News

FG To Disburse ₦6.3bn Interest-free Loans To 21,000 Flood Victims

Published

7 months ago

October 13, 2025

Editor

The Federal Government is set to disburse ₦6.3 billion in interest-free loans to 21,000 Nigerians affected by recent flood disasters across the country.

Minister of State for Humanitarian Affairs and Poverty Reduction, Yusuf Sununu, made this known on Monday in Abuja during a roundtable marking the International Day for Disaster Risk Reduction.

Sununu said the initiative aims to cushion the impact of flooding and enhance food security nationwide, Channels reports.

“In the next few weeks, 21,000 Nigerians will receive interest-free, collateral-free loans of ₦300,000 each.

“This intervention is designed to support farmers and strengthen communities affected by flooding,” he said.

The minister further revealed that the Federal Government, through the National Social Investment Programme, has reached over 8.1 million households with more than ₦300 billion in Conditional Cash Transfers.

“This support has improved the resilience, health, and education of many vulnerable households. The process will continue under the Hope Agenda of Mr. President,” Sununu added.

He also announced plans to empower internally displaced persons through a scheme that guarantees a market for their produce.

“Under our new collaboration with the Federal Ministry of Agriculture, IDPs will retain 30% of their produce while the government will off-take 70%, providing direct cash payments to the participants,” he explained.

In her remarks, the Director-General of the National Emergency Management Agency, Zubaida Umar, highlighted the growing threat of climate-related disasters and called for stronger preventive measures.

Umar noted that Nigeria faces increasing risks from climate change, conflicts, pandemics, and technological hazards, stressing that disaster management must shift from reactive to proactive approaches.

She also announced the launch of two key policy frameworks — the NEMA Strategic Plan (2025–2029) and the National Disaster Risk Reduction Strategy (2025–2030) to guide future disaster preparedness and resilience-building efforts.

“These frameworks promote innovation in financing, institutional collaboration, and risk-informed development,” she said, adding that NEMA is developing a National Risk Monitoring and Information Platform to enhance early warning and data-driven decision-making.

She further called for innovative financing options, including catastrophe bonds, climate funds, and blended finance models, to sustain disaster prevention and recovery initiatives.

The event, which focused on building resilience against climate-related disasters, was attended by Vice President Kashim Shettima, Deputy Speaker of the House of Representatives Benjamin Kalu, Zamfara State Governor Dauda Lawal, lawmakers, and international partners.

The PUNCH reports that 238 persons have lost their lives, while 135,764 others have been displaced following floods that swept through parts of the country as of October 10, 2025, according to figures obtained from the National Emergency Management Agency’s 2025 Flood Dashboard on Saturday.

NEMA reports that at least 409,714 people have been affected so far, with 826 sustaining various degrees of injuries and 115 reported missing across the country.

Flood-related deaths were recorded in multiple states, bringing the nationwide death toll to 238.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

2 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

3 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

5 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.