First Lady Flags-Off Market-Moni Scheme, Presents Cheques To Beneficiaries In Abuja.

First Lady Flags-Off Market-Moni Scheme, Presents Cheques To Beneficiaries In Abuja.

First Lady Oluremi Tinubu on Wednesday, November 22, launched the targeted Expansion of the Market-Moni Scheme, just as she performed the symbolic presentation of cheques to some of the beneficiaries of the scheme in Abuja.

First Lady Tinubu, who performed both tasks during a launch ceremony, held at the State House Conference Centre, Presidential Villa, Abuja, in her speech, advised beneficiaries of the interest and collateral-free loans scheme to invest their money strategically.

Tinubu said the present administration is now poised to support Micro, Small, and Medium Enterprises (MSMEs) in the country so as to create a ripple effect for employment generation for Nigerians.

She said such support goes a long way in serving as a lifeline to those struggling to make ends meet while enhancing the overall well-being of individuals and families.

According to the First Lady, the transformative impact that MSMEs can have on the lives of the vulnerable ones in our society cannot be overemphasized, considering the fact that enterprises are the bedrock of our economy.

She said it plays a crucial role in fostering inclusive growth and providing tangible benefits to those who need it most, especially women and persons with disability.

Buttressing her position further, Tinubu’s wife said small-scale businesses provide a platform for the economic empowerment of those with limited resources who can become self-reliant entrepreneurs when equipped with skills and a supportive environment.

She said: “It is in this regard, that the rebranding of the three components of this programme is significant. Thus, Tradermoni (now rebranded Owo Oja or Olilanya Ndi Nagbambo or Tallafin Sana’a); Farmermoni (now rebranded Owoagbe or Olilanya Ndi Oru Ugbo or Tallafin Manoma); and Marketmoni (now rebranded Iyaloja or Nne Ahia or Agajin Yan Kasuwa).

“These rebranding drums home, especially among the womenfolk including traders and farmers, a deeper understanding and actual implication of the programme in our native languages.

“As I was informed that one of the strategic components of the Federal Government’s National Social Investment Programme (NSIP) is the Rebranded and Expanded Government Enterprise and Empowerment Programme (GEEP), this Programme is expected to focus, amongst others, on offering interest and collateral-free loans to small scale entrepreneurs thereby providing financial inclusion and enabling individuals with limited resources to access much-needed capital for entrepreneurial endeavours.

“This democratization of financial resources helps break down barriers and empowers the poor to participate actively in economic activities.”

Bemoaning traditional loans from commercial banks, she said such loans often come with high-interest rates and stringent requirements for collateral, making it challenging for those with limited assets to secure funds.

She stated: “Eliminating these barriers, through Micro, Small, and Medium Enterprises (MSMEs) programmes create a more accessible and supportive environment for individuals to start and expand their businesses.

“Such financial support enhances the overall sustainability of Micro, Small and Medium Enterprises (MSMEs). Small businesses often face cash flow challenges, and the absence of exorbitant interest rates ensures that entrepreneurs can invest profits back into their businesses, fostering growth and resilience. This, in turn, contributes to job creation and economic stability within communities.

“My words of advice to those who might secure interest and collateral-free loans through this Programme is that you should plan wisely, exercise financial discipline in managing the funds, invest strategically, be committed to a repayment agreement, and be flexible to be able to navigate the dynamic business landscape.

“It is on this note, that I hereby flag off the Renewed Hope Micro, Small and Medium Enterprises (MSMEs) Programme to the glory of God, and wish you all a successful participation in the scheme. May all those who participate in the scheme prosper in their various business ventures”, she said.

In her speech, the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, said the Market-Moni scheme targeted at one and a half million beneficiaries across various states in the country would cover all the 109 senatorial districts.

The minister said one major market from each of the senatorial districts would be taken, adding that each beneficiary would receive interest and collateral-free loans of N50,000 after registration.

Edu stated: “We are at a point to lift 50 million Nigerians out of poverty. They will be registered in the market. Their BVN will also be registered in the market…it is taking governance to the people.

“As soon as they register, a loan of N50,000 will be given to them, to use it for their businesses. The target for this is 1.5 million Nigerians that will benefit. We have other programmes that are within that bracket. Some of them are special projects targeted at Nigerians.

“I must say that Mr President is in a hurry to change Nigeria for the better within the next year. Other projects include the N-Power projects, the home-grown school feeding projects, the new special vehicle which is the End-Hunger project, by the Grace of God the President will be flagging that off next month, etc.

“Beyond this, we are going to also launch other projects that will help young people to get coding skills. We have several other projects.

“There are several interventions. We are dealing with multi-dimensional poverty so that in the end, we will have a nation that is strong under God, that its citizens will beat their chest and say indeed I am proud to be a Nigerian, and the Renewed Hope has truly come.”

Meanwhile, some of the beneficiaries of the scheme who spoke to journalists at the end of the event, expressed appreciation to the federal government for the interest-free loans, thanking the First Lady especially for her role.

The Women Leader at the Gwagwalada Main Market, Hajia Rekiya Shauibu, who said she deals in foodstuffs, iced fish and dried fish, described the loan as capital, saying, “N50,000 is capital, anywhere you fix it, it’s going to help. It’s not too small for a start and it’s not too big for a start.”

Also, Mrs Ironic Ude, an iced fish seller, expressed excitement over the loan, saying, “I’m very excited today, we were in the market when people from the Ministry of Humanitarian Services came to our market and informed us about this and today, I am here in the Villa, I am very happy because I am a beneficiary.”

To Mrs Malomo Mojisola, who deals in children’s items “This is to augment the business and it will go a long way. I’m happy because I know, to become a beneficiary is not easy. Out of thousands, few are chosen and to the glory of God, I’m among the ones that were chosen. N50,000, if God multiplies it, it can become N50 million, N500 billion, N500 trillion and so on.

For Mrs Saratu Maikeffi, a widow, who runs a small grinding machine business, the N50,000 is like a million naira to her, thanking President Tinubu and the First Lady.

“This will support me more and I’m very happy. This N50,000 e be like a million to me, I’m a widow. I thank God. May God bless the President’s wife and the President, please deliver my message to them. I’m very happy”, Mrs Maikeffi said.

Also speaking, the very excited Assistant Women Leader at Gwagwalada Market, Mrs Harira Hudu, who is a food vendor, described the loan as real help, praying for the wife of the President.

She said: “I happy to come to Villa, if not for Tinubu’s wife, I for nor fit come. Since all these years, I never come here, but today I’m very happy, happy, too much, because I come here today, they treated me fine, I enjoyed myself.

“I want her to come and do this again o, she no go fall from this chair o (Office of the First Lady), she go just dey go up and continue to dey help us. Now she don help us with N50,000, this one na real help for me; I go buy rice, I go buy tomatoes, I go buy pepper, I go use am cook food, everybody go eat and enjoy this our money for business. I be food seller.”

October 2023 Allocation: FG, States, LGAs Share N906.955 Billion.

October 2023 Allocation: FG, States, LGAs Share N906.955 Billion.

•••FG got N323.355 billion

•••States got N307.717 billion

•••LGs got N225.209 billion

•••Oil producing states got N50.674 billion as 13% derivation.

The Federation Account Allocation Committee (FAAC) has disbursed a total sum of N906.955 billion as October 2023 Federation Account Revenue to the federal government, states, and local government councils.

According to a communique issued by FAAC at its November 2023 meeting, the N906.955 billion distributable revenue comprised: N305.070 billion statutory revenue; N323.446 billion Value Added Tax (VAT) revenue; N15.552 billion Electronic Money Transfer Levy (EMTL) revenue; N202.887 billion Exchange Difference revenue and N60.000 billion augmentation

Total revenue of N1,346.519 billion was available in October 2023. Deductions for cost of collection amounted to N53.483 billion, and total transfers, interventions, and refunds totaled N386.081 billion.

Gross statutory revenue of N660.090 billion was received in October 2023, a decrease of N354.863 billion from the N1,014.953 billion received in September 2023.

Gross VAT revenue was N347.343 billion, an increase of N43.793 billion from the N303.550 billion available in September 2023.

From the total distributable revenue of N906.955 billion, the federal government received N323.355 billion, the State Governments received N307.717 billion, and the Local Government Councils received N225.209 billion.

A total sum of N50.674 billion (13 percent of mineral revenue) was shared to the relevant States as derivation revenue.

From the distributable statutory revenue of N305.070 billion, the Federal Government received N147.574 billion, the State Governments received N74.852 billion, and the Local Government Councils received N57.707 billion. The sum of N24.937 billion (13% of mineral revenue) was shared to the relevant States as derivation revenue.

The Federal Government received N48.517 billion, the State Governments received N161.723 billion, and the Local Government Councils received N113.206 billion from the distributable Value Added Tax (VAT) revenue of N323.446 billion.

The N15.552 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N2.333 billion, the State Governments received N7.776 billion, and the Local Government Councils received N5.443 billion.

The Federal Government received N93.323 billion from the N202.887 billion Exchange Difference revenue. The State Governments received N47.334 billion, and the Local Government Councils received N36.493 billion. The sum of N25.737 billion (13% of mineral revenue) went to the relevant States as derivation revenue.

The Augmentation of N60.000 billion was shared as follows: Federal Government received N31.608, the State Governments received N16.032 billion, and the Local Government Councils received N12.360 billion.

In October 2023, Import Duty, Petroleum Profit Tax (PPT), Value Added Tax (VAT), CET Levies, and Electronic Money Transfer Levy (EMTL) increased significantly, while Excise Duties and Companies Income Tax (CIT) recorded considerable decreases. Oil and Gas Royalties decreased marginally.

Governor Oyebanji Engages in Crucial Health Care Meeting with NPHCDA Executive Secretary.

Governor Oyebanji Engages in Crucial Health Care Meeting with NPHCDA Executive Secretary.                                                                      By: Comr Olamide Akinwumi 

In a significant move towards bolstering health care delivery, Governor Biodun Oyebanji convened a meeting today, Wednesday, November 22nd, with the Executive Secretary of the National Primary Health Care Development Agency (NPHCDA), Dr. Muyi Aina, in Abuja.

Emphasizing the BAO administration's unwavering commitment to healthcare, the Governor highlighted the transformative efforts directed at the 177 Primary Health Care (PHC) facilities across the state. Underlining the administration's dedication to public health, the state government has provided a substantial facelift to these essential facilities. Furthermore, Governor Oyebanji emphasized the implementation of essential health services, including free malaria treatment for children and complimentary medical attention for pregnant women.

The meeting with Dr. Muyi Aina signifies a collaborative approach to further enhance healthcare initiatives in Ekiti State. Governor Oyebanji reiterated the administration's focus on ensuring accessible and quality healthcare services for all residents.

As the dialogue between Governor Oyebanji and the NPHCDA Executive Secretary progresses, expectations are high for strategic partnerships and continued efforts to elevate the health sector in Ekiti. This meeting echoes the administration's commitment to prioritizing the well-being of the citizens and fostering a healthier future for the state.

Ekiti Government Pays N6.2 Billion UBEC Counterpart Fund To Advance Education Initiatives.

Ekiti Government Pays N6.2 Billion UBEC Counterpart Fund To Advance Education Initiatives.

The Government of Ekiti State, led by Governor Biodun Oyebanji, has paid N6.2 billion as counterpart funding to benefit from the Universal Basic Education Commission (UBEC) fund.

In addition to the UBEC counterpart fund, the government has allocated over N400 million to settle debts owed to contractors handling projects at the State Universal Basic Education Board (SUBEB).

This initiative complements the implementation of free and accessible basic education policies, contributing to a significant increase in school enrollment and positioning Ekiti as one of the states with the highest school enrollment in the country.

The Deputy Governor, H.E. Monisade Afuye, disclosed this while commissioning a block of four classrooms donated by the Build a School Initiative in Africa and Ajoni Local Council Development Area at St. Luke’s Primary School, Esun Ekiti.

The Government of Ekiti State remains a model sub-national government, dedicated to providing qualitative and accessible education and investing in critical infrastructure in the education sector to unlock the potential of school-aged children in the state.

Ekiti State Government Announces Official Flag-Off Ceremony for Ring Road.

Ekiti State Government Announces Official Flag-Off Ceremony for Ring Road.

In a recent statement, Mr. Sola Adebayo, the Commissioner for Works in Ekiti State, disclosed that Governor Biodun Oyebanji is set to perform the official flag-off ceremony for the ring road on Friday, November 24, 2023. The information was shared by Mr. Adebayo during a press briefing at his office in Ado Ekiti.

The Commissioner specified that the flag-off ceremony is scheduled to take place at Iworoko Ekiti, commencing at 10 am. He extended invitations to various dignitaries, urging the presence of members of the State House of Assembly, State Executive Council members, Traditional Rulers from across the State, Accounting Officers of MDA's, Religious Leaders, Opinion Leaders, Iyalajes, Iyalojas, and all stakeholders in the public transportation sector. Mr. Adebayo emphasized the importance of their attendance, requesting them to be seated by 9:15 am.

Commending the Governor for this initiative, the Commissioner highlighted the significance of the ring road project for the state. He expressed gratitude for the efforts and commitment of Governor Oyebanji in advancing infrastructure development.

The Director of Press at the Ministry of Works, Kunle Adeniyi, issued the press release on November 21, 2023, providing comprehensive details about the upcoming event. The official flag-off ceremony marks a significant milestone in the infrastructure agenda of Ekiti State, showcasing the government's dedication to enhancing transportation networks for the benefit of its residents.

Ekiti Govt Orders LG to Disburse N6.5m Salary Arrears to Chiefs.

Ekiti Govt Orders LG to Disburse N6.5m Salary Arrears to Chiefs.

The Ekiti State Government, has directed the Irepodun/Ifelodun Local Government Area of the State to immediately release the N6.5 million four years  salary arrears to Chiefs in Awo Ekiti, as part of the efforts to resolve the raging obaship tussle  in the community.

With this directive, the government, had succeeded in brokering truce over the salary crisis between Alawo of Awo Ekiti, Oba Abdulazeez Olaleye and some Chiefs, who accused the monarch of sidelining them in the salary payment since August, 2015.

In the petition written to the Ekiti State Ministry of Chieftaincy and Home Affairs, the Chiefs accused the monarch of depriving them of their statutory salaries on account of their opposition to his ascension to the throne. 

At a peace parley held at her office on Wednesday, the Deputy Governor, Chief (Mrs) Monisade Afuye, said the complaint raised by the Chiefs led to seizure of all the salaries of Chiefs  in the town since 2019 by the Local Government.

Subsequently, Mrs Afuye, in a statement by her Special Assistant Media, Victor Ogunje, ordered the Local government to instantly release the fund for onward distribution to all Chiefs across board .

Mrs Afuye said the two representatives appointed  from the two feuding parties should disburse the N6.5 million salary arrears  belonging to the Chiefs based on the extant sharing formula to prevent anyone from being neglected.

In the same vein, the Deputy Governor, mandated the council  to investigate the issue surrounding the relocation of some markets as alleged by Oba Abdulazeez and come up with a recommendations on the matter. 

"You know that Governor Biodun Oyebanji cherishes traditional institution and cater for the welfare of our Obas, so this money must be released to the Chiefs and it must be shared in line with  the directive given by Kabiyesi, because he remains the prescribed authority of his domain.

"I know that some of these Chiefs have not been attending palace meetings due to their opposition to emergence of the present monarch, but let them be paid pending the time the Supreme Court will adjudicate on this matter. 

"I appeal to Kabiyesi to allow this directive to stand, because you are the one presiding over Awo Ekiti now, try and seek peace. Have the spirit of oneness and unity. Do whatever is within your capacity to bring all your chiefs together. 

"Though, I agree that those opposing Kabiyesi and who had refused to attend palace meetings are not supposed to be paid, but Kabiyesi must pay them in the interest of peace. They are in court and we should allow them to enjoy that right. But whether they like it or not, they can't remove Kabiyesi, only the court or government can do that.

"Governor Oyebanji doesn't want problem in any part of the state and whoever foments trouble in that town after this resolution that all Chiefs must be paid will have himself to blame". 

Reacting, Oba Olaleye, said he had always been extending olive branch to his opponents in the town, particularly the Chiefs, lamenting that all his entreaties were being rebuffed.

The monarch expressed regret how some Chiefs were running a parallel government and stalling development in the town, despite emerging through a fair and transparent  contest among all contenders.

"I have always been  looking for ways to foster peace, but they have always been shunning all entreaties. They didn't allow me access to the palace, the place is now bushy. The markets that  are not supposed to be opened or patronised when an Oba is on the throne are being patronised, which was a taboo. 

"I am going to comply with whatever the government fashions out to resolve this crisis. I see them as friends and not enemies".

Rivers is under attack – Speaker

Rivers is under attack – Speaker

The Rivers State House of Assembly said the state was currently under attack by individuals who did not want the legislature to deliver on its constitutional mandate.

The Speaker, Mr Martins Amaewule, and his 26-member faction, unanimously condemned the burning of the assembly chamber during plenary on Tuesday.

Members, therefore, called for arrest and prosecution of individuals found to be involved in the act.

According to Amaewule, whenever the legislature of any state or nation is under attack, that state or nation is under attack too.

‘’Members of the legislature are representatives of the people but currently in Rivers, there is a problem because the legislature is under attack by some individuals who do not want it to perform its constitutional roles.”

The house, also during the sitting being the 83rd legislative session, made a first reading on the State House of Assembly Funds Management (Financial Autonomy) Bill, 2023.

The bill, sponsored by 27 members, including the Speaker, was presented at the floor by Mr Enemi George (PDP – Asari Toru II).

Explaining expectations of the bill, George noted that the bill sought to cater for the management of funds accruing to the assembly from the consolidated revenue fund of the state.

He said the measure was to ensure accountability and efficient utilisation of funds and other related matters.

George also noted that passage of the bill would promote independence of the legislature, accountability and efficient funds utilisation.

The News Agency of Nigeria (NAN) reports that the state has two factions of the assembly following the crisis that erupted on Oct. 30, resulting to the burning of the hallowed chamber of the House.

The aftermath of the crisis led to the division in the assembly, with Speaker Amaewule leading 26 members while Mr Edison Ehie (PDP-Ahoada 11) leading four members as a speaker. (NAN)