NIGERIAN NOTCH

The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, has identified lack of accountability in the use of taxes in Nigeria as one of the major issues preventing Micro, Small and Medium Sized Enterprises (MSMEs) from paying taxes to the government. Anite said the government used taxes received to improve the local business environment. Speaking at the 18th Abuja International Trade Fair organised by the Abuja Chamber of Commerce and Industry (ACCI), the minister stated that paying taxes by many small businesses and MSMEs is scary as they contend with tight profit margins. She, however, said financing and taxation could play a crucial role in driving a new economy in Nigeria, especially for MSMEs. According to her, “MSMEs are an essential part of our economy and contribute significantly to economic growth and development. A key focus for me is consumer credit reforms. Imagine what access to affordable credit could do for your businesses.” She added that consum...

The Nigerian government says it has earmarked a fund of 75 billion naira to support up to 100,000 start-ups and Micro Small and Medium Enterprises MSMEs at single digital interest rates repayable over 36 months. The Nigerian Minister of Industry Trade and Investment, Dr Doris Uzoka-Anite said this during the opening ceremony of the 18th Abuja International Trade Fair organised by the Abuja Chamber of Commerce and Industry in Abuja, Nigeria’s capital. The minister who was represented by the Ministry’s Director Commodities and Export, Mr. Irimiya Kaura disclosed that the sum of 75 billion naira has also been earmarked in order to strengthen the manufacturing sector in response to the  current economic challenges. “We also intend to provide small grants to micro businesses in each to the 774 local governments of the federation,” she said. “As a government we are working hard to organize the disorganized SME market, and enable greater organization and formalization, We are ...

Poor execution of projects in the Country has got the Minister of Works, Dave Umahi worried, lamenting that all ongoing federal road projects are products of substandard construction none of which can last seven years. According to Umahi, except President Bola Tinubu does something to address the procurement system in the Country, “his lofty intention to help this country may not be achieved.” Umahi who is a certified Engineer premised his assertion on the inference drawn from findings gathered during his recent road inspection tour crisscrossing the entire nation. The former Governor of Ebonyi State noted that from the tour it was discovered major roads are riddled with potholes which he said have deteriorated into “boreholes.” While addressing contractors from the six geo-political zones at the Ministry headquarters on Tuesday, in Abuja, the Minister expressed dissatisfaction over the poor work done by contractors over the years Umahi who lamented the contractors have che...

The President of the Senate, Senator Godswill Akpabio, has felicitated the Muslim Umma on the occasion of this year’s Maulud Nabiy describing it as another opportunity to reminiscence on the virtuous legacies left behind by the Holy Prophet, (SAW) In a message issued on his behalf  by his Special Adviser on Media and Publicity Hon Eseme Eyiboh, the Senate President said Prophet Mohammed (S.A.W.) left behind positive marks on humanity for which his followers should emulate. Noting the need to be supportive of authority, Senator Akpabio enjoined the faithful to increase their prayers for those in authority and for the nation. “The occasion of the birthday of the Holy Prophet is a reminder to all adherents of the Islamic religion to rededicate themselves to prayerful support for those in authority and for the nation,” Senator Akpabio was quoted as saying. “Even more, it is an opportunity for everyone of us to devote ourselves to uncommon godly citizenship and love for one ...

The Nigerian Government announced that it will prioritise the processing of raw materials in Nigeria in order to give job opportunities to Nigerian youths and women.  This was disclosed in a statement by Mr Tunde MacAlabi, the Chairman of the Organising Committee for the Business, Trade and Investment Summit component of the Africa International Trade Exhibition (AITE) 2023’s Business, Trade, and Investment Summit on the sideline of the 78th edition of the United Nations General Assembly (UNGA).  He said President Bola Tinubu restated his administration’s commitment to promoting ease of trade for Small and Medium Enterprises (SMEs) across Africa in the summit which was organised by Mr. MacAlabi; Prof. Tai Balofin, President of Nigerian Progressive Professionals and Ms. Khuraira Musa, Chief Executive Officer of K-Pro Consulting of New York.  SME’s  The President represented by the Minister of Trade and Investment, Dr Doris Uzoka-Anite, Tinubu said that the...

The hospital where late singer Ilerioluwa Aloba aka MohBad was allegedly taken to, has issued a statement concerning the singer’s death.   In a statement shared on Instagram by Perez Medcare Hospital, it was disclosed that the singer was brought in dead at the hospital.   The hospital also denied allegations that the singer was admitted into the hospital.   The statement partly read, “The attention of the management of Perez Medcare Hospital has been drawn to the misleading and false information being circulated in some social media platforms that Mr. Ilerioluwa Oladimeji Aloba (AKA Mobbed) died in our medical facility.   “We consider it pertinent to put on record that at about 04:30pm on the 12th of September 2023, the lifeless body of Mr. Ilerioluwa Oladimeji Aloba (AKA Mohbad) was brought to our medical facility and our medical team immediately sprang into action and after assessment, it was discovered that there was no sign of life, no central or peri...

The Federal Government of Nigeria has launched a programme called NATEP to boost youth employment in Nigeria. What is NATEP? NATEP simply means National Talent Export Programme, an initiative to enhance Nigeria's foreign exchange earnings. President Bola Tinubu which was represented by the Minister of Industry, Trade and Investment Dr. Doris Uzoka-Anite launched the program on the sidelines of the 78th United Nations General Assembly (UNGA), at the weekend. This new initiative seeks to position Nigeria as an export hub for talent outsourcing in Africa following the example of India, Bangladesh, Mexico and The Philippines. The unveiling of the programme took place at the Microsoft Office in New York, United States of America, on Friday, September 22, 2023. A number of dignitaries from multilateral institutions and global tech giants joined the Ministers of Industry, Trade and Investment and her counterpart from the Ministry of Communications Innovation and Digital Econom...

Dangote group’s Executive Director Devakumar Edwin has revealed that the refinery would sell petrol to Nigerians in US dollars and not Nigeria Naira. Dangote Refinery is set to begin refining petrol by November 30, 2023, and diesel and jet fuel operations by October 2023, the group’s executive director Devakumar Edwin says. In an interview with S&P Global Commodity Insights on Monday, Edwin added that the refinery would receive its first crude cargo in two weeks’ time and would begin producing up to 370,000 barrels per day of diesel and jet fuel in October 2023. Furthermore, Edwin pointed out that the refinery would initiate a gradual increase in petrol production, aiming to reach an impressive 650,000 barrels per day by November 30. He emphasised the refinery’s readiness to receive crude oil, stating, “Right now, I’m ready to receive crude. We are just waiting for the first vessel. And so, as soon as it comes in, we can start.” Regarding the shift in the original timel...

At the sidelines of the 78th Session of the United Nations General Assembly UNGA in NewYork; United States of America, Nigeria’s Minister for Industry, Trade and Investment; Dr. Doris Uzoka-Anite has launched the National Talent Export Programme, NATEP on behalf of President Bola Ahmed Tinubu in New York. This is in a bid to position Nigeria as a talent export hub designed to create not less than one million jobs in the next five years as a special purpose vehicle owning to its large population of teeming tech savvy youth doing well in all faucet of life. In her opening remarks at the launch of the initiative at the Microsoft office in NewYork; the minister highlighted the need to ensure Nigeria takes the lead in exporting global talents that are doing well across the world which will also drive a huge investment in training and also attracting more investment in talent exportation. She said that the initiative is in line with President Bola Tinubu’s Renewed Hope agenda to ...

The Anambra State Chapter of South East APC Young Progressives Forum, lead by it's national convenner Mr. Paschal Candle, has called out the Prof Charles Soludo's administration for what it's sees as a big deceit on the part of government, with the recent pronouncement of  free education programme in the state. In a press release made available to this newspaper by it's national convenner, the group frowned with dismay, the flagging off of Prof Charles Soludo's free education programme across all government owned nursery, primary and junior secondary school classes in Anambra State, a situation it sees as deceitful.  Recall,  the governor, recently abolished all fees, dues and levies running into several thousands hitherto being paid by students in these basic education classes in the state.  However, the group said that it's perplexed on how Governor Soludo will launch with fanfare a programme that is supposed to have been in existence since 2004. ...