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Breaking: Federal Government Set To Begin Allocation Of N125 Billion Grants To SMEs And Manufacturers Following Fuel Subsidy Changes

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The federal government has announced its imminent initiation of fund disbursement through the N125 billion Presidential Palliative Programme, aimed at mitigating the impact of fuel subsidy removal. Doris Uzoka-Anite, the Minister for Industry, Trade, and Investment, revealed this in a statement on Sunday, outlining the two components of the program as the Presidential Conditional Grant Programme and the Presidential Palliative Loan Programme….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

 

Under the Presidential Conditional Grant Programme, the government will allocate N50,000 to nano businesses across the 774 local government areas. The collaboration involves the Federal Ministry of Industry, Trade and Investment, the Small and Medium Enterprises Development Agency of Nigeria, state and local governments, federal legislators, federal ministers, banks, and other stakeholders.

Eligible nano business beneficiaries are required to provide proof of residence or business address in their local government area, along with pertinent personal and bank account information, including the Bank Verification Number for identity verification.

Furthermore, a total of N75 billion will be disbursed to micro, small, and medium-sized enterprises (MSMEs) across various sectors, with an additional N75 billion specifically earmarked for manufacturers. The loans will carry a single-digit interest rate of nine percent per annum.

MSMEs can access loan facilities up to N1 million with a repayment period of three years, while manufacturers can secure up to N1 billion for working capital with a one-year repayment period for working capital or a five-year period for the acquisition of machinery and equipment.

This initiative follows President Bola Ahmed’s announcement in July to distribute N125 billion to SMEs and MSMEs across the 744 local governments in Nigeria.

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The Master Tactician: Donald Duke Warns Opposition That Tinubu Is Way Ahead Of The Game.

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Peoples Redemption Party (PRP) presidential candidate and former Cross River State Governor, Donald Duke, has called on opposition parties to form a united front to unseat President Bola Tinubu in the 2027 elections. In an interview with Symfoni TV, Duke cautioned that Tinubu is an exceptional and formidable political opponent who cannot be defeated individually.....KINDLY READ THE FULL STORY HERE▶

Emphasizing that the political framework inherently favors the incumbent All Progressives Congress (APC) because they control state power and law enforcement apparatuses, Duke warned that division and ego among opposition figures effectively work against their own interests. Using a striking analogy, he described taking on the incumbent as trying to fight a lion that has been given horns using only a knife and fork, concluding that the opposition would end up as “dinner” without a cohesive, unified approach.

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Fuel Subsidy: Do Not Be Deceived By Atiku And His Clowning Group – Sowore Warns Nigerians.

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African Action Congress (AAC) 2027 presidential candidate Omoyele Sowore has cautioned citizens against falling for former Vice President Atiku Abubakar’s stance on reversing the fuel subsidy. Atiku, who is running under the African Democratic Congress (ADC), previously pledged to restore the subsidy if elected, arguing that the current administration’s removal of the policy has brought no advantages to the country.....KINDLY READ THE FULL STORY HERE▶

In response via an X post, Sowore rejected Atiku’s remarks, asserting that the AAC remains the sole political party that has steadfastly opposed the subsidy removal from the outset. He accused Atiku and other establishment politicians of shifting their stances based on political convenience and foreign capitalist interests, stating that they should not be permitted to rewrite history or masquerade as genuine opposition figures. Sowore further claimed that it was the AAC’s unwavering position at the Nigerian Bar Association Annual General Conference in Port Harcourt that actually rattled the Tinubu government, rather than any actions from Atiku’s camp.

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Fubara Upgrades Neuropsychiatric Hospital, Opens General Hospital In Wike’s LGA

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Rivers State Governor Siminalayi Fubara has officially inaugurated a newly upgraded Neuropsychiatric Hospital alongside a new general hospital located in Rumuigbo, situated within Obio/Akpor Local Government Area—the home LGA of his predecessor, Nyesom Wike.....KINDLY READ THE FULL STORY HERE▶

Governor Fubara explained that the initiative began following an inspection visit prompted by the Hospital Management Board regarding a rehabilitation center under construction. Observing that the aging mental health facility—originally established in 1977 with a 50-bed capacity—had deteriorated into a hub for drug trafficking where outsiders mixed with inmates, he immediately ordered a total modernization and rebuilding of the compound.

The newly remodeled facility now features a secure, fully fenced perimeter with strict gate access and houses a 100-bed rehabilitation center designed to handle substance abuse and mental health challenges, which the governor noted are frequently fueled by unemployment and depression.

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