Government News Society Posted on

BOI-FGN SINGLE DIGIT LOANS FOR MSMEs TO COMMENCE JAN 2024

Author admin 0 336

In keeping to President Bola Ahmed Tinubu’s promise to support the transformation of the MSME space in Nigeria, the Office of the Vice President in collaboration with @BOINigeria is set to commence the disbursement of loans to MSMEs by January 2024.

The loans, totalling about N75 billion, will be given to small businesses across the country at an interest rate of 9 percent.

The Federal Government and the Bank will leverage existing platforms to provide the loans to small businesses, targeting women and youths.

Recall that the Federal Government has since the coming to office of the Tinubu administration, collaborated with stakeholders across the public and private sectors to provide massive support for MSMEs both in grants and loans.

Recently, the management of Access Bank Plc approved an upward review of its loan scheme for MSMEs from N30 billion to N50 billion.

The upward review, according to the bank, is to increase the number of beneficiaries of the bank’s loan scheme and impact more livelihoods.

Leave a Comment

Your email address will not be published.

You may also like

Business Economy Environment Government Security Society Technology Technology Trends Telecoms Posted on

President Tinubu Strengthens ICT Sector with Landmark Protection Order

Author admin 0 22
post-image

 

The federal government has taken a decisive step toward securing Nigeria’s digital economy with the release of the *Designation and Protection of Critical National Information Infrastructure Order, 2024*. The gazette, approved by President Bola Ahmed Tinubu, was lauded by Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, as a transformative move to safeguard the nation’s technological assets and infrastructure.

Dr. Tijani emphasized the order’s pivotal role in reducing disruptions and intentional damage to critical ICT systems and infrastructure. “This is a significant step that will strengthen and protect investments in the ICT sector by reducing incidences capable of damaging the operations and functionality of our technological systems, infrastructure, and networks,” he stated.

The Nigerian Communications Commission (NCC) also commended the initiative, describing it as a critical milestone for the telecom sector. The Commission highlighted that the order would help mitigate recurring…

Read More
Autos Business Culture Economy Posted on

Igboland: A Rising Powerhouse in Car Manufacturing

Author admin 0 71
post-image

 

Igboland is steadily carving out a reputation as a hub for automotive innovation in West Africa, driven by the vision and determination of local entrepreneurs. With the presence of three car manufacturing and assembly companies—Innoson Motors, Roxettes Cars, and the emerging Omaa Motors—the region is becoming a focal point for Nigeria’s industrial transformation.

Innoson Motors, based in Umudim, Nnewi, Anambra State, stands out as a beacon of indigenous innovation. Founded with a vision to reduce Nigeria’s dependency on foreign imports, Innoson has achieved remarkable success by producing 80% of its vehicle components locally. This achievement reflects not only a deep understanding of local market needs but also a commitment to creating jobs and fostering economic growth within the region. Over the years, Innoson has become synonymous with quality and resilience, inspiring a new generation of African manufacturers.

In neighboring Abia State, Roxettes Cars,…

Read More
Business News Posted on

Faith Cathedral International Ministries Celebrates a Spirit-Filled Conclusion to Men Convention 2024

Author admin 0 157
post-image

 

On Sunday, November 17th, 2024, Faith Cathedral International Ministries in Egbeda, Lagos, held a moving Thanksgiving service to mark the conclusion of its week-long Men Convention 2024. The event, which brought together men from all walks of life within the church and the surrounding community, was a profound expression of faith, unity, and service to God.

The weeklong convention, which began with a series of spiritual activities and outreach programs, culminated in a powerful Thanksgiving service that resonated with the theme of steadfastness and spiritual responsibility. With the church’s auditorium filled with attendees, the air was thick with gratitude, as the congregation reflected on the transformative messages shared during the week.

Pastor Fred Obetoh, the church’s General Overseer, took to the stage to address the men of the congregation with a heartfelt sermon. In his message, Pastor Fred encouraged the men to remain unwavering in their faith despite the materialistic pressures…

Read More
Autos Business Culture Economy Posted on

ROXETTES MOTORS Makes a Strong Impression on Dr. Uche Sampson Ogah, Former Minister, as He Orders BLAZE-X Pick-up on the Spot

Author admin 0 87
post-image

 

ROXETTES MOTORS, a leading innovator in Africa’s automotive sector, has gained further recognition following a visit by Dr. Uche Sampson Ogah, the former Minister for Mines and Steel Development, at his country home in Uturu, Abia State. During this exclusive meeting, Dr. Ogah took the opportunity to test drive the company’s flagship vehicle, the BLAZE-X Pick-up, and was so impressed with its performance and build quality that he immediately placed an order for multiple units.

Dr. Ogah’s decision to order the BLAZE-X on the spot highlights the vehicle’s exceptional design and engineering, reinforcing ROXETTES MOTORS’ commitment to providing high-quality vehicles that not only meet but exceed the expectations of their customers.

“We are deeply honored by Dr. Ogah’s trust in our product and craftsmanship,” said a spokesperson from ROXETTES MOTORS. “His endorsement strengthens our resolve to continue pushing the boundaries of what’s possible…

Read More
Announcements Art Business Culture News Opinion Tourism Travels Trends Posted on

Chidinma Vanessa Adetshina: A Journey of Grace, Grit, and Glory

Author admin 0 68
post-image

 

Chidinma Vanessa Adetshina has shown the world what it means to rise above the odds. From her humble beginnings in South Africa’s Miss Universe competition to becoming the first runner-up at the prestigious global event in Mexico, her story is one of resilience, courage, and faith.

When Chidinma first stepped into the spotlight, she faced unexpected criticism. A video meant to showcase her talent instead drew harsh judgment, sparking debates and backlash. Yet, even as voices grew louder against her, she quietly pushed forward, earning a spot in the Top 16. When the pressure became unbearable, she made the brave decision to step away—not out of defeat, but to protect her peace.

Then, fate took an extraordinary turn. Given the chance to represent Nigeria, Chidinma embraced the opportunity despite the storm of petitions and opposition that followed her inclusion. Through it all, she…

Read More
Business Culture Economy Education Environment Government International Opinion Security Tourism Travels Posted on

Opinion: Lessons from Rwanda and the Lingering Divide in Nigeria

Author admin 0 123
post-image

 

By Dr. Joseph Ogundu

Rwanda’s journey from the ashes of civil war to a thriving, unified nation is nothing short of remarkable. When the brutal conflict ended, the country’s leaders made a conscious decision to abandon ethnic identities and embrace national consciousness. They prioritized unity and cohesion, ensuring that ethnic differences took a back seat to the greater goal of building a progressive, harmonious nation.

The United States offers a similar lesson in the aftermath of its civil war. American leaders worked tirelessly to reconcile their divisions, fostering a collective national identity. Over time, this effort helped to create one of the most dynamic and tolerant societies in the world, where diversity is celebrated as a strength.

In stark contrast, Nigeria stands as an unfortunate example of what happens when national unity is neglected. After the civil war, instead of fostering reconciliation and unity, Nigerian leaders opted for sloganism over genuine nation-building….

Read More
Business Economy Posted on

Over $370 million secured in Engineering, Procurement, and Construction deals at Afreximbank’s Lagos workshop

Author admin 0 84
post-image

During the recently held African Export-Import Bank (Afreximbank) (www.Afreximbank.com) Intra-African Engineering, Procurement and Construction (EPC) workshop in Lagos participants formalised business deals totalling over US$370 million, a significant step towards empowering African contractors.

 

The deals, signed during the workshop held in Lagos on 28 October, included a US$300-million Global facility agreement to Hassan Allam of Egypt, a US$45-million term sheet to Pavifort Construction of Sierra Leone and a US$25-million term sheet to Afric Cement of Burkina Faso.

Organised to help address the significant gap in Africa’s infrastructure spending, currently standing at over $100 billion annually, which is traditionally awarded to non-African contractors, the workshop brought together key stakeholders to explore transformative solutions to empower African contractors to compete for and secure large-scale projects within the continent.

Addressing the participants, Ayman El-Zoghby, Director, Trade and Corporate Finance Unit in Afreximbank’s Intra-African Trade Bank, said that the Bank was actively…

Read More
Business Economy Investments Technology Trends Posted on

Liquid C2 builds on strategic partnership with Cloudflare to introduce enhanced cyber security solutions

Author admin 0 133
post-image

Liquid C2, a business unit of Cassava Technologies has further solidified its strategic partnership with Cloudflare. The latter has appointed Liquid C2 as the first distributor of their new range of cyber security products in South Africa, a testament to Liquid C2 expertise and trustworthiness in the industry. In addition to South Africa, the company will make the solutions available to its partners in Namibia, Zimbabwe and Zambia.

 

Through this partnership, we will enable our channel partner ecosystem through Cloudmania to expand their cyber security solution offering to their customers

With the new offering, Liquid C2 is set to deliver application services that provide security and performance solutions for web applications, network services that secure enterprise networking and zero trust services. The 2023 Cyber Security report from Interpol revealed a 23% year-on-year increase in the average number of weekly cyberattacks per organisation in Africa, underscoring the pressing need for…

Read More