Not too long ago, the Nigerian Postal Service (NIPOST) introduced new charges that would cause an increase in the costs of licensing for logistics and courier service providers which resulted in major outrage all over the country. Small businesses in Nigeria are still trying to adjust and move around these changes that have been imposed […]
It is amazing that with over 37 million SMEs in Nigeria, more than 95% don’t have access to credit. This shouldn’t be so if these SMEs contribute to more than 50% of the Nigerian GDP. No wonder many businesses end up dying within the first few years of operation. The place of capital in running […]
After the recent release of the Companies and Allied Matters Act that was just signed into law by the presidency. Religious leaders and bodies have come out to express their grievances with the new bill that has just been passed. Claiming it was aimed at stifling the growth and development of churches in Nigeria. Which […]
What better time to discuss CBN loans for SMEs in Nigeria than now? Many businesses have been shaken by the effects of COVID-19 and are seeking funds to rebuild. The truth is that even before the pandemic, it has never been easy to raise funds for business purposes. The Central Bank of Nigeria understands the […]
SMEs in Nigeria face several problems such as raising capital and dealing with bigger competitors. It is interesting to note that logistics remains one of the biggest challenges that SMEs face. This problem is not local to Nigeria, rather, it is one that SMEs all over the world battle with. When you have a clear […]
When the Federal Government approved the establishment of the N75 billion Nigerian Youth Investment Fund (NYIF), a crowd of young Nigerians were excited about the innovation. They hope it could reduce the surging rate of unemployment in the country, and the general economic breakdown now worsened by the Coronavirus (COVID-19) pandemic. With the recent approval […]
The ACGSF was established by Decree No. 20 of 1977, and started operations in April, 1978. Its original share capital and paid-up capital were N100 million and N85.6 million, respectively. The Federal Government holds 60% and the Central Bank of Nigeria, 40% of the shares. The capital base of the Scheme was increased to N3 […]
The Federal Government is set to inject over N600 billion as stimulus response into the agriculture sector. The Minister of Agriculture and Rural Development, Sabo Nanono, made this known in a statement signed by the Director of Information of the ministry, Mr Theodore Ogaziechi on Sunday in Abuja. The minister according to the statement, made […]
Recently, SMEDAN launched a mass registration program for MSMEs nationwide. The aim is to provide support to small and medium scale enterprises within the country. It is expected to provide SMEDAN with a comprehensive list of MSMEs to ensure that it carries out its functions effectively. Asides helping the body achieve its aims, MSMEs also […]
In view of the strong representation of female entrepreneurs within the SMEs space, The Nigerian Stock Exchange (NSE) hosted a webinar in collaboration with the International Finance Corporation to address the theme, Supporting SMEs and Women-Owned Businesses in Corporate Value Chains. Speaking at the webinar, the Divisional Head, Shared Services, NSE, Bola Adeeko noted, “Entrepreneurs […]
