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Expert Wants FG’s Support On SMEs’ Growth

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8 years ago

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An economic expert, Mr Franklyn Akinyosoye, last Wednesday said that additional and continued interventions of the Federal Government would engender growth of Small and Medium Enterprises (SMEs) in the country.
Akinyosoye, the President, Association of Business Development Professionals in Nigeria (ABDPIN), said this in an interview with newsmen in Abuja.
According to him, SMEs have a big role to play in the growth and development of the country but the only way they can achieve this is by government support.
“SMEs in Nigeria have a very big role to play, but I think the major role lies with the government.
“Government has to create more palliatives for them because we are already seeing the results of this encouragement from the government that is why the GDP is rising.
“It is the encouragement that the SMEs get from the government that will make them contribute their own quota in order for the country’s GDP to go up.
“If you look at the figures from the recent GDP report, you will find out that there have been serious improvement from the non-oil sector and it is as a result of government encouragement.
Akinyosoye stated that other than palliatives, the government should also come up with more policy statements that would contribute and make the SME sector in the country to thrive.
He commended government’s effort so far in bringing up some policy statements in that regard, adding that a lot could still be done.
He gave instance of the 41 items that were banned from being imported into the country, saying that the ban of some of those items had yielded positive results in the country.
“If you take toothpick for instance, we were formally importing toothpick, but the refusal to give dollars to the toothpick importing business men has made the toothpick industry in Nigeria to grow.
“Also is the case of pencil, we do not have a factory of pencil in Nigeria, but for the first time in the history of this country we are going to have it due to government intervention.
“So, government has a major role to play in the growth of SMEs in this country,” Akinyosoye said.
He further urged that government agencies be given the necessary encouragement to effectively carry out their mandate so they could support the growth of SMEs in the country.
He said, “the SMEs can’t be so effective if Custom is not effective; Custom is one major agency in Nigeria that if anything goes wrong, there will be export issues in the country.
“And once there is no export, local produce will not be able to sell their goods and thus, dollar will not come in.
“The FIRS is another agency, if they effectively carry out their duty, they will rake in more money for the government and if the government has sufficient funds they will provide interventions to SMEs.
The expert commended the government in its effort to positively grow its GDP, while urging that more effort should be made to get the country fully out of recession.
He also urged the government to focus on capital rather than recurrent projects because it was the capital project that finances the economy.
Akinyosoye reiterated that the association would on Oct. 3 to Oct. 4 hold a conference on SMEs Development Consultants and Business Service Providers in Abuja.
He said the conference would bring together over 150 of its members spread across 15 states as well as stakeholders to deliberate on ways of improving small businesses in the country.

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Transport

Automated Points Concession : FAAN Workers Gave 72hrs To Revise Decisions In PH

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6 days ago

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March 2, 2026

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The trapatriate Unions conprising the National Union of Air Transport Employees (NUATE), and the Air Transport Service Senior Staff Association of Nigeria, (ATSSSAN),  has given 72 hours Ultimatum to Federal Airport Authority of Nigeria FAAN, Omagwa Airport, Portharcourt to revise its recent decision on the concession of Tollgates and Parks to private hands.
The chairman of the Trapatriate Union, Comrade Felix Ohwoefe gave the Ultimatum yesterday immediately after the joint Unions meeting held at the Airport office of the union, Omagwa, Portharcourt.
Comrade Ohwoefe who double as the chairman of the National Union of NUATE said the two Unions have agreed to take drastic actions if the Authority of the Airport declined to step down it’s decision of concessioning the major revenue points to private hands.
According to the Union chairman, the  two union was not aware of the  concession plans, and that there were no due process to the procedures.
Comrade Ohwoefe said any attempt for the Airport Management to decline it’s demands towards the concession will result to barricading all entrance and access points of the Airport.
Expressing the  the challenges associated to the concession, the Union Chairman said the gesture might resulted to massive sack of workers in the Airport.
The chairman also expressed foul play on the part of either individuals or government in the terms and conditions so given to the concessionaires, demanding the reasons of contracting the automated points to private hands for only 14 millions, when the FAAN is presently generating over 28 million naira monthly, even when the tariff was not  reviewed upwards.
He describes the process to the procedures as fraud with intention to increase unemployment in the state.
“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.
“Secondly, if the concessionaires is taken over, they must pay higher than what the FAAN is generating presently, we are generating to the Management over 28 Millions monthly, but we had that the private company is required to pay only 14 Millions monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.
“The process is fraud either on the part of individual in the Government, or Government itself.
” The unions is saying no to the Concession until we come to a terms of understanding ourselves., we are afraid of loosing workers, we don’t want to loose any workers if due process is not followed in this hard of economy,  we even demanding for employment of more workers in FAAN.” Comrade Ohwoefe said.
The Union used the opportunity to called on the minister of aviation, and the President of the Country, Bola Tinubu to intervene.
When contacting the Management of the Airport Authority through the head of Corporate Affairs, Dr Ngozi V. Onyeanwuna-Nwosu,  she said the management has not given her the approval to say something.
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Transport

FAAN Announces Pick-Up Points for Go-Cashless Cards

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6 days ago

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March 2, 2026

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The Federal Airports Authority of Nigeria (FAAN) has announced designated pick-up points for individuals wishing to obtain their Go-Cashless cards ahead of the March 1, 2026 deadline.
This was announced in a statement signed by the Director Public Affairs and Consumer protection, Henry Agbebire  and made available to the Tide last Friday in Portharcourt.
According to the statement,  Go-Cashless cards is at all  FAAN commercial offices and access gates of Airports in the country .
The release further stated that cards will also be available at designated branches of Fidelity Bank Plc from March 16, 2026.
FAAN in the statement said the cashless policy followed the Federal Government directive mandating all Ministries, Departments and Agencies (MDAs) to transition to a cashless system to enhance transparency and reduce revenue leakages as well improve transaction traceability in the Aviation sector.
FAAN  reiterated its commitment to full compliance with the directive, appealing to the public for their understanding and cooperation during the transition period.
FAAN also inform that the Go-Cashless cards can still be obtained at the designated points after the March 1, deadline.
The Authority assures airport users that the initiative will promote faster, safer, and more convenient transactions across its airports nationwide.
By: Enoch Epelle
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Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

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1 week ago

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February 27, 2026

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Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).
According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.
 Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.
During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.
He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.
Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.
Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.
These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.
Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.
 This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.
It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.
It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
By: Nkpemenyie mcdominic, Lagos
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