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
When Custody Becomes a Death Sentence
City Crime
Renaissance Energy Pledges Stronger Partnership With RIVCHPP
The company’s General Manager, Health, Dr. Akinwumi Fajola, said the proposed partnership would involve the constitution of a joint team comprising representatives of Renaissance and RIVCHPP to deliberate on and develop modalities for deeper collaboration.
Fajola, who spoke during the visit, said the engagement would help strengthen the agency’s operations and advance the attainment of Universal Health Coverage in Rivers State.
He noted that the seeming bottlenecks often associated with government agencies had made some organisations and individuals sceptical about engaging with them.
According to him, the leadership style of the RIVCHPP Executive Secretary had demonstrated positive changes capable of attracting public and private-sector partners.
He stated that Renaissance Energy Limited would further strengthen its engagement with RIVCHPP, particularly in promoting health insurance within its operational areas.
Earlier, Agala described RIVCHPP as a legacy project of the State Governor, Siminalayi Fubara, established to ensure that Rivers residents have access to quality and affordable healthcare in line with the administration’s #Health4AllRivers vision.
She said since the agency became operational in January 2024, it had sustained awareness campaigns across the formal and informal sectors, resulting in steady growth in enrolment.
Agala disclosed that RIVCHPP had enrolled more than 160,000 residents across the state’s 23 Local Government Areas, giving them access to healthcare services.
She also said although Rivers was among the last states in the country to operationalise a health insurance agency, it had risen to 13th position in Universal Health Coverage and was recognised as the most improved state at the Federal Ministry of Health’s 2025 joint annual review meeting.
The Executive Secretary said the agency was implementing comprehensive healthcare plans covering all population groups, including vulnerable residents, to protect households from health poverty and catastrophic health expenditure.
She commended Renaissance Energy Limited for promoting health insurance in its operational areas and congratulated Fajola on his recent promotion.
The visit featured the exchange of promotional materials and souvenirs between the two organisations.
City Crime
Transport Fares To Reduce Nationwide From Oct. 1 – Pi-CNG & EV
-
Sports4 days agoNigerian Trio Target Titles At PFL Africa Finals
-
Education4 days agoFCE Yola Graduates 3,555 Teachers , Seeks Upgrade to University
-
Niger Delta4 days agoDiri Restates Stance On Lagos-Calabar Coastal Highway
-
Niger Delta4 days agoC’River, NUJ Pay Tribute To Late Guardian Editor
-
News4 days agoNDLEA Recovers Tons Of Illicit Drug Consignments In Nine States
-
Opinion4 days agoChecking Voter Apathy In Nigeria’s Electoral Process
-
Politics4 days ago2027: DICKSON’S EX-ALLY VOWS TO WORK AGAINST NDC INTEREST IN BAYELSA
-
Politics4 days ago2027: GROUP PLEDGES 40,000 SUPPORTERS FOR COALITION CANDIDATES IN RIVERS
