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Blue Economy Minister Charges Stakeholders On Africa’s Maritime Potential

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Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, has called on Maritime stakeholders across Africa to leverage the continent’s renewable energy potential to become a global leader in green shipping.
The Minister made the remark at the maiden Africa Strategic Summit on Shipping Decarbonization, held at the Congress Hall, Transcorp Hilton, Abuja, according to a statement issued by the Head, Public Relations, Nigerian Maritime Administration and Safety Agency (NIMASA), Osagie Edward.
He stated that, with the International Maritime Organization (IMO) advancing efforts to adopt the Greenhouse Gas (GHG) Emissions Reduction Strategy, Africa must assert its presence and safeguard its interests.
In the same vein, Dr. Dayo Mobereola, Director General, NIMASA, emphasized that Africa must prioritise sustainable and responsible maritime practices in line with international frameworks as the continent develops.
Oyetola said, “With over 90 per cent of global trade facilitated by maritime transport, reducing GHG emissions from shipping is not just an environmental necessity, but an economic imperative.
“Africa must ensure that its voice is heard, and its interests safeguarded in shaping policies that impact our economies and livelihoods.
“Shipping decarbonisation goes beyond just shipping, as it touches various sectors of the economy and livelihoods. Decarbonising the shipping industry must be pursued in a manner that is just and equitable, ensuring that no African nation is left behind.
“Africa’s maritime sector is uniquely positioned to leverage its strategic geographic advantage, renewable energy potential, and growing Port infrastructure development to become a global leader in green shipping.
“This requires a concerted effort from all stakeholders to align investments with sustainability and economic growth”, Oyetola said.
In his welcome address, Mobereola, said, “The shipping industry accounts for approximately 3 percent of global GHG emissions, contributing to climate change.
“The environmental concerns arising from these emissions have created a sense of urgency, driving the world to focus on shipping decarbonization, and Africa must not be left behind.”
He noted noted that the focus of the two-day summit is on Africa’s cooperation regarding the IMO’s GHG strategy and the basket of mid-term measures, ensuring a just and equitable transition for the continent and enhancing its technical capacity for climate action.
He further stated, “The decisions we make today will shape the future of our maritime industry and our contribution to global climate goals. This summit provides a unique opportunity to align our regional strategies with international frameworks while addressing Africa’s challenges and opportunities”.
Key presentations at the summit include “IMO’s Journey So Far in Its GHG Reduction Strategy” by Dr. Harry Conway, Chairman of the IMO’s MEPC and Alternate Permanent Representative of Liberia to the IMO; and “The Role of Africa’s Maritime Administrations in Shaping Shipping Decarbonization”, by Mr. John Oming’o, President of the Association of African Maritime Administrations.
Oming’o highlighted the benefits of decarbonisation to include, reduction of global warming to 1.5 degrees Celsius, job creation in renewable energy, ship building, research and development, improved air quality near ports and coastal cities, port modernisation for clean and efficient logistics, green fuel production hubs, among others.

Nkpemenyie Mcdominic, Lagos

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Bank Supports Female Entrepreneurs With Grants

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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.

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Nigerian SME Awards: Providus, Access, Others Compete For Honor

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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.

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SMEs Experts Urge MSMEs To Remain Focused

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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

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