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BOI Set To Release N200bn To Manufacturers, SMEs

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BOI Set To Release N200bn To Manufacturers, SMEs....KINDLY READ THE FULL STORY HERE▶

The Bank of Industry (BOI) has announced plans to allocate a total of N200 billion to support manufacturers and small businesses nationwide through three distinct funding categories……CONTINUE READING

 

 

 

 

 

 

 

 

 

 

According to a statement from the development bank, the funds comprise the Presidential Conditional Grant Scheme, the FGN MSME Intervention Fund, and the FGN Manufacturing Sector Fund.

The Presidential Conditional Grant Scheme, amounting to N50 billion, aims to provide grants to eligible nano business owners. The grants, which do not require repayment, will benefit at least 1,000 recipients, with a focus on women and youth entrepreneurs, across the 774 local government areas and six council areas in the Federal Capital Territory.

The eligibility criteria include ownership of a nano business, willingness to register a business name as the enterprise expands, readiness to hire at least one additional staff member as turnover increases, and provision of proof of residential/business address in the respective Local Government Area.

The FGN MSME Intervention Fund, totaling N75 billion, is designated to support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Each beneficiary is set to receive a maximum of N1 million at a nine percent all-inclusive interest rate per annum, with a tenure of years for equipment and working capital.

Similarly, the FGN Manufacturing Sector Fund, also worth N75 billion, targets eligible manufacturing companies to alleviate the impact of high production costs caused by infrastructural deficiencies and other factors. Beneficiaries may receive up to N1 billion, disbursed at a nine percent all-inclusive interest rate per annum, with a tenure of five years for term loans and one year for working capital.

The decision to disburse these funds aligns with the Federal Government’s commitment to supporting businesses amidst recent economic reforms. President Bola Tinubu pledged loans and grants to businesses nationwide to mitigate challenges arising from the austere business climate, following demands from organized labor for government palliatives.

The Bank of Industry has been tasked with executing the disbursement of these funds, ensuring their effective day-to-day administration.

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European Royalty Retained: PSG Defeats Arsenal 4-3 On Penalties To Lift the Champions League Trophy.

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Paris Saint-Germain have retained the UEFA Champions League title after a thrilling 4-3 penalty shootout victory over Arsenal. The final, held at the Puskás Aréna in Budapest, Hungary, on May 30, 2026, ended 1-1 after extra time.....KINDLY READ THE FULL STORY HERE▶

The match began with an immediate impact from Arsenal, as Kai Havertz capitalized on a pass from Leandro Trossard to put the London club ahead within the first six minutes. Arsenal maintained their lead for much of the first half, successfully frustrating the French champions.

The momentum shifted in the 63rd minute when a VAR review resulted in a penalty for PSG. Ousmane Dembélé stepped up to the spot and converted two minutes later, bringing the score level at 1-1. Despite intense efforts from both sides during the remainder of regulation and throughout extra time, neither team could find a winning goal.

The title was ultimately decided by penalties. In the shootout, PSG held their nerve, with Lucas Beraldo converting their final spot-kick. With Arsenal needing to score to force sudden death, defender Gabriel Magalhães sent his effort over the bar, sealing a 4-3 victory for the French side.

This triumph marks a historic achievement for PSG, who become the first French club to win the UEFA Champions League title in two consecutive seasons, having defeated Inter Milan 5-0 in the 2025 final. The victory also places head coach Luis Enrique among an elite group of managers to have secured at least three European Cup titles.

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The Ultimate Power Duo”: Peter Obi Picks Kwankwaso As Running Mate, Shaking Up The 2027 Race.

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Following his official ratification as the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi has selected former Kano State Governor Rabiu Musa Kwankwaso as his running mate for the 2027 general election.....KINDLY READ THE FULL STORY HERE▶

The announcement, made this Saturday, comes on the heels of Obi’s emergence as the party’s standard bearer. Having run unopposed as the sole aspirant, Obi was formally presented with the party’s flag during the nationwide primary exercises, which were monitored by officials from the Independent National Electoral Commission (INEC) in compliance with the Electoral Act.

This strategic pairing marks a significant step in the NDC’s preparations for the 2027 polls, with the party solidifying its ticket as it gears up for the upcoming campaign season.

Would you like me to help you draft any additional statements or social media content regarding this political alliance?

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Obi Secures NDC Ticket: The Battle Against Tinubu and Atiku Officially Begins

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The Nigeria Democratic Congress (NDC) has officially ratified Peter Obi, the former Labour Party presidential contender, as its flag bearer for the 2027 general election. The confirmation took place this Saturday during the party’s special national convention in Abuja, following nationwide primary exercises.....KINDLY READ THE FULL STORY HERE▶

Obi was affirmed as the party’s candidate after being the only individual to submit an expression of interest form, ultimately running unopposed.

During the event, party leadership formally presented the NDC flag to Obi, signifying his role as the party’s standard bearer. Key figures in attendance included the party’s National Leader, Senator Henry Seriake Dickson, National Chairman Cleopas Zuwoghe, and Rabiu Musa Kwankwaso, who is widely expected to be named as Obi’s running mate. Representatives from the Independent National Electoral Commission (INEC) were also present to monitor the proceedings in accordance with the Electoral Act.

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