Business
Ore Industrial Park: Ondo Govt Sets Aside Over 50 Hectares For MSME, SMEs
As part of its commitment to ensuring the growth of Micro, Small and Medium Enterprises (MSEME) and Small and Medium Size Enterprises (SMEs), the
Ondo State Government has dedicated over 50 hectares of land for economic growth in the state.
The Managing Director, Ore Industrial Park, Dr. Femi Akinkuebi, made the disclosure while playing host to the state Chairman of Nigeria Association of Small and Medium Enterprises (NASME), Mr. GreatSeyi Akintunde, who visited the industrial site in Ore recently.
While calling on MSEME and Small SMEs in the state to explore the inexhaustible benefits attached to the Ore industrial facility, the MD said this will repress unemployment, restiveness, lure of lucre, among other societal vices.
Describing the park as the largest in the South West, the MD said the derived benefits for artisans would also identify bottlenecks and bring about economic resurgence of the country, adding that Government will give grants to Medium and Small Scale enterprises in the state.
“SMEs are known to have significant relevance to all world’s economies. In most parts of the world they constitute about 90 percent of all business enterprises while in Nigeria, SMEs contribute 48% of national GDP, and it also account for 96% of businesses and 84% of employment,” he said.
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He added: “There’s a need for us to collectively change the narrative from a civil servant state to an emerging industrial giant, this we can achieve by using our numerous resources to transform the State to a manufacturing hub”, Akinkuebi said.
He continues: “The opportunity here is massive compared to Akure Mini industrial park or any other industrial park in the South-West, every serious investor should be here”
He also assured them of the State Government readiness in partnership with the Federal Government to providing grants for MSME/SMEs in Ondo State.
The Chairman who was conducted round the Industry, expressed euphoria with the SMEs hub, with over 500,000sqm dedicated to SMEs/MSMEs.
The Ore Industrial Park is a Public-Private Partnership (PPP) between the Ondo State Government and Hessmac Industry Limited, which is established on a massive 1000 hectares of eco-friendly and industrially zoned land. The Park also had its own installed 30MW trio-fuel independent power plant which is dedicated to providing power in the park.
Business
Again, Dangote Refinery Hikes Fuel Price
Dangote Refinery has increased the ex-depot price of petrol by N75, bringing the price up to N1,350 per litre from the previous price of N1,275.
This is the first fuel increase by the Refinery in the month of May.
READ ALSO:JUST IN: Dangote Refinery Reduces Petrol Price
This latest development is coming seven days after the refinery raised its ex-depot price from N1,200 to N1,275 per litre.
Recall that the refinery on April 29 increased the ex-depot price of petrol by N75.
Business
Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO
Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”
He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.
Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”
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According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.
The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.
He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.
According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.
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He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.
“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.
“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.
“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”
When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”
Business
JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike
Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.
Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.
This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.
Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.
According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.
READ ALSO:Drivers Protest Fuel Increase, Raise Fares in Benin
However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.
This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.
Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.
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