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SMEs CONTRIBUTED 48% TO NATIONAL GDP IN LAST FIVE YEARS – NBS

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No doubt Small and Medium Enterprises (SMEs) efficiently provide and deliver goods and services to regions where they are needed, create job opportunities, develop their communities, and foster healthy competition across all sectors of their economies by always coming up with innovations, which differentiates it with ordinary small business.

Reports show that the world is progressing rapidly and 600 million jobs will be needed by 2030. This should make the support of the SMES a high priority for governments around the world. Because their contributions are essential to economic growth and they enhance economic output while simultaneously improving the day to day welfare of citizens. Small and Medium Enterprises (SMEs) play major roles in world economies, particularly in developing countries.

According to the Nigeria Bureau of Statistics, small and medium scale enterprises (SMEs) in Nigeria have contributed about 48% of the national GDP in the last five years. With a total number of about 17.4 million, they account for about 50% of industrial jobs and nearly 90% of the manufacturing sector, in terms of number of enterprises.

Though significant growth has been achieved in the MSME sector, there is still much to be done. According to an article on “developing Africa through effective, socially responsible investing”, “there still exists a ‘missing middle’, which finds it hard to access funds due to the category of funding they belong to.” Other challenges encountered by the sector include lack of skilled manpower, multiplicity of taxes, high cost of doing business, among others

The Federal Government recently, released new details on the Micro Small and Medium Enterprises (MSMEs) support scheme being rolled out under the National Economic Sustainability Programme. According to estimates provided, the sum of N50 billion will be used to provide payroll support, N200 billion for loans to artisans,.

MSMEs support scheme have since kicked off to cushion the effect of lockdown imposed on the country earlier in the year which crippled the economy.

Federal Government 2020 empowerment loan for entrepreneur is another facility made available for upcoming entrepreneur and business owners.

What is Agric Small and Medium Enterprise Scheme (AGSMEIS)?

With the CBN AGSMEIS Loan, you can access up to N10M at 5% per year from the Agric, Small and medium enterprise scheme (AGSMEIS), an initiative from Central Bank of Nigeria (CBN); this is without collateral.

Prices of tomatoes, onion skyrocket in Enugu major markets

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The prices of tomatoes and onions have significantly increased in major markets of Enugu metropolis, the News Agency of Nigeria reports.

A market survey conducted by NAN on Thursday, reveals that prices of both commodities have increased when compared to a few weeks back.

The price of a big basket of tomatoes sells for between N15,000 and N17,500 as against N9,000 and N12,000 depending on the species.

The price of a small basket of tomatoes now costs between N10,000 and N13,500.

A tomato seller at new Akwata Market, Garki, Enugu,  Ego Madu, attributed the increase in the price of tomatoes to insufficient supply of the commodity from the Northern part of the country.

“The UTC specie that comes from Jos, which is supposed to have reduced in price from October is still scarce and expensive,” Madu explained.

According to her, as at October 2019, the UTC specie was sold for between N9,000 and N10,500; while the other specie from Benue was sold for between N6,500 and N8,000.

Tochi Ezema, another tomato trader at Garki market, said the prices might not reduce if the insufficiency in supply of the commodity continued, even as its season of abundance was gradually getting nearer.

According to Chris Odogwu, a customer at Mayor Market, the price of tomatoes tends to reduce towards the end of the year.

Odogwu expressed surprise that the price was still high even though this was November.

He urged the government to build storage facilities for preservation of perishable items in the country as that would ensure price stability and availability at all times.

Meanwhile, an onion seller, at New Garki Market, Ado Sani, lamented that the significant increase in the price of onions was associated with other factors apart from seasonal changes.

Sani listed the factors to include bad roads, increase in transportation fare from the northern part of the country, as well as the recent #Endsars protest.

According to him, a bag of onions is now between N65,000 and N70,000 as against N48,000 and N50,000 in October.

Another onion seller at New market, who spoke on condition of anonymity, said he was forced to suspend trading in the commodity because his customers were seriously lamenting over the price increase in the commodity.

“With the increase in the price of onions, I decided to stop buying and selling the commodity to my customers for now,” he said.

North Korea bans smoking in public spaces

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Legal and social controls have also been placed on production and sale of cigarettes

The Supreme People’s Assembly in North Korea has introduced a smoking ban in some public areas and spaces in order to provide citizens with “hygienic living environments.”

The new law aims to protect the health and lives of North Koreans, state media Korean Central News Agency (KCNA) reported.

Both legal and social controls on the production and sale of cigarettes have also been tightened, according to the quoted legislature.

Smoking is banned in specific venues, including political and ideological education centres, theatres and cinemas as well as medical and public health facilities.

This measure comes in despite more than 43 per cent of the country’s male population being smokers, according to World Health Organisation figures from 2013.

Leader Kim Jong-un is known to be a heavy smoker, often pictured by the state media with a cigarette in hand.

Jong-un has been seen holding a cigarette during visits to schools and once to a children’s hospital.

Earlier this year in August, state media released photos of the leader dangling a cigarette from his hand while discussing in a meeting the coronavirus health crisis.

KCNA announced that another new regulation had also been introduced, which asks businesses to take on extra land, energy and cost-saving practices.

‘The people have spoken’: Resurfaced video shows George Bush conceding defeat to Clinton in 1992 election

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A video of George Bush senior conceding defeat to Bill Clinton in the 1992 US presidential election has resurfaced on social media, in contrast with Donald Trump’s false victory claims and lawsuits to preventing the counting of votes.

In the widely shared video, Bush tells supporters that “the people have spoken”, that he respects “the majesty of the democratic system” and that his administration would “work closely with [Clinton’s] to ensure the smooth transition of power” after losing the election.

“Hey listen you guys,” the video shows Bush saying in the Westin Galleria Hotel in Houston, Texas as he raises his hands and appears to struggle to speak over a cheering crowd chanting “thank you George”.

“Here is the way I see it. Here’s the way we see it and the country should see it,” he said. “The people have spoken and we respect the majesty of the democratic system.” Bush said he had called Clinton and offered his congratulations for running a strong campaign.

“I wish him well in the White House,” he continued. “And I want the country to know that our entire administration will work closely with his team to ensure the smooth transition of power.

“There is important work to be done and America must always come first, so we will get behind this new president and wish him well.”

His speech comes in contrast to President Donald Trump’s reaction to the announcement of election results in 2020.

Trump has not yet lost the 2020 US election, which remains too close to call.  Democratic candidate Joe Biden appears close to victory after he won the key battleground states of Michigan and Wisconsin, but the definitive results will be known in the next few hours or days after key states finish counting all the votes.  

But Mr Trump has falsely claimed victory, announced he would pursue a recount in Wisconsin and threatened legal action to stop the counting of the votes in Pennsylvania.

Bill Clinton, then governor of Arkansas, won the overwhelming majority of electoral college votes in the 1992 US Presidential election – defeating Bush 370 votes to 168. Bush was the last US President to serve only one term.

JUST IN: Seven Years After Blacklist, Kwara Gets UBEC Grants To Rehabilitate Schools

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Kwara State Government has received N7,151,142,190 grants from the Universal Basic Education Commission (UBEC), the first time since 2013 when the state was blacklisted from the national scheme.

The UBEC grants are meant for rehabilitation of dilapidated basic schools, construction of new ones, equipment of the schools with ICT tools, training of teachers, and project evaluation, among other purposes contained in the UBEC work plan.

In a statement on Thursday, the state’s Commissioner for Education and Human Capital Development, Hajia Fatimah Bisola Ahmed, said the development represents “a historic feat” for Governor AbdulRahman AbdulRazaq “who has spent the last one year working to reposition basic education in the state, beginning with the payment of N450m diverted funds which had brought Kwara State under the hammer of the UBEC”.

“The N7.1bn is a cumulation of UBEC grants that were not accessed between 2014 and 2019. The money was not accessed because the former administration failed to pay its own counterpart funds,” the commissioner said.

“This money would be spent in phases over the next two years to fix up to 600 elementary schools out of the over 1400 decrepit basic education facilities across the state. The projects would be monitored by UBEC to ensure compliance with the work plan submitted by the government.

“This development has taken Kwara State out of the bottom position in the ranking of states with highest figures of outstanding UBEC grants. The pitiful state of basic education infrastructure in the state is a reflection of the failure to access UBEC funds and the near-zero investments in the sector over the past few years.”

The government, meanwhile, is organising a three-day workshop for local contractors and anyone who is interested in working with the Kwara State Universal Basic Education Board (KW-SUBEB).

The workshop begins on Tuesday November 9, 2020. Further details will be released, Ahmed said.

“In compliance with the Public Procurement Act 2007, the KWSUBEB will be inviting interested registered, competent, capable and reputable contractors to submit their pre-qualification document to tender,” the statement added.

2021 Budget: Reps reject aviation ministry’s financial plan over late submission

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The House of Representatives, on Thursday, refused to consider the 2021 budget proposed by the Ministry of Aviation as relevant documents were submitted to the Committee on Aviation barely an hour to the defence session.

The committee had earlier on Monday asked the Federal Government to suspend the plan to concession airports until all issues raised in the various petitions against the move had been addressed.

The lawmakers had also condemned Minister of Aviation, Hadi Sirika, for failing to appear before it earlier on Monday.

Though Sirika appeared before the committee on Thursday, the lawmakers still dismissed him for failing to submit budget details on time.

Chairman of the committee, Nnolim Nnaji, in his opening remarks, decried that the documents were made available to lawmakers less than two hours to the meeting.

Nnaji said, “Honourable Minister, l don’t know how you expect us to continue this meeting since we just got your 2021 budget proposal this morning despite giving you over a week notice, so that we can read through and digest it before today. I am not blaming you for this but l must say that I am disappointed in those who ought to have handled this but failed to do their jobs. For us to do a proper job, we need time to read through.”

Members of the committee also criticised the ministry for the lateness.

A member, Aminu Suleiman, stated that engagements on a budget go beyond instant presentation and comprehension as the lawmakers need to study the content to make useful inputs.

Suleiman said, “If we proceed to take this, it presupposes that we know very little about our work. How can an exercise of this nature be conducted with an on-the-spot presentation of reports? We have to tell ourselves the truth.

“We ask the minister and the agencies to come back; it is not intended to denigrate their persons, it is intended to equip us to do this job so that Nigerians will begin to take us seriously. We should have the opportunity to digest the report, make contributions, and assist the ministry even beyond what is presented in the envelope. If we don’t have that, truly speaking, we are not even helping the Ministry at all.”

Another member, Ndukwe Nkole, consequently moved a motion that “the minister go back with the documents, do the necessary tidying up and come back to us for appropriate legislative engagement.”

The motion was unanimously adopted by the committee.

The committee, therefore, adjourned the session till Thursday next week, after Sirika appealed for a change of the Wednesday date earlier proposed by the lawmakers.

The minister said, “(My) first apology, Mr Chairman, is that I and the committee, as represented by you, fixed a date for concession hearing and that date coincided with the date that Mr President said we should all go back home for the #EndSARS protest. A new date was agreed between you and me and that date, unfortunately, fell on Eid-Maulud on Thursday. And then, yet, again, another date was set and that date was the date that the Senate had put for (public hearing on) the aviation bills that have been on for about five years. I like to tender (my) apology to this committee which I served between 2003 and 2007.

NIGERIA TO MIGRATE FIXED LINE NETWORK TO 10-DIGIT NUMBER-NCC

There are plans all fixed subscriber numbers will be migrated from seven to a 10-digit number like the mobile counterpart by Nigerian Communications Commission (NCC).

Although, fixed lines represent only 0.13 per cent of the total telephone subscription in Nigeria.

The Nigerian Communications Commission (NCC) in the “Development Of A New Numbering Plan for Nigeria,” in a the draft final report released on Monday, says the present numbering plan and specific assignment being utilised by the mobile service will be maintained in the newly-developed numbering plan for the nation.

The Commission said there will be no need for any changes in number length, operator codes or service codes. Consequently there is no need for any migration plan for all numbers being issued by the mobile operators to their subscribers.

But NCC said a new service identification code (0)2 is recommended for assignment to fixed services in replacement of various digits assigned as area codes in the present geographic numbering system.

According to the Commission, this is mainly to differentiate fixed services from mobile services for billing purposes since fixed services have different termination rates, adding that fixed services billing is dependent on the distance from the originating caller to the terminating (receiver) equipment.

“Where the rate is not distance-dependent, then area codes are used only for routing purposes. Presently, the Nigerian fixed network uses a geographic numbering scheme where different geographical zones are represented by area codes.

#EndSARS protests: Buhari dispatches Chief of Staff, others to states

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President Muhammadu Buhari Thursday said his Chief of Staff, Prof Ibrahim Gambari, would be leading senior government officials to various parts of the country for engagements as parts of the efforts to address the concerns raised by #EndSARS protesters.

He also urged traditional rulers across the country to assist his regime in pacifying the protesting youths, saying he had heard their cries and was attending to their concerns.

According to a statement by his Special Adviser on Media and Publicity, Femi Adesina, the President spoke while receiving a delegation of the National Council of Traditional Rulers of Nigeria led by the Sultan of Sokoto, Alhaji  Sa’ad Abubakar III, at the Presidential Villa, Abuja.

The statement was titled, “President Buhari calls for support of traditional rulers in addressing demands of Nigerian youths.”

Adesina quoted the President as emphasising the imperative of support of traditional rulers in his regime’s determination to address the demands of the youth.

“We have heard the loud cries of our youths and children, and we are attending to their concerns.

“To succeed in all of this, we would require your support and voice to help amplify the message. Your proximity to the people places you in a unique position to communicate and ensure that our response is targeted and impactful,” the presidential spokesman quoted Buhari as telling the monarchs.

Describing their “role as guardians of our traditional values and culture” as most critical, the President urged them not to compromise their neutrality “because this is what significantly confers on you, your moral authority and legitimacy.”

He said Gambari would lead senior government officials to various parts of the country “and directly engage with you as part of this process. He will be reporting back to me on your various perspectives.

“I want to once again thank you for the role you all have played to calm down our youth with wisdom and authority. By instilling hope and keeping the peace, you have rendered the country great service.”

While receiving the recommendations of the traditional rulers, he promised to study them and take appropriate action.

Adesina said Buhari had earlier drawn the attention of the monarchs to the challenges of COVID-19 pandemic on the world.

NIGERIA MARKETERS URGE FULL DEREGULATION OF DOWNSTREAM OIL SECTOR

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Depot And Petroleum Products Marketers Association Of Nigeria (Dappman) Has Urged The Federal Government Of Nigeria To Take A Further Step Towards Full Deregulation Of The Downstream Sector, Saying It Will Enhance National Economic Growth.

Dappman Chairman, Winifred Akpani, Said The Association Remained In Full Support Of The Implementation Of A Fully Deregulated Regime Which Would Make The Downstream Sector’s Operations More Seamless, Enhance Transparency, Competitiveness In The Sector.

Petroleum Products’ Pricing And Regulatory Agency (Pppra) Had Last Week Introduced A New Price Regime, Hiking The Depot’s Pump Price Of Petrol To N151.

Consequently, Independent Marketers Hiked The Pump Price Of Petrol In Downstream Sector From N148 To N162. And Consumers Who Are Nigerians Have Continued To React To This New Development.

JOGGERS, THE NEW COOL…

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With athleisure on the rise, jeans and chino have some new competition. The jogger is the new must-have style for gents and ladies and it’s dominating the street style scene. No longer just for the sports-inclined, these comfortable pants are a new wardrobe staple.

What are Joggers?

Originally made for exercise, joggers are a traditional style of sports pant. Lightweight and comfortable, joggers have an athletic appearance and taper in at the leg. Most also tend to have an elastic or drawstring waist and elastic at the ankles. No longer seeming out of place or cheap, joggers are now a cool and contemporary item when styled correctly.

Comfortability is very essential when it comes to fashion. Often, most people just want to wear clothes that are beautiful and also comfortable.

You might have noticed that many fashionistas around the world started to combine comfort with style, creating amazing looks. When it comes to comfortable fashion, Joggers are in this category.

How to style joggers?

You can try bold colours with cool printed tees instead of a plain white shirt

If you want a rock chic look, you can try them on with leather boots and leather jacket, making yourself look like a rock star.

Try them on with your favourite floral or a tribal print. The most important thing is to find the perfect fit. You can go for wide-legged bottoms or harem styles.

You could also go for a monochrome look by wearing a grey top with your joggers or pair them with a graphic T-shirt and running shoes.

For the ladies, joggers can also be glamorized. A sporty look that comes with a striped top (black and white), stylish black athletic inspired bottoms, heels and gorgeous neckpiece.

For the guys, you can rock your joggers with a white top and jacket and of course your snickers. You will be good to go.

There are several ways to wear your joggers making you trendy and comfortable. Do you have any more ways, share with us on the comment section…