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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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Nigeria Loses N17tr Yearly To Abandoned Projects

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The Federal Government has disclosed that it has lost an estimated N17 trillion to abandoned and uncompleted projects across the country.

The Minister of State for Industry, Trade and Investment, John Enoh said this at the 8th annual induction and conference of the Chartered Institute of Project Managers of Nigeria (CIPMN).

He explained that abandoned projects continue to lock up public funds that could have been used for infrastructure development, industrial growth, job creation and essential social services.

Represented by the ministry’s Permanent Secretary, Chris Osa Isokpunwu, he said the impact goes beyond financial losses, as incomplete projects affect communities and limit access to important public services

He cited examples of  that remain unopened, schools that cannot accommodate students, roads that fail to connect communities and electricity projects that have not delivered their intended benefits.

The Registrar-General and Chief Executive Officer of CIPMN, Henry Ifeanyi Mbadiwe, also identified poor project management as a major challenge affecting development in Nigeria.

He revealed that the institute had developed a project management curriculum for Nigerian universities, which has received approval from the National Universities Commission (NUC). The programme is expected to enable universities to offer project management as a bachelor’s degree.

Mbadiwe further referenced findings by the Presidential Projects Assessment Committee, which identified 11,886 ongoing federal capital projects in 2011, with an estimated financial commitment of ?7.78 trillion.

He noted that inadequate planning, supervision, accountability and implementation were among the factors contributing to the abandonment of projects across the country.

The minister called for stronger project management structures across ministries, departments and agencies to improve planning, monitoring and evaluation.

He added that the Federal Ministry of Industry, Trade and Investment had introduced a 90-day implementation reporting cycle to strengthen transparency and monitor the progress of government programmes.

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Transcorp Power seeks sustained investment across Nigeria’s electricity value chain

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Transcorp Power Plc Managing Director and Chief Executive Officer Peter Ikenga has called for sustained investment across Nigeria’s electricity value chain to improve power supply and make the sector self-sustaining.

Ikenga said the company remained committed to Nigeria’s power sector and would continue investing in its operations despite the challenging business environment.

He spoke in Lagos at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact”.

The Transcorp Power chief said the company would sustain electricity generation, invest in its facilities and deliver value to shareholders.

“Transcorp Power is a long-term player, not a short-term player. This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress,” he said.

Ikenga said the company’s focus on operational efficiency and investment had strengthened its contribution to Nigeria’s electricity supply.

He disclosed that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power had quadrupled its available generation capacity.

He also said the company became the first privatised power generation firm to receive a post-privatisation discharge certificate after fulfilling all its privatisation obligations.

The company’s unaudited results for the nine months ended September 30, 2026, showed a profit before tax of N83.1 billion, while its profit-before-tax margin rose to 31.2 per cent from 29.6 per cent recorded in the corresponding period of 2025.

Its total assets rose to 11.7 per cent amounting to N629.5 billion, while shareholders’ funds grew 8.9 per cent to N199.8 billion. Cash and cash equivalents also rose to N10.3 billion, supported by improved collections.

On the company’s contribution to grid stability, Ikenga said Transcorp Power’s black-start capability enabled it to restart operations without relying on electricity from the national grid.

He explained that the capability allowed the company to support power restoration following grid disturbances, helping to restore electricity supply to homes, businesses and industries.

Ikenga noted that Nigeria had an installed electricity generation capacity of about 13,000 megawatts, with an estimated potential of 50 gigawatts, adding that realising the potential would require effective coordination across the entire value chain.

“Everything in the value chain has to work,” he said.

He called for stronger collaboration among federal and state governments, regulators and private-sector operators, alongside increased private investment, to build a sustainable electricity market.

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FG generates N33tn revenue in 10 months – Oyedele

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The Federal Government generated a record of N33tn in revenue between January and October 2026, with improvements in digital tax administration and electronic invoicing boosting collections.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed
this while delivering the convocation lecture at the University of Uyo, Akwa Ibom State, where he called for greater investment in Nigeria’s digital infrastructure to strengthen economic competitiveness and government revenue mobilisation.

This was contained in a statement issued on Thursday by his Senior Special Assistant on Communications and Press Secretary, Maryann Duke.

The statement said Oyedele pointed to “improved digital systems, including electronic invoicing, as a key driver behind a record of  N33tn in government revenue collected between January and October 2026.”

The minister said the performance demonstrated the potential of technology to improve revenue administration, strengthen compliance and increase efficiency across government institutions.

Speaking on the theme, ‘Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation,’ Oyedele warned that Nigeria risked losing substantial economic opportunities if it continued to depend heavily on foreign digital infrastructure.

Citing Nigerian Communications Commission figures, he disclosed that the country recorded more than 157 million active internet subscriptions as of May 2026.

He explained that these connections generated significant volumes of information through financial transactions, healthcare, education and taxation.

However, citing estimates from the Nigeria Data Protection Commission, Oyedele said as much as 90 per cent of the country’s data was hosted abroad.

According to him, the situation has implications for foreign exchange expenditure, employment opportunities, technological skills and Nigeria’s control over information generated by its citizens.

He compared the country’s reliance on foreign digital infrastructure with its historical dependence on imported refined petroleum products, warning against a situation where Nigerian data would be processed abroad and the resulting services sold back to domestic users.

The minister consequently advocated greater investment in local data infrastructure, technical expertise, cybersecurity and predictable regulations to enable Nigerian businesses to capture more value from the digital economy.

He clarified that digital sovereignty should not translate into technological isolation but should strengthen Nigeria’s capacity to participate competitively in international markets.

Addressing graduating students, Oyedele urged young Nigerians to become developers of technological solutions rather than remain primarily consumers of products created elsewhere.

He identified artificial intelligence as both a disruptive force and an opportunity for innovation, advising graduates to acquire relevant digital skills alongside critical thinking, creativity, sound judgement and integrity.

The minister also cautioned against irresponsible online behaviour, explaining that digital footprints increasingly influence employment prospects, commercial relationships and professional credibility.

Oyedele outlined five priorities for graduates, including continuous learning, value creation, integrity, responsible digital citizenship and active participation in national development.

“Your degree is evidence of what you have learned. Your competence will demonstrate what you can do. Your character will reveal who you truly are,” he told the graduating students.

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