Connect with us

Politics

Federal Government to start disbursement of N200b intervention fund to MSMEs and manufacturers

Published

on

Uzoka-Anite
Spread the love

The Federal Government says it will soon commence the loan disbursement process for micro, small and medium enterprises (MSME) and manufacturers under the Presidential N200 billion Intervention Fund scheme.

President Bola Tinubu launched the scheme on October 17, 2023, to cushion the effects of the removal of petrol subsidy.

Announcing the disbursement of the funds, Minister of Industry, Trade and Investment, Doris Uzoka-Anite, in a statement yesterday, noted that the decision was taken following the success of the ongoing disbursements targeted at supporting one million nano businesses across the country.

According to her, N75 billion each has been allocated to support MSMEs and the manufacturing sector under the Presidential Intervention Fund. This is in addition to the N50 billion set aside to support the nano businesses.

 

Uzoka-Anite said;

“The Federal Government of Nigeria is proud to announce the operational launch of the MSME and Manufacturing segment under the prestigious Presidential N200 Billion Intervention Fund.

 

“With applications for the Presidential Conditional Grant Scheme now closed, we are excited to move forward with the loan disbursement process for the MSME and manufacturing sectors, aimed at boosting economic growth and industrial development.

“This fund is strategically divided, dedicating N75 billion to MSMEs and another N75 billion to the manufacturing sector.
“We are pleased to report that the initial disbursement to nano businesses has been met with success, and we are well on our way to supporting one million nano businesses throughout the country.
“Thousands of beneficiaries have already confirmed receipt with many more to come.

“We invite eligible enterprises to join this transformative initiative. To apply, please visit our official application portal at www.fedgrantandloan.gov.ng.
“Additionally, applicants seeking more detailed information should visit their local state Bank of Industry (boI) branch.”

Politics

Imo Govt, Afrexim Bank perform ground breaking of African Quality Assurance Centre

Published

on

Spread the love

GOVERNMENT OF IMO STATE

PRESS RELEASE

Imo Govt, Afrexim Bank perform ground breaking of African Quality Assurance Centre

Imo State government and officials of the Africa Export-Import Bank(Afrexim Bank) have laid the foundation of the building of African Quality Assurance Centre located on Sam Mbakwe International Cargo Airport Road, Ngor Okpala, Imo State.

The ground breaking ceremony weekend, was performed by officials of Imo State Government and those of the Afrexim Bank led by their Manager Export Development, Mr. Amr Ali.

Speaking during the brief, but critical ceremony, Governor Hope Uzodimma who was represented by his Commissioner for Industries, Mines and Solid Minerals, Hon. Earnest Ibejiako, described the facility as “a unique and important institution that will not only encourage the production of goods by industries, but will also remove trade barriers in the global market, as it affects Nigeria and Africa in general.”

He said the Centre will test products for export from the region in particular and country in general, ensuring they certify international standard requirements, adding that “it will encourage capacity building of industries in Nigeria, as it is only the second of the Centre in the country.”

The Commissioner added: “With the presence of the Centre in the State, industrialists who wish to produce for the international market will be trooping to establish their industry in the State, since it will be easy for them to test their products and be able to export and import.”

He applauded Governor Uzodimma’s efforts in attracting the Centre to the South East and Imo State in particular, adding that, “it is in line with the Governor’s passion to make the region an industrial hub of Nigeria and West Africa at large.”

Ibejioko however advised indigenes of the host community to “support the project, cooperate with the construction company and ensure there is no security threat to both workers and their materials.”

Earlier in his remarks, the Manager, Export Development of Afrexim Bank, Mr. Amr Ali
said, in line with its mandate, Afrexim Bank has introduced African Quality Assurance Centre initiative, to address non tariff barriers to African trade.

He said the Centre will “offer testing, inspection and certification services for made in Africa products.”

Ali also noted that the Centre will ensure that African goods meet best international standards, enabling them to compete effectively in the global market.

He added: “The facility in Imo State is a significant step towards vision, as it will offer critical quality assessment services.”

Ali maintained that the Centre’s services will address the pressing need for quality assurance assessment in the Oil and Gas Sector.

“A study revealed that Imo State is strategically positioned for the project, because of the increase of Oil and Gas activities and proximity to resource regions,” Ali explained.

The Afrexim Bank representative further said that the Centre located in Imo State will bridge the gap of sending oil and gas and other products for export from Nigeria abroad for quality assurance tests.

He therefore solicited the support of the government and people of Imo State to bring the project to fruition, observing that “the current administration’s commitment to fostering development and innovation is commendable.”

The event was witnessed by the Governor’s Chief Political Adviser/ Head of Political Adviser, Barr. Enyinaya Onuegbu, the Chief Technical Advisor to the Governor, Dr. Bola Adigun, the General Manager, Owerri Capital Development Authority (OCDA), Mr. Nzewodo Nkemakolam, the General Manager Imo State Orientation Agency (IMSOA), Dr. Ethelbert Okere, among others.

Oguwike Nwachuku
Chief Press Secretary and Media Adviser to the Governor
December 14, 2024.

Continue Reading

Politics

PDP Backs Wike: Says ‘He Has Always Been There for Us’

Published

on

Spread the love

 

Ekwutosblog has gathered that the Peoples Democratic Party (PDP) has reiterated its strong support for Nyesom Wike, the Minister of the Federal Capital Territory, commending his loyalty and contributions to the party.

At a book launch held in Wike’s honour, the Deputy National Chairman (South) of the PDP, Taofeek Arapaja, emphasized that despite internal party challenges, including members with an “entitlement mentality,” Wike continues to earn admiration and respect. Arapaja described Wike as one of the most devoted and loyal leaders the party has ever had.

He stated: “Our mentor and principal, who has never left the PDP for a day, is one of the most committed and loyal party leaders we have ever had. He has done well, he is doing well, and we wish him well in all his future endeavours.”

Arapaja praised Wike’s steadfast advocacy for equity, justice, and fairness, highlighting his leadership role in the G5 group and his consistent support for fellow party members. He contrasted this with some leaders who only engage with the party when seeking help, affirming Wike’s integrity and dedication.

“We know you, and we always love and appreciate you. Some people believe in entitlement mentality, but we will always stand by you because you are a man of integrity, honour, and a performer,” Arapaja remarked.

The PDP official also responded to recent criticisms made by Senate President Godswill Akpabio about the party. Arapaja expressed disappointment in Akpabio’s negative remarks, pointing out that the Senate President, who was previously Governor of Akwa Ibom State under the PDP, owes much of his political career to the party.

“The foundation of all political parties is the PDP. I am surprised when someone who is a product of the PDP speaks negatively about it,” he said.

Arapaja further acknowledged Akpabio’s performance as governor under the PDP, noting, “Nobody can dispute the fact that the present Senate President Godswill Akpabio about the party. Arapaja expressed disappointment in Akpabio’s negative remarks, pointing out that the Senate President, who was previously Governor of Akwa Ibom State under the PDP, owes much of his political career to the party.

“The foundation of all political parties is the PDP. I am surprised when someone who is a product of the PDP speaks negatively about it,” he said.

Arapaja further acknowledged Akpabio’s performance as governor under the PDP, noting, “Nobody can dispute the fact that the present Senate President performed during his tenure as governor under the PDP.”

Share your thoughts…

Kindly follow Ekwutosblog for verified News and Current Affairs in addition to insightful contents that inform, inspire, educate and entertain you always.

Continue Reading

Politics

INEC to phase out PVCs, plans Diaspora voting INEC Chairman, Mahmood Yakubu

Published

on

Spread the love

 

The Independent National Electoral Commission has proposed sweeping reforms to improve the country’s electoral system, following lessons learnt from the 2023 general elections and subsequent off-cycle polls.

Among the reforms being proposed are diaspora voting and phasing out of the use of Permanent Voter Card during elections.

The INEC Chairman, Prof, Mahmood Yakubu, disclosed these on Thursday in Abuja during a meeting with Resident Electoral Commissioners.

He stated that INEC would soon present these proposals and more to the relevant committees in the Senate and House of Representatives.

He said, “Among the major highlights of the commission’s recommendations is the imperative of legal clarity in result management, with regard to manual transfer versus the electronic transmission of results.

“The commission also believes that with the introduction of the Bimodal Voter Accreditation System, the use of the Permanent Voters’ Cards as the sole means of identification for voter accreditation on election day should be reviewed. Those who already have the PVCs can still use them to vote, but going forward, computer-generated slips issued to the voter or even downloaded from the commission’s website will suffice for voter accreditation.

“This will not only save cost, it will also eliminate the issues around the collection of PVCs and the diabolical practice of buying up the cards from voters in order to disenfranchise them.

There are also recommendations in support of diaspora voting, the unbundling of the commission with the establishment of electoral offences tribunal and a separate agency to handle the registration and regulation of political parties.

“Similarly, the commission will step up action on voter access and distribution to polling units.”

INEC Chairman explained that these recommendations were captured in a 524-page review report on the 2023 general elections

He said, “With the conclusion of five major off-cycle governorship elections and nine out of 21 bye-elections since the 2023 general elections, this is the most appropriate time for us to commence the implementation of the recommendations arising from our review of the general elections.

“From the internal and external engagements, the commission has identified 142 recommendations dealing with the general state of preparedness, voter management, voter education and public communication, political parties and candidate management, electoral operations and logistics management, election officials and personnel, partnership and collaboration, monitoring and supervision, election technology, voting and result management, election security, electoral offences and the electoral legal framework,” the chairman said.

Of these, 86 require administrative action by the commission, 48 depend on collaboration with stakeholders such as security agencies and civil society organizations, and eight involve legislative amendments by the National Assembly.

Yakubu noted, “Out of the 142 recommendations, 86 require administrative action by the commission. It is therefore pertinent that we engage first with our Resident Electoral Commissioners because of your frontline role in the implementation of the recommendations.

This is followed by 48 recommendations that require action by a variety of stakeholders, including security agencies, mobile network operators, statutory bodies, political parties, transport unions, civil society organisations and the media.

“On the legal review, there are eight recommendations that require legislative action by the National Assembly. Very soon, the commission will make a presentation to the Joint Committee of the Senate and House of Representatives on Electoral Matters as they continue to deliberate on electoral reform.”

Central to the proposed reforms is a push for legal clarity on result transmission, specifically the roles of manual and electronic methods.

Yakubu noted that the introduction of the Bimodal Voter Accreditation System has highlighted the need for a more streamlined process.

He suggested the possibility of replacing Permanent Voter Cards with computer-generated slips or downloadable credentials for voter accreditation, a move aimed at reducing costs and eliminating voter card-buying schemes.

Yakubu also revealed plans to introduce early and diaspora voting to accommodate citizens unable to vote at their registered polling units, including INEC staff, security personnel, and Nigerians living abroad.

Additionally, INEC is advocating the unbundling of its responsibilities, with proposals for the establishment of an electoral offences tribunal and a separate agency to oversee political party registration and regulation.

Other key areas of reform include cleaning the voters’ register in collaboration with the National Identity Management Commission and enhancing partnerships with transport unions to ensure the timely deployment of election materials.

The commission also plans to intensify voter education campaigns to combat misinformation and promote greater participation by marginalised groups.

“As a matter of urgency, the commission also intends to develop protocols for the cleaning up of the voters’ register in collaboration with other agencies such as the National Identity Management Commission and the National Population Commission. Other areas of reform include advocacy for affirmative action for greater participation of under-represented groups, a more robust voter education and public communication to combat fake news and misinformation,” Yakubu stated.

The recommendations, documented in a comprehensive report, will soon be made available to the public in hard and soft copies.

Yakubu urged the RECs to engage deeply with the report and contribute to the development of a more efficient and inclusive electoral system.

Continue Reading

Trending