Business
Osun Workers Shun Resumption Order
Civil servants in Osun on Monday refused to call off their four-week old industrial action over the N18,000 minimum wage, in spite of a directive given by the state’s Head of Service (HOS) for them to resume.
Reports said that government’s offices in the state’s capital were under lock.
The entrance gate to the state’s secretariat at Abere, was opened in anticipation that workers would obey the order but no public servant reported for duty.
We recall that the HOS on September 4 in a broadcast, ordered the striking workers to resume work on September 5.
Reacting to the directive, the Chairman of the Trade Union Congress (TUC), in the state, Mr Francis Adetunji, said that the HOS had no justification to direct the workers to resume work.
“HOS was not the one that directed workers to embark on strike, government is trying to cause division among the union members and it would not work,“ Adetunji stated.
He vowed that workers would not resume work if the State Government failed to implement the minimum wage across board as demanded by the two unions, the NLC and TUC.
Meanwhile the Osun Deputy Governor, Mrs Titilayo Tomori, and the Speaker of the state’s House of Assembly, Mr Najeem Salam, have appealed to the striking workers to stop the strike in the interest of the state. Tomori made the appeal at the 20th Anniversary Lecture marking the creation of the state.
She said the present administration was friendly to workers and ready to cater for their welfare, adding that the workers should join forces with the governor to develop the state.
In a release signed by his Press Secretary, Goke Butika, the speaker urged the workers to call off the strike and resume negotiation with the government for the resolution of the crisis.
He said that Gov. Rauf Aregbesola, had placed before the House programmes for approval to bring development to all the nooks and crannies of the state.
He further implored the workers to consider the plea of well-meaning indigenes of the state who had intervened in the matter and return to work.
The State Government had promised to pay N19,001 as minimum wage to its workers on grade levels 01 to 07 while N7,429, N6,611, and N5,096 are to be paid to workers on grade levels 08 to 10, 12 to 14 and 15 to 17, respectively.
The leadership of the NLC and TUC, are demanding the payment of the minimum wage to all grade levels.
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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