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FG Moves To Fast Track MSMEs Growth, Sets Up C’ttee To Enhance Financing

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FG Moves To Fast Track MSMEs Growth, Sets Up C’ttee To Enhance Financing

** We’ll be more deliberate in supporting small business owners to grow – VP Shettima

By: Our Reporter

The Vice President, Senator Kashim Shettima, has said that the federal government, working in collaboration with other stakeholders, will be more deliberate in ensuring growth in the Micro, Small and Medium Enterprises (MSMEs) space in Nigeria.

To this end, the National Council on Micro, Small and Medium Enterprises (MSMEs) has set up a committee to interface with the Central Bank of Nigeria to enhance the financing of small businesses in the country.

This was part of decisions taken on Tuesday at the first meeting of the National Council on MSMEs for 2025 held at the Presidential Villa, Abuja.

Speaking after deliberations by members, Vice President Shettima said the federal government, through its agencies and partners, has the moral burden of supporting growth in the MSME space and facilitating job creation across different sectors for Nigerians.

Reeling out the mandate of the committee, the Vice President said the efforts of the administration of President Bola Ahmed Tinubu in supporting small businesses, evident in important policies and programmes, need to be complemented by stakeholders, especially the private sector.

The committee headed by the Minister of State for Industry, Trade and Investment, Sen. John Enoh, has Ministers of Science and Technology; Women Affairs; Minister of State for Agriculture and Food Security and the Senior Special Assistant to the President on MSMEs as members.

Others include the CEOs of Bank of Industry, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Bank of Agriculture (BOI), Nigeria Export-Import Bank (NEXIM Bank), Development Bank of Nigeria (DBN), Corporate Affairs Commission (CAC), Nigerian Investment Promotion Commission (NIPC), Nigerian Export Promotion Council (NEPC), and the representative of NACCIMA and the organized private sector.

In the same vein, Council also approved a loan scheme for MSMEs known as the syndicated de-risked loans for small businesses.

The scheme will be a partnership between state governments and financial institutions aimed at enhancing access to finance for MSMEs at single-digit rates across the country.

Vice President Shettima advised state governments to set up vehicles that are devoid of political interests to drive the implementation of the syndicated de-risked loans for the MSMEs scheme.

“Some of these initiatives are laudable and will need to outlive the present administrations in the States. Regardless of political affiliations, Nigerians must be seen to be the ultimate beneficiaries of these schemes that we are trying to put in place,” the VP stated.

Earlier, the Senior Special Assistant to the President on MSMEs, Mr Temitola Adekunle-Johnson, presented the ‘syndicated de-risked loans’ scheme for small businesses, seeking the cooperation of members and describing it as a game-changing programme to provide affordable and available loans for businesses.

He said the initiative is in acknowledgement of the President’s passion and commitment to the development of small businesses and aimed at providing more jobs for Nigerians.

In his presentation on the state of MSMEs in Nigeria, the DG SMEDAN, Mr Charles Odii, said the agency was proposing an initiative which was born from a 3-day MSME conference held in 2024.

He said the initiative known as the GROW Nigeria strategy is to provide guidance, resources, opportunities, and the workforce to support the about 40 million small businesses across 8 distinct sectors.

Present at the meeting were the Deputy Governor of Enugu State, Mr Ifeanyi Ossai; the representatives of the Governors of Benue and Katsina States; the Minister of State for Industry, Trade and Investment, Sen. John Enoh; Ministers of Science and Technology, Mr Uche Nnaji; Women Affairs, Hajiya Imaan Sulaiman-Ibrahim; Minister of State for Agriculture and Food Security, Sen. Aliyu Abdullahi; representative of the Governor of Central Bank of Nigeria.

Others are the CEOs of Bank of Industry (BOI), Bank of Agriculture (BOA), Nigeria Export-Import Bank (NEXIM Bank), Development Bank of Nigeria (DBN), Corporate Affairs Commission (CAC), Nigerian Investment Promotion Commission (NIPC), Nigerian Export Promotion Council (NEPC), NAFDAC, Standards Organisation of Nigeria (SON); National Bureau of Statistics (NBS); the Presidents of NACCIMA and National Association of Small and Medium Enterprises (NASME).

FG Moves To Fast Track MSMEs Growth, Sets Up C’ttee To Enhance Financing

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Zulum goes tough, Inaugurates committee to curb the menace of anti-social vices

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Zulum goes tough, Inaugurates committee to curb the menace of anti-social vices

By: Our Reporter

Borno State Governor, Babagana Umara Zulum, on Tuesday inaugurated a committee to combat the rising cases of social vices in Maiduguri, the capital city of the state. The committee will address issues such as drug abuse, youth restiveness and all other forms of violence.

The Governor emphasised the urgency of the situation, citing alarming instances that indicate a significant increase in criminal activities linked to social instability. “The increasing cases of criminality in the state, such as thuggery, theft, and armed robbery, among others, are a matter of great concern to the public, not only in Maiduguri Metropolis but also in Borno State in general.”

“Prostitution and gangsterism are increasing daily; It is sad to note that a few days ago some were even killed behind the UMTH; in fact, it has now become the order of the day. Many places in Maiduguri are littered with hoodlums.

“In addition to this, political thuggery must be curtailed; it constitutes a lot of public disturbances. Enough now, we must take decisive action,” Zulum stated.

The committee, which comprises community leaders and law enforcement officials, including military and police, is expected to conduct extensive outreach programmes aimed at educating the public about the dangers of social vices and prosecuting those found wanting according to the law.

The Governor, however, cautioned that if allowed to continue, criminal activities can lead to insurgency, further deteriorating the fragile security situation in Borno.

Speaking on behalf of the committee members, the Chairman, Barrister Hauwa Abubakar, who is the state ‘s Attorney General and Commissioner for Justice expressed gratitude to the Governor while assuring that they would work up to expectations.

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Financial Inclusion: FG Moves To Fast Track Cash Transfers To 15m Households

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Financial Inclusion: FG Moves To Fast Track Cash Transfers To 15m Households

By: Our Reporter

The Federal Government has commenced the implementation phase of its economic and financial inclusion strategy aimed at improving access to economic opportunities for Nigerians.

To this end, the government has established an inter-agency task force to address challenges delaying President Bola Ahmed Tinubu’s approved conditional cash transfers to 15 million vulnerable households.

Speaking at the inaugural meeting of the Technical Committee of the Presidential Committee on Economic and Financial Inclusion (PreCEFI), Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hassan Hadejia, explained that the meeting brought together high-level stakeholders from government agencies, financial institutions, and academia to align on the President’s vision and execution roadmap.

“We are off to a very good start. What has led to the success of what we’ve done so far is alignment and inclusive stakeholder engagement. Financial inclusion is not just about having a bank account—it means access to quality services, credit, and the visibility that digital platforms offer,” he said.

Senator Hadejia cited recent discussions that were had at the World Bank Spring Meetings, noting that “the whole conversation was about India and what it has been able to achieve in lifting its population out of extreme poverty through financial inclusion.”

Earlier, the committee’s Secretary, Dr. Nurudeen Abubakar Zauro, who also serves as the Technical Advisor to the President on Financial Inclusion, said the meeting also approved PreCEFI’s strategic roadmap and governance structure.

“An inter-agency committee has been established to address delays in the disbursement of conditional cash transfers to 15 million households as mandated by President Tinubu,” Dr. Zauro said..

The inter-agency task force includes the National Identity Management Commission (NIMC), National Social Safety-Nets Coordinating Office (NASSCO), National Cash Transfer Office (NCTO), Central Bank of Nigeria (CBN), and the Nigeria Inter-Bank Settlement System (NIBSS). Their goal is to unlock bottlenecks and fast-track the distribution of critical financial support to Nigeria’s most vulnerable.

The meeting also endorsed steps to work with state governments in localising data from the EFInA Access to Financial Services survey – a biennial study conducted by the Enhancing Financial Innovation and Access (EFInA) in Nigeria.

“We will be presenting the report to the National Economic Council and the Nigerian Governors Forum to ensure data is domesticated and acted upon at the subnational level,” Dr. Zauro said.

Also, Director-General of NIMC, Engr. Abisoye Coker-Odusote, explained that digital identity plays a foundational role in achieving inclusion goals.

“The beauty of the NIN is that it bridges the financial divide. It provides access to health, education, and agricultural services and strengthens national data infrastructure,” she said.

On her part, Director of Consumer Protection and Financial Inclusion at the CBN, Dr. Aisha A. Isa-Olatinwo, urged the committee to focus on implementable outcomes that serve those at the base of the pyramid, adding that “Financial inclusion is one of the eight reform pillars of the President’s agenda.”

Dean of the Lagos Business School, Professor Olayinka David-West, said the meeting was solution-oriented.

“We identified key challenges impacting the achievement of the President’s Renewed Hope Agenda and how we would use our collective wisdom to solve the problems,” she said, adding that “economic and financial inclusion is every Nigerian’s problem.”

Other members of the committee present at the meeting included the National Information Technology Development Agency (NITDA), the Nigerian Governors’ Forum (NGF), the National Cash Transfer Office (NCTO), the Nigerian Communications Commission (NCC), the Federal Competition and Consumer Protection Commission (FCCPC), the Bank of Industry (BOI), Gates Foundation, Ahmadu Bello University, Zaria (ABU Zaria), the Egbaraden Traditional Council, IQS Africa, and Google.

Financial Inclusion: FG Moves To Fast Track Cash Transfers To 15m Households

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EXCLUSIVE: COAS relocates to maiduguri to rejig counter-terrorism operations

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EXCLUSIVE: COAS relocates to maiduguri to rejig counter-terrorism operations

By: Zagazola Makama

The Chief of Army Staff (COAS), Lt.-Gen. Olufemi Olufemi, has relocated to Maiduguri, Borno State, along with his strategic commanders as part of renewed efforts to rejig and restrategise counter-terrorism operations in the North East.

Zagazola Makama report that the relocation comes amid heightened operational activities against remnants of Boko Haram and ISWAP terrorists operating in the Lake Chad Basin and Sambisa forest axis.

Lt.-Gen. Olufemi Oluyode, who has spent the past three days in the frontline, is leading a high powered team of senior military officers to conduct on-the-ground assessments and tactical reviews of ongoing operations under Operation Hadin Kai.

A top military source disclosed that Army Chief is also using the visit to interact with commanders, frontline troops, Theartre Commander and members of the military high command to enhance synergy and coordination in the fight against insurgency.

“The COAS is fully on ground. His presence in the theatre is to drive home the urgency of operational recalibration and to ensure our troops are adequately supported in all aspects,” the source said.

Lt.-Gen. Oluyode has also held closed-door sessions with field commanders, intelligence units, and other components of the Joint Task Force to fine tune approaches toward dismantling remaining terrorist strongholds.

His visit is expected to further boost the morale of troops and reassure residents of sustained efforts by the Nigerian Army to restore peace and stability across the region.
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