development alone is an attack on Nigeria. It will never be condoned.

He said the Immigration officer, who was on official duty, had visited the Chinese company in Jos, Plateau state, to check the list of the company’s expatriates, but the owner of the company ordered a security officer in the premises to shoot the government official.

Tunji-Ojo said: “I won’t go to China as a Nigerian, open a company and tell my security to shoot a government official in uniform. It’s never done anywhere in the world.

“These officers put their lives on the line. These officers serve this country with their all. And you will not come from anywhere and ask them to shoot them in their fatherland.

“It will no longer happen. We will take it up with you. Because that company, we (Nigerian government) have the power to withdraw their business permit Nigeria and declare them illegal.”

He wondered how it had become an offence for an Immigration officer to visit a foreign company and demand to see their expatriate list.

He said: “It will not happen again. So we’re going to be very hard. We will not stop your business. We will not overburden your business. But don’t make us inferior in our own land. No, please.

“And we’re going to be very tough on this. Because talking to you, I’m not just talking with passion on this topic, I’m talking with a lot of anger, because that guy that was shot is a Nigeria that we all swore to protect by virtue of the laws of Nigeria, by the constitution. That Immigration guy was not shot by a terrorist, is a father, he is a son to somebody. He is a husband to somebody. That cannot happen anywhere in the world.

“We will not tolerate it. Please, no agent, no company is above the law,” the Minister declared

Nigeria, China May Head for Diplomatic Row Over Shooting of Immigration Officer at Chinese Firm

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Nigeria Explores CNG Technology to Power Defence, Industrial Vehicle Fleets

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Nigeria Explores CNG Technology to Power Defence, Industrial Vehicle Fleets

By: Michael Mike

The Minister of Foreign Affairs, Amb. Yusuf Tuggar has led a high-level delegation on a tour of UROVESA—a renowned Spanish manufacturer of military and industrial vehicles.
The visit focused on exploring potential collaboration in Compressed Natural Gas (CNG) technology for powering Nigeria’s defence and industrial vehicle fleets.

The minister was accompanied on the visit by key figures including the Minister of State for Petroleum Resources, Ekperikpe Ekpo; Presidential CNG Initiative representative, Engr. Michael Oluwagbemi; Engr. Henry Oki; and the Special Assistant for Gas Business and Investment to the Minister of State for Petroleum Resources (Gas), where they all engaged in detailed discussions with UROVESA executives.

During the visit, Tuggar emphasized the longstanding trade ties between Nigeria and Spain, noting that Spain remains one of Nigeria’s top trading partners, with Nigerian crude oil exports reaching $3.64 billion in 2023.

He lauded UROVESA’s innovative approach to producing all-terrain, armoured, tactical, and logistical vehicles, and expressed Nigeria’s growing interest in and implementation of CNG-powered solutions.

Tuggar also highlighted Nigeria’s business-friendly economic reforms under President Bola Ahmed Tinubu’s administration, which have positioned the country as a prime destination for investment in clean energy technologies. The discussions provided a valuable platform for further exploration of future collaborations between UROVESA and Nigeria’s Ministry of State for Petroleum Resources (Gas) in CNG-powered vehicle production and supply.

According to a statement by the foreign affairs minister spokesman, Alkasim AbdulKadir, the engagement not only reinforced Nigeria’s commitment to a green energy future but also laid the groundwork for modernizing the nation’s defence and industrial fleets with environmentally friendly and cost-effective energy solutions.

He said the promising outcome of the discussions sets the stage for a strategic partnership that is expected to foster sustainable innovation and drive economic growth for both Nigeria and UROVESA.

Nigeria Explores CNG Technology to Power Defence, Industrial Vehicle Fleets

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ECOWAS Hands Over Drug Rehabilitation Centre to Aminu Kano Teaching Hospital

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ECOWAS Hands Over Drug Rehabilitation Centre to Aminu Kano Teaching Hospital

By: Michael Mike

The Economic Community of West African States (ECOWAS) has handed over a drug rehabilitation center to Aminu Kano Teaching Hospital in North West Nigeria to enhance drug related treatments.

Handing over the facility, the Director Humanitarian and Social Affairs, ECOWAS Dr. Sintiki Tarfa Ugbe, represented by Head of ECOWAS Drug Prevention and Control Division Dr. Daniel Amankwaah expressed the commitment of ECOWAS in fostering regional cooperation and providing technical and financial assistance to member states in tackling substance abuse.

He explained that, the renovated and equipped facility stands as a symbol of ECOWAS shared responsibility to protect public health, promote human dignity, and offer a second chance to those struggling with drug dependence.

He said: “As ECOWAS officially hand over this facility which was funded through ECOWAS own resources, we reaffirm our commitment to expanding access to quality drug treatment services and strengthening the resilience of our communities across West Africa.”

According to him, the ECOWAS Commission, under its drug prevention and control programme launched the support to its Member States to build or renovate their drug treatment centres.

He said: “the project targets all Member States to have at least one national drug treatment centre. So far, 8 centres in 6 Member States have been completed. Additional 12 centres are currently at various stages of construction. In Nigeria, 4 centres have been completed and additional 3 are at various stages.”

He expressed confidence that, the the facility will contribute to improving social functioning, by reducing the harmful effects of substance use, and enhancing the quality of life for people who use Drugs (PWUDs).

The Chief Medical Director Aminu Kano Teaching Hospital (AKTH), Professor Abdurrahman Abba -Sheshe while thanking ECOWAS for the projects, described drug addiction and substance abuse as a pandemic that requires the support of the regional body.

He expressed confidence that, the well equiped facility will transform lives of addicts.

“I commend the NDLEA for their efforts in the fight against drug abuse not only in Kano state but the entire country. It requires all to achieve the desired results.”

The Commander of Narcotics National Drugs Laws Enforcement Agency NDLEA Kano State Ahmad Idris, informed the gathering that, the Kano command successfully counseled and rehabilitated over 100 in clients in 2024 representing a 43% increase from 2023 with significant increase in the campaigns against drug abuse

He noted that, the intensified War Against Drug Abuse WADA activities have contributed to the growth in the rate of client counseling.

“As ECOWAS continues to work towards its vision of a united, prosperous West Africa, its efforts in combating drug addiction will be critical in creating a brighter, healthier future for the region.”

ECOWAS Hands Over Drug Rehabilitation Centre to Aminu Kano Teaching Hospital

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