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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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NDLEA Launches Alternative Development Project to Shift Cannabis Growers to Legal Farming

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NDLEA Launches Alternative Development Project to Shift Cannabis Growers to Legal Farming

By: Michael Mike

The National Drug Enforcement Agency (NDLEA) has launched an Alternative Development Pilot Project aimed at ending illicit cannabis cultivation by providing affected communities with sustainable and legal livelihood options.

The initiative was unveiled on Tuesday in Akure, Ondo State, at a town hall meeting attended by national stakeholders, international development partners, traditional rulers and community leaders.

The project is designed to replace illicit drug farming with profitable food and cash cropu production, while reducing drug-related insecurity.

Speaking at the event, NDLEA Chairman and Chief Executive Officer, Brigadier General Buba Marwa (retd), said the programme represents a shift from confrontation to cooperation between law enforcement and farming communities involved in illicit crop cultivation.

According to Marwa, the Alternative Development Project will help break the long-standing cycle of poverty, insecurity and environmental damage associated with cannabis farming, while supporting Nigeria’s food security goals under President Bola Tinubu’s Renewed Hope Agenda.

He explained that drug cultivation often benefits criminal networks rather than host communities, leaving behind degraded farmland and social instability. “The kingpins prosper elsewhere, while the farmers are left with poverty and insecurity,” Marwa said, adding that the new approach prioritises empowerment over enforcement.

The NDLEA boss stressed that participation in the programme is voluntary and targeted only at communities willing to abandon illicitu cultivation. He assured residents that the initiative is not a trap to arrest farmers, but a genuine effort to help them transition to lawful agriculture.

Marwa noted that alternative crops such as Artemisia annua, which has medicinal and commercial value, could generate higher income than cannabis while contributing to public health and economic growth.

The Ondo State Governor, Dr. Lucky Ayedatiwa, welcomed the pilot project and pledged the full support of his administration. He said the state government would provide land, seedlings and other agricultural inputs to ensure the success of the initiative.

Ayedatiwa also urged young people to reject drug abuse and embrace legitimate opportunities offered through the programme, describing youths as key drivers of development.

International partners, including the United Nations Office on Drugs and Crime (UNODC) and development agencies from Europe, expressed support for the project, which aligns with global best practices on crop substitution and sustainable livelihoods.

Traditional rulers in the state also backed the initiative. Speaking on their behalf, the Olowo of Owo Kingdom and Chairman of the Ondo State Council of Traditional Rulers, Oba Ajibade Gbadegesin Ogunoye III, called on youths to embrace the programme, warning of the social and legal consequences of drug cultivation.

The Alternative Development Pilot Project will begin in three communities in Ondo State, after which its impact will be assessed and recommendations made to the Federal Government for nationwide expansion.

NDLEA Launches Alternative Development Project to Shift Cannabis Growers to Legal Farming

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VP Shettima To Launch Fresh Women, Youth, Children Learning, Empowerment Fund

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VP Shettima To Launch Fresh Women, Youth, Children Learning, Empowerment Fund

… As Nigeria co-hosts Africa Social Impact Summit, policy engagement in Abuja

By: Our Reporter

All is set for the Vice President, Senator Kashim Shettima, to launch a fresh learning fund and empowerment platform targeted at unlocking the potential of Nigerian children, women, and youth.

The event is billed to hold on Wednesday, January 28, 2026, at the State House Conference Centre, Abuja.

This initiative, convened by the Office of the Vice President in collaboration with Sterling One Foundation, the United Nations System, and other ASIS partners, will form part of the outcomes of the Africa Social Impact Summit (ASIS) 2026 High-Level Policy Engagement.

ASIS is a premier platform for accelerating progress on the Sustainable Development Goals (SDGs) through innovation, financing, and partnerships.

The high-level engagement with the theme, “Scaling Action – Driving Inclusive Growth through Policy and Innovation,” will bring together over 200 senior leaders from government, private enterprise, development institutions, civil society, and the diplomatic community.

Key highlights of the engagement include the launch of flagship, policy-backed initiatives, notably the Business Coalition for Education (BCE) and the Nigeria Foundational Learning Fund, designed to accelerate foundational literacy and numeracy, while addressing the country’s out-of-school children challenge.

Also to be launched on Wednesday is the Women and Youth Financial and Economic Inclusion (WYFEI) Nigeria, the country’s flagship platform for advancing women and youth economic empowerment through compact-based delivery, co-investment frameworks, and performance accountability.

This will make Nigeria the implementation platform of the African Union’s WYFEI programme.

WYFEI will also be launched in other countries after Nigeria.

Speaking ahead of the engagement, the Vice President noted that Nigeria is poised for a prosperity-filled future through the government’s sustained and effective mobilisation of funding, support, and expertise, both internationally and locally.

“Nigeria’s future prosperity depends on how effectively we mobilise the private sector, development partners, and public institutions around shared national priorities. This engagement marks a critical step toward delivery-driven partnerships that unlock the full potential of our women and youth, strengthen human capital, and accelerate inclusive growth,” he said.

On her part, Mrs. Olapeju Ibekwe, CEO of Sterling One Foundation, explained that the ASIS 2026 High-Level Policy Engagement represents a pivotal shift from conversation to national execution.

According to her, the high-level meeting will deliberately align policy, innovation, financing, and frameworks that enable solutions to scale—delivering real impact for millions of Nigerians, while positioning Nigeria as a leader in Africa’s sustainable growth agenda.

The event will also feature the adoption of the WYFEI Nigeria Declaration, a national statement of intent to be endorsed by government officials, CEOs, and development partners, committing to coordinated action to unlock Nigeria’s women and youth dividend.

Senior government officials, chief executives, development partners, investors, and civil society organisations will converge on Abuja to advance results-driven partnerships for inclusive growth, foundational learning, women and youth empowerment, and national development delivery for Nigeria.
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Nigeria, Italy Set to Strengthen Bilateral Ties, Tackle Migration, Security Challenges

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Nigeria, Italy Set to Strengthen Bilateral Ties, Tackle Migration, Security Challenges

By: Michael Mike

Nigeria and Italy have expressed renewed commitment to strengthening bilateral relations, with a focus on addressing irregular migration, insecurity, counter-terrorism, and expanding economic cooperation.

The Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, made this known in Abuja on Monday during a courtesy visit by the Italian Ambassador to Nigeria, Mr. Roberto Mengoni.

Odumegwu-Ojukwu described Italy as one of Nigeria’s key strategic partners in Europe, noting that although diplomatic relations between both countries span more than six decades, there is yet to be a formal Nigeria-Italy Bi-National Commission, calling for the establishment of such a framework to deepen structured engagement and cooperation.

According to the minister, sustained high-level diplomatic engagements between both countries have continued to highlight shared priorities in sustainable development, food security, climate action, and economic growth.

She said ongoing consultations between Nigeria and Italy also reflect a common commitment to addressing global and regional challenges, including climate change, irregular migration, and security threats.

The minister urged for continued collaboration of both countries in combating illegal migration, human trafficking, and transnational crimes, while calling for stronger Italian involvement in Nigeria’s ongoing economic reforms. She identified renewable energy, agribusiness, and infrastructure development as critical sectors for enhanced cooperation.

Odumegwu-Ojukwu also sought Italy’s technical support for Nigeria’s industrialisation drive, stressing that improved mobility between both countries would stimulate trade, investment, education, and cultural exchange.

She emphasised the need to improve visa processing systems, noting that more efficient procedures would ease movement, reduce delays, and strengthen economic and diplomatic relations.

The minister also called for the creation of effective trade facilitation mechanisms to allow Nigerian agricultural and manufactured products access to the Italian market, thereby reducing transit costs and improving supply chain efficiency.

Describing migration as both a challenge and an opportunity, Odumegwu-Ojukwu said Nigeria and Italy are working together to curb irregular migration while expanding legal migration pathways. She explained that bilateral cooperation includes repatriation agreements, voluntary return initiatives, and reintegration programmes for Nigerians returning from Italy.

She also highlighted joint efforts to dismantle human trafficking networks operating between both countries, with special emphasis on protecting vulnerable groups. According to her, vocational training and small business development initiatives are being implemented in high-migration areas to address the root causes of irregular migration.

“With Nigeria’s large youth population, we are deeply concerned about the safety of our young people,” the minister said. “We are seeking effective ways to combat irregular migration, especially as Italy remains a major destination for Nigerian migrants.”

She added that Nigeria is exploring youth-focused initiatives to address unemployment, youth restiveness, and online radicalisation, while appealing for support in building capacity to counter violent extremism.

Earlier, Mengoni reaffirmed Italy’s interest in strengthening relations with Nigeria, describing the country as central to Italy’s Africa cooperation strategy.

He said his mission to Nigeria would prioritise expanding diplomatic and business ties for the mutual benefit of both nations.

“We now have the momentum to engage Nigeria more deeply and enhance cooperation. Italy does not believe in imposing policies on African countries but in building partnerships,” Mengoni stated.

Nigeria, Italy Set to Strengthen Bilateral Ties, Tackle Migration, Security Challenges

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