National News
FG Announces Plans To Formalize 1m Businesses At Discounted Rate

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
National News
Lula Extends Invitation to President Tinubu to Visit Brazil

Lula Extends Invitation to President Tinubu to Visit Brazil
By: Michael Mike
A high-level delegation from Brazil, led by Minister of Foreign Affairs, Mauro Viera arrived in Abuja on a visit aimed at boosting cooperation between Nigeria and Brazil in a move towards strengthening bilateral ties between the two countries.
The visit was also used to deliver an invitation of Brazilian President, Luiz Inácio Lula da Silva known mononymously as Lula, to President Bola Tinubu to Brazil in the nearest future.
The bilateral relations between the two nations dates back to Nigeria’s independence in 1960.
During the visit, the Brazilian delegation is expected to engage in high-level talks with Nigerian officials, exploring opportunities for collaboration in areas such as agriculture, energy, and infrastructure development.
The two countries are also expected to sign several agreements aimed at strengthening their bilateral ties.
The Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, while hosting his Brazilian counterpart in his office on Wednesday, noted that Brazil was the only Latin American country to attend Nigeria’s independence celebration, underscoring the strong historical ties between the two nations.
He said: “We share a lot in common, from our size and economies to our population and culture. This visit is a natural progression of our partnership.”
Tuggar, while citing their robust engagement between the two countries since independence, referenced President Bola Ahmed Tinubu’s visit to Brazil last year, where he attended the G20 summit and engaged in activities to strengthen bilateral ties.
Tuggar emphasized the significance of the visit, saying, “We welcome you and your delegation warmly, and we’re happy to see you here in Abuja.
This visit is a continuation of our efforts to strengthen the bond between our two countries.”
In response, the Brazilian Minister of Foreign Affairs, Ambassador Mauro Viera, recalled his first meeting with Nigerian officials in Dubai in 2023 and the subsequent meeting between President Lula and President Tinubu in Addis Ababa in 2024.
Viera praised President Tinubu’s participation in the G20 summit in Brazil last November, valuing Nigeria’s contributions to the forum.
He also extended an invitation from President Lula for President Tinubu to visit Brazil in the near future.
This visit aims to strengthen bilateral relations, building on previous engagements since President Lula took office in January 2023.
The Brazilian minister emphasized the importance of strategic dialogue and exploring deeper relations in various areas, including culture, economics, cooperation, education, and more.
He highlighted the close contacts between Brazilians and Nigerians, as well as the significant presence of Nigerians in Brazilian society and culture.
He thanked the Nigerian government for hosting the Brazilian delegation and expressed his enthusiasm for a productive day of work to further develop bilateral relations.
This visit marks a significant step in strengthening ties between Brazil and Nigeria, with potential collaborations in trade, investment, and cultural exchange on the horizon.
Lula Extends Invitation to President Tinubu to Visit Brazil
National News
Nigeria-Korea Trade Hits $2.2bn in 2024 – Amb. Pankyu

Nigeria-Korea Trade Hits $2.2bn in 2024 – Amb. Pankyu
By: Michael Mike
The Republic of Korea’s ambassador to Nigeria, Kim Pankyu has disclosed that bilateral trade between Nigeria and Korea increased by 38.6 per cent in 2024, reaching over $2.2 billion.
Pankyu disclosed this in Abuja on Wednesday during a press briefing to mark the 45 years anniversary of bilateral relations between the two countries.
The envoy, who arrived Nigeria a year ago in the role, said that since his arrival, the relationship between Korea and Nigeria had grown significantly.
Pankyu, while disclosing that Nigeria is now Korea’s most important trade partner in Africa, noted that his country has not stopped working at improving trade and investment relations with Nigeria.
He said: “Nigeria remains Korea’s most important trade and investment partner in Africa and accounts for 10 percent of Korea-Africa trade and over 70 per cent of Korea’s project and contract in Africa.
“In 2024, our bilateral trade increased by 38.6 per cent, reaching over 2.2 billion USD.
He also said his country was eyeing more security collaboration with Nigeria, saying: “With 40 years of experience in military and security affairs, I am committed to enhancing our security collaboration, in particular, maritime security in the Gulf of Guinea is critical for both Nigeria and transit countries like the Republic of Korea.”
“We are committed to increasing Korea’s support for capacity building in the Nigerian military and security sectors. Additionally, we hope to finalise the defense industry cooperation’s MOUs that have been under discussions for some time.
The ambassador, while noting that his country had made several contributions to Nigeria in the past year, said such contributions demonstrate the mutual trust and friendship between Korea and Nigeria.
He assured that: “As ambassador, I will continue working to facilitate our long-standing partnership for the years ahead.”
Nigeria-Korea Trade Hits $2.2bn in 2024 – Amb. Pankyu
National News
AU Condemns Attempt to Create Parallel Government in Sudan

AU Condemns Attempt to Create Parallel Government in Sudan
By: Michael Mike
The African Union (AU) has condemned the proposed plan of the Sudanese militant group, Rapid Support Forces (RSF) to form a parallel government in war torn Sudan.
AU in a statement asked RSF and its affiliated political and social forces against the establishment of a parallel government in the Republic of Sudan, and warned
that such action carries a huge risk of partitioning of the country.
The Council called on all AU Member States and the international community not to recognize any parallel government or entity seeking to partition and govern any part of the territory of the Republic of Sudan or its institutions; and further called on all Member States and the international community to refrain from recognizing and/or providing support or assistance to any armed or political group toward the establishment of a parallel government or state entity in the Republic of Sudan.
The statement added that: “Council does not recognize the purported parallel government or entity in the Republic of
Sudan.
“Council reaffirmed its commitment to the preservation of the sovereignty, unity, and
territorial integrity of the Republic of Sudan, and the peaceful resolution of the current devastating conflict, which has created the world’s largest humanitarian crisis, causing the displacement of over 12 million Sudanese civilians.
“Council called on all parties to heed the calls for a ceasefire and unhindered humanitarian access during this holy month of Ramadan and to commit to comprehensive and inclusive peace talks
to end the conflict once and for all and restore the unity of the Sudanese state.
Council reaffirmed the AU unwavering commitment to continue to collaborate with all Sudanese stakeholders towards finding viable and durable solutions towards silencing the guns permanently in Sudan, based on the AU Roadmap for the Resolution of the Conflict in Sudan, which
was adopted by the PSC at the Heads of State and Government level on 27th May 2023; and urged the need to the resumption of the process of the restoration of constitutional democratic order, through
the AU/IGAD-convened Political Dialogue process with political and civil actors and the implementation of the Jeddah Declaration signed by both parties, the Sudanese Armed Forces (SAF)
and the RSF, on 11 May 2023; in this respect, Council underscored the imperative to continue to prioritize the six (6) pillars of the AU Roadmap particularly the call for a comprehensive and inclusive ceasefire, humanitarian access and a swift political resolution of the conflict.”
The AU expressed its support for the efforts of both the PSC Ad-hoc Presidential Committee and the High-Level Panel on Sudan to seek a consensual political solution to this crisis, which threatens
the sovereignty and integrity of the Republic of Sudan.
Responding to the statement by the AU,
Sudan’s Ministry of Foreign Affairs
Office of the Spokesperson and Media Directorate said the statement was received with keen appreciation.
It said it “welcomed the press statement issued by the African Union Peace and Security Council (PSC) following its meeting
today. The statement included a clear and unequivocal condemnation of the announcement made by the RSF militia and its affiliates regarding the establishment of a parallel government and expressed grave concern about this move, warning of the huge risks it poses to the unity of Sudan and the potential for its partitioning.”
The PSC confirmed that it does not recognize the purported parallel government, reiterating its
commitment to preserving Sudan’s sovereignty, unity, and territorial integrity.
This strong position reflects the full commitment to the principles upon which Pan-Africanism has been founded, as expressed in the Constitutive Act of the African Union, and previously in
the Charter of the Organisation of African Unity, the Charter of the United Nations, and all the rules upon which the contemporary international system is based. The most important of these
principles are the preservation of state sovereignty, unity, and territorial integrity, and the rejection of interference in the internal affairs of states.
It added that: “This principled and decisive position from the continental mother organisation underscores the
international community’s total rejection of the conspiracy of the genocidal RSF militia and its regional sponsor, along with those who follow its directives in the region, against the unity and sovereignty of Sudan.
“This has been expressed in the statements of the United Nations Secretary-General, the United Nations Security Council, the Arab League, the International
Conference on the Great Lakes Region, the EU, and the brotherly countries and influential members of the international community.
“Sudan renews its appreciation for these clear positions that are consistent with international law, which constitute strong support to the Sudanese people and their national institutions in defending their sovereignty, unity, dignity, and independence.”
In his words, the media officer of Sudan Embassy in Nigeria, Almoiz Mohamed said the statement from AU emphasized Sudan’s sovereignty and rejected any separatist attempts that threaten its unity. It called for a firm response to these moves and the isolation of any arrangements that would undermine the country’s sovereignty and integrity.
He said: “We appreciate this responsible stance and commend the courage of member states in taking this decision, which strengthens the unity and partnership of African countries, in line with the common charters and principles upon which the African Union is based.”
AU Condemns Attempt to Create Parallel Government in Sudan
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