Business
RSG To Partner IEBS Matrixx On Cooperatives
Rivers State Government has promised to partner with an International Entrepreneurs Business Summit (IEBS) to ensure that it benefits from governments laudable corporative programmes.
Speaking during the official launching of the programme, the Rivers State Commissioner for Commerce and industry, Dr Nancy Chidi-Nwankwo stated that the Rivers State Government was interested in the cooperative, as it was a very important sector in the economy of the state.
The Commissioner who was represented by the Director, Cooperative, Mr George Nwanchukwu remarked that the ministry was happy with the vision and mission of IEBS since its inception in 2015, adding that they are one of the best corporative in the state.
Nwanchukwu stated further that a good cooperative such as IEBS Matrixx, would create job opportunities for the teeming youths in the state and would help them to live independently and become employers of labour.
“As long as the IEBS Matrix corporative and Dr Larry Ajiola was concerned, I am also concerned too, because Dr Larry registered his corporative with the vision of creating wealth and empowering the people through his corporal corporative and as a government this is a very important sector of the economy which is the reason why government was interested in his vision.”
He promised that the cooperative would always benefit from whatever comes out of the ministry’s office, adding that in whatever form that the government would come in to assist them, it would do when the need arises.
Speaking also, the Chairman IEBS Matrixx Corporative Investment and Credit Society Limited, Dr Larry-Goodwill Ajiola stated that this was the first time in the history of Rivers state that corporate IEBS corporative was coming in Rivers State, adding that out of the 53,000 corporative registered in Rivers state and IEBS having this registration number 31,894, many corporative that exist in the state have not done well as they failed to understand what corporative was all about.
“We are setting up corporate corporative that is going to get businesses from multinationals, and government would seek IEBS Matrixx corporative for advice on how to run a successful corporative in Rivers State, Ajiola stated.
Highlights of the event was the issuing of certificates of membership to over 40 IEBS Matrix Corporative members as well as giving of certificates of office to some members which stands as a symbol to remind them that they have an obligation to serve the general public.
He added that what was being witnessed today was as a result of hard work of more than 10yers’ dream and expressed gladness that everyone was alive to witness the event happening today.
“We want to be the benchmark in Rivers, Nigeria and the world at large and so it was important for you to know that the day you join our corporative is the day you start benefitting.”
Earlier in his opening remark, the chairman of the occasion, Prof Lawyer Obara, reiterated the need for corporative members to know how to manage risk, stating that risk was part of business ventures.
Obara called for determination and passionate commitment on the part of the corporative, stating that there was a great need to create risk premium factor which help businesses to succeed.
He commended the efforts of Dr Larry-Goodwill Ajiola and his partners for the efforts of drawing the attention of Federal Government to the Rivers State, adding that the benefits cannot be over emphasized.
Lilian Peters & Susan Serekara-Nwikhana
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos