Business
FG Tasks MDAs On Transparency
The Federal Government recently urged Directors of Ministries, Departments and Agencies (MDAs) in the country to promote transparency in their service delivery.
Acting Secretary to the Government of the Federation (SGF), Mrs Habiba Lawal, made the call in Abuja at the workshop for MDAs.
The workshop was on the operationalisation of the Executive Order on promotion of Transparency and Efficiency in the Business Environment in the country.
Lawal, who was represented by Amb. Olakunle Bamgbose, Permanent Secretary, Political and Economic Affairs, OSGF, urged the participants to ensure a public service that was devoid of corruption.
She said that they should ensure openness in the conduct of their functions, contracting procedures and publishing contracts in order to achieve the objectives of the Executive Order.
She said that promoting transparency would create an enabling environment for business to thrive and boost economic activities in the country.
The Acting SGF stated that the Executive Order was one of the measures being deployed by the current administration to achieve improved business environment in Nigeria, for accelerated diversification of the economy.
According to her “The operationalisation of the executive order is expected to usher in a new vista in the conduct of government business that will encourage more commitment in the delivery of public services to avoid indiscipline and ineptitude.
“To deliver expected promises of the Change Agenda, the civil service must lead the way as the main organ saddled with the responsibility for efficient implementation of government policies and programmes.
“The executive order seeks to promote vibrant local industry by mandating MDAs to ensure at least 40 per cent local content in all procurement procedures,’’ she said.
Similarly, Head of the Civil Service of the Federation, Mrs Winifred Oyo-Ita,said that the Civil Service was charged with the responsibility of implementing the executive order for effective nation building.
Oyo-Ita, who was represented by Chinyeaka Ohaa, Permanent Secretary, Common Services Office (CSO), Office of the Head of Service of the Federation, added that change was inevitable in achieving a greater nation.
She described civil service as the machinery for implementing government policies and should be committed to the executive order, saying “I want to implore you all to demonstrate strong commitment and expertise required to drive this policy of government to a fusion.
“Government is committed to creating transparency in a business environment and to create policies that will motivate investors to invest their funds and boost economy of the country.
“Hope that all companies that have relocated from the country will be convinced to return due to the enabling environment that has been created by this administration.
The Tide gathered that Acting President Yemi Osinbajo, on Thursday, May 18, signed an Executive Order on Transparency and improving the business environment in Nigeria.
The executive order focuses on five main planks namely: Transparency, Default Approvals, Entry Experience of Travelers and Visitors, Port Operations and One Government.
The workshop focused on the Executive Order 1 (EO01) which is Transparency; it states that all MDAs shall publish a complete list of all fees, timelines, conditions and requirements for obtaining licences and approvals.
It also states that Head of MDAs must ensure that list is verified and kept up to date at all times.
Each MDA shall publish list on its premises on its website and if there is a conflict between a published list and an unpublished list, the published list shall prevail.
The deadline for the implementation of the EO01 is June 8, 2017.
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