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BREAKING: Fed Govt begins disbursement of N75bn single digit loan to Business owners
BREAKING: Fed Govt begins disbursement of N75bn single digit loan to Business owners
The Federal Government has commenced the disbursement of N75 billion single digit loan to Micro, Small and Medium Enterprises (MSMEs) through the Bank of Industry (BOI).
Mr Tola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation and MSMEs, made this known in Abuja at a nationwide town hall meeting to sensitise MSMEs to the Presidential Grant and Loan Scheme.
Adekunle-Johnson explained that the town hall meeting was going on simultaneously in Ogun, Bauchi, Enugu and Kaduna states with a view to educate MSMEs on the conditions for accessing the loan.
“We are live in Ogun, Bauchi, Enugu, Kaduna states simultaneously. In 2023 President Bola Tinubu approved some funds as palliative to cushion the effects of subsidy removal.
“We are here today to sensitise MSMEs to the loan which is currently open all over the country.
“MSMEs can work into any Bank of Industry from today and apply for this loan. It is a single digit loan, it is nine per cent, it is fixed, no hidden charges.
“This is the one and only single digit loan you can get and you can get up to N1 million.
“It is important for us to sensitise the people to this facility so that they don’t fall into the hands of people that will tell them to bring money before they can access it,” he said.
The presidential aide said that his office had been collaborating with BOI, which is an important implementing agency for the scheme.
“If you needs any information, if you are not sure of anything, go to the bank of industry.
“Once you provide the requirements, very quickly you will get yours, immediately,” Adekunle-Johnson said.
Earlier, the Managing Director of BOI, Dr Olasupo Olusi, explained that the N200 billion Presidential Intervention Fund for MSMEs and Manufacturing Enterprises was established to support them towards driving economic growth and job creation.
The News Agency of Nigeria (NAN) reports that the MD was represented by Mabel Ndagi, Executive Director, Public Sector and Interventions of BOI.
He said that MSMEs are the driving force behind the nom-oil economy, contributing significantly to innovation, economic growth and job creation in the agriculture, manufacturing and services sectors.
“Despite the immense contribution to economic growth, MSMEs struggle to access the necessary funding to reach their full potential.
“In recognition of this, the Federal Government introduced the N200 billion intervention fund for MSMEs and Manufacturing Enterprises and appointed Bank of Industry as the executing agency to implement this initiative,” he said.
He reiterated that BOI remains committed to playing its part in promoting and supporting MSMEs growth across the country.
Also, the Managing Director of Access Bank Plc, Mr Roosevelt Ogbonna, said the bank was committed to supporting MSMEs.
“In 2008, we focused on MSMEs with particular attention on women and youths.
“94 per cent of all businesses are MSMEs; 66 per cent of that, are owned by women and youths.
“That is the reason for our focus; we want to be known as Nigeria’s MSMEs bank,” he said (NAN)
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UPDATED; Kano Senator suspended from NNPP over anti-party activities reacts
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UPDATED; Kano Senator suspended from NNPP over anti-party activities, reacts
The representative for the Federal Constituencies of Rano, Kibiya, and Bunkure, Kabiru Alhassan Rurum, has vehemently objected to his dismissal from the New Nigeria People’s Party (NNPP), describing it as a blatant act of contempt of court.
Rurum stressed that he and his colleagues were never a part of the section that changed the party’s emblem in a statement in response to the suspension notice given by Hashim Sulaiman Dungurawa, the chairman of the Kano NNPP.
Rather, he clarified that they are part of a distinct NNPP faction.
Rurum and Madakin Gini had publicly distanced themselves from the Kwankwasiyya movement and aligned themselves with the NNPP faction using the fruit and basket logo. Rurum pointed out, “Since they changed the party’s logo, we have not been with them. We are in the NNPP with the fruit and basket logo, while they are with the book logo. We also have a court judgment that dismissed their claims.”
He accused the Kano NNPP leadership of ignoring legal rulings and acting in defiance of the court, stating, “What they did is a contempt of court. They are not legitimate party leaders. After our victory, they took us to an Abia High Court, and even this week, we were in court again. They are deceiving Nigerians.”
Rurum also linked the suspension to the recent wedding of Senator Kawu Sumaila’s daughter, which he said had been attended by prominent Nigerians. He alleged that the party leadership, including National Leader Rabiu Musa Kwankwaso, had been invited but opted not to attend.
“The real issue disturbing them, which shouldn’t even be politicized, is the wedding of Senator Kawu Sumaila’s daughter. Honourable Nigerians were in attendance, and all of them, including Kwankwaso, were invited, but they refused to show up,” Rurum said.
Dismissive of the suspension, Rurum asserted that his faction operates independently, declaring, “Everybody in this country knows we are on two different lanes. They have only suspended themselves because we are not with them.”
Rurum’s remarks further deepen the divide within the NNPP, as ongoing legal battles and mounting political tensions fuel the rift between the two factions.
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JUST IN; Fuel Scarcity looms as IPMAN threatens to halt operations, gives reasons
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JUST IN; Fuel Scarcity looms as IPMAN threatens to halt operations, gives reasons
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to shut down operations if the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) failed to pay an outstanding N100 billion bridging claims.
The Gombe Depot Chairman of IPMAN, Alhaji Abdul Ibrahim, made the position of the Association known at a press conference in Abuja on Monday.
“One year after our last demand requesting the payment of more than N100 billion owed to our members in bridging claims, the management of the NMDPRA has ignored our demand,” he said.
Ibrahim said that members of the Nigerian Association of Road Transport Owners (NARTO) mentioned the same IPMAN bridging claims as part of their demands before the strike action would be called off.
He said that NMDPRA promised to offset the bridging claims within 40.
“40 days have today become months with no hope of our payment.
“The nine northern depots comprising of Jos, Gusau,, Suleja, Kaduna, Kano, Gombe, Yola and Maiduguri depots have become completely grounded over this lingering debt.
“This debts being owed to us are monies belonging to marketers and which were deducted from us at the point of payments for products, in order to settle our bridging allowances.
“We have also continued to record deaths of our members, closure of their businesses, retrenchment of staff and the take-over of their business premises by the commercial banks.
“These are all arising from this refusal of the NMDPRA to pay us our monies,” he said.
Ibrahim said that IPMAN was giving the NMDPRA seven days to make the payment.
“As law-abiding Nigerians, we sincerely believe that we have given the NMDPRA enough time to pay us our monies in bulk and clear the bridging claims.
“But in view of their constant refusal, we have therefore decided to liaise with our sister organisations, the Petroleum Tankers Driver (PTD) and NARTO in order to take a collective action in due course.
“As members of IPMAN, it is important to state that we also own sizeable numbers of the PTD, and we may be forced to withdraw our tankers from loading petroleum products,” he said.
He said that another worrisome development was the alleged NMDPRA’s imposition of several abnormal levies on its members.
“NMDPRA has made things very difficult for us, as they have also subjected our members to paying bizarre levies whenever we deem it fit to renovate our petrol outlets.
“There are many distressing levies they have forced on us that are not only anti-developmental, but also unconstitutional and we are demanding their immediate suspension,’’ he said.
The IPMAN chairman called on President Bola Tinubu to intervene in the prolonged disputes between IPMAN and NMDPRA. (NAN)
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Passengers burnt beyond recognition in tragic commercial bus fire accident
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Passengers burnt beyond recognition in tragic commercial bus fire accident
At least four people, including three children, were tragically killed in a bus fire in Gwaram Local Government Area, Jigawa State, on Saturday afternoon.
The incident occurred around 4 p.m. when a Hummer bus, carrying 44 passengers, was engulfed in flames near the Government Girls Unity Secondary School.
According to the State Police Public Relations Officer, SP Lawan Shiisu, the fire began when a mattress tied to the back of the bus made contact with the exhaust pipe, sparking a deadly blaze.
“The mattress caught fire from the vehicle’s exhaust. Unfortunately, four victims, including a 40-year-old woman and three children aged five, three, and ten, were burnt beyond recognition,” Shiisu confirmed.
In addition to the fatalities, ten other passengers sustained injuries of varying severity and were quickly transported to Gwaram Cottage Hospital for treatment. Fortunately, the remaining passengers were able to evacuate the bus safely.
The remains of the deceased have been returned to their families for burial, in line with Islamic customs.
The Jigawa State Government has extended condolences to the victims’ families and promised to intensify efforts to enforce road safety regulations to prevent similar incidents in the future.
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