Connect with us

National

N75bn MSMEs Loan Scheme’ll diversify economy – FG

Published

on

The Federal Government, says the N75b Loan Scheme for Micro, Small, and Medium Enterprises (MSMEs) will diversify the Nigerian economy, create jobs, promote value-addition, revitalize communities, and boost exports.

The Minister of Information and National Orientation, Alhaji Mohammed Idris, made this known at the Town Hall meeting on the loan on Tuesday in Abuja.

According to Idris, the town hall meeting is one of the most important business support policies of the President Bola Tinubu administration.

He said that the development is another concrete manifestation of the unwavering determination of Tinubu to fulfill the Renewed Hope Agenda that remains the centre of his governing vision for Nigeria.

Idris maintained that the first of the eight pillars of that agenda is focused on delivering robust economic growth, adding that small and medium-sized businesses are the engine of the Nigerian economy.

According to him, a 2021 National Bureau of Statistics reports that more than 95 per cent of all the businesses that exist in Nigeria are Nano, Micro, Small and Medium Enterprises (NMSMEs).

“And collectively, they employ over 80 per cent of the nation’s labour force, and contribute close to half of national Gross Domestic Product.

“It is very clear therefore that, when we invest in our NMSMEs, we are oiling the engine of national prosperity.

“The first phase of this 200 billion Naira Federal intervention, amounting to N50 billion disbursed as one-off conditional grants, was targeted at the Nano-businesses segment of the NMSMEs.

“Now, this second phase, of N75 billion, is targeting the MSMEs.

ALSO READ:  Governors back Tax Reform Bills, propose new VAT-sharing formula

“These single-digit loan facilities will be complemented by the ongoing tax reforms designed to reduce the tax burden on Nigerian businesses.

“The goal is to further diversify the Nigerian economy, create jobs, promote value-addition, revitalize our communities, and boost exports, and foreign exchange inflows,” Idris said.

The minister also stressed that the federal government was keen to ensure that those targeted support programmes would go a long way towards alleviating the pains and challenges being experienced on account of the bold economic reforms.

He added that the reforms are being implemented to put the country back on the track of sustainable growth and prosperity.

“We will stop at nothing to reposition Nigeria for rapid economic growth, and in doing this, we will prioritize our hardworking and energetic entrepreneurs, in every part of the country.

“Let me now make this very important point, to all  potential beneficiaries, that you have to confidently put in your application for you to stand a chance of benefiting.

“This is a government of equal and fair opportunities for everyone.

“I have no doubt that the selection process for these loans will be guided by the same principles of equity and transparency that the President is determined to entrench in governance in Nigeria.

The News Agency of Nigeria reports that the town hall meeting attracted stakeholders from the presidency, banking and economy sector. (NAN)

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Easter: Jonathan urges Nigerians to embrace lessons of sacrifice, hope

Published

on

Former President Goodluck Jonathan has urged Christians and other Nigerians, to leverage the lessons of Christ’s resurrection and imbibe the message of hope and victory over the nation’s current challenges.

Jonathan stated this in his Easter message, by his Special Adviser, Ikechukwu Eze, on Friday in Abuja.

Jonathan encouraged Nigerians to remain positive and draw strength from Christ’s love and sacrificial death for humanity and his gift of salvation.

The former president reminded leaders to be selfless and embrace the virtues of servanthood, sacrifice and passion for service, as exemplified by Jesus Christ.

“I join millions of Christians around the world to commemorate Good Friday.

“This day reminds us all of the sacrificial death of Christ for humanity and His gift of salvation and redemption to all believers.

“This moment reminds Christians of servanthood and passion of service, as exemplified by Jesus Christ, who died to save humanity from sin and reconcile all to God.

“At Easter, we reflect on the power of Christ’s love, the gift of righteousness and the triumph of hope over despair and every challenge in life,” Jonathan said.

He further noted that the death and resurrection of Christ on the cross, awakens all to the boundless love of God toward mankind.

The former president also said that Easter also served as a reminder of the possibilities, faith in God, offered man on earth.

“I urge all citizens to be encouraged by the story of the resurrection of Christ and the lessons of hope and victory that are contained in it.

ALSO READ:  Exercise: NDA urges Kaduna, plateau communities not to panic

“Let us be reminded about the purpose of salvation and the essence of mercy and the triumphing power of faith and hope over all circumstances,” he said.

Jonathan also urged the citizens to remain positive of the possibilities within the nation.

He also urged Nigerians to draw strength through hope that the people would triumph over challenges they faced, both as individuals and collectively as a nation.

“This moment points us to the virtues of servanthood, sacrifice and passion for service. Let us recommit to pursuing peace and justice for all.

“As a people, let this season renew our faith, strengthen our hope and guarantee us peace.

“Let us continue to imbibe and pursue these virtues and work toward building a nation of peace, unity and love,” he said.(NAN)

Continue Reading

National

PDP Not Ready For 2027 – Wike

Published

on

…Gives condition to forgive Fubara

… Says I wanted Fubara’s removal, Tinubu saved Rivers

Abubakar Yunusa

Nyesom Wike has described talks about a coalition to unseat President Bola Tinubu as not sincere and believes those behind it are doing so for selfish reasons.

Wike, the Minister of the FCT, said this in Abuja on Friday during a media chat, accusing the masterminds of running away from issues bedevilling the Peoples Democratic Party (PDP), Nigeria’s main opposition party.

He said, “those who are looking for a coalition are for selfish interests, the likes of Atiku and other people, which coalition, with whom?

“Why not come in to repair your party? Everybody wants to become president of the country, nobody wants to say, look, let me build our party so that at the end of the day, our party will be in a formidable position as an opposition party to take over power.

“You don’t do that, the only thing you want to do is let me find a way; how I will be the one, and if that does not happen, then it’s to your tent, oh Israel,” the immediate past governor of Rivers state said.

Former Vice President Atiku Abubakar and a former governor of Kaduna State, Nasir El-Rufai, are among political heavyweights planning to float a coalition to dislodge President Tinubu of the All Progressives Congress (APC) in the 2027 election.

That push has continued to make headlines in the country in the past months, but Wike said those behind it, especially members of the main opposition PDP, should fix their party instead.

ALSO READ:  Exercise: NDA urges Kaduna, plateau communities not to panic

Wike criticised Atiku, the arrowhead of the coalition movement, saying the ex-VP is about to make the mistakes that led to the PDP’s defeat in the 2023 presidential election.

“You make the mistake yesterday, you want to repeat the same mistake today, tomorrow you make the same mistake, and then you come out to say you were rigged out, who rigged you out? You’ve already rigged yourself by causing crisis,” Wike said.

The minister, who is a member of the PDP, also said the party is not ready for the next presidential election scheduled for 2027.

“The PDP is not ready for the 2027 election. It is very obvious. For instance, I have an examination and I am going to class to read. Indeed, am I reading? Am I studying? You don’t need to deceive anybody that you are reading. You are only trying to read so that people will see that you have carried your bag to class,” he said.

“That is the situation of the PDP. So, they cannot say for sure that they are ready for 2027. Power struggle cannot help the party.”

Continue Reading

News

Kaduna Has Expanded Access To Tertiary Education — Uba Sani

Published

on

Governor Uba Sani says his administration has improved access to tertiary education in Kaduna State by reducing tuition fees of state-owned tertiary institutions by 50%.

Speaking through his Principal Private Secretary, Professor Bello Ayuba, at the inauguration of the Kaduna State University (KASU) chapter of the Kaduna State Students Union and a public lecture, the Governor stated that the tuition cut has enabled more students from low-income backgrounds to pursue university degrees with greater ease.

Governor Uba Sani expressed gratitude to the students for honouring him with the Sword of Honour Award and acknowledged their recognition of his administration’s developmental strides.

He reassured the students of his government’s continued support, urging them to maintain peace to allow development initiatives to thrive. “Government will continue to support students and the youth generally to realize their ambitions. On your part, make sure that an atmosphere of peace prevails to allow for government’s development programmes to run their full course,” he said.

The Governor advised students not to allow themselves to be used by agents of disunity and chaos, warning that no meaningful development can occur in a climate of unrest and distrust. However, he commended students for being “reliable partners of progress.”

Addressing the issue of security, Uba Sani recalled how parts of the state were under siege due to insecurity, which disrupted farming and business activities. He said the situation has improved considerably through the efforts of security agencies, leading to safer roads, the return of farmers, and the reopening of local markets—including the Birnin Gwari cattle market after a decade-long closure.

ALSO READ:  INEC denies obstructing inspection of BVAS, election materials in Edo

Highlighting ongoing infrastructure efforts, the Governor said his administration has embarked on over 78 road projects covering 775 kilometers, many of which are rural link roads. He added that General Hospitals are being remodelled and 255 healthcare centres upgraded. Additionally, new schools are being constructed while existing ones are being refurbished to create a better learning environment.

The student union explained that Governor Uba Sani was awarded the Sword of Honour for his commitment to educational development. They praised the tuition reduction and the establishment of new faculties at KASU, including his facilitation of the CBN Intervention Project for the Faculty of Engineering.

They also commended the Governor’s directive allowing students to sit for examinations regardless of outstanding fees, describing it as a gesture of compassion and commitment to inclusive education.

The union concluded that Governor Uba Sani has redefined good governance by prioritizing education, infrastructure, and youth empowerment.

Continue Reading