News

President Buhari Diversifying Economy From Over-dependence On Oil, Gas – Says Ngige

Published

3 years ago

November 7, 2022

Editor

Dr Evelyn Ngige, the Permanent Secretary, Federal Ministry of Industry, Trade and Investment, has said that President Muhammadu Buhari-led administration was trying to diversify Nigeria’s economy from over-dependence on oil and gas.

Ngige stated this in Bauchi on Monday, during the opening ceremony of the 14th meeting of the National Council on Industry, Trade and Investment.

According to her, the meeting could not have come in a better time than now when all efforts are being made by the federal government to further fortify the economy by devising means to diversify it from its present overdependence on the oil and gas sector.

She said, the National Council on Industry, Trade and Investment is the highest Policy Advisory Body in the sector, under the Chairmanship of the Honourable Minister of State of Industry, Trade and Investment, Mariam Katagum.

The Permanent Secretary explained that the main purpose of the Council meeting was to brainstorm, strategise, deliberate and recommend policies and programmes aimed at addressing challenges facing the sector.

“Today, major economies, particularly in the developed world are driven by the industry, trade and investment sectors.

“We must therefore redouble our efforts towards turning our industry, trade and investment sectors into the main engine of growth of the national economy for the common prosperity of all Nigerians.

“It is important to note that decisions reached by the Council will be escalated for the consideration of the Federal Executive Council, after which the implementation of the decisions will be coordinated by the Federal Ministry of Industry, Trade and Investment.

“In the next two days, our job here as technical officials will be to deliberate on all the Memoranda received and recommend appropriate decisions for presentation and consideration by the Ministerial Council on Thursday, 10th November 2022,” she said.

Ngige, who revealed that the council had received over 70 memoranda from various Ministries, Department and Agencies (MDAs) for deliberations and consideration, urged the stakeholders to thoroughly examine them for appropriate recommendations.

She said these recommendations would further strengthen the sector to deliver economic growth and development through industrialisation and increase investment in the local economy for employment generation and wealth creation.

In her address, Hajiya Zainab Takko, Bauchi state Commissioner for Commerce and Industry, said that the National Council meeting was a very important forum where far-reaching decisions pertaining to the industrial growth and development of the Country were discussed.

She added that it is a forum where workable solutions are proffered to move the nation towards economic independence and self-reliance in both the public and private domains of the economy.

The commissioner further said that Bauchi state had keyed into numerous federal government Programmes and initiatives bordering on Commerce, Industry and Investment.

The Five-day meeting was organised by the Federal Ministry of Industry Trade and Investment (FMITI) in collaboration with the Bauchi state Ministry of Commerce and Industry.

The theme of the meeting is ‘Strengthening Industry, Trade and Investment sector in promoting development in the country’.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour 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

2 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

4 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.