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N200bn presidential palliative will support businesses in Nigeria – FG
Minister of Industry, Trade, and Investment, Dr Doris Anite, said President Bola Tinubu’s administration’s N200 billion Presidential Palliative Programme will support businesses in Nigeria.
Anite said this during her presentation at the Ministerial Sectoral News Conference in commemoration of President Bola Tinubu’s first anniversary on Tuesday in Abuja.
She said the programme, aimed at catalysing economic growth, provided grants to nano businesses and loans to Micro, Small and Medium Enterprises, MSMEs, and manufacturers at single-digit interest rates.
Anite said the ministry, in partnership with the Bank of Industry, BOI, successfully began phased disbursement of the grants in line with the palliative programme.
The minister said President Tinubu was committed to supporting manufacturing and industrial clusters for industrialization.
According to her: “The ministry had commenced the initial process of mapping out major industrial clusters across the country to provide these with targeted intervention, thereby enhancing their vibrancy and competitiveness.”
She said a lot of industrial clusters are still not connected to efficient and affordable power supplies, but the ministry has started connecting some of them.
Dr Anite said: “We are flagging off our “Light Up” campaigns, starting with the Agbara Industrial Zone, which is not connected to the power grid. We are connecting it to the power grid. We will connect the Danwanu market in Kano to captive gas power. We are connecting the Nnewi industrial cluster to gas.
“We will continue to focus on supporting industries until all industrial hubs have electricity and gas to manufacture cheaper and more competitively. This strategic move signifies our resolve to harness clusters as engines of economic growth and development, fostering innovation, job creation, and inclusive prosperity across Nigeria in line with the Renewed Hope Agenda.”
CREDIT: DAILY POST
Dangote Refinery has announced that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low interest from Nigerian marketers. The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are purchasing its fuel.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these details during an X Space session hosted by Nairametrics on Wednesday. He highlighted the challenges facing both the Dangote Refinery and Nigeria’s oil and gas sector.
Edwin explained, “I’m selling 2 to 3 percent to small traders who are willing to buy, while the remaining 95 to 97 percent has to be exported,” referring to the local sales of the refinery’s products.
This situation arises as the NNPCL’s deadline for adjusting the Dangote Refinery’s fuel distribution approaches without a clear plan in sight. It is worth noting that while Aliko Dangote, President of Dangote Group, has announced the refinery’s initial petrol rollout, its distribution to marketers is contingent upon NNPCL’s decisions.
The final sixteen teams for the 2024 FIFA U-20 Women’s World Cup in Colombia have been determined following the conclusion of the group stage.
In recent matches, Ghana triumphed over New Zealand with a score of 3-1, and Japan secured a 2-0 victory against Austria.
As a result, Japan has advanced to the Round of 16, joining the other 15 teams in this knockout stage.
The Round of 16 matches are scheduled for Wednesday, Thursday, and Friday.
The full lineup for the Round of 16 is as follows:
- Spain vs Canada
- Brazil vs Cameroon
- Colombia vs South Korea
- Mexico vs USA
- North Korea vs Austria
- Germany vs Argentina
- Netherlands vs France
- Japan vs Nigeria
The Nigerian Army has refuted claims of widespread resignations among its soldiers due to issues like corruption and low morale.
In a statement, Major General Onyema Nwachukwu, Director of Army Public Relations, dismissed these reports as unfounded.
A news outlet had alleged that numerous Nigerian soldiers were resigning because of corruption and low morale. However, the statement condemned these allegations as misleading and a deliberate attempt to create discontent and undermine the Nigerian Army’s reputation and the dedication of its personnel.
Major General Nwachukwu clarified that, similar to other military organizations worldwide, service in the Nigerian Army is voluntary rather than mandatory. This means that personnel have the freedom to resign following established procedures.
He explained that the resignation process allows personnel to prepare and manage their entitlements, including pensions and gratuities, as outlined in the Harmonized Terms and Conditions of Service (Officers/Soldiers).
Contrary to the report’s implications, the statement emphasized that Nigerian Army personnel are highly motivated, and their welfare is a priority under the leadership of Chief of Army Staff, Lieutenant General Taoreed Lagbaja.
We’ll be forced to export 97% of our petrol – Dangote Refinery warns
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