News

Bill On Unemployment Benefit Scales Second Reading

Published

2 years ago

May 8, 2024

Editor

The Senate on Wednesday passed for second reading, a bill seeking the establishment of a National Internship and Unemployment Benefit Scheme.

The passage of the bill followed a lead debate by the sponsor, Afolabi Salisu (APC, Ogun Central) and contributions made by other Senators.

According to Salisu, the bill aims to offer unemployed graduates in Nigeria some part-time jobs where they can gain experience and earn stipends, preparatory for big offers.

The proposed law, he said intends to create a database of unemployed Nigerian youths, particularly graduates, with their respective disciplines and also establish a framework that will guide the provision of part-time jobs for youths while they search for full-time jobs.

According to him, the scheme, when established, would provide hope for graduates and allow them to acquire experience before they secure full-time employment.

The lawmaker also noted that the scheme would help address insecurity and criminal activities, arising from unemployment.

He also acknowledged existing agencies such as the National Directorate of Employment and the Industrial Trust Fund, stressing however that they have not been targeted adequately at the beneficiaries.

He believes that the scheme, which will have a database, will be more effective in streamlining interventions to the beneficiaries.

Though many lawmakers who made contributions supported the proposed legislation, Ahmed Wadada ( SDP Nasarawa West), argued that the bill may not be the solution needed to tackle unemployment in the country.

He added that the focus should be on creating an enabling environment for the private sector to thrive and consequently create jobs and not thinking of benefits for the unemployed.

“If the environment is enabling enough to up to 10 Dangotes, the rate of unemployment will be reduced to the barest minimum. The emphasis at all times should be to create the needed enabling environment,” he said.

After passage for second reading, the President of the Senate, Godswill Akpabio, who presided over the plenary session, mandated the Senate Committee on Labour and Productivity to look at the issues raised and report back to the House in four weeks for further legislative action.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

4 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

4 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

6 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.