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Experts Want More Credit Facility For MSMEs

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Financial experts and entrepreneurs at the just concluded  23rd Nigeria Economic Summit (NES#23) have called on the Federal Government to provide more credit facility for Medium, Small and Micro Enterprises (MSMEs) oprators.
The experts spoke in Abuja during the Plenary session on ‘Access to Capital’ at the summit with the theme; “Opportunities, Productivity and Employment; Actualising the Economic Recovery and Growth Plan.’’
They also spoke on the need for the government to deepen the capital markets in order to ease access to long term funding for on-lending to MSMEs and Small Medium Enterprises (SMEs) operators in various sectors of the economy.
In addition, they urged commercial banks to relax their conditions for granting SMEs loans to enhance productivity and development.
One of the Panellists, Mr Tony Opanachi, CEO/Managing Director of Development Bank of Nigeria (DBN), said the Bank was working toward addressing some of the challenges of SMEs, especially funding and risk related issues impeding the growth.
He said that the bank would provide long term credit for SMEs through financial banks/intermediaries, build capacity of entrepreneurs as well as share partial credit guarantee.
The expert said that the effort would ensure sustainable flow of credit to the SMEs segment of the market.
“If you want to run a sustainable business, you can’t run away from the micro environment that you have and DBN is set to run a sustainable business.
“We are trying to avoid mistakes of the past, where you come out with intervention funds they dry up, but there’s no sustainability. One of the key things DBN is doing differently is to run a sustainable business over time.
“If you look at that segment, the micro for example, how are they being served in terms of debt equity? Most of the micro finance institutions basically focus on micro and learn the act of lending to micro businesses.
“So the bank for example is coming to provide that capacity for them to ensure that they are able to lend to more,” he said.
Also speaking, Ade Ayeyemi, the Group Chief Executive Officer of Eco Bank emphasised the need to deepen the capital market.
Ayeyemi stressed the need for SMEs to have ideas of how to run a business with profit equation while government should bring down the 17 per cent inflation rate to the barest minimum to enable the commercial banks to intervene.
According to him, this is what is obtainable in neighbouring countries with lower inflation rates.
He said the government should also create local condition for wealth creation and provide enabling environment for businesses to thrive.
The chief executive officer noted that this would make Nigeria an attractive destination for the foreign money to come in and enable the country to compete with the rest of the world.
”So if we do formalisation of businesses, allocation of pension funds, getting the ministries to do the capacity support for SMEs then we are beginning to make way forward,’’
In his remarks, Kamoru Bakrin, the Chief Executive Officer of Helios Investment Partners said the firm raised 1.5 billion dollars in 2016.
Bakrin, however, noted the dearth of investable opportunities in Nigeria and Africa.
He advised stakeholders to invest time and resources in developing capability in the sector.
Also speaking, Nasir Yammama, the Founder Verdant Agritech Ltd, spoke on the need for data generation in order to boost access to capital, adding that a lot of farmers had joined the value chain.
He observed that most entrepreneurs get access to funding outside Nigeria while others generate funds personally.
“De-risking MSMES is key and the Nigeria Incentive Risk Sharing Agricultural Lending (NIRSAL) ýis already taking the lead in addressing the risk concerns of farmers who make up the bulk of the 37 million MSMES sub-sector.
“For me, capacity development is key for entrepreneurs to be able to make head way.ý Entrepreneurs must invest in developing capacity which would enable them attract private capital and affordable funding.’’
Yammama, a representative of Entrepreneurs also observed the difficulties being experienced by business owners in accessing capital.
He said that the country must develop conventional financing system to help the SMEs in getting capital.
The expert also advised young entrepreneurs to have a clear cut idea in their plans that would attract investors.
”In my experience plan, the first business I have ever written I got a lot of help. No one can do it alone. You have to reach out to the right people.
”I went to the British Library and found a whole business clinic, so there is need for capacity development.
”If the banks are tired of seeing entrepreneurs with weak business plans, then they should invest in building their capacity,’’ he said.

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Kenyan Runners Dominate Berlin Marathons

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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