CBN To Ease Access To Funds For SMEs

Godwin-Emefiele-Governor-of-Central-Bank-NigeriaThe Central Bank of Nigeria (CBN) has promised to streamline logistics and mechanisms to ease access to funds for the development of the Small and Medium Scale Enterprise (SMEs).

The Governor of the apex bank, Mr Godwin Emefiele, who announced the plan on Tuesday, said that of the 220 billion Naira earmarked for the sector in 2014 only about 80 billion Naira had been accessed so far.

He gave the update during the fact finding mission of the Presidential Task Force on Agricultural Commodity and Production led by the Governor of Kebbi State, Abubakar Bagudu.

Also at the meeting was the Governor of Ogun State, Mr Ibikunle Amosun, who asked for more funds for cooperative societies in the agricultural sector to grow the state’s economy.

Earlier, the task force was taken round some of the farms in the state, where the farmers laid bare their demands, with access to financing topping their list.

The coordinator of Eriwe Fish Farm Village, Professor Olanipekun Alausa, spoke on behalf of some fish farmers in the state before they moved from farm to farm in Ijebu Ode, Kotopo Greenhouse Farm in Abeokuta and Eweje Farm Settlement.

The task force members were conducted round the farms where the CBN governor assured the farmers of easy access to SMEs funds.

The Minister of Agriculture, Audu Ogbeh, also reeled out some of the plans of the Federal Government for the sector for cooperative societies in the state.

Findings by this task force is expected to form the fulcrum for the extended Anchor Borrowers Programme of the Federal Government for the state.

Economic Recession: Speaker Dogara Asks Nigerians To Be Patient

Dogara, Kano KillingThe Speaker of the House of Representatives in Nigeria, Mr Yakubu Dogara, has asked citizens to be patient and have unwavering confidence in the future of the nation’s economy which is in recession.

He reassured them that the Federal Government would find solutions to the current economic recession.

Nigeria’s economy had officially slipped into recession few weeks, after a report by the National Bureau of Statistics showed that the nation’s Gross Domestic Product contracted.

According to the report, the decline of 2.06% in the second quarter of 2016 has caused the Naira to get weaker while lower oil prices dragged the oil sector down.

The output shrunk by 0.36 in the first quarter.

During the quarter, nominal GDP was 2.73% higher at 23.48 million Naira at basic prices.

This growth was lower than the rate recorded in the second quarter of 2015 by 2.44% points.

Mr Dogara made the call in Abeokuta, the Ogun State capital on Friday after a meeting with the Ogun State Governor, Mr Ibikunle Amosun, at the Government House in the state’s capital.

Reacting to the state of emergency on the economy by the Nigeria Governors Forum, the Speaker said that the forum was entitled to its opinion.

He told reporters that the members of the House of Representatives would soon come out with their own views on the economy.

Few days ago, the President of the Senate and the leader of the National Assembly, Senator Bukola Saraki, had assured Nigerians that the upper legislative chamber would continue to work towards ensuring that things get better for Nigerians.

Senator Bukola Saraki made the promise while addressing reporters after he joined President Muhammadu Buhari at the Presidential Villa, in Abuja, to observe Jumat service on September 9.

“We Will Overcome”

He appealed to Nigerians to bear with the administration, as it strives to bring the country out of the current economic recession.

“We will continue to appeal to Nigerians to bear. We know we are all going through difficult times.

“In every country, people go through challenges. But with prayers and support, we will overcome it.

“The most important thing is for us to stay together and give each other support and continue to believe in this great country,” he stated

Amosun Lauds Bamidele Aturu’s Commitment To Democratic Principles

ibikunle amosunThe Ogun State Governor, Mr Ibikunle Amosun, has expressed deep shock at the news of the passing of a foremost politician and Human Rights activist, Mr Bamidele Aturu.

In a statement by his Senior Special Assistant on Media, Mrs Olufunmilayo Wakama, on July 10, Amosun said that he was greatly saddened by the news of the sudden death of the prominent lawyer, coming at a time when his wealth of experience was mostly needed in reshaping the destiny of the nation.

Mr Amosu hailed the strong commitment of the politician to the enthronement of democratic principles in the country.

“This is so sad; the law profession has lost another bright star. Bamidele Aturu was passionately committed to the enthronement of democratic principles and the emancipation of the marginalized and oppressed. He has done his bit and certainly left his footprints on the sands of time”, the Governor said.

Mr Amosun commiserated with the family of the deceased, the Nigerian legal profession, the Human Rights community as well as his friends and political associates.

He prayed to the Almighty God to grant his soul eternal rest and give the family the fortitude to bear the irreparable loss.

Amosun Visits Channels Television

The Governor of Ogun state, Mr Ibikunle Amosun has promised to collaborate with the management and staff of Channels Television in a partnership with his administration, to showcase the developmental works in Ogun state.

The governor made a brief stop at the station’s headquarters in Isheri North a border town between Lagos and Ogun state while on an inspection tour of projects in Ifo local government area of Ogun state.

He was received by the Chairman/Chief Executive Officer of Channels Television, Mr John Momoh, and management staff of Channels Television.

Ogun Signs MoU With Chinese Company To Build Monorail

The Ogun State Government has signed a Memorandum of Understanding (MoU) on light rail mass transit with the China Civil Engineering Construction Company (CCECC) that will link major cities in the state as well as boost its economy.

While signing the MoU in his Oke-Mosan Office in Abeokuta, the state Governor; Mr Ibikunle Amosun said this became necessary in order to reposition the state for economic development and prosperity.

The Governor stated that it was imperative to boost transportation in the state since the state population is projected to rise significantly over the next couple of years.

While signing the MOU in his office, the state governor, Mr Ibikunle Amosun, noted that there could be no development without infrastructure.

“We have been doing our best on roads but it is high time we paid attention to rail as well. We are starting the mass transit within Abeokuta metropolis. This will be extended to all our major towns including the Ado-Odo/Ota axis up to the areas bordering Lagos,” he said.

Amosun noted that it was imperative to boost transportation in the state in anticipation of significant rise in population over the next couple of years.

In his remarks, the Managing Director of China Civil Engineering Construction Company, Mr. Cao Bao Gang, lauded the Senator Ibikunle Amosun-led administration for its vision, pointing out that “the project on completion will enhance the transportation system and contribute to the economic development of the Gateway State.’’

He assured the governor that quality would be the firm’s watchword in the implementation of the contract.

“The project will provide jobs for residents and help the unskilled ones to gain adequate knowledge through training and involvement in the whole process.”

The signing of the MOU was witnessed by government officials including the Secretary to the State Government, Barrister Taiwo Adeoluwa, Attorney-General and Commissioner for Justice, Mrs. Abimbola Akeredolu, Commissioner for Commerce and Industry, Otunba Bimbo Ashiru, Commissioner for Information and Strategy, Alhaji Yusuph Olaniyonu.

Ogun Creates 2,000 Jobs Via Road Construction

The Governor of Ogun State, Mr Ibikunle Amosun, has revealed that over 2,000 jobs have so far been created from the on-going road projects in various parts of the state.

The governor disclosed this in Abeokuta during an inspection of road projects in the state capital.

He expressed satisfaction with the compliance by the contractors to engage the services of indigenes in executing the various projects.

“This is a good development; our artisans are fully engaged throughout the state. We are not just building roads, we’re also providing employment for our teeming youths and that actually gives them a sense of ownership of the projects,” the governor said.

Amosun had earlier directed contractors handling various road projects across the state to ensure that 90 per cent of the needed materials and personnel were sourced locally.

From Onikolobo to Panseke, Itoku to Abiola road, at every point where the governor visited, artisans, ranging from iron benders to welders and other labourers, were seen working with the contractors.

The artisans expressed satisfaction with the governor’s directive and thanked him for giving them the opportunity to showcase their expertise.

FG Designs New National Industrial Revolution Plan

In a bid to develop the non-oil sector of the nation’s economy and fast-track industrial development, the Federal Government has announced that it is developing a national industrial revolution plan to give impetus to other spheres of the economy.

The Minister of Trade and Investment, Mr. Segun Aganga, made this disclosure in Ijebu Mushin, Ijebu East Local Government Area of Ogun State during a facility tour of Tulip, a private cocoa processing factory located in the area.

While expressing the commitment of the Federal Government towards industrial revolution, the Minister urged Nigerians and the international community to focus less on those negative things about the country.

The Governor of Ogun State, Mr. Ibikunle Amosun who was represented by the state Commissioner for Commerce and Industry, Mr. Bimbo Ashiru, used the occasion to assure investors in the state of adequate security and conducive atmosphere for business growth and development.

The occasion also witnessed the signing of a tripartite Memorandum of Understanding by the Federal Government, the Kingdom of Netherlands and the cocoa processing factory in Ogun State.

Abeokuta Gets First Flyover Bridge

The first flyover bridge in Abeokuta, the capital of Ogun State, was on Thursday commissioned by the state governor, Mr Ibikunle Amosun.

This will be the first bridge to be constructed in the entire state since its creation in 1976.

The four-lane overhead bridge begins at the end of Lalubu road and opens into the newly expanded lane Ibara-Totoro road.

Speaking at the ceremony, Governor Amosun said the massive investment in infrastructure was in fulfillment of his electoral promises to the people of Ogun State.

He noted that the new bridge would aid movement of goods and services, ease flow of traffic, reduce manpower-time wasted on the road, thereby improving the productive time of every individual plying the road.

“Our goal is to put our state in the league of advanced economies and make it investors’ destination of choice not only in Nigeria but sub-Saharan Africa.”

“To achieve this, we will continue to rehabilitate existing infrastructure and construct not just modern but high-tech infrastructure that will enhance the magnificence of our environment and act as a catalyst for our socio-economic development,” he said.

While expressing gratitude to residents, “especially those whose properties gave way to these beautiful edifices that we are constructing across the state”, the Governor urged them to exercise more patience and continue to support the administration in its mission to rebuild Ogun State.

He also called on the private sector to take advantage of the enabling environment being provided and partner with the state government to create wealth and achieve good returns on investment.

In his welcome address, the state Commissioner for Works and Infrastructure, Mr. Lekan Adegbite, said the flyover bridge was a product of the vision of Governor Amosun to transform the state.

He explained that every project in the state “complies with the Ogun Standard, which sets benchmarks for others.”

In their separate goodwill messages, Head of Interim National Government, Chief Earnest Shonekan, National Chairman of Action Congress of Nigeria (ACN), Chief Bisi Akande, National Leader of ACN, Chief Bola Tinubu and Leader of Ogun ACN, Chief Segun Osoba, all lauded the achievements of the state government in the area of urban renewal.

According to the national leader of ACN, “Amosun is an actualizer of our dream and vision” as he referred to the policies of the party.

The Alake of Egba land, Oba Adedotun Gbadebo, likened the unveiling of the first ultra-modern flyover bridge to the day “electricity, pipe borne water and railway first came to Abeokuta.

“Amosun has changed the city from the status of 19th century to the 21st century” the monarch stated.


Amosun Suspends Executives Of Ijebu East LGA

The Governor of Ogun State, Mr Ibikunle Amosun has suspended all officials of the executive and legislative arms of Ijebu East Local Government Council for a period of 90 days.

This was announced on Monday in a press statement signed by the Secretary to the state government, Mr Taiwo Adeoluwa, which stated that the governor has “Approved the suspension of the Executive and Legislative arms of the Ijebu East Local Government Council for a period of 90 days in the first instance.”

According to the statement, the Head of the Local Government Administration (HOLGA) will administer the Council pending further directives and the outcome of the panel of inquiry into the affairs of the local government as ordered by the Governor.

The four man panel of inquiry which has Chief Wole Adesiji (Chairman), Mrs Ayoola Afolabi (member), Mr Bayo Adeyemi (member) and Barrister James Kolawole Omotosho of the Ministry of Justice as Secretary.

The committee is expected to submit its report within 14 days.

“The suspended Chairman, his deputy, all Councillors and political appointees have however been directed to stay away from the Council premises and affairs of Government during the period of suspension”, the statements added.

The governor is authorized to make such suspension due to “his powers under Sections 39 and 43 of the Ogun State Local Government Law.”