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Oyo hosts National MSMEs Clinic Monday

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The Office of the Vice President in collaboration with the Oyo State Government will on Monday June 25, 2018 stage the state’s edition of the National Micro, Small and Medium Enterprises (MSMEs).

The two-day programme will hold on Monday and Tuesday June 25 and 26, 2018 at the International Conference Centre, University of Ibadan, Oyo State by 10am daily.

The State Commissioner for Trade and Investment, Princess Taibat Adeyemi- Agaba said that Monday June 26, will be for an interactive session between the federal government agencies and members of MSMEs, saying that there will also be an exhibition stand where locally made products and enterprise will be exhibited for inspection by the Governor of Oyo State, Senator Abiola Ajimobi.

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She said that the Vice President, Professor Yemi Osibajo will also inspect the MSMEs booth  on Tuesday, saying that Vice President will also intimate the stakeholders on the efforts of Federal and State Governments towards strengthening SMEs in the state and the country at large.

The Commissioner disclosed that Professor Osibajo will also address youths in the state during a town hall meeting at the Prof. Theophilus Ogunlesi Hall, Opposite UCH Main Gate by 3pm on Tuesday.

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Princess Adeyemi-Agaba noted that the MSMEs Clinic is geared towards driving the economy out of recession and placing it on a sound and sustainable path, saying that the plan is designed to assist the 36,994,587 micro enterprises recognized by the Nigerian Bureau of Statistics (NBS) and the Small Medium Enterprise Development Agency of Nigeria (SMEDAN) on ease of doing business.

She explained that the Project is in partnership with various Regulatory Federal Government Agencies whose operations are critical to the activities and survival of MSMEs doing business in the Country, stressing “It is a collaborative effort with respective State Governments where conducive atmospheres are being created for all critical stakeholders to interact with each other with a view to getting feedback for resolving problems militating against the growth and sustainability of MSME space in Nigeria.

 “This program is one of the social economic interventions of the Federal Government domiciled in the Office of the Vice President to assist businesses to thrive in Nigeria. Others being; N-Power, Conditional Cash Transfer, Home Grown School Feeding Programme and Government Enterprise Empowerment Programme (GEEP),” Princess Adeyemi-Agaba said.

The Commissioner said that the program is to create enabling environments for critical stakeholders to interact with each other to enable Federal Government Agencies proffer on the spot solutions where possible to problems affecting MSMEs.

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She said that the Oyo State Government has been strengthening MSME’s scheme in the State with the strategic partnership with Bank of Industry in instituting a 1 billion naira MSME Development funding Scheme for on-lending to manufacturing related MSME in the State at 5% annual interest rate.

Princess Adeyemi-Agaba stressed that 200 projects have been supported under the Scheme in the Sum of about N800 Million naira, noting that a total of 5000 direct jobs have been generated under the Scheme throughout Oyo State.

She stated that federal and state government officials, members of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Manufacturers Association on Nigeria (MAN), Chambers of Commerce, Organised Private Sector, Informal Sector, beneficiaries of FG Social Investment Programmes and other stakeholders are expected to be part of the programme.

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Rainstorm plunges forty Ogun communities into darkness

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Forty communities in Ogun State have been plunged into darkness following a rainstorm on Sunday.

The downpour, which began midday, destroyed electricity facilities in some parts of the state, leading to a blackout.

“Due to broken poles occasioned by the heavy downpour at Ota and Mowe, customers in the following communities: lyana lyesi, Osuke Town, Egan Road, lyana Ilogbo, Ijaba, Ijagba, Itele, Lafenwa, Singer, Joju, Alishiba, Oju Ore, Tollgate, Eledi, Akeja, Abebi, Osi Round About, Ota Town, Ota Industrial Estate, Igberen, lju, Atan, Onipanu, Obasanjo, Lusada, Arigba, Odugbe, Ado-Odo, Igbesa, Owode,” the Ibadan Electricity Distribution Company (IBEDC) said in a statement late Sunday.

“Olokuta, Hanushi, Bamtish Camp Lufiwape, Eltees Farm, August Engineering, Spark Cear Soap Ayetoro, Amazing Grace Oil, Christopher University, Royal Garden Estate, Pentagon Estate, and environs are experiencing power outages”.

It called on residents of the areas to avoid “contact with the broken poles, saggy wires or any other electrical installation affected by the rain.

“Our technical team is working to clear and replace the broken poles and installations to ensure power supply is restored as soon as possible,” IBEDC said.

A video circulating on social media showed fallen electricity poles on vehicles in a flooded Sango-Ota area of the state.

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Israel Vows To Increase ‘Military Pressure’ On Hamas In ‘Coming Days’

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(FILES) Israeli Prime Minister Benjamin Netanyahu (Photo by Abir SULTAN / POOL / AFP)

Prime Minister Benjamin Netanyahu on Sunday said Israel will increase “military pressure” on Palestinian militant group Hamas in a bid to secure the release of hostages held in Gaza.

“In the coming days we will increase the military and political pressure on Hamas because this is the only way to free our hostages,” Netanyahu said in a video statement on the eve of the Jewish holiday of Passover, threatening to “deliver additional and painful blows” without specifying.

Despite an international outcry, Netanyahu has repeatedly said that the army will launch a ground assault on Rafah, a southern Gaza city so far spared an Israeli invasion where more than 1.5 million Palestinians have taken refuge.

The army has said some of the hostages abducted from southern Israel during Hamas’s October 7 attack that sparked the war were being held in Rafah.

Military spokesman Rear Admiral Daniel Hagari said in a televised statement later on Sunday that “the chief of staff has approved the next steps for the war,” without offering details.

“On Passover, it will be 200 days of captivity for the hostages… We will fight until you return home to us.”

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FG to Launch CNG Initiative Ahead of Tinubu’s Anniversary

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The presidency announced on Sunday that the Federal Government is gearing up to launch its compressed natural gas (CNG) initiative in May, coinciding with President Bola Tinubu’s upcoming first anniversary in office.

Tinubu had declared the end of the fuel subsidy era during his inauguration, a move that led to a surge in fuel prices.

However, he assured the public of implementing measures to mitigate the impact, including the introduction of CNG-powered mass transit buses and tricycles.

According to presidential aide, Bayo Onanuga, the initiative is now ready to be set in motion after nearly a year in the making.

Onanuga stated in a late Sunday statement, “In all, over 600 buses are targeted for production in the first phase that will be accomplished this year.”

He further elaborated on the plans, mentioning, “A new plant on the Lagos-Ibadan Expressway will assemble thousands of tricycles.”

Onanuga revealed that parts manufactured by Chinese company LUOJIA, in partnership with local entities, are en route to Nigeria and expected to arrive early in May.

He added, “About 2,500 of the tricycles will be ready before May 29, 2024.”

The Federal Government aims to procure “5,500 CNG vehicles (buses and tricycles), 100 Electric buses, and over 20,000 CNG conversion kits,” Onanuga explained.

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He also highlighted efforts to facilitate the development of CNG refilling stations and electric charging stations.

President Tinubu’s approval of tax and duty waivers in December 2023 has paved the way for collaboration with the private sector to advance the initiative.

Onanuga noted, “The private sector has responded with over $50 million in actual investments in refueling stations, conversion centers, and mother stations.”

Additionally, plans are underway to assist petrol-powered buses and taxis in transitioning to CNG. Onanuga assured, “Thousands of conversion kits for petrol-powered buses and taxis that want to migrate to CNG are also ready with CNG cylinders.”

In response to negotiations with labour unions over the subsidy removal effects, Tinubu has urged patience from Nigerians, expressing confidence in the long-term benefits of his reforms.

As part of the government’s efforts, a package includes a temporary pay increase for federal employees, suspension of VAT on diesel, and social security cash transfers to the poorest citizens.

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