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Sen. Abiru Organises Training for 1,000 MSMEs, Announces N100m Loan

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The Chairman, Senate Committee on industries, Sen. Adetokunbo Abiru (APC-Lagos East), on Monday organised a capacity development training for 1,000 Micro-, Medium- and Small-Enterprises (MSMEs) in Lagos East Senatorial District.

Aburi, in a statement by Mr Seye Oladejo, the Lagos State Publicity Secretary of the All Progressives Congress (APC), also announced N100 million Constituency Intervention Revolving loan for MSMEs.

Abiru said that the training was to enhance the capacity of business owners, adding that the lack of capacity had been identified as one of the major reasons MSMEs fail.

He said that the one-day MSME Clinic/Workshop was organised in conjunction with “The Fate Foundation”, and had figures in MSMEs ecosystem in attendance.

Highlighting the critical roles MSMEs play in the nation’s economic development, Abiru said ‘that MSMEs accounted for the majority of businesses worldwide and were important contributors to job creation and global economic development.

According to him, MSMEs represent about 90 per cent of businesses and more than 70 per cent of employment worldwide.

‘’Formal MSMEs contribute up to 40 per cent of national income (GDP) in emerging economies. These numbers are significantly higher when informal SMEs are included.

“The latest SMEDAN/NBS MSME Survey indicates that Nigeria’s SMEs contribute nearly 50 per cent of the country’s GDP and account for over 80 per cent of employment in the country.

“It has been projected by the World Bank that about 600 million jobs will be needed by 2030 to absorb the growing global workforce, which makes SME development a high priority for many governments around the world.

“In emerging markets, most formal jobs are generated by SMEs, which create 7 out of 10 jobs,” Abiru said.

The senator said that it was instructive to assist the struggling businesses who were mostly impacted by the devastating COVID-19 pandemic with workable business solutions in the new normal world.

He said that the “Knowledge Pack”, a combination of seven books written by foremost experts, which participants got for free, were reference materials for now and future for them.

He added that the book contains secret of success of most major businesses.

“Timeless and highly valuable literature on subjects of Tax Management, Human Capital, Financial Management, Marketing and Communications, Strategy, Legal and digital technology will be made available to you at the expense of my Foundation.

“The leading Nigerian Entrepreneur pack is a practical “do-it-yourself manual” that will greatly aid your business decisions and strategies as you journey along.

Meanwhile, Abiru announced the launching of N100 million soft business loans to support trained MSMEs owners with working capital, as well as asset finance for equipment acquisition at a highly subsidised interest rate.

“The N100 million constituency Intervention revolving facility which be executed in partnership with Small- and Medium-Enterprises Development Agency, SMEDAN, with a minimum limit of N100,000 and maximum of N1 million.

“It is with as low as 6 per cent interest rate with flexible repayment plan from 1 to 12 months, starting from Q1, 2022,” he said.

The senator, however, mulled plans to increase the revolving facility in the same sum on yearly basis.

He said that the Bank of Industry (BOI) also agreed to commit additional N100 million to the scheme.

A former Lagos State Commissioner for Finance and member, Governor’s Advisory Council, Mr Olawale Edun, described the business aid as a great initiative.

Also, a former Minister of Works, Sen. Adeseye Ogunlewe, urged other elected public office holders to learn from the giant strides of Abiru.

Ogunlewe urged participants to place premium on the knowledge they had acquired in the course of the workshop and business clinic. (NAN)

POLITICS

Nigeria not Ripe for Diaspora Voting – NBA Official

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Mr Auta Nyada, the Chairman of the Nigeria Bar Association (NBA) Legal Education Committee, says Nigeria is not ripe enough for Diaspora voting.
Nyada said this at the Multi-stakeholders’ Forum on Youth Electoral Reform Priorities on Wednesday in Abuja.

He said that although the idea of Diaspora voting had been raised by many groups in recent times, the electoral system was not matured enough to accommodate it.

Nyada advised the Independent National Electoral Commission (INEC) to concentrate on addressing the loopholes observed in the 2023 general election and the other off-cycle elections rather than delve into Diaspora voting.

“Diaspora voting is actually a good idea, but for me, I don’t think that Nigeria has reached the stage for Diaspora voting, introducing Diaspora voting will require a lot to be successful.

“Nigeria is still struggling with the operation of the Bimodal Voter Accreditation System (BVAS) and people are talking about Diaspora voting.

“We are witnesses to the malfunctioning of the BVAS in the 2023 general election, I think we should work toward rectifying the problem, instead of talking about Diaspora voting, ” he said.

Nyada said that Nigeria must put in a watertight technology before thinking about Diaspora voting.

“So many foreigners are getting the National Identification Number (NIN) in spite of the stringent regulations by the National Identity Management Commission (NIMC).

“If you introduce Diaspora voting today in Nigeria, all black people in the world could decide to vote as Nigerians.

“We don’t have a watertight security system to identify genuine Nigerians from others, I think Diaspora voting is for future and not now, ” he said.

Nyada also called for the amendment of the Electoral Act to ensure that all election matters were terminated before elected officials were sworn in.

“You can’t expect me to have a control over the state power apparatus and still expect me to lose an election case in court, it is really impossible, ” he said. (NAN)

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POLITICS

PDP NWC passes Vote of Confidence on Damagum

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The National Working Committee (NWC) of the Peoples Democratic Party (PDP) has passed a Vote of Confidence on the party’s Acting National Chairman, Mr Umar Damagum.

The party’s National Publicity Secretary, Mr Debo Ologunagba said this in a statement on Wednesday in Abuja.

He said the vote of confidence was passed at the NWC’s 584th meeting on Tuesday in Abuja.

Ologunagba said the decision was based on Damagum’s efforts aimed at repositioning the PDP as the main opposition party in Nigeria.

The National Executive Council meeting of the party had be slated for Thursday to either affirm Damagum as the Chairman or appoint a replacement.

Damagum was appointed as the Acting Chairman following the suspension of the former chairman,
Chief Iyorcha Ayu in 2023.

(NAN)

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POLITICS

We Shall Return to Aso Villa in 2027 – PDP Reps Caucus Says

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The Peoples Democratic Party (PDP) caucus in the House of Represebtatives says it must regain the presidency it lost in 2015, as the seat of power had “become our party’s birth right”.

Rep. Chinda Kingsley, the leader of the minority caucus in the House, said this while briefing newsmen after the third meeting of PDP lawmakers in Abuja, on Tuesday.

“We are going back, as we resume the session to commence a strong, virile and purpose-driven opposition to give the people a voice in the parliament,” the Caucus said.

The lawmakers issued a three-months ultimatum to the Federal Government to normalise the security situation in the country.

According to him, government must immediately take steps to ensure that the security situation in the country is normalised.

“We x-rayed the security situation in our country and we resolved that we can no longer take this situation where Nigeria is today almost tagged as ‘one life, one minute silence’.

“After three-months, the caucus will take further steps to sensitise and mobilise Nigerians to take their security into their hands,” the legislators said.

He said the caucus also agreed to call on all party caucuses, the board of trustees, national executive committee and the national working committee of the party to embark on reconciliatory measures.

This, according to him, is with the view to resolve all litigations that are pending and have hindered the party’s quest for a substantive national Chairman.

He called on leaders of the PDP to continue to demonstrate unconditional loyalty to the party and ensure that the party is placed where she enjoyed the position of the largest party in Africa.

He said that PDP members in the House of Reps were united, indivisible, committed and out to perform their duty as the watchdog on behalf of the Nigerian people.(NAN)

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