Niger Delta

Edo, BoI Unveil Fund For 50,000 Entrepreneurs

Published

3 years ago

September 27, 2021

The Edo State Government and the Bank of Industry (BoI), have unveiled a Micro, Small and Medium Enterprise (MSME) development fund worth N2 billion to support entrepreneurs in the state.
The fund was launched during a citizens’ engagement session organised by the Edo State Skills Development Agency, also known as Edo Jobs, held at the Government House in Benin City.
Speaking at the event, Governor Godwin Obaseki said, “The Bank of Industry (BoI), which is a reliable partner, is here today to launch the MSME fund. The initial amount is N2 billion. Edo State Government provided N1 billion, while BoI provided the other N1 billion, making it N2 billion, with an attractive interest rate.”
”In addition, we have a N165 million fund, as part of the first tranche from the Edo State Government. It will be made available to small businesses, which are currently domiciled in our production hub, to support and encourage them to grow their businesses.
“BoI has the capacity and resources to support this kind of programme. From this N2 billion fund, we estimate that we can impact as many as 50,000 businesses in Edo State. We have other facilities with other institutions like the Central Bank of Nigeria (CBN). This is a start-up fund, as we expect it to continue to grow: If you start with N50,000, now and when you do well tomorrow in your business, you will need N200,000.
Borrowing is part of business, provided you continue to grow,” the governor stated.
The Governor assured that despite the Covid-19 pandemic, his administration remained committed to improving the livelihoods of the people and creating opportunities for the youths to thrive.
He stated: “We have continued to create opportunities for Edo youths as our administration is open, transparent and competent in all we do. We urge Edo people to trust us, as all the opportunities that we present are real, and life-transforming for Edo people.”
On his part, Managing Director/Chief Executive Officer, BoI, Mr. Olukayode Pitan, said that “in a quest to grow and develop MSME businesses in the country, the bank has resolved to continue to collaborate with existing enterprises, as well as reputable local and international partners.
“This MSME fund is aimed at providing business loans to enterprises located within the state, while the second fund is the N165 million Edo Production Hub Fund, financed by the Edo State Government. The Edo Production Hub Fund is managed by the BOI and is to support businesses located within the state-owned production hub.”
Later, the governor and his team, as well as his guests were also taken on a guided tour of the Edo Production Hub. They also commissioned the new Bank of Industry building in Benin City.

Niger Delta

NDDC Begins N50,000 Monthly Payment To 10,000 N’Delta Youths

Published

23 hours ago

February 7, 2025

The Tide

The Niger Delta Development Commission (NDDC) has begun the payment of N50,000 monthly stipends to 10,000 indigenous youths from the Niger Delta under its Youths Internship Scheme.

The Director of Corporate Affairs at the NDDC, Mrs Seledi Thompson-Wakama, disclosed this to journalists in Port Harcourt, Rivers State capital, yesterday.

She explained that the beneficiaries would undergo practical, hands-on training across the various organisations for 12 months to develop critical skills.

Recall that during the inauguration of the scheme on July 31, 2024, Senate President, Godswill Akpabio, had announced the Federal Government’s approval of a N50,000 monthly stipend for the trainees.

According to Thompson-Wakama, the commission has successfully completed the selection process and has begun placing trainees in organisations to gain practical experience.

“Consequently, with the completion of these phases, the payment of the monthly stipends has also commenced,” she announced.

She revealed that the 10,000 beneficiaries were transparently selected from over 3.2 million youths who registered for the empowerment programme.

“This unprecedented response highlights the immense potential and aspirations of our youths to improve themselves.

“NDDC remains steadfast in ensuring this life-changing opportunity reaches the most deserving candidates, creating a lasting impact and paving the way for a brighter future,” she stated.

Thompson-Wakama explained that the scheme had enabled the commission to collate essential data, including the qualifications, skills, interests, needs, and employment status of the youths in the region.

The data, she explained, would guide the commission in designing programmes tailored to address the unique challenges faced by young people.

She disclosed that the NDDC partnered with KPMG, a global audit and consultancy firm, to enhance the commission’s corporate governance framework.

“KPMG has produced a Governance Advisory Report that will serve as a tool to support the commission’s transition from a transaction-based to a transformation-focussed policy,” Thompson-Wakama added.

The director commended the youths for their patience and cooperation during the selection process for the scheme.

Niger Delta

Oborevwori Tasks Public Officers On Selflessness

Published

24 hours ago

February 7, 2025

The Tide

Delta State Governor, Sheriff Oborevwori, has charged public office holders in the state to put the interest of the people above self in the discharge of their duties.

The Governor gave the charge when the new executive of the Pentecostal Fellowship of Nigeria (PFN), State Chapter, led by Bishop Abos Willie, called on him at Government House, Asaba.

He said it was the lack of fear of God that made some public office holders to put themselves above the collective interest of the people.

Oborevwori attributed the successes so far recorded by his administration in the last 19 months to divine directive and God’s providence and pledged to continue to put God first in the governance of the state.

He congratulated members of the new PFN executive in the state on their successful election and promised to synergies with them in advancing the M.O.R.E Agenda of his administration.

“First, let me congratulate the new executive members of the Pentecostal Fellowship of Nigeria (PFN), Delta state Chapter.

“As an administration, we are grateful to God for the successes that we have recorded so far.

“It is by divine wisdom that we have been able to judiciously allocate resources that meet competing needs and made the right choices and decisions.

“As a government, we are determined to continue to trust God for wisdom, guidance and direction to successfully execute the programmes that we have outlined under the M.O.R.E Agenda.

“I know that, in partnership with the Christian body, we will succeed because, as an Elder in the Living Faith Church, we put God first in everything that we do.

“We are elected or appointed to serve interest of the people and not for our personal interest; as such, the interest of the people should come first.

“By the time you put the interest of the people first, you will succeed but when you put your personal interest first, you will fail”, he said.

He said his administration was committed to doing those things that would positively impact on the lives of the people at the grassroots.

“l want to assure you that, as a government, we will continue to partner with relevant stakeholders in order to move the state forward”, Oborevwori said.

He implored the PFN and the church to continue to pray for the state and the nation, affirming that God was needed to reverse the ugly trend in the country.

Earlier, the State PFN Chairman, Bishop Abos Willie, said the visit was not only to introduce the new executive to the governor but to also congratulate him on his giant strides and recognition by the ThisDay Newspaper and Arise Television as the Governor -of -The -Year.

Willie reminded the Governor of the need to sustain zero tolerance for shoddy projects, stressing that the bold step would stamp out the syndrome of abandonment of projects in the state.

He outlined the programmes of his administration to include the value of the Holy Bible, religious harmony, integrity in Christianity and value of being born again.

He, however, urges the state government support in achieving the set goals

Niger Delta

C’ River Committed To Mangrove Restoration – Gov

Published

1 day ago

February 7, 2025

The Tide

Cross River State Governor, Bassey Otu, last Wednesday reaffirmed his administration’s commitment to tackling climate change by advocating for the restoration of the state’s mangroves.

Otu made this remark during a courtesy visit by officials of the National Council on Climate Change Secretariat, highlighting the state’s proactive stance as the first to enact a Climate Change Law.

Emphasising the importance of collective action in addressing environmental challenges, he called for greater support for ongoing projects and increased investment in training and awareness initiatives at the community level.

“Our mangroves have suffered, but we are working on sustainable solutions. This is a testament to our full support and commitment to climate action.

“Our roadmap is strong, and our people are ready to collaborate for a greener economy”, he said.

Also speaking during the visit, the Director-General and Chief Executive Officer of the National Council on Climate Change Secretariat, Dr. Nkiruka Maduekwe, commended the Cross River government for its leadership in climate governance.

Maduekwe, who is also a Special Presidential Envoy on Climate Change, described mangroves as Nigeria’s ‘low-hanging fruit’ in climate mitigation, highlighting their economic and environmental significance.

She noted that a stakeholder town hall meeting had been held in Calabar, the state capital, to establish a concrete roadmap for mangrove restoration and conservation.

“We are excited to see a state that has not only adopted the Climate Change Law but has also developed a solid framework for a green economy.

“While we continue to engage other states, Cross River stands out as a model in driving climate action”, she said.

She, however, stressed the need for a strong legal framework to ensure effective climate action, noting that operationalising a climate change fund would be crucial in attracting global financial support.

On her part, Dr Edu Effiom, Director-General of the Cross River Council on Climate Change, reiterated the state’s efforts in mangrove restoration and carbon investment, noting that significant progress was being made.