Business
NLC Advocates Social Justice, Decent Work
The Nigeria Labour Congress (NLC) has called for support of the international community for the fight for social justice, inequality and decent work around the world.
NLC President, Mr Ayuba Wabba, made the call when the Venezuelan Foreign Affairs Minister, Mr Jonge Anneeaza visited him at the Labour House in Abuja.
Wabba said it was unfortunate that the level of inequality had continued to increase unabated around the world.
He said that emerging developments over time in Venezuela were not good reports, describing the challenges by the country as unfortunate.
“Nigeria and Venezuela have so many things in common; the working class all over the world believed in the principle of social justice and shared prosperity.
“So, we will not be unmindful of the current challenges facing Venezuela,” he said.
He said in spite of the challenges, the country had remained focused, especially in the area of managing its petroleum resources.
According to him, we must as a people, continue to fight for authority and independence because clearly speaking, what is happening around the world today is the fact that inequality has continued to increase.
“There is a new trend of neo-liberalism where the interests of our policies are being undermined and the interest of few countries around the world drives the process of development everywhere, this is unaccepted.
“For us, freedom must be total without limitation or restriction. Countries must be allowed to use their resources for the betterment of their citizens.
“They must also be able to use their resources for the process of development of their citizens and I think this has being the challenge in most countries.
“They are undermining the serenity of the country and the people and that is why peace has continued to elude us around the world.
“So, we must choose where there is peace and freedom and development as where there is freedom, certainly, this issue of security will be a thing of the past,” he said.
Wabba said that the NLC had followed with keen interest, the developments in Venezuela and would continue to support policies aimed at advancing the will of the people, especially the working class.
He noted that the issue of Venezuela had featured prominently in discussions at the International Labour Organisation.
According to him, labour will continue to support because, if there are injustices around the world, there is injustice everywhere.
Earlier, Anneeaza, said that the country was being threatened with military action by President Donald Trump of the United States of America.
Anneeaza said that President Trump had also placed economic sanction against the country.
He added that as a result of such sanction, the country was not able to assess any facility from international finance institutions.
“At the moment, our only alternative route is with the help of many countries such as Russia, China, Turkey among others because, they know about this kind of blockage in the economy,” he said.
He said that the country had concluded plans to hold a presidential election in April.
He added that the Venezuela government was committed to keeping to the agreement reached from a dialogue between the government and opposition members on election in the Dominican Republic.
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