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Edo, BoI Unveil Fund For 50,000 Entrepreneurs

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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.

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City Crime

Anglican Bishop Hails Wike’s Support For Church

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The retiring Anglican Bishop of Niger Delta Diocese, Ralph Cornelius Ebirien, has commended the Rivers State Governor, Chief Nyesom Wike, for his invaluable contributions to the church, saying that the governor has shown much love and support to the church.
Ebirien stated this during his pre-retirement press briefing at the diocesan church headquarters in Port Harcourt, yesterday, as part of activities marking his retirement and pulling out from Anglican priestly ministry as well as to mark his 70th birthday celebration, tomorrow.
The bishop, who is the sixth diocesan bishop of Niger Delta, said that the governor, through his generosity and support to the diocese, renovated the Nyemoni Grammar School, Abonnema, making the school one of the best schools in the state.
“God used Governor Nyesom Wike to renovate the Nyemoni Grammar School, today is among the best.We thank him for his love, also his Deputy, Dr Ipalibo Harry Banigo, who is a member of diocese. They have shown us love and support”.
Recounting his 12 years’ achievement as the bishop of the diocese, Ebirien disclosed that prominent of his flagship programmes include yearly Sunday school conference, continuous training and re-training of pastors and the clergy, planting of new churches as well as giving scholarship to indigent members of the church, among others.
“We are committed to spiritual development through the revival of the Sunday school conference. The number of people we confirmed was over 5,000;we admitted many into mother’s guild, teach people Bible and prayer ministry.”
The out-going bishop, while commending members and the clergy for the support given to his family in the past 12 years, advised them to let brotherly love that has bound the church together continue, adding that what took the church to its present height was love.
“Bring the little you have for the work of God. Recognise Him as your helper, be appreciative and grateful”, he said.
Ralph urged members of the church not to be aloof in political participation but be active players in the polity.
“Get your PVC so as to vote credible men that will be God-fearing and help the church, irrespective of your party affiliation during the next elections”.
The bishop in company of members of the clergy and the leadership of the church, paid his last episcopal visit to the Port Harcourt Children Home, and Our Saviours’ Hospital owned by the church,where he donated food items, and also prayed for the inmates.

By: Akujobi Amadi

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Business

Lagos To Partner Firm On Digital Economy

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The Lagos State Governor, BabajideSanwo-Olu, has said that the State will  partner with TERAWORK, a tech platform for hiring freelancers, to explore the gig and digital economy.
According to Sanwo-Olu,  this partnership will help upskill youths and train them to seize employment opportunities in tech industries globally.
He disclosed this while paying a visit to the business stand of the company during the Lagos Employment Summit organised by the Lagos State Employment Trust Fund, recently.
“The Lagos State Government is scaling its intervention in critical areas of the economy. As part of that effort, we are rejigging the activities of the LSETF to broaden its impact in terms of strengthening the productivity of businesses and entrepreneurs”, he said.
He noted that the platform will offer an impressive proposition and solutions that meet the expansive needs of the active segment.
The also said that it will help businesses  to raise productivity level by leveraging the skills of a wide range of freelancers while also creating new job opportunities for the teeming youth segment.
The Chief Executive Officer, TERAWORK, Femi Taiwo, who spoke during a break out of the summit themed, ‘The Future of Work: Gig Economy’, said the gig economy is the locus of shared prosperity in the 21st century.
Taiwo, also pointed out that  it can be expanded to drive economic growth if appropriate national policies are formulated and implemented.

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City Crime

PH City Marathon: Over 3000 Athletes To Run, Saturday

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Over, 3000 athletes are expected to take part in the 16 kilo meter Port Harcourt City Marathon Race this Saturday.
Take off point is scheduled be Forces Avenue, by Christ Church,  back of SPAR shopping Mall, in Port Harcourt, by 7:00am.
Speaking in an exclusive interview with  Tidesports, on Saturday, shortly after athletes collected their  numbers of participation , at Las Mall  Hotels and Resorts,  Rumukalagbor, the Chief organiser of the event, Goodluck Azunwena, said all arrangements had been concluded for the event on Saturday.
According to him, over 200 volunteers, have indicated interest to ensure that the race was successful, adding that various medical outfits, doctors, road safety officers are fully prepared, as health talks was also delivered to athletes.
“ The crowd was really overwhelming today. Honestly we are really impressed with the turnout, that means many athletes were waiting for such event.
As I speak, so many volunteers have indicated interest to work with us, private hospitals have also pledged to give out their ambulances and doctors to be on ground that day. We have also contacted the road safety, police and other security agents to ensure a hitch-free race” Azunwena said.
He advised athletes not to take the competition like a do or die affairs saying that they should exhibit what sports stand for, that is  unity, friendship and love.
Speaking,  one of the intending competitors, Jude Nwanaopara, a footballer, said he is optimistic to win the race, in spite of the fact that this would be his first time to compete in a  long distance race.
According to him, if he comes up top he will use the money to solve his personal problems.
“ I am optimistic that I will win the race being a sportsman, but I must say that this is my first time to enter such competition.
“I have self prophecy that I am going to win” Nwanaopara said.
Another competitor,   student, Victor Okoro, said he was inspired to go for the race following his walking skill.
He explained that he had been looking for  such opportunity to run marathon race to showcase his talent, saying that he is happy that what he was looking for will happen in Port Harcourt.
“ I have the belief that I will win because I have been walking from school to my house for three hours , which is more than that 16 kilometer,” Okoro said.

By: Tonye Orabere

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