News

Tax The Rich, Subsidize Electricity For The poor, Obi Tells FG

Published

2 years ago

April 7, 2024

Editor

The Presidential candidate of the Labour Party (LP) in the 2023 general elections, Peter Obi has charged the federal government to tax rich Nigerians to be able provide cheap electricity for the poor.

Obi said this in Bauchi on Sunday when he commissioned a water project he donated to Sabo Layi Community along Bauchi-Ningi Road.

“What we’ve been doing is going round communities in the country, and talking to people to learn and understand about their livelihood, and to see if there’s any little thing I can help with.

“The solution is very simple (referring to electricity tariff hike), you can increase the tariff for those in areas where they can afford it. We need to do a lot in the area of power generation, because it has taken so long. But we have to put into consideration that majority of Nigerians are suffering.

“So we need to support people in those areas to be able to live and be able to produce something. When they start to produce something, we are pushing them out of poverty and that’s where my theory of moving from consumption to production comes in.

“We can’t tax people first, we need to support small businesses and ensure that this tariff is not spread across the same level –for the big and for the small,” he said.

The former Anambra State governor also dismissed insinuations making the round that he might leave the party,

He said: “I only advocated for peace. I’m a man who believes in peace and unity. I believe that there is no difference between me and others but I have the grace of the Almighty.

“The Labour Party is not the problem of Nigeria, the problem of Nigeria is beyond the Labour party, so my focus is on Nigeria. My promise is a new Nigeria, and that new Nigeria is where I’m focused and we must remain focused on it.

“If it is not about the leadership of Nigeria, I wouldn’t have provided this water. Let’s talk about how people will live and eat, I assure you that the Labour Party will resolve those issues –it is family, no family without fight, no individual is perfect.

“That is why I’m coming down to the community, I could have sent someone to do this but I said no, I am going to the communities and embracing them, talking to them and knowing how to solve their problems.

“I have said it before, I’m not desperate to be president, I’m desperate to see Nigeria working for poor people. It is important for me because we cannot continue this way.

“The poor people in this country are suffering a lot and I am urging all leaders –in and out of office, this is time for us to listen, time to work with them (the poor), time to feel a bit of their pain.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 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

6 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

8 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.