Folarin Kehinde

People engaging in Medium, Small and Medium Enterprise, MSME in Plateau State have been taken through the intricacies of the National MSME Policy to enable them to understand the priority of the policy, see how they can key into and own the policy for inclusive development of the MSME sub-sector.

The one-day stakeholders’ dialogue on the implementation of the National MSME Policy in Plateau State was organized by the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN with the support of the GIZ-SEDIN programme (a Deutsch Gesellschaft für Internationale Zusammenarbeit, pro-poor growth and promotion of employment in Nigeria) in collaboration with the Plateau State Microfinance Development Agency, PLASMIDA.

Speaking at the event held on Thursday in Jos, the Director General of SMEDAN, Olawale Fasanya in his keynote address, said the engagement forum is an avenue to “harvest inputs of stakeholders which would assist the Agency to decide the exact intervention that is needed to enable MSME to continue to improve and add value to the nation’s economy.”

Fasanya reiterated the need to bridge the information gap between the government agencies in charge of MSMEs development, adding that there are adequate funds to support MSMEs but operators do not have the requisite knowledge to access the funds due to lack of proper information hence, plans are underway to establish business information centres in all the local government areas for the benefit of grassroots dwellers who own small businesses.

Giving an update on the said policy as well as the National Survey on MSMEs, Onesi-Lawani Daberuje of SMEDAN noted that the forum sought to “create awareness/ownership If the policy implementation at the State level, provide a platform for regular interface towards the implementation of the policy recommendations and allows for input-harvest by SMEDAN in driving sustainability and strengthening the MSME subsector.”

He pointed out that among other things, the policy priority areas are to “raise awareness, five extension/support services, marketing, infrastructure, cost of doing business,” among others.

Also, Markus Wauschkuhn of the GIZ-SEDIN reinforced that the role of MSMEs in employment and the creation of jobs cannot be played down as the sub-sector contributes to Nigeria’s economy and its GDP growth.

His words, “… MSMEs generate income and further employment, we work closely with private and public institutions to improve the conditions these enterprises have to work, the business environment, the policies, the local economic development. The SEDIN programme is supporting the SMEDAN to organize the stakeholder engagement in Plateau State to strengthen the collaboration among the different actors and to strengthen the MSMEs ecosystem.

“We offer support for maximum impacts of MSMEs because of the roles of MSMEs in economic development and creation of jobs, especially in Nigeria where the unemployment rate is high. Available statistics show that MSMEs contribute up to 48% of the national GDP but despite this significant contribution, challenges hinder the growth and development of the sector therefore, we give this support to address the issues which hinder the growth of MSMEs in Nigeria…”

Bomkam Wuyep, the DG of PLASMIDA who represented the Secretary to the State Government, Professor Danladi Atu promised an improved environment for small businesses to thrive while Akinropo Omoware of GIZ assured of continued collaboration with all stakeholders to strengthen MSMEs.

Discussing the challenges faced by MSMEs in the State, as well as the possible solutions to the issues raised, participants complained about the cumbersome conditions for accessing funds, the unlevel playing field for small businesses to thrive, and the lack of data to help in monitoring and evaluation, lack of access to the Bank of Industry, lack of access to improved seedlings, lack of access to markets for sales of products as well as the use of intervention for consumption rat

Angry youths on Wednesday burnt down the country home of the Sokoto State Commissioner for Security and Career Studies, Col. Garba Moyi (retd), for allegedly working with bandits.

The spokesman of the state police command, Sanusi Abubakar, who confirmed the incident to journalists in Sokoto, said the irate youths burnt down the building located in Isa local government area of the state after they accused him of working with bandits who regularly attack the area.

Abubakar added that the youths also torched a vehicle belonging to the traditional ruler of the community, Sarkin Gobir Alhaji Nasiru Ahmad, whom they also accused of colluding with the bandits.

According to the spokesman, trouble started when the commissioner turned down the youths’ invitation for discussion on incessant attacks in the area.

Abubakar said at least five persons had been arrested in connection with the incident.

Moyi, who also confirmed the attack on his home, blamed his political rivals for the ordeal.

He said: “It is true that youths attacked my house at Isa local government area. They overpowered the security man in the house and set the house ablaze.

“I am yet to visit the area to ascertain the extent of damage to the house; but I can confirm that no life was lost.

“I know this is the handiwork of my political opponents as I have absolutely nothing to do with bandits.

“For now, I cannot say anything further as the investigation is ongoing by the police.”

Dr Rabiu Musa Kwankwaso the presidential candidate of the New Nigeria Peoples Party was attacked yesterday by hoodlums in Kogi state.

Kwankwaso who is also a former governor of Kano State was attacked in Lokoja, Kogi State when he went to launch his party’s new secretariat and campaign offices.

The hoodlums invaded the venue and drenched him and his aides with sachet water (Pure Water).

A similar scene had played out before when Kwankwaso visited Ogbonicha, Kogi State, the hometown of late Abubakar Audu.

The hoodlums accused him of trying to hide under the canopy of the late ex-governor to woo supporters of the All Progressives Congress (APC) to his side.

The Buhari government is proposing a N19.49 trillion budget for the year 2023. More than half of the money is to be borrowed.

To finance the budget, the federal government plans to borrow N11.03 trillion and privatize several assets to raise the capital.

The government plans to generate only N8.5 trillion, out of the N19.47 trillion budget.

Buhari administration plans to finance the huge budget by borrowing N7.4 trillion from the domestic market and N1.8 trillion from foreign entities. In addition, FG is expecting N206.1 billion from privatization proceeds and N1.7 trillion multilateral project-tied loans.

This borrowing plan is far above the recommended threshold stipulated by the fiscal responsibility Act. The law provides that the deficit should not exceed 3% of GDP. However, this plan is 5.01% of the GDP.

Section 12 (1) of the FRA states: “Aggregate expenditure and the aggregate amount appropriated by the National Assembly for each financial year shall not be more than the estimated aggregate revenue plus a deficit, not exceeding three per cent of the estimated Gross Domestic Product or any sustainable percentage as may be determined by the National Assembly for each financial year.”

However, the law gives the President power to cross the threshold based on the approval of the National Assembly if the president believes that there is a reason to cross.

But the president has steadily crossed the deficit with different justifications. In 2021, it was 3.5% with the argument that there is a need to finance COVID-19 recovery. In the past, the administration premised its argument on funding the defence sector due to insecurity.

This time, the government is making petroleum subsidy the central argument for the huge deficit. However, it’s worth noting that, in this current proposal, subsidy will only be paid for 6 months.

While the government is using subsidy as an excuse, there is a part of being unable to generate revenue. In 2014, government daily oil production was 2.33 barrels per day, but the government is projecting to produce 1.69 BPD in 2023.

On Monday, when the Minister of Finance, Zainab Ahmed appeared before the House or Reps Committee on Finance, she lamented that oil theft has reduced the capacity of the government to fund the budget.

She said the inability to produce sufficient oil has made it impossible to meet the crude oil for PMS swap deal as the government is now paying cash instead of crude oil.

“We need the crude to undertake the DSDP arrangement where crude is swapped for PMS. It means we have to pay for PMS ourselves,” she said.

Furthermore, Nigeria is unable to meet its OPEC quota of 1.86 million barrels per day.

It would be recalled that the federal government recently signed a N4 billion monthly pipeline surveillance agreement with Government Ekpemupolo, better known as Tompolo.

It is a reversal of the initial stance which saw the cancellation of the contract months after President Buhari assumed office.

According to the Debt Management Office (DMO), as at the first quarter of the year, the debt of the country stood at N41.6 trillion.

Before the year runs out, Nigeria is expected to have added to it and by 2023, FG alone is expected to add N11.03 trillion to the profile.

Dr Adesanya Moses, an Economist at the Nigerian Army University, Biu, said any borrowing that is not going into financing the capital component of the budget is not sustainable.

“If they keep borrowing not for capital projects, then it is not sustainable because part of it will go into recurrent expenditures and debt servicing. It will be more efficient if the investment can repay the loans— it is what we call derived demand. When you spend money on capital projects, it will help the economy to grow.

“The problem is that borrowing to finance subsidy is not sustainable because the vast majority of the subsidy goes to the high and middle income earners. It is not creating jobs or improving the life of the people. Borrowing to finance subsidy is not sustainable,” he said.

While this is going to be President Buhari’s last budget, a large part of it will be implemented by another administration, hence, whoever emerges as the president in 2023, will inherit a huge budget built on borrowing

source: dailypost

Vice President Yemi Osinbajo has said the government must act fast on the country’s economy and the industrial action embarked upon by the Academic Staff Union of Universities (ASUU).

Osinbajo called on the governors elected on the platform of the ruling All Progressives Congress (APC) to work with the Federal Government with a view to bringing urgent resolution to the economy and ASUU strike for the benefit of Nigerians.

According to a statement issued by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, Osinbajo made the call when he received the APC Governors in his office at the Presidential Villa in Abuja over his recent surgery.

The Vice President, who expressed his appreciation to the governors for the visit and the good wishes, commended the expertise of Nigerian doctors, and the availability of cutting-edge medical facilities existing in the country.

He, however, regretted that doctors are restrained by regulations to advertise, saying many people are unaware of the level of quality medical services available locally.

“We all need to work together on these critical issues. We need to think through things, and we need to do it fast,” Osinbajo said.

Present at the meeting were Governors Atiku Bagudu (Kebbi), Kayode Fayemi (Ekiti), Simon Lalong (Plateau), Babajide Sanwo-Olu (Lagos), and Muhammad Badaru Abubakar (Jigawa).

Others included Abdulrahman Abdulrazaq (Kwara), Abubakar Sani Bello (Niger), Dapo Abiodun (Ogun), Abdullahi Sule (Nasarawa), and the Deputy Governor of Ebonyi State, Kelechi Igwe.

The Academic Staff Union (ASUU) of Universities are considering to stop negotiations with the Buhari led government till further notice, owing to the governments non-corporation in meeting with the demands of the union.

ASUU chairman, Emmanuel Osedeke stated that government have acted in bad faith towards the union. They have not satisfactorily implemented any of the unions demand and they are trying to blackmail them with the no work no pay policy.

ASUU National Executive Council held an emergency meeting in the University of Abuja on Sunday, there, a decision was reached to roll over the strike to a comprehensive, total and indefinite strike.

Excerpts from the press release of ASUU stated:

“ASUU National Executive Council (NEC) observes with regret that the union had experienced a lot of deceit of the highest level in the last five and half years as the Federal Government of Nigeria (FGN) engaged ASUU in fruitless and unending negotiation without a display of utmost fidelity.”

“NEC was utterly disappointed in agents of government, especially the minister of Education, for the deliberate falsehood and misrepresentation of facts aimed at scoring cheap political gains”

“In view of so many factors and following extensive deliberations on Government’s response to the resolution of 14^th February, 2022. So far, NEC concluded that the demands of the union had not been satisfactorily addressed.

Consequently, NEC resolved to transmute the roll-over strike to a comprehensive, total and indefinite strike beginning from Monday, 29th August, 2022.

The International Committee of the Red Cross (ICRC) has revealed that over 25,000 persons are missing in Nigeria including 11,000 children.

Releasing the latest figures of disappeared persons across Africa, the Red Cross said there 64,000 cases reported.

The Head of Delegation for Society in Nigeria, Yann Bonzon said this in a statement issued to journalists to commemorate the International Day of the Disappered, observed every 30th of August.

The statement was signed by Ms Akpa Esther, Communication Officer, Editor and Analyst of the society in Abuja.

According to the News agency of Nigeria, Bonzon said there are over 35 active armed conflicts in Africa.

He said that thousands of people, including children, cross borders, the Sahara Desert and the Mediterranean Sea in search of safety and better life each year adding that such movements often pose great risks, including the risk of disappearance.

He said that documented cases of missing persons were on the rise as the society warned that the actual figures were much higher.

“Sadly, the almost 14,000 children registered does not capture the full scope of this often-neglected and tragic humanitarian issue. There is no doubt that there are more children whose fate remains unknown,” Bonzon said.

He said that during displacement, children faced risks such as exploitation, violence, mental distress and disappearance as many also ended up alone, with no news of their families’ whereabouts.

According to him, the society has more than 5,200 documented cases of unaccompanied children in Africa.

Patrick Youssef, Regional Director for ICRC in Africa, said that having the right policies in place could save lives.

Youssef said that it was an essential step to protect migrants and families of missing persons.

He said that there was a question of humanity and human dignity and that families of the disappeared faced immense pain and obstacles that often transcend generations.

“They are stuck in limbo, unable to move forward or grieve. The search for their loved ones never ends,” Youssef said.

He said that in 2022 from January to June, the society together with the Nigerian Red Cross Society (NRCS), assisted in the exchange of 1,250 Red Cross messages containing family news.

Youssef said that the society reunited 31 separated children and unaccompanied minors with their families, while 440 phone calls were provided to families to maintain family contact.

“In addition, families of 377 persons received information about the whereabouts or fate of their loved ones.

“While 146 families of missing persons received psychosocial, economic, legal and administrative support through the Accompaniment Programme for Families of the Missing,” he said.