Nation
SMEDAN Advocates Stakeholders’ Support For MSMEs
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has urged stakeholders within the Micro Small and Medium Enterprises’ (MSMEs) ecosystem to create a more supportive environment for MSME’s to grow, thrive and contribute to the economy.
The Chief Executive Officer, SMEDAN, Dr Olawale Fasanya, gave the advice at a two-day MSMEs Business Summit, organised by Innovation Centre for Leadership and Entrepreneurship Development (ICLED) in collaboration with SMEDAN in Lagos.
The Tide’s source reports that the summit had the theme, “Renewing MSMESs in Nigeria: Navigating Disruption and Embracing Change in the New Digital World”.
Fasanya said the latest survey the agency conducted with the National Bureau of Statistics in 2017 revealed Nigeria had about 41.2 million MSMEs and in 2020, about 39.6 million.
According to him, the country lost about three million as a result of COVID-19.
Fasanya, represented by a Director in SMEDAN, Dr Friday Okpara, noted that within the 39.6 million MSMEs in 2020, about 96.9 per cent were within NANO and micro enterprises.
He said, “that is to tell us that 3.1 per cent is just small and medium sized; and that is a big job for those within the MSMEs ecosystem.
“Especially SMEDAN, Standards Organisation of Nigeria, Nigerian Export Promotion Council, National Agency for Food and Drug Administration and Control, amongst others.
“We should see to how we can mainstream these 96.9 per cent micro enterprises to small and medium sized; and if you look at the type of crisis we are having in terms of youth unemployment and we say we have 39.6 million MSMEs, assuming we employ one each, a lot will be off the market.
“This is part of the mandate of the agency to ensure that we have the capacity to make a small legion of that to enable them contribute more to the GDP”.
The SMEDAN boss also noted that the MSMEs had made an encouraging contribution to the country’s Gross Domestic Product of 46.31 per cent, saying that more needed to be done.
“Their contribution to exports is very minimal compared to India that has about 42.5 per cent contribution of MSMEs to exports; equally in 2017, their contribution to export was about 7.27 per cent but the 2020 figure has shown us that there is a decline to 6.21 per cent.
“This means that SMEDAN should collaborate more and partner more with the Nigerian Export Promotion Council to enable us to have more MSMEs, especially with the recent Africa Continental Free Trade Area in which Nigeria is a big player among the 64 African countries”, Fasanya said.
Prof. Stephen Aliu, Team Leader, Centre for Entrepreneurship Development and Wealth Creation and Faculty Member, ICLED Business School, said fostering growth and development of MSMEs would require relevant stakeholders to implement best practices as done in other climes.
“SMEs often face challenges in accessing finance due to limited collateral or credit history.
“Governments and financial institutions should develop tailored financial products such as microloans, venture capital funds, or crowd funding platforms to provide affordable and accessible financing options for SMEs.
“Additionally, promoting financial literacy and offering business advisory services can help SMEs improve their financial management capabilities.
“Simplify regulations and reduce bureaucratic barriers, enhance entrepreneurship education and training, foster innovation and technology adoption, facilitate market access and internationalisation and build supportive ecosystems.
Nation
Soldiers Destroy 13 Illegal Refineries, Arrest 15 Oil Thieves
The 6 Division of the Nigerian Army has dismantled 13 illegal refining sites, recovered 300,000 litres of stolen products, and arrested 15 suspected oil thieves following operations across four Niger Delta states from January 20 to 26, 2025.
Acting Deputy Director, Army Public Relations for the 6 Division, Jonah Danjuma, disclosed this in a statement issued in Port Harcourt, last Sunday.
Danjuma noted that the operations included deactivating 150 locally-made ovens and were carried out in Rivers, Delta, Edo, and Akwa Ibom states.
“Troops of 6 Division, Nigerian Army, have continued to tighten the noose against oil thieves with numerous successes resonating across the joint operations area,” Danjuma said. “These successes include the dismantling of 13 illegal bunkering hubs, four boats demobilised, arrest of 15 oil thieves, over 150 locally made ovens deactivated, and the recovery of over 300,000 litres of stolen products.”
In Edo State, troops discovered a vandalised site at Ugo Community in Orhiomwon Local Government Area, where a pool containing 252,000 litres of stolen crude oil was uncovered.
Equipment such as a pumping machine, hose, and pipes were also recovered.
In Delta State, troops intercepted a 30,000-litre DAF tanker truck siphoning crude oil from PAN Ocean Nigeria Limited Pipeline, with over 15,000 litres already stolen before the interception.
In Rivers State, operations along the Imo River corridor led to the confiscation of over 10,000 litres of stolen products.
At Owaza general area, an active illegal refining site was raided, prompting the criminals to flee upon sighting troops. A pump-action gun was recovered during the follow-up operation.
Additional successes in Rivers State included the dismantling of illegal refining clusters at Obiafu Oil Field in Ogba/Egbema/Ndoni Local Government Area, where 10 cooking drums, hoses, and reservoirs were seized.
Similar operations in Abalama Community, Asari-Toru LGA, and Abacheke area, ONELGA, uncovered thousands of litres of stolen products, cooking drums, and other equipment, while eight suspects were arrested.
In Akwa Ibom State, troops raided a storage facility in Ikot Abia, Ikot Ekpene LGA, recovering polythene bags filled with stolen Automotive Gas Oil.
In Bayelsa State, troops dismantled two illegal refining sites at Isonogbene, Brass LGA, recovering over 5,000 litres of stolen crude.
General Officer Commanding 6 Division, Maj. Gen. Emmanuel Emekah, commended the troops’ efforts in curbing oil theft and pipeline vandalism.
“The days of criminal elements masquerading as economic saboteurs and associated crimes are numbered,” Emekah said, urging perpetrators to embrace legitimate livelihoods or face intensified military action.
Nation
BPP Saves Nigeria N1.9trillion from Contracts Fraud – DG
Nation
Osun Park Management Chairman Shot By Police, Union Alleges
The Chairman of the Osun State Park Management System (OSTMS), Comrade Nurudeen Iyanda Alowonle, was reportedly shot by officers of the state police command in the late hours of Monday.
The union, in a statement issued by its Secretary, Mikaela Popoola, in Osogbo, confirmed that its chairman was arrested over domestic issues and taken into police custody.
According to him, the shooting of the chairman occurred while in police custody, and the circumstances surrounding the shooting call for a thorough investigation.
The union scribe, who reiterated that the chairman was arrested over domestic issues and taken into police custody, called on members of OSTMS not to take the law into their own hands.
He stressed, “We must maintain peace across the parks while we take the matter up with the appropriate authorities.”
While confirming the shooting, a top Police officer, who preferred to remain anonymous, said, “Alowonle was arrested in connection with the alleged killing of one Oyewale in 2022 and the assault of some residents on Monday night.
“He was shot while attempting to escape and has been taken to a hospital for treatment.”
According to him, Alowonle was maimed by the police gunshot, and a Hummer bus with registration number AWK 480YD, an unregistered Nissan Almera, and a Toyota Sienna with registration number GNN 595 XD were also recovered from him.
“During the arrest, a Barrett pistol, six rounds of 9mm live ammunition, and one expended empty shell were recovered from Alowonle’s private unregistered Toyota Highlander jeep,” the officer said.
“Alowonle and his boys conveyed themselves in a Previn bus with registration number RBC 275XK, but a distress call to the police led to his arrest. He was rearrested at Susi area of Oke-Baale, Osogbo, alongside eight others before being taken to the state police command.”
Meanwhile, all possible efforts made to reach the spokesperson for the state Police Command, Mrs Yemisi Opalola, for comment on the incident proved abortive as calls put to her mobile phone were not answered.
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