News

FG Gives N1bn Loan To 1,000 MSMEs In Bauchi

Published

1 year ago

November 6, 2024

The Federal Government, through the Bank of Industry (BOI) has provided the sum of N1 billion to 1,000 Micro, Small and Medium Enterprises (MSMEs) business owners in Bauchi state.

Speaking during the sensitisation of the beneficiaries in Bauchi on Tuesday, Mr Isa Nadada, the Manager, Bank of Industry, Bauchi state branch, said the aim of the intervention is to revive the MSMEs in all the 774 local governments across the country.

According to him, the target of the federal government is to have 75,000 MSMEs as beneficiaries in order to create job impacts.

Represented by Mr Kabiru Musa, Project Officer, BOI, Bauchi branch, Nadada explained that the core mandate of the bank is not only to disburse funds but also to create job opportunities in order to relieve some burdens on the federal government.

“The interest rate is soft because it’s nine per cent all inclusive, either it is a term loan or a working capital.

“The tenure of the facility is three years and there is a six month moratorium.

“As I am talking to you now, I have successfully disbursed N1 million to four beneficiaries today who have met the requirements and we are here to enlighten some of the beneficiaries,” he said.

He said that after the applicant has successfully submitted his application online, officials from the bank would go to the place to see the business and make recommendations for final approval for the loan disbursement by the management.

Nadada added that the bank had earlier disbursed the sum of N50,000 to some nano business owners as a grant across the 20 Local Government Areas of the state in order to boost their businesses.

Also speaking, Mr Mohammed Shira, the state Commissioner for Cooperatives, Small and Medium Enterprises Development lauded the federal government for working toward the development of MSMEs in the state.

“Together, we can build a sustainable framework that not only addresses the immediate needs of our businesses but also lays the foundation for long-term growth.

“I want to emphasise that the Bauchi State Government through the Ministry for Cooperatives, Small and Medium Enterprises Development is here for you.

“We are committed to ensuring that this programme is implemented effectively and that it reaches those who need it most,” said the Commissioner.

In his address, Mr Abdulrasheed Aliyu, from Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Bauchi office, said the agency provides business development services and business clinics to the beneficiaries.

He said this is necessary in order to utilise the money for the purposes it was meant for.

Speaking on behalf of the beneficiaries, Ibrahim Musa, said they have been yearning for such an intervention for so long, adding that it would help the women who are based on petty trading.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

20 minutes 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

42 minutes 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

3 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.