Business
Scarcity Looms As NUPENG Suspends Fuel Distribution In Badagry
Some parts of the country may experience fuel Scarcity any moment from now if the National Union of Petroeulm and Natural Gas Workers of Nigeria (NUPENG) does not resume distribution of fuel to Badargry in Ogun State. Already, most of the petroleum stations in Badagry communities have closed NUPENG suspended distribution of fuel to the city.
Mr Tayo Aboyeji, chairman, South-West Chapter of the union told our correspondent in Badagry that the suspension was due to harassment and molestation of its members by men of Customs and Army in the area.
The chairman said that the customs under the Joint Border Patrol Operations arrested a tanker driver who missed its way in Badagry and drove it to Nigeria Customs Service (NCS).
The customs was of the Federal Operations Unit (FOU) Zone ‘A’ in Ikeja.
“A tanker driver from Port Harcourt was sent to Badagry to deliver petroleum to a station, unfortunately he missed his way and while asking for direction, the tanker driver was arrested by the men of joint border patrol.
“The tanker was taken to FOU in Ikeja. I wrote to the controller on the issue and met DC Enforcement on the matter and I was directed to the officer in charge of legal issues in same office.
“OC Legal told me that he had not received the file from joint patrol operation office and promised to call me later.
“But surprisingly, our enforcement unit in Agbara stopped a tanker to check his paper to find out if its delivery documents were intact, but there were errors in his documents,” he said.
Aboyeji said that the NUPENG enforcement team thought it was a stolen product, adding that they did not know that it was a product that was under investigation that had been sold to a buyer.
“ Thinking that it was a stolen product, they drove it to Area K Police Command in Morogbo.
“I wrote a petition to the Lagos State Commissioner of Police as regard to the incident.
“Surprisingly, soldiers under the drilling exercise came to police station beat my members and forcefully drove away the tanker with its contents.
“We later heard that the tanker was used to remove the petroleum of a filling station in Badagry that had been sealed since February1.
“Both the products and the tanker have not been found, this is not done in a civilized society, a product under investigation to be sold out just like that,” he said.
According to him, we have directed our members to stop distribution of petroleum to Badagry until justice is done.
He said NUPENG will be forced to extend the suspension to Lagos as a whole if nothing to correct the injustice was done to members.
“An injury to one, is an injury to all,” he said.
Meanwhile, all efforts to get Mr Jerry Attah, the spokesman for FOU Zone A Ikeja to react to the allegations proved abortive as he did not respond to calls and messages sent to him.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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