News
FG raises MSMEs loans to N5m at 9%
The Federal Government has raised the amount small businesses could access on single digit loans to N5 million to ensure the country’s inclusive economic growth.
The Managing Director and Chief Executive Officer, Bank of Industry (BOI), Dr Olasupo Olusi, made the announcement on Friday during a town hall sensitisation in Lagos on the Federal Government Grant and Loan Scheme.
The event was organised by the Federal Ministry of Finance in collaboration with the Federal Ministry of Industry, Trade and Investments, the Presidency, Bank of Industry and other stakeholders.
Olusi, represented by Umar Shekarau, Executive Director, MSMEs, BoI, praised President Bola Tinubu for the availability of N200 billion Presidential Intervention Fund for Micro, Small, and Medium Enterprises (MSMEs).
He said N75 billion out of the presidential conditional grant and loan scheme, was targeted for MSMEs, adding that, the initiative was expected to create thousands of direct and indirect jobs nationwide.
The BoI boss said the fund, facilitated through the Bank of Industry (BOI) nationwide, was already sitting in the bank ready to be disbursed to beneficiaries at just nine per cent interest.
He urged business owners to approach the BoI or register online, without going through intermediaries, to benefit from loans and grants.
According to him, over 800,000 Nigerians have benefited and there is room for including youths, women, physically challenged and all Nigerian.
“We maintain our integrity as BoI and disburse the funds,” he said.
The News Agency of Nigeria (NAN) reports that the town hall is holding simultaneously in six states of the federation.
Temitola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and Micro, Small and Medium Enterprises (MSMEs) said that successful applicants will receive an increased loan of N5 million.
This is against previous N1 million benchmark earmarked to boost their business operations.
He said President Tinubu gave the funds to cushion the effects of challenges experienced by businesses including access to finance, infrastructure, among others.
“The loan is nine per cent three years tenure. A single MSME can collect up to N5 million single digit,” he said.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, listed interventions of the presidency for small businesses and manufacturing sector and success recorded so far.
Edun, represented by Ahmed Gazalli, said the event marked a pivotal moment in our collective journey toward economic empowerment and sustainable growth.
He said the event was to propagate a shared vision for communal prosperity in a thriving, inclusive economy where every Nigerian had the tools and resources to succeed.
Edun said the government was keenly focused on driving MSME growth and the success of the manufacturing sector to properly reposition Nigeria’s economy.
“It is common knowledge that MSMEs are the backbone of the Nigerian economy and if we do not support our MSME’s to prosper, the Nigerian economy suffers,” he said.
He thanked the MSMEs and beneficiaries in attendance for your hard work, sacrifice, and contributions to the development and stability of Nigeria.
Minister of State for Industry, Trade and Investment, Sen. John Eno, said the government was eager to support programmes and initiatives that promotes welfare of Nigerians.
Eno pledged the government’s commitment to help all the agencies to deliver on their mandates.
He called for collaboration to remove barriers from growth of MSMEs.
“It is such collaboration that can make it work,” he said.
On his part, Mr John Uwajumogu, Special Adviser, Industry, Trade and Investment, explained the gains of supporting industries with finance for inclusive growth
Some of the beneficiaries included, Mr Akor Goddy, a vegetable farmer and vendor from Badagry; Angela Christopher, a nanny; and Mr William Asuquo, a food vendor from Isolo in Lagos. (NAN)
News
Anka resident commends President Tinubu, Matawalle, CDS Musa for eliminating notorious bandits leader Mati, Others
Residents of Anka Local Government Area in Zamfara State have lauded the
President Bola Tinubu, Minister of State for Defence, Dr Bello Mohammed Matawalle,and Chief of Defence staff
General Christopher Musa,following the successful elimination of a notorious terrorist commander, Mati, and several of his fighters in a recent counter-terrorism operation backed by the Federal Government.
In a statement signed by the Chairman of Anka community, Muhammed Usman Anka, locals expressed their appreciation to the Minister of State for Defence, Dr Bello Mohammed Matawalle, for his role in supporting the operation.
The mission, part of a broader strategy to tackle insecurity in the Northwest, reportedly led to the recovery of a cache of weapons and the dismantling of key terrorist infrastructure.
According to the statement, the offensive was launched under “Operation Munzo,” a government-led initiative aimed at restoring peace to Zamfara and other violence-plagued regions.
Troops began their advance from Bagega in Anka Local Government, clearing the villages of Tibuki and Sabuwar Tunga before storming the heavily fortified camp of Mati.
The battle, described as intense, culminated in a decisive victory for Nigerian forces. Mati—linked to a series of high-profile attacks, kidnappings, and banditry in the region—was neutralised alongside several of his lieutenants during the exchange of gunfire.
Among the items recovered from the terrorist enclave were one PKT machine gun with two belts of ammunition, five AK-47 rifles, twelve magazines, 487 rounds of ammunition, three Baofeng communication radios, and a set of military and police uniforms.
Troops also destroyed three motorcycles used by the militants and recovered several rustled cattle.
All communications equipment found in the camp was dismantled to disrupt future terrorist coordination.
Speaking on the success of the operation, Dr Matawalle praised the bravery and professionalism of the Nigerian Armed Forces.
“Operation Munzo is part of our ongoing strategy to dismantle terrorist strongholds and restore lasting peace to Zamfara and neighbouring states,” he said.
“The days of these criminals are numbered. President Bola Ahmed Tinubu has issued clear directives to deal decisively with terrorists and re-establish law and order nationwide.”
Dr Matawalle reaffirmed the Defence Ministry’s commitment to fully supporting the Armed Forces in their efforts to secure the region.
He urged residents to remain vigilant and continue cooperating with security agencies by providing timely and credible information.
“Operation Munzo” remains ongoing, with troops combing through forested areas to locate and eliminate remaining insurgent elements.
Niger’s military government has officially made Hausa the country’s new national language, moving away from its colonial past where French played a central role.
The change was announced in a new charter released on March 31, published in a special edition of the government’s official journal.
According to the document, “The national language is Hausa,” and “the working languages are English and French.”
Hausa is already the most commonly spoken language across Niger, especially in the Zinder, Maradi, and Tahoua regions.
0
Most of the country’s about 26 million people understand and speak Hausa. In comparison, only around three million people, just 13 per cent, can speak French.
The new charter also officially lists nine other local languages, including Zarma-Songhay, Fula, Kanuri, Gourmanche, and Arabic, as “the spoken languages of Niger.”
This language switch follows a national meeting held in February.
During that event, the military government received more support and General Abdourahamane Tiani, the junta leader, was approved to stay in power for five more years.
Since taking over in a coup in July 2023, which removed the country’s civilian president, Mohamed Bazoum, the junta has been cutting off ties with France.
These actions include removing French troops from the country, ending diplomatic relations, and changing the names of roads and buildings that used to carry French names.
Niger, Mali and Burkina Faso, which also have military governments and used to be French colonies, are taking similar steps.
They’ve also withdrawn from the Organisation Internationale de la Francophonie, a group similar to the Commonwealth that supports French-speaking nations.
Leaders of the opposition Labour Party on Wednesday marched to the headquarters of the Independent National Electoral Commission (INEC) in Abuja, the nation’s capital.
Led by the party’s 2023 presidential candidate, Peter Obi, and the Abia State Governor, Alex Otti, the members were received by INEC National Commissioner, Sam Olumekun.
They asked the electoral body to recognise Nenadi Usman as the LP chairman, days after the Supreme Court set aside the judgment of the Court of Appeal in Abuja recognising Abure as the National Chairman of the LP.
In a unanimous judgment last week, a five-member panel of the apex court held that the Court of Appeal lacked the jurisdiction to have pronounced Abure National Chairman of the LP, having earlier found that the substance of the case was about the party’s leadership.
The court allowed the appeal filed by Senator Ester Usman, and one other and held that it was meritorious before subsequently proceeding to dismiss the cross-appeal filed by the Abure faction of the LP for being unmeritorious.
Otti read out the Certified True Copy of the Supreme Court judgement as delivered by Justice Inyang Okoro.
“Consequent upon the foregoing, the decisions of both higher court and the court below recognize Barrister Julius Abure as the National Chairman of the first respondent and hereby set aside and suit number FXC is hereby struck out for want of jurisdiction,” Otti said.
“In the same vein, the first respondent, that is labour party under Abure, being an offshoot of the same judgement of the court is hereby dismissed. Before I am done, may I admonish political parties and their members to endeavour to always abide by their constitutions, rules, regulations and guidelines to guide them in choosing their officers as well as candidates?
“That way, incessant internal risks which always find their way to court should be reduced. If the constitution of a political party has prescribed duration for tenure of office of an officer such as this one, such officer should be humble enough to leave at the expiration of the tenure.
“In the final analysis, I find this appeal to be meritorious and is hereby allowed. The party shall bear their respective cost, appeal allowed. This is signed by Honorable Justice John Inyang Okoro, Justice of the Supreme Court.”