Business
Moniepoint Harps On MSMEs Importance
The Managing Director, Moniepoint Microfinance Bank (Moniepoint MFB), Babatunde Olofin, has underscored the importance of micro, small and medium enterprises as enablers of diverse economic growth.
Olofin said MSMEs can lead the charge towards a sustainable and prosperous future with proper support from governments, financial institutions and consumers.
He noted that from economic downturns to global crises, MSMEs have continued to demonstrate remarkable resilience and adaptability, in facilitating economic growth and development across borders.
He outlined that, driven by the increased need to improve access to financial services to power sustained and inclusive progress, Moniepoint MFB remains committed to providing peerless and holistic support for MSMEs in order to boost their capacity to achieve the Sustainable Development Goals.
He said the bank would continue to promote innovation, creativity, and sustainable business practices across the country.
According to him, Moniepoint is willing to partner with all stakeholders to create an environment that supports MSMEs in their efforts to invest, trade, and thrive in local and global markets, harnessing the attendant developmental benefits.
“We recognize that MSMEs are the lifeblood of the Nigerian economy. Millions of people depend on them everyday for food, daily necessities, and sustenance.
“For businesses across Nigeria, we have just one promise – we’re always going to be here to make you happy.
“As we celebrate this year’s World MSME Day, we must all acknowledge the hard work, dedication, and perseverance of MSMEs and the driving charge to not only bolster economic stability but also foster sustainable development, helping to eradicate poverty and improve quality of life for Nigerians.
“On a day like this, we must renew our commitment to join hands – agencies of government, private sector operators, and all stakeholders – to continue supporting MSMEs through policies, funding, and capacity-building initiatives. By empowering MSMEs, we pave the way for a more sustainable, inclusive, and prosperous future for all, especially the coming generations”, Olofin said.
He noted that Moniepoint MFB has been widely recognised for its innovative efforts at giving small businesses access to digital financial services, including the ability to accept payments, access working capital loans and manage their finances, that helps them to increase productivity, serve customers better, and ultimately to grow.
According to him, in its bid to further champion the survival of small businesses, Moniepoint MFB recently provided incentives to some business owners across Nigeria to ensure the lights are kept on.
Gift vouchers ranging from three-month worth of inventory restock for a general retail services provider to two-month worth of sewing material to a tailor even as a food and drinks supplier received a fuel voucher in order to solve his logistics needs amongst other recipients.
The beneficiaries, who expressed their gratitude to Moniepoint, noted that the gesture would go a long way to boost their productivity and ensure that they can better serve their local communities.
“As the sector closest to local communities, MSMEs are essential for creating local jobs, empowering women, youth, persons with disabilities and other groups in vulnerable situations. Commemorating MSME Day is a recognition that this vital sector, who are the agents of innovation, growth, and sustainability, at the heart of our societies has tremendous potential to unlock critical pathways to accelerate SDG progress across the globe”, Olofin said.
According to the United Nations, MSMEs account for over 90 per cent of businesses and 60 to 70 per cent of employment worldwide.
#These enterprises make up 50 per cent of global Gross Domestic Product (GDP). They contribute to the global economy and sustain livelihoods, particularly among the working poor, youth, women, and workers in vulnerable situations.
It will be recalled that following a resolution adopted by the UN General Assembly in April 2017, 27th of June was designated as “Micro-, Small, and Medium-sized Enterprises Day” to raise awareness of the tremendous contributions of MSMEs to the achievement of the United Nations Sustainable Development Goals (SDGs).
Continue Reading
The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure and equipment modernization drive with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the clearing of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying, “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of NSC, Dr. Pius Akutah, made this known during a visit to the Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu