Business
FG Deploys $500m For SMEs Dev
Small-scale businesses in Nigeria may soon receive a $1 billion lifeline, courtesy of the African Development Bank (AfDB) and the Federal Government.
The AfDB may have concluded plans to disburse $500 million to the small businesses in the country, while the Nigerian government said it would set aside $500 million in bonds to assist the growth of the small business enterprises in the country.
President Goodluck Jonathan dropped the hint of the impending lifeline for the small scale businesses few days ago, while addressing the Nigerian workers.
Our correspondent reports that the theme of Jonathan’s address was, “Growing the National Economy for Job Creation and People’s Welfare.’’
He said that to further boost the economy, the government was on the verge of reducing the interest rate to single digit to facilitate borrowing. “All these are aimed at boosting the economy and creating more jobs,’’ Jonathan said.
The president also said that 10 power plants were being constructed to boost electricity supply. He added, “we are also building hydro-power plants in Mambilla and Zungeru, as well as, various other sub-stations across the country.
“All these are aimed at ensuring steady power supply in the country and boosting the economy through the creation of the job opportunities.’’
On workers’ welfare, Jonathan said the government was conscious of their suffering but added that efforts were being made to improve their lot.
According to him, the passage of the minimum wage bill into law has ensured that no employee earns less than N18,000. He gave an assurance that the proposed construction of 845,000 housing units for civil servants would be realisable. The president was represented by Vice-President, Namadi Sambo.
Also speaking, the Minister of Labour and Productivity, Chief Emeka Wogu said the enactment of the Employees Compensation Act would address insecurity in the work place, he stressed that workers, who sustained injuries during while on service must be compensated.
He added, “we shall also continue to come up with policies to encourage and promote social dialogue, as well as, the establishment of viable, collective machinery in both the public and private sectors of the economy.’’
The minister expressed delight at the patience and attitude workers displayed during negotiations for the minimum wage, noting that Nigerian workers were among the best in the world.
Abdulwaheed Omar, chairman of the Nigeria Labour Congress (NLC), said although the economy was said to have grown by more than six per cent, unemployment and poverty remained critical challenges facing the nation.
Omar urged the government to take steps to quickly reverse the current rise in the inflationary level.
“What we seek is a balance and inclusive growth; what is needed is the developmental state that will lead to creation of an economy that is people centred, one that would promote true development and not jobless growth,’’ he said.
Chairman of the Trade Union Congress, Mr. Peter Esele, said the challenge facing the country was to generate more wealth to meet a growing population that was projected to double in 2050.
Esele noted that increasing the size of the economy would require an annual gross domestic productivity growth in double digits to achieve the country’s 2020 millennium goal.
Nkpemenyie Mcdominic
Reports say that the training is designed to equip youths with practical technical skills for employment in the oil and gas and construction sectors, with emphasis on employability, safety, competence and self reliance.
In attendance at the flag-off ceremony this week, at the Petroleum Training Institute (PTI) Conference Hall, Effurun, were stakeholders, dignitaries, and political representatives, among others.
Dafinone, represented by his Chief of Staff, Adelabu Bodjor, said the initiative reflects a deliberate political investment in human capital development across Delta Central.
He explained that the training focuses on rigging and scaffolding, noting that “both are essential technical competencies required in industrial operations, construction projects, and oil and gas installations”.
Bodjor added, “The programme is intended to reduce dependency among youths by providing job-ready skills capable of supporting long-term economic opportunities and self-sufficiency. The initiative aligns with Senator Dafinone’s broader development agenda, which prioritises practical skill acquisition as a pathway to sustainable empowerment.”
Also addressing the participants, the NCDMB, Felix Omatsola Ogbe, represented by Mr. Teddy Bai, commended Dafinone for sponsoring the programme, describing it as “a timely response to critical manpower gaps in the industry”.
Bai explained that rigging and scaffolding remain safety-sensitive skills required across fabrication yards, offshore platforms, and construction sites, stressing that the programme bridges the gap between certification and practical competence.
He also charged the training consultant, OROH Contractors Limited, to maintain strict standards of professionalism, safety, and discipline, while urging participants to remain committed, focused, and disciplined throughout the exercise.
The Senate Liaison Officer for Sapele Local Government Area, Chief Patrick Akamuvba, , described the programme as a major step in strengthening human capital development in Delta Central.
Akamuvba said scaffolding and rigging skills are in high demand across residential, commercial, and industrial construction projects, noting that the training offers real employment opportunities for beneficiaries
He urged participants to prioritise knowledge and certification over short-term material expectations, stressing that discipline and seriousness would determine their long-term success.
He also cautioned youths against social vices and distractions, advising them to remain focused to maximise the opportunities provided by the programme.
