City Crime
Edo, BoI Unveil Fund For 50,000 Entrepreneurs
The Edo State Government and the Bank of Industry (BoI), have unveiled a Micro, Small and Medium Enterprise (MSME) development fund worth N2 billion to support entrepreneurs in the state.
The fund was launched during a citizens’ engagement session organised by the Edo State Skills Development Agency, also known as Edo Jobs, held at the Government House in Benin City.
Speaking at the event, Governor Godwin Obaseki said, “The Bank of Industry (BoI), which is a reliable partner, is here today to launch the MSME fund. The initial amount is N2 billion. Edo State Government provided N1 billion, while BoI provided the other N1 billion, making it N2 billion, with an attractive interest rate.”
”In addition, we have a N165 million fund, as part of the first tranche from the Edo State Government. It will be made available to small businesses, which are currently domiciled in our production hub, to support and encourage them to grow their businesses.
“BoI has the capacity and resources to support this kind of programme. From this N2 billion fund, we estimate that we can impact as many as 50,000 businesses in Edo State. We have other facilities with other institutions like the Central Bank of Nigeria (CBN). This is a start-up fund, as we expect it to continue to grow: If you start with N50,000, now and when you do well tomorrow in your business, you will need N200,000.
Borrowing is part of business, provided you continue to grow,” the governor stated.
The Governor assured that despite the Covid-19 pandemic, his administration remained committed to improving the livelihoods of the people and creating opportunities for the youths to thrive.
He stated: “We have continued to create opportunities for Edo youths as our administration is open, transparent and competent in all we do. We urge Edo people to trust us, as all the opportunities that we present are real, and life-transforming for Edo people.”
On his part, Managing Director/Chief Executive Officer, BoI, Mr. Olukayode Pitan, said that “in a quest to grow and develop MSME businesses in the country, the bank has resolved to continue to collaborate with existing enterprises, as well as reputable local and international partners.
“This MSME fund is aimed at providing business loans to enterprises located within the state, while the second fund is the N165 million Edo Production Hub Fund, financed by the Edo State Government. The Edo Production Hub Fund is managed by the BOI and is to support businesses located within the state-owned production hub.”
Later, the governor and his team, as well as his guests were also taken on a guided tour of the Edo Production Hub. They also commissioned the new Bank of Industry building in Benin City.
City Crime
Dakar 2026: Nigeria Records Best-Ever Appearance At Youth Olympic Games
Team Nigeria recorded its best-ever appearance at the Youth Olympic Games, winning three gold medals at Dakar 2026 in Senegal to surpass the country’s previous best performance at the competition since its debut.
It was a remarkable campaign defined by historic victories, record-breaking performances and the emergence of a new generation of Nigerian sporting talents, with three athletes etching their names into the country’s sporting history.
According to a press statement from the Special Assistant, SA to the Director -General of the National Sports Commission, Kola Daniel, Nigeria’s gold-medal haul came through Bright Gift, Rosemary Nwankwo and Praise Ugoh, whose outstanding performances in athletics delivered an unprecedented sprint double and a landmark victory in the women’s 400m.
Bright Gift made history by becoming the first Nigerian to win the men’s 100m title at the Youth Olympic Games, clocking an impressive 10.28 seconds to claim gold and set a new Games record.
Rosemary Nwankwo’s victory in the women’s 100m, completing Nigeria’s historic sprint double. Her 11.16-second performance made Nigeria the first country to win both the men’s and women’s 100m titles at the same edition of the Youth Olympic Games.
Praise Ugoh completed Nigeria’s golden campaign by winning the women’s 400m in a personal best of 52.76 seconds, becoming the first Nigerian to claim the event’s title at the Youth Olympic Games.
The three victories represent a new high for Nigeria at the competition, surpassing the two gold medals won at the inaugural edition in Singapore in 2010.
The National Sports Commission (NSC) has attributed the progress of Nigerian youth sports to sustained efforts in grassroots development, talent identification and the creation of competitive platforms through which young athletes can be discovered, nurtured and prepared for international competition.
The two technocrats, Mallam Shehu Dikko, and Hon. Bukola Olopade’s commitment to grassroots sports development has continued to drive initiatives aimed at building a strong pipeline of future champions.
A major component of this strategy is the Commission’s Invited Junior Athletes Initiative, alongside the National Sports Festival and the hosting of the CAA Africa U18/U20 Athletics Championships in Abeokuta. These platforms have provided opportunities for emerging talents to compete, gain exposure and progress towards representing Nigeria on the international stage.
The Director of Grassroots Sports Development at the Commission, Prince Niyi Beyeku, and other key players including Lekan Alabi epitomize the dedicated team behind implementing programmes and initiatives that strengthen talent discovery and development across the country.
The Nigeria Olympic Committee, under the leadership of its President, Engr. Habu Gumel, remained consistent in its support and leadership in coordinating Nigeria’s participation at the Games.
The Commission applauds all athletes’ coaches, technical officials, medical personnel and backroom staff whose hard work, preparation and dedication contributed to the team’s historic outing.
Beyond the medals, Nigeria’s performance in Dakar represents a significant statement about the country’s sporting future. The emergence of these young champions reinforces the importance of sustained grassroots investment and provides renewed optimism about Nigeria’s capacity to produce world-class athletes.
City Crime
Tinubu Rewards Flamingos players With 100m Bonds
President Bola Tinubu on Wednesday announced the award of a ?100 million Federal Government Savings Bond to each player on Nigeria’s victorious U-17 women’s football team, the Flamingos.
The bonds attract an annual interest rate of 14 per cent. The investment by the government for the players is for five years.
President Tinubu also announced a cash gift of ?100 million for the coach and ?50 million for each member of the technical crew.
The President announced the rewards during a reception at the Presidential Villa in Abuja for the Flamingos, who reportedly won the U-17 Women’s World Cup in Morocco.
The Flamingos defeated Japan to become the first African team to win the tournament.
President Tinubu was represented at the reception by the First Lady, Senator Oluremi Tinubu.
City Crime
When Custody Becomes a Death Sentence
-
Politics4 days agoLG CITY BOY COORDINATOR HAILS WIKE’S SUPPORT FOR ONYESOH, TINUBU
-
Politics4 days ago
DIRI INAUGURATES APC CAMPAIGN COUNCIL, SETS MILLION VOTES TARGET FOR TINUBU
-
Politics4 days agoNDC Candidate Urges Oborevwori To Probe Asaba Political Violence
-
News4 days agoArmy Recovers X Account After Hack Attempt
-
Politics4 days ago
2027: Oborevwori Tasks Media On Fair, Accurate Reporting
-
Politics4 days ago
2027: AKPABIO ENVISAGES TINUBU’S VICTORY IN SOUTH SOUTH REGION
-
Business4 days agoNigeria Loses N17tr Yearly To Abandoned Projects
-
Politics4 days ago
Asaba Political Violence: Police Confirm One Dead, Delta Govt Urges Probe
