Editorial
Accessing The N220 Billion MSME Loan
On August 19, 2014, President
Goodluck Jonathan launched the
N220 bn Micro, Small and Medium Enterprises (MSME) fund to facilitate the growth of small businesses in Nigeria.
While 60 percent of the fund is to be channeled towards women entrepreneurial development given their proven commendable performance in business, states are eligible to access N2bn which is to be administered by commercial banks.
The scheme has been commended by financial sector operators, other stakeholders and MSMEs as one that has capacity to reduce poverty and create jobs that would enhance socio-economic development.
While we commend the scheme, we cannot fail to underscore long-standing concerns over hijack of similar schemes in the past by influential persons from persons they were intended for.
The spread and most of the eventual beneficiaries had been questionable, thereby negating the noble objectives of previous schemes of this nature.
These concerns are even more serious in this era of politics in which the scheme is exposed to the risk of partisan interests.
Over the years, experience has shown that provisions of this nature hardly get the targeted groups in Rivers State.
The lack of proper sensitisation and absence of technical support for wouldbe beneficiaries have also accounted for the diversion of such schemes from the targeted group.
Happily, the Central Bank of Nigeria (CBN) has not only earmarked 60 percent of the loan to women but also N2bn to each state of the federation.
The Tide hopes that as states access the loans, the percentage allocated to women would be respected. It is also hoped that micro businesses, small and medium enterprises and the socially-disadvantaged, including the physically challenged persons and albinos are equitably covered.
The State Ministry of Commerce and Industry should ensure adequate encouragement of women and sensitization of the citizenry on the need to benefit from the loan through co-operatives and MSMEs.
Indeed, the judicious spread of the funds to intended beneficiaries should be of paramount concern to the ministry.
In order that schemes of this nature are sustained, the authorities should ensure that the loans are paid back as and when due. It should not be seen as part of the national cake as had been the fate of some schemes in the past.
It has also become necessary for Non-Governmental Organisations and Community Based Organisations to play a more robust role in the sensitization of Nigerians in remote areas to enable them access this and other pro-poor schemes.
This they can do, particularly for women and physically challenged by helping them access the application forms based on the CBN guidelines and submitting the completed forms directly to relevant authorities.
There is also the need for authorities to formulate policies that would promote and protect small local businesses. Clearly, with the importation of cheaper products that could be produced locally, very little chance exists for the survival of the micro, small medium entrepreneur and his/her products.
Furthermore, the CBN should ensure that Microfinance Banks do not over-charge MSMEs. We are aware that the CBN charges Microfinance Banks 3 per cent interest on MSME loans while MFBs are to charge entrepreneurs 9 percent on the loan. This must be strictly monitored and adhered to, if MSMEs are to have a chance of survival and growth.
On its part, the CBN should work out effective ways of ensuring that the N220 billion MSME loan scheme not only gets to the targeted public but also achieves the desired impact in the development of the economy.
It could do this by deploying specialized teams to monitor the effective use of the funds by all beneficiaries.
Editorial
NCC, Save Nigerians From Exploitation
Editorial
WPFD: Nigeria’s Defining Test
Nigeria stands at a critical juncture as the world marked World Press Freedom Day (WPFD) on May 3. This annual observance is a reminder that a free press is central to democratic life, good governance, and public accountability. For Nigeria, it is also a moment for sober reflection on how far the country has come and how far it still has to go in safeguarding the independence of its media.
World Press Freedom Day exists to highlight the fundamental importance of freedom of expression and to honour journalists who risk their lives in pursuit of truth. It underscores the idea that without a free press, societies cannot function transparently, nor can citizens make informed decisions. In countries like Nigeria, where democracy continues to evolve, the observance carries particular urgency.
This year’s theme, “Shaping a Future at Peace: Promoting Press Freedom for Human Rights, Development and Security”, places journalism at the heart of global stability. It emphasises that a peaceful society cannot be built on silence, fear, or manipulated information. Rather, it depends on the free flow of accurate, timely, and independent reporting.
At its core, the theme highlights the role of journalism in fostering accountability, dialogue, and trust. These are not abstract ideals. In Nigeria, where public confidence in institutions is often fragile, the media remains one of the few platforms through which citizens can question authority and demand transparency. When press freedom declines, so too does public trust.
Journalism serves as a foundation for peace, security, and economic recovery. Countries with robust media systems tend to attract greater investment, maintain stronger institutions, and resolve conflicts more effectively. Nigeria’s economic challenges, ranging from inflation to unemployment, require open scrutiny and informed debate, both of which depend on a free press.
However, the issue of information integrity has become increasingly complex in the digital age. Artificial Intelligence (AI) and online platforms have amplified the spread of misinformation and disinformation. In Nigeria, where internet penetration has grown rapidly, false narratives can travel faster than verified facts. This makes the role of credible journalism more vital than ever.
The challenge is not only technological but also ethical. AI-driven manipulation of information threatens to distort public discourse, influence elections, and deepen social divisions. In such an environment, professional journalism must act as a stabilising force, ensuring that truth prevails over sensationalism and propaganda.
Equally troubling is the safety of journalists. Across Nigeria, reporters face growing levels of online harassment, judicial intimidation, and physical threats. Self-censorship is becoming more common, as media practitioners weigh the risks of reporting sensitive issues. This trend undermines the very essence of journalism.
A particularly alarming incident involved a serving minister in the present administration, who openly threatened to shoot a journalist during a televised exchange. Such conduct, broadcast to the public, sends a dangerous signal that hostility towards the press is acceptable. It erodes the norms of democratic engagement and places journalists in harm’s way.
This year’s theme aligns closely with the United Nations Sustainable Development Goal (SDG)16, which promotes peace, justice, and strong institutions. Freedom of expression is a cornerstone of this goal. Without it, institutions weaken, corruption thrives, and justice becomes elusive. Nigeria’s commitment to SDG 16 must therefore include genuine protection for the media.
Historically, the Nigerian press has been a formidable force. From resisting colonial rule to challenging military dictatorships, our journalists have played a central role in shaping the nation’s political landscape. Today, however, that legacy appears to be under strain, as the media operates under what can best be described as a veneer of freedom.
Beneath this facade lies a troubling reality. Journalists are routinely harassed, detained, and prosecuted for performing their constitutional duties. Reports from media watchdogs indicate that dozens of Nigerian journalists face legal threats or arrest each year, often for exposing corruption or criticising those in power.
The Cybercrimes (Prohibition, Prevention, etc.) Act of 2015 has become a focal point of concern. Originally intended to combat cyber threats, it has increasingly been used to silence dissent. Sections 24 and 27(1)(b), in particular, have been invoked to target journalists, bloggers, and social commentators.
Although amendments introduced in February 2024 were meant to safeguard journalists, concerns persist. The law continues to be wielded in ways that stifle investigative reporting and restrict freedom of expression. Legal reforms must go beyond cosmetic changes to address the root causes of misuse.
To safeguard the future of journalism in Nigeria, decisive action is required. The Cybercrimes Act must be revisited to ensure it cannot be weaponised against the press. Law enforcement agencies must operate free from political influence, upholding the rule of law and protecting journalists’ rights. Civil society and international partners must also strengthen independent media through funding, training, and platforms for wider reach.
In this rapidly evolving world shaped by artificial intelligence and digital innovation, Nigeria faces a clear choice. It can either allow press freedom to erode under pressure, or it can champion a truly independent media landscape. The path it chooses will determine not only the future of journalism, but also the strength of its democracy and the peace it seeks to build.
Editorial
FG’s LIN Policy: The Missing Link
-
Featured3 days agoWASSCE: RSG Distributes Science Materials To Secondary Schools
-
News3 days ago
Xenophobic Attacks: Nigerian Lives More Important Than Foreign Investment – Oshiomhole
-
Rivers3 days ago
MBA Forex Trial Adjourn To June 3, Amid Bereavement … As Court Declines Cost Application
-
News3 days ago
ActionAid Demands Probe Of Govs Using Public Funds For Campaign
-
Aviation3 days ago
Passengers Stranded As Delta Airline From Atlanta Route Back Eight Hours After
-
Business3 days ago
Customs Impound N2.35bn Cocaine, 15 Trailers of Rice
-
Politics3 days ago
2027: Bayelsa Senator Gets Critical Endorsement For Second Term
-
Politics3 days agoINEC Sets Rivers South-East Senatorial By-Election For June 20
