Connect with us

NEWS

Adeleke Flaunts Cooperative Financing Scorecard, Expands Start-Up Grants to 2000

Published

on

 

Osun State Governor, Senator Ademola Adeleke has flaunted his government’s records in cooperative financing for small businesses and expanded the start-up grant programme with 2000 new beneficiaries.

A government statement in Osogbo on Thursday cited Gov Adeleke as saying that the event was not just another ceremony; but a bold statement of his commitment to people-centric governance and inclusive development.

Gov Adeleke declared, “We are gathered here for the presentation of Business Registration Certificates, Point-of-Sale Terminals (POS), and Start-Up Grants to 2,000 women and youth beneficiaries of the Imole Business Empowerment Scheme 1.0, organized by the Ministry of Cooperatives and Empowerment in partnership with First Bank Plc and Fidelity Bank Plc.”

Describing the scheme as a practical demonstration of resolve to take empowerment beyond slogans, Gov Adeleke highlighted advances already recorded by his administration in all sectors.

According to Gov Adeleke, “In January 2024, Osun State held its First Cooperative Summit and Awards, the first of its kind in the history of our state. It was at that maiden summit that I announced a ₦1 billion cooperative revolving loan, which, in response to the growing needs of our people, was later reviewed upward to ₦3.450 billion. Out of this, ₦1.6 billion has already been released to beneficiaries across the state.

“Through the cooperative revolving disbursement programme, we have implemented two phases. Ward-based cooperatives initiatives, expanded from 332 to 401 wards, with 389 wards fully benefitting. So far, ₦736,050,000 interest-free loans have been disbursed at the grassroots level, directly impacting over 20,000 households.

“Conventional cooperative unions and societies under the umbrella of FOSCOOP received ₦800,000,000, reaching over 250 cooperative unions and societies, with 10,233 individual cooperators benefitting.

“We extended our reach to Osun indigenes outside the state, disbursing ₦50,000,000 to beneficiaries in Abuja and Northern Nigeria.

“Together, these interventions bring our total cooperative revolving loan disbursement to ₦1,586,000,000.00.

“In September 2024, we flagged off the new working capital of the MSMEDF programme, laying the foundation for the ultra-modern office complex of the Osun Micro Credit Agency, and disbursed ₦250 million MSMEDF cheques to prospective loan applicants.

“In May 2025, the Ministry, in collaboration with Fidelity Bank, organized a Food Bank Initiative where over 3,000 residents received free foodstuffs to cushion the hardship of the times.

“We are also upgrading the Sen. Isiaka Adetunji Adeleke College of Cooperative Studies, Ode-Omu, to become a Uniosun campus for cooperative and management studies, starting academic activities in September 2025 with approved programmes in Taxation, Transport Management, Development Studies, and others.

“Our administration has empowered persons living with disabilities, in partnership with Project Enable Africa, while also rehabilitating and upgrading structures at the Cooperative College in Ode-Omu.”

He noted further that the Imole Business Empowerment Scheme 1.0 marks a turning point. This initiative is targeted at 2,000 women and youths across the 30 Local Governments and the Area Office of Osun State.

“Each beneficiary will walk away today with: CAC Business Registration Certificate; POS Terminal, and a Start-Up Grant, to immediately begin their journey into entrepreneurship and financial independence.

“Beyond the handover of tools and funds, this scheme is built on capacity building and training, so our beneficiaries can grow and expand their businesses sustainably. This initiative is not just about today; it is about building the future of Osun State.

“It is about equipping our people with the skills, opportunities, and support to thrive. By focusing on women and youth, we are investing in the most productive segment of our society”, the Governor explained.

ALSO READ: Tinubu a Reformer, You’re Just a Motivational Speaker – APC to Obi After Borrowing Criticism

Welcoming the governor and the team, the Commissioner for Empowerment and Cooperatives Development, Prince Bayo Ogungbangbe noted that the event is not just a presentation of empowerment items, but a testimony of this administration’s commitment to sustainable development, youth empowerment, women’s inclusion, and inclusive economic growth.

He charged beneficiaries to use these opportunities wisely to grow their businesses diligently, and become worthy ambassadors of this noble initiative.

The event was attended by the Secretary to the State Government, Hon Teslim Igbalaye; the Chief of Staff to the Governor, Hon Kazeem Akinleye; Yeyeluwa Modupe Adeleke-Sanni; members of the State Executive Council and top officials of Fidelity Bank and First bank.

NEWS

Kainji–Birnin Kebbi Power Line: TCN Begins Final Phase of Restoration

Published

on

The Transmission Company of Nigeria (TCN) has commenced the final phase of restoration works on the 330kV Kainji–Birnin Kebbi Transmission Line following the recent collapse of Tower T367 along the line corridor.

TCN, in an update issued on Wednesday, said significant progress had been recorded at the affected location in Yauri, where restoration activities are ongoing.

ALSO READ: TCN Restores 330kV Shiroro–Mando Line, Strengthens Power Supply to Kaduna

According to the company, the collapsed transmission tower has now been completely dismantled and decommissioned, while the conductors and skywire have been properly aligned and prepared for the next stage of the restoration process.

TCN also disclosed that an Emergency Restoration System (ERS) tower has been moved to the site and is ready for installation.

The company said the installation would be followed by cable stringing and other associated works towards the restoration of the affected transmission line.

“Our engineers and technical personnel remain actively engaged at the site and are working hard to ensure a quick completion and restoration of the line.”

TCN said it remained committed to restoring normal bulk transmission as soon as possible and appealed to electricity consumers and other stakeholders affected by the incident for patience and understanding.

“TCN appreciates the patience and understanding of electricity consumers and other stakeholders affected by the incident and assures the public that every effort is being made to restore the line and consequently, normal bulk transmission as soon as possible.”

 

Continue Reading

NEWS

Tanker Drivers Suspend Strike after FG Intervention

Published

on

The National Union of Edible Oil Tanker Drivers of Nigeria (NUEOTDN) has suspended its planned nationwide strike scheduled to begin Wednesday following Federal Government intervention in its dispute with operators in the edible oil industry.

The last-minute suspension averted a potential disruption in the transportation and distribution of edible oil across the country, with the union directing members to maintain normal operations while negotiations continue.

READ ALSO: Tinubu Applauds $800m FID on Ima Gas Project

NUEOTDN President, Ilias Aperun, announced the decision in a statement dated September 22, saying interventions by President Bola Tinubu and the Department of State Services (DSS) had opened discussions towards resolving the issues that prompted the planned industrial action.

“The planned industrial action scheduled to commence today, 23rd September 2026, has been suspended.”

Aperun said the union decided to give the government intervention time to produce results in the interest of economic stability and protection of the edible oil supply chain.

“In the interest of peace, national economic stability and the protection of the edible oil supply chain, the Union has decided to suspend the planned action and give room for the ongoing government intervention,” he said.

The union consequently directed its members and other stakeholders to halt preparations for the strike and continue normal operations pending further directives.

Aperun said discussions aimed at resolving the dispute were already underway, adding that the union remained committed to protecting the welfare and legitimate interests of its members without jeopardising the supply of edible oil.

“The NUEOTDN remains committed to the protection of the public health of the masses, welfare and legitimate interests of its comrades, while also supporting a peaceful and sustainable resolution of the issues at stake,” he said.

He urged stakeholders in the industry to cooperate with the ongoing negotiations, saying constructive engagement remained necessary to resolve the issues raised by the tanker drivers.

The union expressed appreciation to the Federal Government for its intervention and urged members to remain calm while awaiting the outcome of the discussions.

Aperun said further developments would be communicated as negotiations progressed.

Continue Reading

NEWS

Tinubu Welcomes $12m Abuja Entrepreneurship Centre to Boost MSMEs, Create Jobs

Published

on

President Bola Ahmed Tinubu has welcomed the construction of a $12 million Abuja Centre for Entrepreneurship, saying the facility will strengthen Nigeria’s Micro, Small and Medium Enterprises (MSME) ecosystem and create more opportunities for businesses to grow and generate jobs.

The President made this known in a statement issued on Wednesday by his Special Adviser on Information and Strategy, Bayo Onanuga.

The Abuja Centre for Entrepreneurship (ACE) is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, with funding from the Republic of Korea through the Korea International Cooperation Agency (KOICA).

SEE ALSO: Tinubu Applauds $800m FID on Ima Gas Project

The project is being implemented in partnership with the Federal Government through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).

The centre will provide workspaces, digital facilities, training, incubation and enterprise support for aspiring entrepreneurs, start-ups and existing businesses.

According to the statement, the facility has an initial target of supporting 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.

About $5.9 million of the investment will be allocated to construction, while $6.1 million will fund equipment and programmes designed to support entrepreneurs and businesses.

Tinubu said the centre would help establish, strengthen and grow businesses.
“Small businesses are an important part of our economy. They employ people, support families and create activity in communities across the country.

“Many entrepreneurs already have the ideas and the determination to succeed. What they often need is better access to facilities, technology, training and the support that can help their businesses grow.

“This Centre will provide more of that support and strengthen the ecosystem around them,” he said.

The centre is expected to serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.

It is also expected to contribute to strengthening the wider entrepreneurship and MSME ecosystem across Northern Nigeria.

The President said the Federal Government would continue to expand the conditions that allow small businesses to grow and compete.

“We want more Nigerians to be able to start businesses, grow them and employ others.
“We also want existing small businesses to have better access to the tools and support they need to become stronger and more productive.

“That is important for jobs, incomes and the wider economy,” Tinubu said.
He added that the project complements the administration’s wider investments in digital skills, entrepreneurship, enterprise development and support for MSMEs.

The centre has also been designed to accommodate women and persons with disabilities. It will include accessible facilities and crèche services for women with young children.

While construction is ongoing, SMEDAN, KOICA and UNDP will work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to build a wider support system around the centre.

The partners will also identify businesses that can benefit from the centre’s programmes.

Tinubu thanked the South Korean government for the $12 million investment and commended KOICA, UNDP and SMEDAN for advancing the project to the construction stage.

He said Nigeria would continue to welcome investments and partnerships that strengthen local businesses, deepen enterprise development and create more jobs.

“Our economy will be stronger when more Nigerian businesses can start, survive and grow.

“We must keep building the support around them and opening more opportunities for enterprise across the country,” the President said.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

1
0
Would love your thoughts, please comment.x
()
x