Business
Politicians, Obstacle To National Dev -Prof Anya
Nigerian politics has been described as the most important obstacle to national development.
This assertion was made yesterday by Prof Anya O Anya while delivering the 29th Convocation lecture of the University of Port Harcourt.
He lamented that the collection of half educated political jobbers with no commitment to any vision or values have driven the country into the paradox of being ruled by cabals and other private interest in an otherwise democratic dispensation.
Prof Anya who is recorded as the first Nigerian experimental and basic scientist to win the Nigerian National Merit Award (NNMA) noted that while the political leaders might inveigh against corruption, the current system was being driven by greed, deceit and dishonest maneuvers by scammers of all varieties as 419ers, credit card scammers and even ex-convicts which he said the presidential powers had inflicted on the polity despite indicted malfeasance.
“A former DIG of Police who transformed into Senator, once cried out in obvious embarrassment on the floor of the Senate that many of his distinguished colleagues in the hallowed chambers of the Senate of the Federal Republic were those whom he had the unfortunate duty to investigate for indictable criminal offences”, he said.
Prof Anya remarked that the assumption that was popular in the 1970s that resource rich countries enjoyed a comparative advantage in their efforts for long term economic development has been upstaged by an emergence of a new idea that countries can enjoy some comparative advantage in their effort for economic development on the basis of their human capital development of expertise, skills and education in general.
In his topic, titled: the Idea and Uses of the University in the 21st Century, the academician stated that by the law, the National Universities Commission had the responsibility to regulate and oversee the development of universities in the country but regretted that the rapid explosion in the number of universities in the last 20 years have created strains and stresses in the NUC’s ability and capacity to satisfactorily discharge its responsibilities.
Prof Anya, a one time chairman of NUC committee on the objectives, academic and administrative structure of the universities of Technology maintained that under provision of financial resources to the underdevelopment of needed infrastructure as well as lack of trained manpower particularly of academic teachers, the story is one of criminal neglect and called for adequate funding of universities across the country.
Physical facilities for teaching and learning in public universities, he said were inadequate, dilapidated, overstretched and improvised, adding that there was much pressure on existing facilities due to unplanned expansion of programmes.
Chris Oluoh
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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