Business
Senate To Delay NPA’s 2014 Budget
The Senate committee on marine transport has vowed not to pass the 2014 budget of the Nigeria Ports Authority (NPA) in the National Assembly until the agency satisfactorily convinces the committee about the success level of projects embarked upon with the previous budget.
This was disclosed by the chairman of the Committee, Hajia Zaynab Kure at the authority’s Headquarters during the oversight visit of the senators to the agency over the performance of the 20 13 budge, recently.
It was gathered that the committee Chairman’s threat was due to the absence of the Managing Director of NP A, Mallam Habib Abdullahi during the visit of the committee to the agency.
Senator Kure disclosed that the committee members came down to Lagos to see things for themselves before passing the agency’s 2014 budget, but was disappointed with the level of reception given to them by the Management of NPA.
Kure said, “We feel it is pertinent that we appraise NPA’s performance with the 2013 budget before passing the 2014 budget of the agency. But now that nobody is here to give us brief of what has been done with the 2013 budget, our hands are tied on what to do with the 2014 appropriation budget.
“If we wanted just the budget performance appraisal, we could do it in Abuja. But we wanted to come and see on-going projects, that is why we came down to Lagos,” she stated.
The wife of the former governor of Niger State tagged Abdulahi’s absence during their statutory oversight visit to the agency as a sign of disrespect to her and other members of the committee.
Reacting, Hajia Zaynab Kure said, “on behalf of my distinguished colleagues, I want to express my disappointment and displeasure, and of cause embarrassment of the Committee at the inability of your MD to receive an esteemed committee made up of distinguished senators that have come on an oversight function to the NP A.”
She further stated that, “this honourable committee wrote about two weeks ago to NPA that we are coming on a constitutional and statutory assignment. If for any reason the MD, who must have received the letter, knew he won’t be around to receive us, he should have written back to us that he has another assignment that he feels is much more important than receiving this committee”, she lamented.
She continued, “But there was no communication. I only got a call from the NP A MD on my way to the airport, by which time all my other colleagues have even boarded the aircraft, informing me that he won’t be able to receive us.”
“I did not tell my other colleagues because I thought that if I had done that, I won’t be doing justice to what has brought us here. I wanted everybody to come and see things for themselves. Except for one of us, every other member of this committee is here for this oversight visit.”
“We are all here because we have taken our job so seriously. Most of us left other important assignment back home because we want to discharge our responsibilities as a committee that is concerned about the maritime sector of this country.
“But for us to get here and the MD is not here, i must tell you that the committee is seriously disappointed and we are not happy at all. We want you to communicate same to your MD.
“We know that you are working as a team but the MD has no right, whatsoever, to have treated us the way we are treated today. We should have known that he won’t be here and would have possibly rescheduled our trip.”
Corroborating her, another member of the committee, Senator Ben Ayade called the action of the NPA MD as an absolute disrespect to the National Assembly.
In his words, “the last time we were here, the NP A MD was eager to receive us, but, that enthusiasm has dwindled.
“If feel highly compromised. I thing there is an absolute disrespect for the National Assembly. This conduct is deliberate. I find it very insulting.
L-R: Permanent Secretary, Lagos State Ministry of Housing, Mr Tunji Odunlami, Executive Director, Lagos Home Ownership Mortgage Scheme, Mr Bayowa Foresythe, Commissioner for Housing, Mr Bosun Jeje and Managing Director, Lagos State Property Development Corporation, Mr Biodun Oni, at the handing over of Shitta Housing Estate, Surulere, by Lagos Ministry of Housing to Lagos Home Ownership Mortgage Scheme in Lagos yesterday.
Kolomoni Microfinance Bank has awarded grants to five female entrepreneurs to boost their businesses as part of its commitment to promoting women in business.
The initiative, organized to mark International Women’s Day, was themed “Accelerate Her Growth.”
According to the bank, the decision to support women was inspired by World Bank data, which shows that 41 percent of Nigeria’s micro-businesses are owned by women.
Delivering the keynote address, business strategist, Ebun Akinwale, emphasized that entrepreneurship requires resilience, creativity, and passion.
She illustrated this by recounting her own business challenges and highlighting the critical role passion plays in overcoming obstacles.
The event underscored Kolomoni’s mission to empower women and support small businesses in Nigeria.
Other speakers at the occasion were Odunayo Oyebolu, a seasoned entrepreneur; Victori Ajiboye, a marketing strategist with global experience; and Simi Ojumu, a finance expert.
The beneficiaries said the financial support was a validation of their hard work and a boost of confidence towards scaling through in their businesses.
The winners were selected after sharing their entrepreneurial journeys and presenting business proposals for financial assistance from the bank.
The 8th edition of the Nigeria Small and Medium Enterprises (SMEs) Summit and Awards (Nigeria SMEAwards) is set to take place in Lagos for the first time in its history, marking a significant milestone for this prestigious event.
Endorsed by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the annual awards celebrate the entrepreneurial spirit driving Nigeria’s economy.
The visionary convener of NigeriaSMEAwards 2025, Adedayo Olalekan, said, “Governors from Zamfara, Sokoto, Ebonyi, Borno, Enugu, Ekiti, Benue, and Kaduna States have all implemented transformative initiatives that have greatly benefitted local enterprises.
“Their contributions will serve as a beacon of inspiration for the nation.”
Speaking at a recent press conference in Lagos, Olalekan emphasised that the event would introduce a fresh and unique approach, moving away from tradition.
“Despite economic challenges, Nigerians continue to show an unwavering commitment to progress”, he said.
He noted that the awards will not only honor outstanding individuals, but also recognise the critical role state governments play in nurturing vibrant SMEs.
“State governments have been instrumental in fostering a supportive environment for SMEs, which in turn benefits both the awardees and the larger economy.
“With major banks like Providus, Access, and First Banks competing for top honors, the 8th NigeriaSMEAwards promises to be a night of celebration, recognising exceptional contributions to Nigeria’s SME landscape”, Olalekan added.
Amid global challenges such as inflation, geopolitical instability, and the ongoing conflict in Ukraine, Nigerians continue to show remarkable resilience.
Their efforts, according to reports, have contributed to job creation, economic growth, and overall prosperity, with SMEs at the forefront of this success.
This year’s awards will recognise governors who have made significant strides in advancing the SME sector within their states.
Small and Medium Enterprises (SMEs) consultants in Rivers State have called on entrepreneurs to be focused and avoid distractions.
The experts, who were speaking on the recent developments about the change of leadership in the state, said entrepreneurs need to put more efforts in their businesses in order to break even in the present situation in Rivers State.
Speaking in a chat with The Tide, an international SMEs consultant, Amb. Larry Goodwill Ajiola, said the political moves is capable of distracting SMEs who are not grounded in their businesses, adding that “the serious minded business men and women would utilise the opportunity to increase their revenues”.
Amb Ajiola, who is the President and Chief Executive Officer (CEO) of Rumuomasi Co-operative and Credit Society Limited, Port Harcourt, said, “Rugged entrepreneurs look out for business opportunities in situations around them, whether good or bad”.
He reiterated that the loan facility given to 3,000 SMEs in the state revived and expanded businesses, adding that the empowered businesses should continue to push, no matter the situation.
“credit is a powerful tool for achieving financial security.
“We can only keep imagin the economic value that the over 3,000 MSMEs would add to the positive economic dynamics of Rivers State and the Local Government Areas in terms of Gross Domestic Prooduct (GDP), increased tax returns, employment creation, income distribution, and production of goods and services”, he said.
Another SMEs Expert, a business consultant and SMEs trainer, Mr. Chisom Sam-Orji, in his advice, noted that every SME in the state should realize that change is the only constant thing.
He said SMEs should also know that “tough times never last, but tough people do”, adding the need for every entrepreneur to stay focused on creating value and remain resilient.
“This is not the time to be distracted by every noise around your space, but to maximize every time you have to focus on the essentials and keep creating value.
“For some people, it may just be the time to diversify, create new products and services to serve a new or existing market. But this must be based on the facts available to you via research and market surveys”, he said.
The SMEs expert also said the present time in the life of an entrepreneur is a time to cut off unnecessary excesses that surround one’s business.
“Those extra costs that may hamper your growth in this season and beyond, and focus on just essentials.
“SMEs should find certain leverages that are available to aid their business growth. This could be in form of grants, knowledge, and other leverage tools.
“Collaboration is one big way to grow in this season. Finding ways to collaborate with like minds instead of competing could enable a product or service gain advantage in the market and beyond.
“They should also find ways to sustain and grow their customer relationship as this is key to sustaining business flow. They must seek new and efficient ways to serve their customers and gain their loyalty”, he stated.
He further called on every entrepreneur to keep building capacity and never take their eyes off their visions, adding the need to muster every courage it takes to keep building and moving forward.
Lilian Peters
-
Niger Delta2 days ago
A’Ibom Partners Senior Citizens Centre
-
City Crime2 days ago‘NFF Conducted Federation Cup Draw Fairly’
-
News2 days agoNDLEA Pushes For Drug Tests On NYSC Members
-
Politics2 days agoLP Crisis: Resign Or We Flush You Out, NLC Tells Abure
-
News2 days agoOpobo/Nkoro Administrator Pledges To Prioritise Workers’ Welfare
-
Maritime1 day agoTruckers Raise Alarm Over NPA’s Call-Up System
-
Niger Delta2 days ago
A’Ibom LG Chairmen Have No Reason For Failure – Gov
-
Editorial2 days agoEaster: A Call For National Renewal