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SMEDAN Seeks Collaboration To Boost Industries

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Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has called for meaningful collaboration among agencies in the country to boost activities of entrepreneurs.

The Director -General of SMEDAN, Alhaji Muhammad Umar, who noted this, said in a recent statement that such collaborations would go a long way to improving economic development.

Speaking at a meeting with the Director-General, Raw Materials Research and Development Council (RMRDC), Prof. Azikwe Onwualu, stressed the importance of inter- agency collaboration, adding that, it was crucial to the realisation of the agency’s mandate.

According to him, both agencies were created by the government. He said the government created the two agencies so that they can collaborate to develop the nation.

Umar also stated that SMEDAN and RMRDC partnership would open a new vista for economic development in Nigeria, as RMRMC has the data of raw materials.

He added that SMEDAN will capitalise on this to develop MSMEs in Nigeria.

The SMEDAN DG noted that an SME sector that is built on imported technology is unfavourable, adding that SME must be built on local technology. He also congratulated the RMRDC for initiating the Raw materials processing cluster, adding that with their collaboration, the cluster concept would be strengthened as SMEDAN has now taken charge of Industrial Development Centres all over the federation.

Umar also said that with the partnership between the two agencies, they could develop one enterprises based on the natural endowment of the local government areas and this should cover all the 774 local governments areas in Nigeria. He suggested that both agencies should come up with a framework for achieving this goal.

In his response, Onwualu commended SMEDAN for taking a bold move to partner with the council considering the fact that the mandate of the council covers all the sectors of the economy. He said the council has funded research on raw materials and generated information on natural resources of all local governments and states in Nigeria.

He said RMRDC also always released data to investors and its impact was felt all over Africa.

Onwualu also said the council has commenced the promotion of Raw materials processing cluster, a policy he said has already been accepted by the Federal Ministry of Industry. According to him, the advantages of a cluster concept were too numerous and it would stimulate the growth of MSMEs in Nigeria.

Professor Onwualu further said RMRDC was in support of the one cluster per local Government in the next four years adding it was achievable and would be supported.

He pointed out that one major constraints facing SMEs is funding, ”I believe we can work together and assist SMEs with facilitating access to funding,” he stated.

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NCDMB, Partners Sweetcrude On Inaugural Nigerian Content Awards

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The Nigerian Content Development and Monitoring Board (NCDMB), in partnership with a firm, Sweetcrude Ltd., has announced detailed selection criteria for the inaugural “Champions of Nigerian Content Awards”, designed to honor outstanding contributions to local content development in Nigeria’s oil and gas sector.
The Tide learnt that the event, scheduled to hold 21st May, 2025, at the NCDMB’S content tower headquarters in Yenagoa, capital of Bayelsa State, will recognize individuals and organizations that have demonstrated exceptional commitment to advancing Nigerian Content in 2024.
The Tide further gathered that the ceremony will coincide with the Nigerian Oil and Gas Opportunity Fair (NOGOF), which promises to spotlighting industry excellence and contributions to national economic transformation.
A statement by the Board’s Directorate of Corporate Communications and Zonal Coordination says the event has 12 Award Categories, which include, “Nigerian Content Icon of the Year”, “Nigerian Content Lifetime Achievement Award”, “Nigerian Content International Upstream Operator of the year”, and the “Nigerian Content Independent Upstream Operator of the year”.
Others are, “Nigerian Content Midstream Operator of the year”, “Nigerian Content Downstream Operator of the year”, “Nigerian Content International Service Company of the year”, Nigerian Content Indigenous Service Company of the year”, and the “Nigerian Content Innovator of the year”.
Also included are, “Nigerian Content Financial Services Provider of the year”, “Nigerian Content Media Organization of the year”, and “Women in Leadership Award for Promoting Gender Equality and Empowerment”.
According to the NCDMB, the criteria for oil and gas operators will include key and empirical benchmarks such as Production output for crude oil and gas volumes, Compliance with Nigerian Content Plans (NCPs) and Nigerian Content Compliance Certificates (NCCCs).
Other criteria are adherence to NOGICD Act reporting requirements, such as submission of Nigerian Content Performance Reports and Employment & Training Plans.
The Board’s statement added that similar criteria will apply to financial institutions, media organizations, and individuals, ensuring a transparent and merit-based selection process.
“Winners for the Nigerian Content Icon of the Year, Innovator of the Year, and Women in Leadership Award will also be selected based on measurable performance indicators.

“The Advisory Committee of Industry Titans will Oversee the process to uphold the prestige of awards. The Committee consist of distinguished experts set up to oversee nominations and validate winners”, the NCDMB said.

Members of the committee, according to the Board, include: Pioneer Executive Secretary of the NCDMB, Dr. Ernest Nwapa; Secretary-General, African Petroleum Producers Organization, Dr. Omar Farouk; and former Zonal Operations Controller, DPR, Mr. Woke Akinyosoye.

The Statement quoted the Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe, as emphasizing that the awards aim to becoming the oil and gas sector’s equivalent of the Oscars, celebrating genuine impact rather than mere participation.

“This recognition is reserved for those who have gone beyond compliance to drive tangible growth in Nigerian Content.

“With a focus on credibility, compliance, and measurable impact, the Champions of Nigerian Content Awards is poised to set a new standard for excellence in Nigeria’s energy sector”, the NCDMB Executive Scribe said.

By: Ariwera Ibibo-Howells, Yenagoa

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Nigeria’s Debt Servicing Gulped N696bn In Jan – CBN

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Nigeria’s apex Banking institution, Central Bank of Nigeria (CBN), has declared that Federal Government’s debt servicing increased to N696billion in January 2025.
The CBN’s recently published Economic Report revealed a precarious fiscal position, which worsened in January 2025 as debt servicing obligations exceeded total retained revenue by a wide margin.
According to the report, the Federal Government’s debt servicing obligations for the month stood at N696.27bn, while total retained revenue amounted to only N483.47bn, indicating that debt service alone consumed about 144 per cent of all government earnings.
This development highlights the growing debt burden and dwindling fiscal space facing Africa’s largest economy.
According to the report, despite slight improvements in some revenue categories, the retained earnings were grossly inadequate to cover obligatory debt repayments, exposing the government’s continued reliance on borrowing to meet basic obligations.
The report further revealed that retained revenue in January 2025 only recorded a marginal 0.89 per cent increase when compared with the N479.21bn generated in the corresponding month of 2024.
”FGN retained revenue declined in the review period, owing largely to lower receipts from Federal Government Independent Revenue and FGN’s share of exchange gain.
“At N0.48tn, provisional FGN retained revenue was 69.19 and 70.40 per cent below the levels recorded in the preceding period and monthly target, respectively”, it revealed.
While this points to stagnation rather than growth, the marginal rise was wiped out by the overwhelming debt service obligations.
The retained revenue components showed that the Federation Account contributed N167.69bn, while the VAT Pool Account delivered N90.73bn.

By: Corlins Walter

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Wage Award: FG Plans 5 Months Arrears Payment

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The Federal Government has announced plans to commence the payment of the outstanding N35,000 wage award arrears owed workers in the Federal Civil Service.
A statement issued by the Office of the Accountant-General of the Federation (AGF), which was signed by the Director of Press and Public Relations, Bawa Mokwa, said the outstanding arrears will be paid in instalments, with workers set to receive N35,000 per month for five months.
It clarified that the first tranche of the wage award arrears would be released immediately after the April salary payment.
“The wage award arrears was not  paid with the April 2025 salary; it will come immediately after the salary is paid”, the statement read.
The Federal Government had earlier disbursed wage awards to federal workers for five months as part of efforts to cushion the impact of economic reforms. However, five months’ arrears remained unpaid.
The AGF office further reiterated the government’s commitment to fully implementing all policies and agreements relating to staff remuneration and welfare, noting that such efforts were geared towards enhancing productivity and operational efficiency across ministries, departments, and agencies.
The N35,000 wage award was introduced in 2023 as a palliative measure to support workers following the removal of the petrol subsidy and other economic adjustments.
In January this year, the Federal Government assured workers that it would clear the arrears of the N35,000 wage award, just as it also said the government had resumed the payment of the wage award.
The government also reiterated its commitment to addressing issues in the National Minimum Wage agreement reached with the Organised Labour in 2023.
The Minister of Labour and Employment, Nkeiruka Onyejeocha, had disclosed the government’s commitment towards implementing agreements with trade unions during separate meetings with the leadership of the Trade Union Congress and Congress of University Academics, in Abuja.
The Nigeria Labour Congress had criticised the Federal Government over the delay in the payment of the minimum wage for certain workers in the federal civil service.
Also, the Federal Government had earlier blamed the delay in payment on the prolonged approval of the 2025 budget.

By: Corlins Walter

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