News

Reps Approve Special Bank For Entrepreneurs, Small Businesses

Published

4 years ago

June 29, 2022

The House of Representatives has passed for second reading, a bill seeking to establish an Entrepreneurship Development Bank of Nigeria, with the aim of providing soft loans for small and medium-scale enterprises in the country.

The consolidated bill was jointly sponsored by Messrs Benjamin Kalu and Olalekan Afolabi

The legislation is titled ‘A Bill for an Act to Establish Entrepreneurship Development Bank of Nigeria to Charge It with the Responsibility, Among Other Things, to Provide Medium and Long-Term Finance for Indigenous Small Businesses and to Provide for Establishment of Nigerian Entrepreneurship Development, Encourage Aspiring Entrepreneurs and Small Scale Enterprises in Nigeria.’

Leading the debate on the bill at the plenary on Wednesday, Kalu said the proposed bank would be charged with the responsibility, among other things, of providing medium and long-term finance for indigenous small businesses.

He added that the bill, which July 18, 2019, focuses on Nigerian youths and contemplated providing improved access to finance for youth entrepreneurs in innovation, manufacturing, agriculture and trade.

Kalu said, “In Nigeria today, due to numerous socio-economic challenges, many youths depend on themselves and drive their own future by creating opportunities for themselves and others, by undertaking different entrepreneurial ventures toward self-reliance. However, this group of people still need capacity building, financial support and favorable policies.

“The strength of any nation depends on the policy framework and initiatives put in place to develop and empower the youth in order to maximise their potentials, talents and untapped capacities in nation building. Without a vibrant, skilled, focused and equipped youth, no nation can rise to its full potential because the youth are the visionaries and producers who power nations to greater heights.

“Youths are estimated to constitute about 70 per cent of the population of Nigeria. This is a huge advantage for a nation that is seriously and furiously pursuing national development. The youth are assets to a nation, not liabilities. The youths, if well-educated, trained and motivated, can utilize their mental, technical and visionary power to develop the Nigerian economy.”

According to the lawmaker, a fundamental challenge to youth entrepreneurship capacity is the lack of access to functional and effective finance. He stated that the existing financial institutions are not really servicing the real needs of the indigenous business or initiatives owned and run by the youth.

“In most cases, their requirements are way beyond the reach of such entrepreneurs; and their operational modalities are not really designed to deliberately encourage indigenous small businesses. A closer look at the operational modalities of the Bank of Industry, Bank of Agriculture and the Development Bank of Nigeria would show that there is no clear-cut intention and support for indigenous small businesses owned and run by youth.

“Commercial and microfinance banks are not even feasible options for indigenous small businesses. This is the gap which the contemplated bank would fill. There is a need for a specialised bank, which would target the youth at different levels and scope with emphasis on harnessing abundant potentials for economic growth and greatness of the nation,” he said.

News

NMA To Withdraw Medical Services In Edo Over Kidnapped Colleagues

Published

1 hour ago

January 9, 2026

Editor

The Nigeria Medical Association (NMA), Edo State Branch, has threatened to withdraw medical services across the state, effective from Saturday, 10 January, 2026.

This followed the recent abduction of two medical doctors on January 1st and 2nd, 2026.

Chairman of the NMA Edo State branch, Dr. Eustace Oseghale, in a statement made available to newsmen in Benin on Friday, stated that the withdrawal of services was a direct consequence of the abduction of their colleagues and a reflection of the heightened sense of vulnerability among medical practitioners in the state.

Oseghale, on behalf of the NMA, called for immediate release of the abducted doctors and implementation of measures to prevent future incidents.

The statement reads: “This incident raises concerns about healthcare professionals’ safety in Edo State, threatening their lives and undermining healthcare delivery.

“We demand the immediate release of our abducted colleagues as well as enhanced security protocols for Edo State residents and regular engagement between NMA Edo and the Edo State Government on security concerns.”

The NMA Chairman, while insisting on withdrawal of services statewide if their demands aren’t met, stressed that a safe working environment is crucial for healthcare providers.

“We’ll continue to withhold services until our demands are met and colleagues are safe.

“We urge a swift resolution and the safe return of our colleagues. Security operatives should take this seriously, as they’ll be held responsible for the consequences of our action,” Oseghale said.

News

Edo Targets 2.2 Million Children For Measles, Rubella Vaccination

Published

13 hours ago

January 8, 2026

Editor

The Edo State Government says it is targeting about 2.2 million children aged between 0 and 14 years for measles and rubella vaccination across the state.

The Director of Disease Control and Immunization at the Edo State Primary Health Care Development Agency, Dr. Eseigbe Efeomon, who disclosed this during stakeholders’ sensitisation meeting in Benin City, said this would be done in collaboration with development partners.

Efeomon, while noting that the vaccination exercise scheduled to hold simultaneously from January 20 to January 30, 2026, across the 18 local government areas of Edo State at designated health facilities and temporary vaccination posts, said the campaign aims to contribute significantly to the reduction of measles and rubella in Nigeria.

He explained that achieving this target requires increased population immunity through sustained vaccination.

Dr. Efeomon stressed that only qualified and certified health workers would be recruited as vaccinators because the vaccines are injectable.

According to him, the vaccination strategy would involve fixed posts and temporary fixed posts, and vaccination cards would be issued to all vaccinated children as proof, which parents and caregivers are advised to keep for future reference.

He added that vaccination teams would visit schools, churches, mosques, markets, motor parks, internally displaced persons’ camps and other public places, while children who receive the vaccine would be finger-marked to prevent double vaccination.

He reiterated that the overarching goal of the campaign is to drastically reduce rubella incidence nationwide and protect children from preventable diseases through effective immunisation coverage.

Also speaking, the World Health Organization Local Government Facilitator, Mr. Ajaero Paul, described measles and rubella as major causes of death and congenital abnormalities among children globally.

He said both diseases are preventable through the measles-rubella vaccine, which he described as safe and effective,

He added that sustained advocacy is critical to reducing child mortality and lifelong disabilities.

On his part, UNICEF Social and Behavioural Change Health Officer, Yakubu Suleiman, emphasised that the measles-rubella vaccine is safe and effective for all children aged nine months to 14 years.

He stated that the government has fully paid for the vaccines, making them available at no cost to all eligible children in government health facilities across the state.

Suleiman explained that vaccination not only protects individual children but also safeguards communities from deadly vaccine-preventable diseases such as measles and rubella.

He added that even children who had previously received the measles vaccine should still be given the measles-rubella vaccine and appealed to schools and other key stakeholders to support the campaign to ensure that no child is left behind.

News

Togo, Niger, Benin Owe Nigeria Over $17.8m For Supplied Electricity – NERC

Published

18 hours ago

January 8, 2026

Editor

Nigeria’s electricity regulator has disclosed that three neighbouring countries, Togo, Niger and Benin, are indebted to Nigeria to the tune of $17.8 million, equivalent to more than N25 billion at prevailing exchange rates, for power supplied under bilateral electricity agreements.

The Nigerian Electricity Regulatory Commission, NERC, made this known in its Third Quarter 2025 report, which reviewed market performance within the Nigerian Electricity Supply Industry, NESI.

According to the report, the international customers were billed a total of $18.69 million by the Market Operator for electricity supplied during the third quarter of 2025. However, only $7.125 million was paid, leaving an unpaid balance of $11.56 million for the period under review.

NERC also revealed that the same international offtakers had outstanding legacy debts amounting to $14.7 million from previous quarters. Of this amount, $7.84 million was settled, leaving a residual balance of $6.23 million.

When combined with the Q3 2025 shortfall, the total outstanding debt stood at $17.8 million, which translates to about N25.36 billion at an exchange rate of N1,425 to one US dollar.

The regulator identified the international electricity customers as Compagnie Énergie Électrique du Togo, Société Béninoise d’Énergie Électrique of Benin Republic, and Société Nigérienne d’Électricité of Niger Republic.

NERC stated that the three utilities collectively paid just $7.125 million against the $18.69 million invoice issued for electricity supplied in the third quarter, resulting in a remittance performance of 38.09 per cent.

This meant that more than half of the billed amount remained unpaid at the close of the quarter.

The commission explained that the electricity exported to the three countries was generated by grid-connected Nigerian generation companies and delivered through cross-border bilateral power supply arrangements.

By contrast, NERC reported a stronger payment performance among domestic bilateral customers. According to the report, local customers paid N3.19 billion out of the N3.64 billion invoiced for the same quarter, representing a remittance rate of 87.61 per cent.

The regulator further noted that some bilateral customers, both international and domestic, made additional payments to offset outstanding invoices from earlier quarters.

Specifically, the Market Operator received $7.84 million from international customers and N1.3 billion from domestic customers in settlement of previous obligations.

Beyond bilateral transactions, NERC disclosed that Nigeria’s 11 electricity distribution companies remitted a total of N381.29 billion to the Nigerian Bulk Electricity Trading Plc and the Market Operator in the third quarter of 2025. This was out of a cumulative invoice of N400.48 billion, translating to an overall remittance performance of 95.21 per cent.

The commission said the figures were derived from reconciled market settlement data submitted as of December 18, 2025, as part of its statutory evaluation of the commercial health and performance of the electricity market.