Gov Abba Yusuf of Kano State has been handed a 6 months suspension by the Board of Trustees of a faction of the New Nigeria People’s Party (NNPP).

This decision, revealed by Comrade Oginni Olaposi Sunday, the party’s National Secretary, is linked to alleged anti-party activities involving the governor.

During a press conference held at the party’s headquarters in Abuja, Oginni stated that this suspension stems from Yusuf’s failure to comply with a prior summons to appear before a disciplinary committee.

The committee was tasked with investigating his alleged violations of the party’s constitution, specifically his participation in what the party deems an unauthorized national convention organized by the Kwankwasiya group on April 6, 2024, at the Class Event Centre in Wuse, Abuja.

“We called this conference to intimate you on the developments resulting from the recent invitation extended to Gov. Abba Kabir Yusuf of Kano to appear before a disciplinary committee,” Oginni explained. He highlighted the necessity of addressing these issues publicly, given the governor’s status as a prominent national figure of the NNPP.

The disciplinary committee, led by Barrister Monday Mawah and with Prince Adetoyese Omakanye as secretary, noted that Gov. Yusuf did not attend the scheduled hearing or provide any explanation for his absence despite being given ample opportunity to defend himself.

“In accordance with Article 39.0, 39(1-4) on disciplinary procedures, His Excellency Abba Yusuf was availed with an unfettered opportunity to explore all openings to resolve the issues being investigated as stipulated therein in relation to allegations of gross misconduct brought against him, he however failed to take advantage of this by not appearing,” Oginni added.

The NNPP’s internal regulations and the 2022 constitution, as amended, mandate strict adherence to party discipline and the supremacy of party directives. The decision to suspend Yusuf was made following a unanimous decision by the National Working Committee (NWC), underscoring the party’s commitment to maintaining stringent internal democratic and disciplinary measures.

says party’s stability at stake

Abuja: Barely 48 hours of the National Executive Committee (NEC) meeting of the Peoples Democratic Party (PDP), the PDP Loyal Group 100 percent, has said lasting peace will elude the party if former Vice President, Atiku Abubakar does not sacrifice his 2027 Presidential ambition and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, is not sanctioned for anti-party activities .

National Cordinator / Chairman of the group , Dennis Shima said this while addressing newsmen in Abuja, on Tuesday.

The group suggested that Atiku should act as a statesman, sacrifice his 2027 Presidential ambition and support one of his mentees for the PDP ticket while the party should use the powers conferred on NEC to sanction Wike and others whose activities have proven detrimental to the party’s stability.

The pro- PDP interest group came to linelight after 2015 general election with the sole objective of addressing the political challenges and intimidations faced by PDP loyalists across Nigeria after PDP lost 2015 presidential general election as a result of internal crisis.

Shima said the group took the decision to suggest a reasonable cause of action for the party ahead of the NEC meeting after wide consultations and several meetings.

He said, “We also consulted widely across Nigeria and resorted to call on PDP National Caucus, Board of Trustees BOT and most importantly NEC to do the following in accordance with the provisions of PDP Constitution (As amended 2017) without prejudices thus: “Advise, His Excellency Alh. Atiku Abubakar GCON, former Vice President of Nigeria (1999 to 2007), PDP 2019 Presidential Candidate and 2023 Presidential Candidate to stop further contest for PDP Presidential Tickets beginning from 2027. And further, request His Excellency Alh Atiku Abubakar GCON to support one of his many mentees across Nigeria to contest for PDP Presidential Tickets beginning from 2027.

“We call on, His Excellency Alh Atiku Abubakar GCON, to nominate and support, any of his many mentees from the appropriate geo-political Zone for 2027 presidential election.

“We also call on, His Excellency Alh Atiku Abubakar GCON, to appreciate God for his wealth of experience and mentorship in Nigerian democracy under PDP since 1999 to date.

“Therefore, accept this clarion call for him to be a statesman and kingmaker politically going forward. We are optimistic that, His Excellency, Alh Atiku Abubakar GCON, former Vice President of Nigeria, and two times PDP presidential candidate, is not an ingrate and will be grateful to God and PDP, for the platform provided for him, to serve Nigerians in the aforementioned capacities.

“We are optimistic that, if His Excellency Alh Atiku Abubakar GCON, accepts his fate going forward as a, father, husband, mentor and statesman in PDP and by extension Nigerian democracy, PDP will win the forthcoming 2027 presidential general election in Nigeria landslide without many political battles as recently faced from prominent figures in Nigeria who are against the person of His Excellency Alh Atiku Abubakar GCON former Vice President of Nigeria.”

The group further said, “Secondly, we call on the forthcoming PDP National Executive Committee NEC to exercise its power and authority inline with provisions of PDP Constitution regarding; offenses and sanctions, as contained in Section 58(1) a, b, c, d, e, f, g, h, I, l, and m. And also Section 59(1) a, b, c, d, e, f, and g, as well as Subsection (2), (3), (4), and (5) to “suspend” His Excellency Barr. Nyesom Wike CON, former Governor of Rivers State from participating in meetings or functions, of PDP at all levels at home and abroad, directly or indirectly.

“Considering the fact that, the deviant PDP stalwart obtained a Court Order restraining PDP from expelling him from the party, we jettison the option of expulsion from the PDP, which would have been appropriate sanction to him.

“This is because of former Governor Wike’s present role as Federal Minister and responsibilities in APC led Federal Government, which is alien to the character and ethics of PDP and also violates, the Constitution of our great party as given in the above sections 58, 59 and subsections (as amended 2017) without prejudices to the personality of the former Governor of Rivers state Mr. Nyesom Wike until the day he officially leaves the Pay Roll of APC led Federal Government under President Bola Ahmed Tinubu GCFR. After all, PDP receives returnees into its membership. “

The PDP pressure group recalled that, ahead of 2015 general election, a group of G5 Governors emerged from PDP known as New PDP led by His Excellency Alh. Atiku Abubakar GCON former Vice President of Nigeria (1999-2007) which then frustrated PDP campaigns and caused the defeat of PDP at the 2015 presidential polls in Nigeria which is why the unfortunate President Buhari led Federal Government happened to Nigerians from 2015 to 2023.

It equally said, “In 2016, PDP100% in collaboration with His Excellency Senator Ahmed Mohammed Makarfi- led National Caretaker Committee to rebrand PDP to be what ought to be ahead of future elections beginning from 2019, we mobilized like minds across Nigeria to uphold the vision and mission of PDP in Nigeria with our motto “100% Loyalty Pays”.

“We stood by Senator Makarfi- led Caretaker committee to legally dislodge former Governor Ali Modu Sheriff who was appointed PDP National Chairman in 2016 and later became a thorn in the PDP flesh up to Supreme Court and PDP won.

“We contributed to rebranding of PDP during the 2017 PDP National Elective Convention in various capacities including publicity subcommittee with our sweats

In a move to revolutionise Nigeria’s trade and commerce, President Bola Tinubu has launched the National Single Window Project, which is expected to generate an annual economic benefit of approximately $2.7 billion from paperless trade alone.

The National Single Window Project is a cross-government initiative that aims to simplify trade processes, unlock economic potential, and position Nigeria as a global trade leader.
The project will create a single digital platform that links ports, government agencies, and stakeholders, enabling a seamless and efficient trade ecosystem.

“The National Single Window is a game-changer that will revolutionise the way we conduct trade,” said President Tinubu during the launch event at the State House in Abuja. ”
By simplifying government trade compliance through a digital platform, we will unlock the doors to economic prosperity and all other opportunities.”

The project is expected to reduce the time and cost of doing business in Nigeria, making it more attractive to foreign investors.

Additionally, the platform will enhance transparency and efficiency in the trade sector, which will help to reduce corruption and improve revenue collection for the government.

Tinubu said the project is expected to reduce the time and cost of doing business in Nigeria, making it more attractive to foreign investors. Additionally, the platform will enhance transparency and efficiency in the trade sector, which will help to reduce corruption and improve revenue collection for the government.

“The National Single Window is a game changer that will revolutionise the way we conduct trade. By simplifying government trade compliance through a digital platform, we will unlock the doors to economic prosperity and all other opportunities.

“This initiative will link our ports, government agencies and key stakeholders, creating a seamless and efficient system that will facilitate trade like never before. Imagine a Nigeria where business can save time and resources, where small enterprises can reach global markets and where the informal e-commerce sector is brought into the fold increasing our tax base. This is the Nigeria we are building with the National Single Window.

“The benefits of this initiative are immense. The paperless trade alone is estimated to bring an annual economic benefit of around $2.7 billion US dollars. Countries like Singapore, Korea Kenya and Saudi Arabia have already seen significant improvement in trade efficiency after implementing Single Window Systems.

“It is time for Nigeria to join their ranks and reap the reward of a streamlined, digitised trade process. We cannot afford to lose an estimated $4 billion annually to red tape, bureaucracy, delays and corruption at our ports.

“The National Single Window will address these issues headlong, preventing revenue leakage and facilitating effective trade. By doing so, we will create a more transparent, secure and business friendly environment that will attract investment and spur economic growth.

“The implementation of the National Single Window will not be an overnight process, I know. It requires dedication, collaboration and a phased approach. But I assure you my fellow brothers and sisters, that we are fully committed to seeing this project through.

“We work tirelessly to ensure its success by engaging all partner agencies and stakeholders to create a system that works for every one of us”, he said.

According to the chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, the implementation of the National Single Window Project is expected to generate an average GDP growth rate of seven per cent annually.

“The National Single Window is a decisive response to the challenges we face in the current international trade environment,” said Adedeji.

“By improving trade facilitation, revenue generation, economic growth, transparency, security, and streamlining processes, we will transform Nigeria into a global trade powerhouse.”

The National Single Window steering committee, which includes representatives from various government agencies and ministries, has set a target of 24-hour port clearance, significantly faster than the 72-to-48-hour range in neighbouring countries.

“Our aim is to streamline this process so that minimal information is entered, benefiting all government agencies involved in import and export procedures,” said Mohammed Bello-Koko, the Managing Director of the Nigerian Ports Authority.

Members of the National Single Window steering committee are: Representatives of the Ministries of Finance, Marine and Blue Economy, Transportation, Industry, Trade and Investment, Federal Inland Revenue Service, Nigerian Customs Service, Nigeria sovereign Investment Authority (NSIA).

Others are “ Central Bank of Nigeria (CBN), National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organization of Nigeria (SON), Nigerian Maritime Administration on Safety Agency (NIMASA), Nigerian Ports Authority (NPA) and Presidential Enabling Business Environment Council (PEBEC).

The Kaduna chapter of the All Progressives Congress (APC) has denied any intention to suspend the former governor of the state, Mallam Nasir El-Rufai.

Recent reports had suggested that El-Rufai would face suspension from the ruling party due to alleged anti-party activities.

However, the spokesperson for the APC in Kaduna, Salisu Wusono, addressed the speculations on Tuesday evening.

In a terse response to TheCable, Wusono dismissed the alleged plan to suspend the party chieftain, stating categorically that there is no such plan by the party leadership.

“Nothing like this!,” Wusono said.

It is worth noting that El-Rufai was recently seen with Abdul Ningi, a senator who was suspended for accusing the 2024 budget of being padded by approximately ₦3 trillion.

Additionally, El-Rufai paid a visit to the headquarters of the Social Democratic Party (SDP) in Abuja.

Naija News understands that these visits elicited debates on and off social media, as many speculated that the former governor was plotting a political move.

In a reaction earlier, the SDP national chair, Shehu Gabam, said political meanings should not be read into the SDP visit because he has known El-Rufai for quite some time.

He said: “My relationship with Mallam Nasir el-Rufai predates 1999. I knew him long before then, and we have been close.

“Coming to the SDP secretariat, I don’t know why it is so special that people misinterpret or interpret how it suits them. There are a lot of politicians of the APC that have visited me, and other parties have visited me.

“Do not forget that not too long ago, Al Mustapha came to my office and people were speculating that he is decamping to SDP.

“Will you be surprised if President Bola Tinubu visits SDP? He knows me and I know him.”

It is worth noting that El-Rufai played a major role in the merger that birthed the APC in the buildup to the 2015 polls.

However, the Kaduna State House of Assembly on Tuesday commenced a probe into “multi-million dollar loans” taken during the El-Rufai administration.

A former National Publicity Secretary of the Peoples Democratic Party (PDP), Kola Ologbondiyan, has shed light on why the party has not taken decisive disciplinary action against its former presidential aspirant and current Minister of the Federal Capital Territory (FCT), Nyesom Wike.

Wike’s recent appointment raised eyebrows within the party, fueling speculation about his possible alliance with the All Progressives Congress (APC) under President Bola Ahmed Tinubu.

Despite these concerns, the PDP has refrained from immediate punitive measures against the ex-Governor of Rivers State.

Addressing the media, Ologbondiyan clarified that the party is meticulously adhering to its established procedures.

“There’s a disciplinary committee whose responsibility it is to look extensively into the situation before deciding whether or not to sanction the FCT minister,” he explained, emphasizing that the party operates under a strict constitution that governs its internal affairs.

He said, “Let me start by saying that the constitution of the party provides for how the party should be managed. That has been clear from the onset. The responsibility of the day-to-day running of the party lies in the office of the national chairman.

“So in respect of the minister of the FCT, Nysom Wike, it’s about disciplinary action. And I can recall that under the leadership of Secondus, when the former Governor of Ebonyi State, (Dave) Umahi, started relating with the APC, a letter was written to him in form of a query and issued to him to explain to the party why he was rallying with the APC.

“So the constitution of the party provides for disciplinary measures. It’s not a mob. Somebody can’t rise from somewhere and carry wood and say ‘You are responsible for this and that.’

“So the purview of sanctioning is with the current working committee to consider your action this way or that. The party also has a disciplinary committee where matters of this nature are addressed.”

The ruling All Progressives Congress (APC) National Working Committee (NWC) has said that the Inspector General of the Nigeria Police Force, Kayode Egbetokun, has been informed about the purported suspension of its National Chairman, Abdullahi Ganduje.

The party executives maintained that non-APC members sponsored the suspension and that the perpetrators would be brought to justice upon police investigation.

The ruling party’s latest action was disclosed in a statement yesterday in Abuja by APC National Publicity Secretary Felix Morka.

According to Morka, the purported suspension of Ganduje is downright criminal and has no effect whatsoever. He asserted that the opposition party plotted the political event to create confusion with the APC.

The statement reads: “The attention of the All Progressives Congress (APC) has been drawn to media reports of the purported suspension of the National Chairman, HE Abdullahi Umar Ganduje, CON, from the party by the Executive Committee of the Ganduje Ward in the Dawakin Tofa Local Government Area of Kano State.

“The purported suspension was the devious act of a group of impersonators of ward officials out to cause mischief and create confusion in the otherwise peaceful Ganduje Ward chapter of our party. The perpetrators of this criminal act are not card-carrying members of APC in the ward but are individuals affiliated with senior officials and representatives of the NNPP.

“This act procured by officials of the ruling NNPP in Kano is part of the despicable programme of political persecution launched by the administration of Governor Abba Kabir Yusuf against Ganduje, a former Governor of Kano State.

“The purported suspension is downright criminal, and of no effect whatsoever. The legitimate Executive Committee of the Ganduje Ward has since denounced the action and reaffirmed Dr. Ganduje as a bonafide member of the Party in the Ward, and in good standing.”

Determined to unearth the mastermind behind the suspension, Morka said: “The party has filed a petition with the Inspector General of Police, requesting an expedited investigation of this matter and that the perpetrators and their sponsors be brought to justice.”

Earlier, the APC’s Kano State chapter warned party ward leaders who falsely declared the suspension of Ganduje, stating that they will face legal action.

During a press conference held in Kano yesterday, the ward chairman of the party in Ganduje’s area of residence, Alhaji Ahmed Mohammed Koko, declared that the party intends to sue the ward leaders for their involvement in “conspiracy, impersonation, and defamation”.

He said: “The purported suspension was null and void, and would have no any effect on the national chairman.

“The ward and local government executives, having identified the persons involved in this unfortunate situation, have already prepared to charge them to court for impersonation and calculated attempt to embarrass and dent the image of the party and that of the national chairman.

“We call on all party members to disregard the purported suspension and remain calm.”

The Minister of Interior, Mr Olubunmi Tunji-Ojo, says corruption and corrupt practices fuel insecurity in the country, calling for all hands to be on deck to fight the menace.

The minister said this, when he paid a courtesy visit to Dr Musa Aliyu, SAN, the Chairman of Independent Corrupt Practices and Other Related Offences Commission (ICPC), on Tuesday in Abuja.

Tunji-Ojo said the purpose of his visit was to strike a synergy between his ministry and the ICPC.

He expressed the belief that collaborating with anti- corruption agencies could help to tighten the belt and block loopholes even within the administrative processes.

“We know the Ministry of Interior is responsible for the enhancement of internal security and, of course, corruption is one of the biggest threats to security in Nigeria.

“So, we don’t need to move too far before we get to the point of intersection, where our interests remain.

“We believe that in leveraging and collaborating with ICPC, we might just be saving our country from a lot of effort that is needed in righting the wrongs.

“We believe that all over the world the language is pro-activeness, the language is prevention, the language is no more detection or correction,” he said.

According to him, the world is moving and is moving so fast.

He noted that as product of the 20th and 21st century, there was the need to learn the language of the 22nd century.

“And, the language of the next generation, which we must learn as a country is to build strong institutions.

“One believes that the strategic relationship between these two agencies can of course block a lot of reports, can prevent and, of course, can deter even the imagination of ill doings.

“If we do not do that, we will continue to run after the criminals. And, once we are running after the criminals, it becomes a game of fun to the criminals,” he said.

He explained that all over the world the criminals would be running after the state to meet up with the state, not the state running after the criminal.

“It means we have to up our pace.

“And we believe that the management of ICPC is well poised towards ensuring that a new Nigeria, not just built on hope, but on renewed hope comes to life.

“I realise that a lot of errors that people or mistakes that people make in government are actually very avoidable. That’s the truth.

“And, I believe that the lack of knowledge transfer has created a lot of lacuna and has reduced the level of performance of government officials.

“So, we are looking at the area of capacity building, strongly collaborate with you in areas of capacity building.

“As the saying goes, you will always be a slave to what you don’t know. So, we need to collaborate, we need to build capacity or run capacity,” he said.

He stressed the need on collaboration with the agency to tighten the belt and block loopholes within the administrative processes.

“How do I mean by that? I’ll tell you, I sincerely believe that if we have a functional unit of ICPC officers saddled with certain responsibility of going through certain decisions before they are activated, we might save ourselves a lot of stress in detection.

“I sincerely believe, and I say this with all utter insincerity, that I think the Ministry of Interior will be where we can use to test this particular idea,” he said.

The ICPC chairman in his remarks said that the commission had been trying as much as possible to discharge its mandate within the confines of the law.

“This is to ensure that we have Nigeria, which is less corrupt and a country whereby people have confidence within and outside the country.

“This is because I keep on saying that we need investments.

“And two major key issues that you need to have on ground to have investment in the country, is one secure environment, which the Minister of Interior has responsibility in ensuring that Nigeria is secure.

“Also, there is less corruption because no investor will come to a country whereby you will feel insecure. And there is also challenge of bribery and corruption,” he said.

Musa said that he had always tried to see how ICPC could achieve its mandate of prevention, enforcement, education and enlightenment to combat the serious challenge facing the country.

“I have been in discussion with the minister; we have discussed a lot about how we can partner to ensure that ICPC, Ministry of Interior and its agencies work closely to ensure that we help this country in fighting this challenge of corruption.

“The only way we can do that is by coming together like the gathering we are having today and also to sit down and carefully look at how we can work closely,” he said.

The immediate past governor of Kaduna State, Malam Nasir El-Rufai has described states’ electoral commissions as rigging tools of the state governors.

El-Rufai stated this on Monday in Maiduguri, in his lead paper presentation titled: “Capacity Building Workshop on Enhancing Skills of Government Officials In Policy Implementation and Productive Human Resources Management”.

The former governor recalled the success recorded through electronic voting for local government areas elections he conducted during his tenure as governor.

He also narrated how a Northwest state governor wanted to use his pattern, but after availing him of the technique used in conducting the elections, he went back to his state and wrote results of the local government elections he conducted instead of conducting it electronically.

The former governor who expressed total support of abolishing state electoral commissions stressed that the Independent National Electoral Commission (INEC) could be handling all local government elections.

“While I was the Governor of Kaduna State, I introduced electronic voting and conducted local government election with it. After the election, we lost about three to four local government areas to the opposition, because of the credibility of the election. And because we were transparent in the election, some of those opposition candidates decamped to our party because of our fairness in the election.

“I remember that one governor from the Northwest who loved the conduct of the election through electronic voting asked me to assist him with the technology I used in the election, but because it has the state logo, I told him that it would not cost more than 10,000 US dollars, so that he can get the equipment to conduct his state LGA election electronically. But after that conversation, I did not hear from him again, he went back home and conducted his election by writing the results as usual,” El-Rufai said.

On the demolition exercise in Kaduna during his administration, El-Rufai said prior to assumption of office, the people knew who he was, and that he was very careful at ensuring that every demolition carried followed due process.

He added that his government’ is adherence to the process was responsible for the absence of court cases after the exercise.

The National Security Adviser, NSA, Nuhu Ribadu, says the Federal Government has rescued over 1,000 victims of verified mass abduction across the country without paying ransom.

Ribadu disclosed this on Monday, in Abuja while receiving 22 rescued students and staff of the Federal University Gusau, that the covert operations were conducted in the last few months.

He said the successful rescue operations were testimonies to the efforts of the government to free all those being unlawfully held in captivity.

“We have so far released over a thousand of such victims without noise and in complete respect for their privacy and safety.

“We released people from Zambara, Sokoto, Kaduna, Katsina, Taraba, Adamawa, and so many other states.

“Thousands, but never said a word and we thank God for that, and maybe that is the reason why we are so far very successful.

“This occasion marks a final juncture in a series of rescues we have undertaken in the last few months to free victims of recent cases of mass abductions that are verified.

“It is making a difference, it is a matter of time and we will see the outcome of the work we are doing,” he said.

The NSA said the victims were rescued unhurt and without any of the female abductees molested, adding that it was a marked departure from what had been the case in the past.

According to him, going forward, the government is strengthening law enforcement and security measures to prevent further abductions.

He added that the government would strengthen physical security across vulnerable communities in the country.

“This work is done by our security forces, our armed forces, our police, our intelligence agencies.

“All of us collectively have done this work together and we all are fully participating and this is the outcome of it,” he said.

Ribadu commended the leadership of President Bola Tinubu for working assiduously to address insecurity in the country.

According to him, the efforts have led to great improvement in recent times in taming terrorist attacks.

Recall that those rescued were abducted from the school on September 22, 2023, when bandits attacked three off-campus students’ hostels at Sabon Gida in Gusau.

Those kidnapped from the university included female students, some male artisans, a private security guard and a protocol officer.

The federal government through the Ministry of Industry, Trade and Investment has commenced the disbursement of the Presidential Conditional Grant Scheme to verified applicants.

The disbursement is coming barely two months after the agreement for the loan was sealed between the federal government and the Bank of Industry.

In a progress report posted on the trade minister’s official X (formerly Twitter) handle on Tuesday, Doris Aniete stated that an unspecified number of beneficiaries have received their grants, adding that by Friday, April 19, another significant disbursement will be made to a substantial number of verified applicants.

She said, “We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced. Some beneficiaries have already received their grants, marking the beginning of our phased disbursement strategy.”

“By Friday, 19th April 2024, a significant disbursement will be made to a substantial number of verified applicants. It is essential to understand that disbursements are ongoing, and not all applicants will receive their grants on this initial date. However, rest assured that all verified applicants will eventually receive their grants in subsequent phases.”

The Federal Government, through the Ministry of Industry, Trade and Investment, had in February signed three agreements with the Bank of Industry that would unlock over N200bn funding for businesses in Nigeria.

The first agreement enables both parties to establish the FGN Micro, Small and Medium Enterprises Intervention Fund in the sum of N75bn, while the second agreement is for the the N50bn Presidential Conditional Grant Scheme (PCGS).

The scheme which is also known as the Nano Business Grant Support Section of the Presidential Palliative Program of the federal government would allow the sum of N50bn to be deposited as Grant and with BOI from time to time.

The third agreement would enable both parties to set up the N75bn FGN Manufacturing Sector Fund to be deposited by FMITI with BOI from time to time for the purpose of financing projects and activities falling within the parameters of the Fund.

Under the first agreement which is the N75bn MSMEs fund, the amount would be used to finance approved projects to support micro, small and medium-scale enterprises and serve as a cushion against the high cost of production, marketing and distribution of products arising mainly from infrastructure deficiencies and other ancillary factors involving MSMEs in Nigeria.

The operation and management of the Fund would be the responsibility of BOI in accordance with the terms and conditions of the agreement.

Under the second agreement which is the N50bn Presidential Conditional Grant Scheme (PCGS), the amount would help to cushion the negative impact of the removal of fuel subsidy by the FGN, and the resulting increase in the pump prices of petroleum products in Nigeria on businesses.

The removal of subsidy had led to some unintended economic hardship on the citizenry of Nigeria.

In a bid to cushion the effect of the fuel subsidy removal, President Bola Tinubu had in a national broadcast made on 31st of July, 2023 introduced palliative measures to support families and businesses affected by the fuel subsidy removal.

The federal government, through the Trade Ministry, is establishing the Nano Business Grant Support Section of the Presidential Palliative Programme to protect and sustain the income of vulnerable nano enterprises from the shock of the economic downturn.

This is in furtherance of the attainment of economic revitalisation, employment preservation and generation, growth, and development of nano businesses throughout Nigeria.

The ministry has a target of at least 1,000 nano business owners in each of the 774 local governments across the country and the six council areas in the FCT, especially women and youth, thereby supporting the growth of nano businesses and improving the social well-being of households across the Nation between now and March 2024.

As the custodian of the Fund, BOI would leverage all its applicable expertise, business profiling and field infrastructure, branch and agent networks, partnerships, and plug-ins across financial institutions nationwide, technology and data management systems, third-party partnerships and institutional support.

Some of the target sectors/businesses include Trade (single retail marketers, corner shop owners, petty traders, market men, women, and youths in open market spaces); Food Services (Food and Vegetables Vendors), ICT (business centers operators, battery chargers, recharge cards vendors, call center agents); Transportation (Wheelbarrow Pushers, independent dispatch riders): Artisans (Vulcanizers, Shoe repairers, painters);Creatives (Makeup artists, fashion designers, drycleaners), and any other sectors as may be identified by the ministry.

For the third agreement, which is in respect to the FGN Manufacturing Sector Fund, the government’s target is to provide support for businesses in the manufacturing sector of the Nigerian economy nationwide.

This is in furtherance of the attainment of economic revitalisation, reduction in the cost of production, employment generation, and inclusive growth and development of the manufacturing sector throughout the Federal Republic of Nigeria.

As custodian of the Fund, BOI would leverage on all its applicable expertise, business profiling and field infrastructure, branch and agent networks, partnerships and plug-ins across financial institutions nationwide, technology and data management systems, disbursement and collections infrastructure where applicable, third-party partnerships and institutional support where effective to the target beneficiaries across all states in Nigeria.

The Fund would be utilized to support eligible manufacturing companies and afford same a cushion against the high and rising costs of production, marketing and distribution of products arising from, among others, infrastructural deficiencies and other ancillary factors affecting manufacturers and the manufacturing sector in Nigeria.

The operation and management of the Fund would be the responsibility of BOI in accordance with the terms and conditions of the agreement.