Female Entrepreneurs Urged to Embrace E-commerce for Business Expansion

The South West Regional Head of Bank of Industry (BoI) Nigeria, Ahmed Kagara, has advised Nigerian women entrepreneurs to embrace e-commerce to grow their businesses.

Kagara, gave the advice in an interview with reporters in Ibadan, on the sideline of the three-day 1st South West Regional E-Commerce Summit and Expo.

He said that women entrepreneurs in the country should make use of e-commerce facilities to be in line with best global practices in business.

BoI Strengthens Relationship with Business Developers to Boost MSMEs

The Bank of Industry (BoI) says it has set up mechanism to improve relationship with its over 200 Business Development Support Providers (BDSP) across the country.

BoI said the aim was to deepen financing of the Micro, Small and Medium Enterprises.

Mr Kayode Pitan, the Managing Director of BoI announced this on Monday in Lagos, during an interactive session with stakeholders on the operation of the bank’s BDSP Scheme.

MSME Fund: State Disburses ₦1b to Beneficiaries

The Niger State Government on Monday commenced the disbursement of the N1 billion Central Bank of Nigeria (CBN) Micro Small and Medium Enterprises Development Fund (MSMEDF) to  11, 578 beneficiaries.

The News Agency of Nigeria reports that the fund was the first tranche of disbursement to Micro, Small and Medium Enterprises (MSMEs) aimed at creating financial inclusion, wealth and empowerment of youths.

Locally made Goods key to Economic Stability –Group

The National Coordinator, Initiative for Leadership Development and Change (ILDC), Ugochukwu Nnam, on Saturday said promotion of local content would guarantee self sufficiency and economic stability in Nigeria.

Nnam told the News Agency of Nigeria in Abuja that the production and utilisation of Nigerian made goods and services was capable of eliminating over dependence on importation.

The coordinator called on Nigerians, especially leadership at all levels, to support President Muhammadu Buhari’s policy on local content.

Nigeria to Sign Continental Africa Free Trade

President Muhammadu Buhari says Nigeria would sign an agreement on the Continental Africa free trade Area next month in Rwanda.

The purpose is to prioritise trade as a significant instrument for reform in the Country.

He stated this at the opening ceremony of the 39th Kaduna International trade fair, holding in Kaduna.

He further disclosed that, the purpose of the agreement will be to promote regional trade.

NEXIM Invites SMEs to Access ₦550b Funds

The Nigerian Export-Import Bank (NEXIM) has invited export-oriented Small and Medium Entrepreneurs (SMEs) in the South-East and Delta States to access the N500 billion Export Stimulation Facility (ESF) and the N50 billion Export Development Fund to boost their businesses, create jobs, and contribute to the foreign exchange revenue earnings of the country.

The facilities were made available to NEXIM Bank last December by the Central Bank of Nigeria (CBN) for lending at a maximum of 9 percent interest rate.

Buhari Signs Order to Boost Local Production, Employment

Nigeria’s President Muhammadu Buhari signed an executive order on Monday aimed at boosting the domestic production of goods and creating jobs in science, technology and engineering in the west African country.

Buhari, a 75-year-old former military ruler, has frequently spoken about ending the OPEC member’s dependence on oil exports while also creating jobs by boosting local food production, Reuters reports.

Job Creation: FG Should Reduce Taxes for Investors

An entrepreneur, Ndubuisi Emenike, has urged the Federal Government to reduce taxes for investors in order to create more job opportunities, as well as tackle the problems besetting the power sector decisively.

Emenike, who is the President of Ndubuisi Emenike Foundation, made the call in an interview with the News Agency of Nigeria in Abuja on Wednesday.

He said that stable electricity supply would encourage more investors to set up businesses in Nigeria.

FG sets aside ₦5b for Local Miners –Fayemi

The Federal Government has set aside N5 billion to empower artisan miners across the country as part of measures to ensure participation of all Nigerians in economic development.

The Minister of Mines and Mineral Resources, Dr. Kayode Fayemi, disclosed this on Saturday when he inspected the gold mining site at Garin Awal at Fakai Local Government Area in Kebbi State.

Institute Makes Case for Made-in-Nigeria Goods

The National President, Polymer Institute of Nigeria (PIN), Prof. Paul Mamza, has advised the Federal Government to provide financial support and equipment to manufacturers of made-in-Nigeria goods to boost Growth Domestic Production (GDP).

Mamza made the appeal in an interview with the News Agency of Nigeria in Abuja on Monday.

Mamza said such backing would also strengthen indigenous manufacturers to produce locally made goods that could compete favourably with the imported ones.