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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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Tinubu Approves Up to 80% Salary Increase for Armed Forces Personnel

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Tinubu Approves Up to 80% Salary Increase for Armed Forces Personnel

By Zagazola Makama

President Bola Ahmed Tinubu has approved a new salary structure for personnel of the Nigerian Armed Forces, with increases ranging from 30 to 80 per cent, in a major welfare package aimed at boosting the morale of troops engaged in counter-insurgency and other internal security operations.

According to a statement issued on Tuesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, about 250,000 military personnel will benefit from the new salary adjustment, which takes effect from Sept. 1, 2026.

Under the approved structure, officers above the rank of colonel—including Brigadier Generals, Major Generals, Lieutenant Generals and Generals—will receive a 30 per cent salary increase.

Personnel from the rank of Colonel down to Warrant Officer will enjoy a 50 per cent increase, while soldiers from the rank of Private to Staff Sergeant will receive the highest adjustment of 80 per cent.

The new package will raise the annual personnel cost of the Armed Forces from ₦660 billion to ₦924 billion, reflecting the Federal Government’s renewed commitment to improving troop welfare.

President Tinubu said the decision was in recognition of the courage and sacrifices of members of the Armed Forces in confronting terrorism, banditry, kidnapping and other security challenges across the country.

“The men and women who help to keep us safe in our homes must be supported and appreciated in the course of their duties to our nation,” the President said.

He reaffirmed his administration’s commitment to prioritising troop welfare while modernising the Armed Forces through the provision of modern weapons, equipment and technological capabilities needed to effectively carry out their constitutional responsibilities.

According to the President, security remains the foundation for national development, stressing that his administration would continue to mobilise military and law enforcement assets to eliminate threats and safeguard the lives and property of Nigerians.

“I urge our servicemen to take our gesture as a sign of our deep appreciation of the services they render to our fatherland. Together we shall prevail over the enemies intent on destroying the fabric of our nation,” Tinubu said.

The salary review is expected to provide a significant boost to the welfare of military personnel serving in various theatres of operation across the country, including those engaged in counter-terrorism, anti-banditry and peace support missions.

Tinubu Approves Up to 80% Salary Increase for Armed Forces Personnel

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Turkey Deepens Military Partnership with Somalia Amid Shifting Regional Security Dynamics

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Turkey Deepens Military Partnership with Somalia Amid Shifting Regional Security Dynamics

By Zagazola Makama

Turkey is significantly expanding its military partnership with Somalia, reinforcing its position as one of Mogadishu’s most important security allies at a time of growing uncertainty over the future of international stabilization efforts and increasing pressure from Western partners to sustain the fight against Al-Shabaab.

The latest developments point to a broader strategic realignment in Somalia’s security architecture, with Ankara deepening its involvement in the country’s defense sector through expanded military training, operational support, and institutional reforms aimed at building a self-reliant Somali National Army (SNA).

The renewed cooperation signifies Somalia’s effort to develop integrated land, air, and naval capabilities capable of independently confronting insurgent threats and securing the country’s vast territory and coastline.

Security sources familiar with the development said the Somali government has accelerated plans to build a unified defense structure operating across multiple regions, reflecting a long-term strategy to reduce dependence on foreign peacekeeping forces.

The initiative includes strengthening command structures, improving force mobility, enhancing intelligence coordination, and developing specialized units capable of responding to evolving threats posed by Al-Shabaab.

The move comes as uncertainty continues to surround the future role of the African Union Support and Stabilization Mission in Somalia (AUSSOM), which replaced the African Union Transition Mission in Somalia (ATMIS) but continues to face operational and funding challenges. Officials believe Somalia must increasingly rely on its own security institutions if recent gains against extremist groups are to be sustained.

Demonstrating the growing defense relationship, Commander of the Somali National Army, Brig. Gen. Ibrahim Mohamed Mohamud, recently arrived in Baidoa alongside the Commander of TurkSom, Gen. Sebahattin Kalkan.

The joint visit is being viewed as more than a routine inspection. Military analysts say it underscores Ankara’s continued commitment to Somalia’s security sector reforms and reflects close coordination between Turkish military advisers and Somali commanders on future operational planning.

Turkey has played a central role in training thousands of Somali soldiers through the TurkSom Military Training Centre in Mogadishu, one of Ankara’s largest overseas military facilities.

The partnership has evolved beyond basic military instruction to include leadership development, logistics, force modernization, and institutional capacity building.

The renewed Turkish engagement comes against the backdrop of sustained pressure from Somalia’s Western partners to intensify military operations against Al-Shabaab.

Only days earlier, Commander of the United States Africa Command (AFRICOM), Gen. Dagvin R.M. Anderson, urged Somali authorities to maintain relentless pressure on the extremist group and prevent it from regaining territory.

His remarks reflected Washington’s continued commitment to supporting Somalia’s counterterrorism campaign through intelligence sharing, training, and precision operations against Al-Shabaab leadership.

The United States has continued to conduct targeted strikes and provide military assistance to Somali security forces, viewing Al-Shabaab as one of Africa’s most resilient jihadist organizations and a continuing regional security threat.

The evolving security environment has also pointed to the emergence of parallel defense partnerships across Somalia.

In recent weeks, AFRICOM concluded a bilateral security cooperation arrangement with Puntland authorities, demonstrating Washington’s engagement with regional administrations alongside the Federal Government.

These parallel relationships illustrate the increasingly complex network of international security actors operating in Somalia, where Turkey, the United States, the African Union, and other partners are simultaneously supporting different aspects of the country’s security architecture.

While Ankara focuses heavily on force generation, training, and institutional development, Washington continues to emphasize counterterrorism cooperation and operational support against Al-Shabaab.

Despite differences in approach, both Turkey and the United States share the broader objective of preventing Al-Shabaab from reversing military gains made by Somali forces over recent years.

The expansion of military cooperation with Turkey represents part of a wider strategy to build sustainable national defense capabilities capable of eventually assuming full responsibility for the country’s security.

As debates continue over the future of AUSSOM and international funding for stabilization missions, the emphasis on strengthening indigenous military institutions is expected to become increasingly central to Somalia’s long-term security planning.

The success of these reforms will largely determine whether Somali forces can maintain operational momentum against Al-Shabaab and secure areas recovered from insurgent control without prolonged dependence on foreign peacekeeping missions.

Turkey Deepens Military Partnership with Somalia Amid Shifting Regional Security Dynamics

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ECOWAS Chief Bids Benin Farewell with Unity Message on 66th Independence Anniversary

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ECOWAS Chief Bids Benin Farewell with Unity Message on 66th Independence Anniversary

By: Michael Mike

The President of the ECOWAS Commission, Dr. Omar Alieu Touray, has paid a glowing tribute to the Republic of Benin on the occasion of its 66th Independence Anniversary, reaffirming the regional body’s commitment to solidarity, integration and shared prosperity in West Africa.

In what is seen as one of his final symbolic gestures before the end of his tenure, Dr. Touray extended warm congratulations to the government and people of Benin, describing the country as a steadfast pillar of regional cooperation and democratic governance within the Economic Community of West African States (ECOWAS).

The ECOWAS Commission President acknowledged Benin’s longstanding contributions to regional peace, political stability and economic integration, noting that the country’s commitment to the ideals of the bloc has strengthened cooperation among member states.

He reaffirmed ECOWAS’ determination to continue working closely with Benin in advancing regional integration, promoting sustainable development and addressing the common challenges confronting West Africa.

Dr. Touray’s message comes at a significant moment as he prepares to leave office, making the goodwill message not only a congratulatory note but also a symbolic reaffirmation of the enduring partnership between ECOWAS and one of its founding member states.

The Commission’s tribute underscored the importance of unity and collective action as West Africa confronts security threats, economic pressures and political transitions, stressing that closer cooperation remains essential to achieving lasting peace and prosperity across the sub-region.

Benin marked its 66th Independence Anniversary with celebrations reflecting on its post-independence journey and renewed commitment to democratic governance and national development.

The ECOWAS message highlighted the organisation’s resolve to deepen collaboration with the Beninese authorities and people in pursuit of the Community’s vision of an integrated, peaceful and prosperous West Africa.

ECOWAS Chief Bids Benin Farewell with Unity Message on 66th Independence Anniversary

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