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Hardship: 10 million MSMEs Shut In 2023, Says ASBON

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The Association of Small Business Owners of Nigeria has said no fewer than 10 million small businesses under the association were shut in 2023.

ASBON’s President Femi Egbesola, who disclosed this during an interview with The PUNCH, said that the businesses ceased to exist due to economic hardship.

The removal of subsidy by President Bola Tinubu during his inauguration on May 29 and the subsequent increase in the pump price of petrol and other basic commodities, leading to worsened inflation, an increase in unemployment, and poverty rates created hardship for Nigerians.

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According to the National Bureau of Statistics, in November 2023, the headline inflation rate increased to 28.20 per cent relative to the October 2023 inflation rate, which was 27.33 per cent.

READ ALSO: FG Receives $2.25bn Afrexim Bank Loan

Speaking on the effect of the economic hardship on members, Egbesola said, “We experienced about 25 per cent death of businesses this year (2023), which is a high and alarming figure. This is the percentage that was determined after thorough research.

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“At the moment, we have 40 million MSMEs in the country that are captured by data. When you are talking about 25 per cent of that, that is 10 million businesses that have died.

“In some countries, if this happens, a state of emergency would be declared by the government in this sector because it is a critical sector that will be metamorphosed from micro to small, small to medium, and from medium to large. If you can ask, for the past 10 years, how many micro or small businesses have become large businesses?

“You will never see it, and that tells you that there is a lacuna and that something is mitigating against the growth. If a business has operated as a micro, small, or medium for a period of five to 15 years and is unable to migrate to a large, then there is a big problem that should be investigated and solutions provided for, but without this being done, we will not have bigger businesses, and if we don’t have bigger businesses, there will be more unemployment, there won’t be innovation, our GDP will not improve, and poverty will continue to rage.

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“When there is poverty, it goes along with its attendant problems like crimes, like japa, yahoo-yahoo and other social vices which are not good for our country.”

According to him, to save more businesses from collapsing in the coming year, the Federal Government must endeavour to fix power and roads and make forex and funds available to MSMEs.

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He added, “When these things are fixed, certainly a lot of businesses will grow. We can no longer buy fuel at very exorbitant prices to power our generators, and one of the critical challenges for MSMEs is that they are unable to access affordable funds.

“This will help to awaken ailing and almost dead businesses. As far as forex is concerned, we depend on the black market, which is very exorbitant because the banks sell only to big companies at the detriment of micro and small businesses.”
PUNCH

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Tragedy In The Sky As Pilot Dies Mid-air

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What began as a routine trip from Seattle to Istanbul turned tragic. Turkish Airlines Flight 204 was cruising normally when one of the captains, 59-year-old İlçehin Pehlivan, suddenly collapsed.

Despite the crew’s efforts, he sadly passed away mid-flight a veteran aviator lost among the skies he loved.

Over the radio, the co-pilot’s voice trembled: “Initially we had three pilots, but we lost one of our captains today.

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That’s why we’re diverting to JFK.” Air traffic controllers responded with compassion, arranging medical help on the ground.

READ ALSO:Travel Chaos: Air Canada Shut Down By Flight Attendant Strike

The aircraft landed at New York’s JFK Airport at dawn, met by emergency teams and a heavy silence. Turkish Airlines later paid tribute to Captain Pehlivan, who had passed medical checks just months earlier and spent nearly two decades flying safely around the world.

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Passengers continued to Istanbul, but the memory of this flight endures a reminder of the resilience of aviators, the fragility of life, and the bond shared by those who soar through the skies.

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Foundation Engages Traditional Leaders To Curb GBV In Bauchi

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The Iqra Foundation for Women and Youth Development (IKFWYD) has engaged traditional leaders across three Local Government Areas (LGAs) in Bauchi State to promote male involvement in efforts to curb Gender-Based Violence (GBV).

The intervention is being implemented in Bauchi, Ningi, and Toro Local Government Areas.

Speaking during an advocacy visit, Mr. Ismail Umar, the Monitoring and Evaluation Officer of the foundation, said the role of traditional institutions in influencing positive behavioural change could not be overstated.

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 “The programme is designed to engage men on issues related to protecting the rights of women and girls.

READ ALSO:Bauchi Board Laments Low Teacher Turnouts In Training Exercise

“Family wellbeing and social harmony cannot be achieved without the meaningful involvement of men.”

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Umar noted that challenges such as gender-based misunderstandings, domestic tensions, poor communication between spouses, and limited awareness of shared responsibilities often contribute to family instability.

By focusing on men as partners in promoting peace and wellbeing, this programme aims to reinforce their positive influence within families and communities.

We are piloting the initiative in Bauchi, Ningi, and Toro LGAs, and are engaging respected community members to support and guide male involvement in promoting peace, family wellbeing, and the dignity of women.”

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He further explained that the initiative would foster unity and cooperation between men and women as partners in building stable and peaceful homes.

READ ALSO:Bauchi Begins Production Of Exercise Books, Chalks For Schools

Also speaking, Mr. Bamidele Jacobs, Director of Legal at Lawyers Alert, an implementing partner of the project, said the engagement of men was crucial to ensuring sustained support and protection for women in the state.

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In their separate remarks, traditional rulers expressed their support and commitments to the programme.

Alhaji Yusuf Danyaya, the District Head of Ningi, pledged to mobilise men for the initiative, noting that “a violence-free home leads to a peaceful society.”

Similarly, Alhaji Hussaini Uthman, District Head of Miri in Bauchi metropolis, said the mission of the programme aligns with the traditional role of community leaders in fostering reconciliation between couples.

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On his part, Alhaji Umar Adamu, the District Head of Toro, said addressing GBV is a collective responsibility to ensure that communities remain safe and peaceful.

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Okpebholo Believes In Courage, Capacity Says Edo Poly Rector

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The acting rector of Edo State Polytechnic, Usen, Dr Nosakhare Arodoye has promised to implement to the fullest the SHINE agenda of the state government.

Dr Arodoye said he was appointed by the governor to change the narrative of the Polytechnic from the present state to global standard with market-ready graduates and wealth creators within and outside Nigeria.

He spoke during the handover ceremony of the leadership in the state tertiary institution.

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According to him, “the governor sent me here for development that will position this institution in a manner that will be productively and evidently attractive to all for visible intellectual results and deliveries.

READ ALSO:Abductors Demand ₦5m As Teenager Is Kidnapped In Edo

“I’m for greater impact, lesser noise, the governor as a game changer understands this hence he approved my appointment as a tool for change in Edo Poly. Governor Okpebholo believes in courage and capacity.

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“The governor is not a cut to size, he knows how the academic environment works. You can see that his team is made up of global scholars and that is where I belong.

“I’m here to work, I’m going to teach, courses must be allocated to me. I go for what people run from as a progressive, just like the governor, you can see the turnaround of things affecting every area positively.”

Earlier, the immediate past acting rector, Engr. Sylvester Omoruyi briefed the new rector on the present state of the institution particularly the continuous support from the state government.

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READ ALSO:JUST IN: Okpebholo Nominates Another 5 Persons As Commissioner-designates

He said Sen Monday Okpebholo has cleared the backlog of salaries as staff now receive their salary as at when due.

He noted that a total of twenty-two programmes have successfully been accredited with NYSC calling for various HND awarding departments.

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On partnership, he said the polytechnic is currently in collaboration with Xianzi and Fuzhou Polytechnic in China where seven students are currently undergoing studies on student exchange programmes.

Before arriving at the polytechnic premises, Dr Arodoye had visited the palace of the Elawure of Usen, Oba Oluogbe III.

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