Osinbajo To Launch MSME Clinic In Kwara

MSME Clinic, Yemi Osinbajo, KwaraActing President of Nigeria, Professor Yemi Osinbajo, is set to launch a three-day Micro Small and Medium Enterprises (MSME) clinic on Thursday, February 23 for viable enterprises in Ilorin, the Kwara State capital.

Recall that Acting President Osinbajo commissioned the Aba MSME clinic on January 26.

Aba is the commercial hub of Abia State in southeast Nigeria.

The Chief Operating Officer of the Kwara State MSME Bureau, Mr Segun Soewu, who made the disclosure in a statement on Monday, informed that the event would hold at the Banquet Hall, Ilorin by 10:00AM daily.

He described the clinic as an opportunity for MSME operators in the state to discuss the opportunities and challenges confronting their businesses.

The MSME Bureau boss added that business owners can also make inquiries about policies and regulations regarding their businesses from the Federal agencies that would be present at the programme.

He listed the agencies to include the Standard Organisation of Nigeria (SON), Federal Inland Revenue Services (FIRS), Corporate Affairs Commission (CAC), Nigerian Investment Promotion Commission, Nigeria Export Promotion Council, Nigerian Export-Import Bank and National Agency for Food and Drug Administration and Control (NAFDAC).

Others are Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), Bank of Agriculture, Bank of Industry, Federal Institute of Industrial Research, Oshodi (FIIRO), Projects Development Institute, Raw Materials Research and Development Council, and the National Agency for Science and Engineering Infrastructure.

Mr Soewu asked intending participants to contact the office of the Chief Operating Officer of the Kwara State MSME Bureau at the Ministry of Commerce and Cooperatives, Gambari Road in Ilorin.


FG Launches Project To Boost MSMEs In Nigeria

Yemi Osinbajo, Nigeria, MSME, Micro, Small and Medium EnterprisesThe Federal Government has launched a nationwide project code-named “MSME Clinics” to address the challenges faced by Micro, Small and Medium Enterprises (MSME) in Nigeria.

The Vice President, Professor Yemi Osinbajo, launched the project on Tuesday in Abuja, the Federal Capital Territory.

Professor Osinbajo said that the project would serve as a one stop shop to address challenges faced by small business owners.

The Governor of Kwara State, Abdulfatah Ahmed, who was among the state governors at the event, identified lack of access to finance as one major problem facing the sector.

The Minister of Trade, Industry and Investment, Okechukwu Enelamah, however, assured operators that the results from the project would improve the sector.

A study by the National Bureau of Statistics revealed that over 37 million MSMEs operated in Nigeria between 2010 and 2013.

Many of the businesses were said to have operated in the face of several challenges including administrative bottlenecks faced in getting government’s approval to register their businesses.

The project, which is expected to run till February 19, comes as part of the government’s efforts to address some of the challenges.

The facilitators of the project have been asked to interact with small business owners in 21 cities of the federation, with a view to identifying their challenges and providing immediate solutions.

The cities highlighted are Aba, Lagos and Ilorin among others.

Bank Of Industry Targets One Million Jobs By Year End

angry youthsThe Bank of Industry in Nigeria is targeting the creation of one million jobs by the end of 2016 and 10 million jobs over the next three years.

Chief Executive Officer of the Bank, Waheed Olagunju, made the projection at the bank’s Annual General Meeting held on Monday.

Mr Olagunji said the projection was part of the banks incremental efforts on the previous financial years achievements aimed at reducing unemployment in Nigeria to a single digit in the near future.

The company accounts were certified authentic and balanced by independent auditors, Deloitte and a dividend of 1.194 billion was declared for shareholders, a feat the Chief Executive Officer said would be built upon until Nigeria’s unemployment reduction target was met.

The Bank of Industry said it created nearly 400,000 jobs in 2015 through its 83.5 billion Naira loan disbursement to over 700 enterprises with 5.7 billion Naira going to Micro Small and Medium Enterprises.

It was the 56th Annual General Meeting of the Bank of Industry Limited held to receive the accounts of the company for the 2015 financial year, elect directors, declare a dividend and appoint auditors.

The Permanent Secretary of the Ministry of Industry Trade and Investment, who represented the Minister, Aminu Bisalla, commended the bank for its monumental achievement in supporting the economy through growth of businesses while pointing them towards the tasks ahead.

The global economic challenges of 2015 and the pressure on the business environment notwithstanding, the Bank of Industry declared a net income of 47.2 billion Naira with a profit after tax of 44.6 billion Naira while its total operating income rose from 27.1 billion Naira in the previous year to 70.7 billion Naira.

Cross River Government Woos Investors, Commissions BOI Office

Cross River Government Woos Investors, Commissions BOI OfficeCross River State Governor, Ben Ayade, has expressed the determination of his administration to create an enabling environment for private investors to do business in the state.

The Governor, who was represented by his Deputy Governor, Ivara Esu, disclosed this at the commissioning of the Bank Of Industry (BOI) office in Calabar, the Cross River State capital in south-south Nigeria.

According to Governor Ayade, the commissioning of the office in Calabar was a clear indication of an enduring partnership that would have a huge impact on the state’s industrialisation drive, job creation, economic development and sustained socio-economic growth.

He assured the bank of unreserved support of the state government to enable it operate effectively in the quest of the state to achieve economic transformation.

Managing Director of BOI, Mr Rasheed Olaoluwa, disclosed that with this strategic and visionary initiative, the Micro, Small and Medium Enterprises (MSMEs) in Cross River State now have access to BOI’s development finance and business advisory services.

According to him, the establishment of the state office would further strengthen the existing partnership between BOI and the Cross River State Government and improve their service Turn-Around-Time to their customers.

FEC Approves Provisional Licence For Maritime University In Delta

FECThe Federal Executive Council (FEC) has approved a provisional licence for the establishment of the Nigerian Maritime University, at Okerenkoko in Delta State.

The Minister of Information, Mrs Patricia Akwashiki, while briefing State House correspondents, after the council meeting, presided over by President Goodluck Jonathan.

The Federal Government had also approved a revised national policy on Micro Small and Medium Enterprises (MSMEs) and the report of the ministerial committee on the harmonisation of taxes and levies.

The Minister of State for Trade and Investment, Mr Kenneth Kobani, and Minister of Interior, Mr Abba Moro, both expressed that the revised policy was part of efforts by government to ensure that the sector contributes to the national economy.

They also briefed on the approvals for the renewal of contract for the provision of passports for Nigerians.

FEC also approved four road projects valued at about N30.8 billion for the Niger-Delta Ministry, which were said to have been earlier given anticipatory approvals last year.

Jonathan Inaugurates National Council On MSMEs

Goodluck-Jonathan_President_of_NigeriaPresident Goodluck Jonathan has inaugurated the National Council on Micro, Small and Medium Enterprises (MSMEs) at the Presidential Villa, Abuja.

He gave the council a mandate to develop, support and grow small businesses in Nigeria and turn the country into a land of opportunities, where hopes become a reality irrespective of where one comes from.

The President also pledged that his administration would ensure that the economy works for all Nigerian people.

The council, which had Vice President Namadi Sambo as Chairman, comprises of representatives of governors from all the six geopolitical zones, represented by the governors of Abia, Benue, Kaduna, Gombe, Bayelsa and Ogun states.

President Jonathan observed that Nigeria has the largest population of youths that can be used to drive change and called on the council to work assiduously to eradicate poverty and make the Nigerian people live in dignity.

He charged the council to develop a detailed financial value chain so as to address the difficulties put in the way of small businesses in their efforts to access finances.

He said that by the initiative, all the 774 Local Governments must be covered, hoping that MSME offices would be made to operate in all the 36 states of the federation.