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MSMEs critical to GDP growth says DBN CEO

Managing Director/CEO of the Development Bank of Nigeria (DBN) Plc Dr Tony Okpanachi said the central challenge was no longer the economic reforms themselves but ensuring their benefits trickle down to businesses at the end of the chain.

Speaking during the launch of DAWN: DBN Action for Women in Nigeria and the unveiling of the DBN Impact Report he presented the DBN MSME Data Assets during the seventh edition of its Annual Lecture held in Abuja. He noted that micro small and medium enterprises (MSMEs) account for close to half of Nigeria’s gross domestic product (GDP) and more than eight in every 10 jobs

‘The major reforms are now in place. How do we make sure their benefits reach the trader in Onitsha the fabricator in Aba the farmer in Kebbi and the young founder in Yaba?’ he asked.

He noted that MSMEs account for close to half of Nigeria’s GDP and more than eight in every ten jobs adding ‘When reform works for MSMEs it works for most Nigerians.’

Dr Okpanachi explained that a reform becomes prosperity only when an entrepreneur can act on it whether through long-tenor loans to buy equipment a bank willing to take the risk or the skills and records needed to grow. Working through Participating Financial Institutions DBN provides longer-term funding partial credit guarantees through its subsidiary Impact Credit Guarantee Limited and capacity building including its Entrepreneurship Training Programme.

He reported that as at December 2025 DBN had disbursed a cumulative ?1.4 trillion to MSMEs through 84 Participating Financial Institutions creating about 1.6 million jobs nationwide. Under its new five-year strategy the Bank aims to reach more than two million MSMEs with deliberate targets for women-led businesses youth-led businesses and underserved states.

On DAWN Dr Okpanachi said finance alone had not enabled enough women-led businesses to scale. The initiative brings together financing guarantees and credit support technical assistance outcome-linked grants and market linkages delivered through banks microfinance institutions fintechs aggregators cooperatives and direct channels. Its priority sectors are agriculture and exports healthcare arts and creatives technology and green business.

‘DAWN is about moving gender-focused lending beyond intention and turning access into opportunity’ he said.

‘From Policy to Prosperity: Translating Economic Reforms into MSME Growth’ as the theme the 2026 lecture brought together government officials regulators development partners financial institutions and entrepreneurs to examine how national economic reforms can deliver real gains for micro small and medium-sized enterprises (MSMEs).

On the sidelines of the lecture DBN and the African Development Bank (AfDB) also held a signing ceremony for the AfDB-DBN $61 million Gender Line of Credit reinforcing the Bank’s commitment to women-led enterprises.

Dr Okpanachi urged Participating Financial Institutions to extend lending into sectors and states where access to finance has been limited; policymakers and regulators to ‘measure reform by what changes for the business at the end of the chain’; and MSMEs to formalise keep good records and use the support now available to them.

Dr Fred Iklaga Senior Technical Adviser in the Office of the Special Adviser to the President on the Economy represented the Vice President Special Guest of Honour. Keynote speakers were MTN Nigeria CEO Dr Karl Toriola and Nigeria Sovereign Investment Authority Chairman Dr Segun Ogunsanya. A fireside chat featured Sterling Bank CEO Mr Abubakar Suleiman; manufacturing and trade entrepreneur Mrs Omoyemi Chukwurah; and via video Mr Kola Masha of Babban Gona.

Representing the Secretary to the Government of the Federation Mrs Augusta Warrens Bekaredebo said the 2026 tax reforms would bring relief to many small businesses expressing optimism that ‘a lot of businesses will be smiling’ by next year because they will be exempt from tax.

Ember months: FRSC urges transporters to shun overloading

The Federal Road Safety Corps (FRSC) has urged transport operators to avoid overloading and mixed loading, warning that the practices endanger lives, compromise vehicle control and undermine Nigeria’s image.

The FRSC Corps Marshal, Malam Shehu Mohammed said this at the mega park rally on overloading and Mix-Loading with the theme ‘Overloading and mixloading: A Dangerous Trend to Avoid’ on Thursday in Abuja.

Mohammed who was represented by Assistant Corps Marshal (ACM) Operations, Mr. Godwin Omiko said that the rally was organised to sensitise the public, particularly transporters, on the dangers associated with overloading and the transportation of people, animals and goods together.

He said overloading could increase the risk of losing control of vehicles in emergencies, adding that the financial gains from carrying excess loads could not justify the cost of replacing damaged vehicles.

He also condemned the practice of conveying humans and animals together or mixing passengers with goods, describing it as dangerous and inconsistent with modern transportation standards.

‘Nigeria has attained a level of development that demands greater respect for human lives and the adoption of safer transportation practices. The rally was designed to encourage transport operators, fleet owners and other road users to embrace responsible practices and comply with safety standards,’ he said.

The FRSC boss acknowledged the support of partner organisations, including the National Association of Road Transport Operators (NARTO), the National Union of Road Transport Workers (NURTW) and other transport workers, in promoting safer road use.

Mohammed urged stakeholders to sustain efforts to discourage overloading and mixed loading, stressing the need for collective responsibility in protecting lives on Nigerian roads.

In his remarks, Chief Charles Phonsus, Chief Executive Officer of African Gem, said the partnership with the FRSC was driven by the need to protect lives and raise public awareness about the dangers of overloading.

Phonsus described life preservation as a shared responsibility, urging Nigerians and transport stakeholders to support campaigns designed to improve road safety.

He appealed to NARTO and other transport operators to embrace the campaign, stressing that the safety messages were intended to protect everyone using Nigerian roads.

‘As we approach December, we do not need to have casualties on our roads,’ he said, calling for greater commitment to safety during the festive period,’ he said.

Phonsus said African Gem, as a health and safety company, was committed to working with the FRSC to promote safer transportation practices.

He stressed that health and safety were interconnected, noting that protecting lives on the roads required collaboration among government agencies, private organisations and transport operators.

The rally formed part of efforts to discourage overloading and mixed loading and encourage transporters to prioritise the safety of passengers, goods and other road users.

Lived experiences heard, real voices, real change -Asido Foundation’s celebration of World Mental Health Day

The special commemorative edition of the interactive monthly community engagement (IMCE) series of the Asido Foundation was on the theme of this year’s World Mental Health Day celebrations (October 10). It held virtually on the 22nd of October, bringing together over 130 participants from across Africa and beyond, including mental health professionals, advocates, caregivers, policymakers, and individuals with lived experience of mental health challenges. The session was hosted by Gbonjubola Abiri, Chief Operating Officer of the Asido Foundation, and featured four panelists with lived experience who shared personal journeys and recommendations for systemic change in mental health care across Africa.

Key concepts emanating from the webinar were

Lived experience advocacy: The principle that individuals who have personally navigated mental health challenges hold unique and irreplaceable insight that must inform policy, program design, and care delivery. This is in line with the theme for this year’s World Mental Health Day celebrations.

Mental health stigma and discrimination: Societal shame, silence, and misunderstanding remain significant barriers that prevent individuals from seeking or receiving timely care. This situation further underpins the salience of the advocacy work of Asido Foundation and others.

Treatment gap: The significant disparity between the number of people who need mental health care and those who actually receive it is huge and is worsened by limited availability of mental health professionals, affordability barriers, and systemic neglect.

Community-based mental health: Mental health support and interventions must be embedded in homes, schools, churches, and communities-and not confined to clinical settings or hospitals.

Project HOPE: An initiative by the Asido Foundation launched in 2021 to identify, treat, rehabilitate, and reintegrate homeless individuals living with mental illness, operating in three phases: street identification, inpatient care, and community-based rehabilitation. A documentary showcasing success stories that have returned to normal functioning was highlighted as proof that recovery is possible.

The panelists shared their lived experiences of mental health challenges.

Four panelists shared deeply personal accounts of living with mental health conditions, each reflecting common themes of early onset, delayed diagnosis, family dysfunction, stigma, and eventual advocacy.

Moma (Cameroon) shared a lifelong journey with depression beginning in childhood, compounded by parental conflict, early losses of a nephew and cousin, anxiety, panic attacks, and suicidal ideation from age 14. She experienced severe postpartum depression after the birth of her second child, including depersonalization and derealization disorder, and faced dismissal from family members and language barriers when seeking care in a French-speaking region as an English speaker. She eventually found her way to a psychiatrist and therapy and today considers herself approximately 80% healed. She is now a mental health advocate and founder of a community-based organisation in Cameroon.

Ebunoluwa Ogunyemi (Nigeria), Deputy Program Manager at the Asido Foundation, described a journey that began in adolescence amid family dysfunction and multiple caregivers. She stumbled into care during a university internship at the Child and Adolescent Clinic of the University College Hospital, where she recognised her experiences in the patients she observed. She disclosed suicidal ideation to a doctor after nearly acting on it, was diagnosed with depression, and began psychiatric and psychological care. She has dedicated her life and work towards helping others suffering in silence to receive the help they need through the Asido Foundation.

James Nyabera (Kenya) grew up in a family where silence was the language of suffering, witnessing his late father struggle with mental health challenges after losing his job. As the firstborn, he carried unprocessed grief and functional depression, hiding his pain through academic productivity. In 2017, friends noticed behavioral changes and connected him to a college psychologist, where he was diagnosed with childhood trauma, PTSD, and functional depression. This experience inspired him to launch the campaign ‘A Man Must Cry’ to challenge harmful stereotypes around masculinity and break the silence around men’s mental health, noting that male suicide rates are 3 to 4 times higher than female rates.

Chilungamo M’manga (Malawi), a licensed clinical psychologist and founder of Mentor to Mentor, described symptoms of Obsessive-Compulsive Disorder (OCD) beginning around age six or seven, manifesting as extreme disgust responses, compulsive washing, and inability to use unwashed items. These behaviors were mocked or dismissed by family and peers for years. It was only during her psychology degree, when she studied mental health conditions that she identified what she had been experiencing. Unable to access a psychiatrist, she used self-help resources to manage her condition and later opened a private practice and founded Mentor to Mentor to raise awareness and provide support in schools and universities.

Conclusions

Mental disorders are common, with one in four persons experiencing a mental disorder at some point in their lives. Every 40 seconds, someone dies by suicide globally, the majority of whom have background mental disorders. Several barriers restrict access to care for affected persons.

The Asido Foundation calls on individuals, organisations, and governments to support mental health advocacy through financial donations, partnerships, and amplification on social media

GEEP APC stakeholders defend Tinubu’s economic reforms

The National Programme Manager of the Government Enterprise and Empowerment Programme (GEEP) Hamza Baba has declared that President Bola Ahmed Tinubu’s ‘Renewed Hope’ agenda is already yielding tangible results across the country.

Baba stated this in Abuja while delivering the keynote address at a National Dialogue on Progress organised by the All Progressives Congress (APC) support group Progressive Voice for Progressive Minds (PVPM).

He defended the Tinubu administration’s key economic policies particularly the removal of the petrol subsidy and the unification of the foreign exchange market noting that they were necessary to fix decades of economic distortion.

‘Renewed Hope is not a promise for tomorrow. It is a decision that is painful today for a prosperous tomorrow and progressive minds understand this’ Baba said.

‘For decades we subsidised consumption and starved production. President Tinubu took the boldest decision any Nigerian leader has taken. Today capital is returning to Nigeria.’

Urging party members to take ownership of the administration’s achievements ahead of the 2027 general elections Baba called on the PVPM to serve as the ruling party’s ‘intellectual engine.’

‘Go and defend the reforms in your WhatsApp groups wards and on the radio. Explain the Renewed Hope agenda and tell Nigerians why we had to go through this temporary pain’ he urged.

Supporting Baba’s position guest speaker Kehinde Bankole stated that major infrastructure projects like the Lagos-Calabar Coastal Highway demonstrate long-term national planning.

‘Every major structural rebuild comes with temporary pain. Rebuilding a nation requires short-term sacrifices so that future generations can reap the benefits’ Bankole noted.

On her part PVPM National Coordinator Theresa Ugbaja reaffirmed the group’s commitment to grassroots mobilisation revealing a target to secure about two million votes for President Tinubu in each state and the Federal Capital Territory (FCT).

‘We are proudly committed to supporting the APC but our support will always be constructive. We will support what is right promote good policies and also dare to speak up when something needs to be corrected’ Ugbaja said citing ongoing youth empowerment schemes and infrastructure growth.

FCT APC Chairman Shaku Yamawo charged the group to focus on voter education and mobilising citizens with Permanent Voter Cards (PVCs) at the community level to guarantee victory for all APC candidates in 2027.

Netanyahu set to remain caretaker after inconclusive Israeli election

Benjamin Netanyahu looked set to remain Israel’s caretaker prime minister after unexpectedly strong backing among Jewish voters left his opponents little apparent prospect of unseating him, ?despite his right-wing bloc losing its parliamentary majority.

With nearly 86% of votes tallied on Wednesday, Israel’s three main broadcasters projected Netanyahu’s bloc of right-wing, far-right and ultra-Orthodox parties would win 53 seats in the 120-seat Knesset, well ahead of the 48 for rival Gadi Eisenkot’s opposition bloc.

Parties representing Arab Israelis were projected to win an unprecedented 19 seats, leaving Eisenkot little realistic path to power without their broad backing, which many Jewish political leaders reject.

The results could still change as counting continued, but Eisenkot’s bloc of anti-Netanyahu parties, ranging from the centre-left to the hard right, had fallen short of pre-election polls that forecast a tight race.

Netanyahu would remain caretaker prime minister during any coalition negotiations and ?potentially until another election next year.

While a caretaker government faces some constraints, experts say it retains powers, including over the war with Iran.

Guy Lurie, a research fellow at the Israel Democracy Institute, said a caretaker government formally has the same powers as a regular government, but also has ‘a duty of restraint’ and less discretion in some areas.

Security fight sharpens

Netanyahu, addressing his Likud party’s faithful after 3am, called for the formation of ‘a strong, right-wing national government.’

He highlighted Israel’s military successes and raised the prospect of renewed joint military action against Iran alongside his ally, US President ?Donald Trump, saying the two countries had a ‘singular historical opportunity’ to remove what he called the Iranian threat ‘once and for all.’

Trump, who had urged Israeli voters to keep Netanyahu in power so the two leaders could ‘finish the ?job’ in Iran, said Netanyahu had done ‘very well’ and claimed his endorsement had ‘helped him a lot.’

Israel’s high-turnout vote was brushed aside by some in the rest of the Middle East.

In Tehran, banners with images of slain Supreme Leader Ayatollah Ali Khamenei reminded Iranians of US and Israeli strikes launched in February, which kicked off the war.

‘I genuinely see the possibility of attack,’ said ?50-year-old Iranian citizen Abdollah Karimi.

Frustration was also palpable in Egypt, the first Arab country to make peace with Israel in 1979.

Outhman Selim, a 62-year-old lawyer, said his hopes that a Netanyahu defeat would steer the ?country away from the far right had been dashed.

Eisenkot acknowledged that Netanyahu remained caretaker prime minister but warned that he might use security for political ends.

‘I call on the heads of the security establishment and the civil service: Netanyahu is caretaker prime minister, without a mandate or the people’s trust,’ he said. ‘Stand firm in the face of any attempt to challenge you.’

Netanyahu’s office has previously rejected accusations that he is using the Iran conflict for political gain and did not immediately respond to a request for comment on Wednesday.

The prospect of a caretaker government without a parliamentary majority weighed on Israeli markets. The shekel currency weakened around 1.6% to 3.10 to the US dollar.

’It’s not how much we borrow’: Tinubu defends fresh loans

President Bola Tinubu has responded to criticism, especially from opposition leaders, over new loans the country has accessed from international institutions and banks.

In an essay titled ‘From reforms to delivery: Our infrastructure investment and growth strategy,’ to be published on Nigerian news platforms, President Tinubu wrote: ‘The real question is not how much we borrow, but what we build, what value we create and what future we leave behind.’

President Tinubu identified the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and the modernisation of key commercial ports in Lagos as major projects expected to strengthen Nigeria’s productive capacity.

He said the projects, alongside investments in healthcare, education and vocational training, would connect economic regions, reduce logistics costs, unlock agricultural and industrial potential and attract private investment.

The Lagos-Calabar Coastal Highway is expected to cut logistics costs along its corridor by 15 to 20 per cent. It could add up to two per cent to Nigeria’s GDP through expanded trade, tourism, and industrial activity.

The project is also projected to generate about 100,000 direct jobs in construction and engineering, alongside more than 150,000 indirect jobs in logistics, materials and related services.

‘We are not simply building highways. We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria’s economic geography,’ the President said.

He said the administration’s ambition to build a $1 trillion economy by 2030 would require sustained infrastructure investment to support higher productivity, industrialisation and trade.

‘We cannot build a USD 1 trillion economy with infrastructure designed for an economy a fraction of that size,’ Tinubu said.

He wrote that improving economic indicators and growing international investor confidence are creating opportunities for Nigeria to attract long-term investment and expand critical infrastructure.

The President said the economic reforms his administration introduced in May 2023 helped restore macroeconomic stability, strengthen public finances, and improve the country’s standing in international financial markets.

He said a $1 trillion economy would not emerge by declaration alone but must be built through sustained investment, higher productivity, industrialisation, and trade, stressing that infrastructure development would be critical to achieving the target by 2030.

In an article titled ‘From reforms to delivery: Our infrastructure investment and growth strategy,’ Tinubu said real Gross Domestic Product growth reached 4.43 per cent in the second quarter of 2026, while headline inflation fell to 14.63 per cent in September from 20.98 per cent a year earlier.

He also said gross external reserves rose to $55.1 billion as of October 9, 2026, including about $46 billion in net reserves, while the tax-to-GDP ratio increased to 12.5 per cent from seven per cent.

Tinubu said real Gross Domestic Product growth reached 4.43 per cent in the second quarter of 2026, while headline inflation fell to 14.63 per cent in September from 20.98 per cent a year earlier.

The President attributed the improvements to measures including petrol subsidy removal, exchange rate unification, tax reforms and coordinated efforts to tackle inflation.

‘The decisions taken since 2023 were difficult but necessary,’ he said, referring to the reforms.

Tinubu said the gains have strengthened Nigeria’s ability to attract investment and finance projects that support long-term economic growth.

‘Confidence has a price; our cost of borrowing is going down, and the country risk premium has drastically decreased,’ he said.

The President cited positive assessments by international credit rating agencies as evidence of improved confidence in the economy.

‘These are not political endorsements; they are independent assessments by global rating agencies, index providers, regulators and investors, recognising stronger external reserves, improved macroeconomic management and greater financial credibility,’ Tinubu said.

According to the President, the improved standing could help Nigeria attract more institutional investors, secure longer-term financing and reduce borrowing costs.

He said the administration was shifting public borrowing away from financing short-term fiscal pressures towards investments that would generate economic returns, create jobs and expand opportunities for future generations.

The President said the government was also pursuing longer-term financing arrangements to match the lifespan of infrastructure assets, reduce refinancing pressures and secure more competitive funding for productive investments.

President Tinubu said Nigeria must convert renewed international confidence into capital expenditure, completed infrastructure and lasting economic benefits for citizens.

He identified five priorities for the next phase of the Federal Executive Council’s economic strategy: food affordability and energy price stability; budget harmonisation and fiscal discipline; completion of high-impact projects and investment in critical infrastructure; an improved economic policy framework and regulatory efficiency; and targeted household support alongside investment in human development.

The President stressed that the success of the current administration’s economic schemes would be measured by completed projects, increased investment, employment generation and improved living standards.

‘Securing financing is not the achievement. Completing the project, delivering value and improving the lives of Nigerians is the achievement,’ he said.

He added that the nation’s economic ambition must be supported by responsible borrowing and investments that create lasting opportunities for future generations.

Man arrested for allegedly defiling minor in Benue

The Police in Benue State have arrested a 60-year-old man over the alleged defilement of a 10-year-old girl in Igumale district, Ado Local Government Area (LGA) of the state.

The incident was reported to the police on October 13, 2026, while the victim was taken for medical examination and necessary treatment.

State Commissioner of Police, Cletus Nwadiogbu, told journalists in Makurdi during a press conference that the case was ongoing as he assured that the suspect would be dealt with in accordance with the law.

He also pledged to protect the privacy and welfare of the victim throughout the investigation.

Nwadiogbu said that the arrest was among the operational achievements recorded by the command during the month of October under review.

He also explained that the command arrested 14 suspects, recovered seven locally fabricated firearms and 16 rounds of ammunition and cartridges, and neutralised one suspected bandit.

The police commissioner attributed the successes to intelligence-led operations, prompt response to distress calls, sustained patrols and collaboration with other security agencies and community stakeholders.

Nwadiogbu therefore urged members of the public to promptly report cases of violence, abuse and other criminal activities to enable timely intervention.

’They’ll expand opportunities for future generations’, Tinubu defends Fresh loans

President Bola Ahmed Tinubu has responded to criticism from opposition leaders over the Federal Government efforts to access fresh loans from international institutions and banks.

In a piece entitled ‘From reforms to delivery: Our infrastructure investment and growth strategy’, Tinubu said, ‘The real question is not how much we borrow, but what we build, what value we create and what future we leave behind.’

Tinubu identified the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and the modernisation of key commercial ports in Lagos as major projects expected to strengthen Nigeria’s productive capacity.

He said the projects, alongside investments in healthcare, education and vocational training, would connect economic regions, reduce logistics costs, unlock agricultural and industrial potential and attract private investment.

According to the piece made available to journalists on Thursday, the Lagos-Calabar Coastal Highway is expected to cut logistics costs along its corridor by 15 to 20 per cent. ‘

It could add up to two per cent to Nigeria’s GDP through expanded trade, tourism, and industrial activity.

‘The project is also projected to generate about 100,000 direct jobs in construction and engineering, alongside more than 150,000 indirect jobs in logistics, materials and related services.’

‘We are not simply building highways. We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria’s economic geography,’ the President said.

He said the administration’s ambition to build a $1 trillion economy by 2030 would require sustained infrastructure investment to support higher productivity, industrialisation and trade.

‘We cannot build a USD 1 trillion economy with infrastructure designed for an economy a fraction of that size,’ Tinubu said.

He said improving economic indicators and growing international investor confidence are creating opportunities for Nigeria to attract long-term investment and expand critical infrastructure.

The President said the economic reforms his administration introduced in May 2023 helped restore macroeconomic stability, strengthen public finances, and improve the country’s standing in international financial markets.

He said a $1 trillion economy would not emerge by declaration alone but must be built through sustained investment, higher productivity, industrialisation, and trade, stressing that infrastructure development would be critical to achieving the target by 2030.

Tinubu said real Gross Domestic Product growth reached 4.43 per cent in the second quarter of 2026, while headline inflation fell to 14.63 per cent in September from 20.98 per cent a year earlier.

He also said gross external reserves rose to $55.1 billion as of October 9, 2026, including about $46 billion in net reserves, while the tax-to-GDP ratio increased to 12.5 per cent from seven per cent.

Tinubu said real Gross Domestic Product growth reached 4.43 per cent in the second quarter of 2026, while headline inflation fell to 14.63 per cent in September from 20.98 per cent a year earlier.

The President attributed the improvements to measures including petrol subsidy removal, exchange rate unification, tax reforms and coordinated efforts to tackle inflation.

Employers must be included in negotiations for new minimum wage – NECA

The Nigeria Employers’ Consultative Association (NECA) has warned that employers could not be bound by agreements of minimum wage reached without their participation and concurrence.

NECA said this while insisting on an inclusive tripartite process involving government, employers and workers for the negotiation of the new minimum wage in a statement on Thursday.

The association’s Director-General, Mr Adewale-Smatt Oyerinde who said this in Abuja urged stakeholders against treating the National Minimum Wage (NMW) as an automatic, across-the-board salary increase.

Oyerinde said the minimum wage is a statutory wage floor for covered workers.

He acknowledged workers’ concerns over rising living costs and declining purchasing power but maintained that employers must participate fully in minimum wage negotiations.

‘While NECA respects the right of the Government and Organised Labour to hold bilateral discussions, such engagements cannot substitute for the statutory tripartite process,’ he said.

Oyerinde said employers could not be bound by agreements reached without their participation and concurrence, although they remained obligated to comply with minimum wage laws validly established.

He said NECA was not opposed to reviewing the minimum wage but insisted that negotiations must be inclusive, transparent, evidence-based and consistent with International Labour Organisation (ILO) standards.

‘Consequently, any credible minimum wage determination must take into account the cost of living, workers’ welfare, productivity, enterprise sustainability and ability to pay,’ he said.

He added that employment generation, job retention, prevailing economic conditions, high energy costs, inflation and expensive access to funds must also inform wage decisions.

Oyerinde cited ILO Convention No. 131, Recommendation No. 135 and Convention No. 144 as instruments supporting consultation and social dialogue in wage determination.

He explained that consequential salary adjustments and general wage increases differed from the statutory minimum wage and should be addressed through collective bargaining, contractual arrangements and enterprise-level negotiations.

The NECA director-general also expressed concern over threats of industrial disruption, warning that avoidable work stoppages could undermine business recovery, job security and investor confidence.

He said small and medium-sized enterprises (SMEs) were particularly vulnerable to disruptions amid prevailing economic pressures and efforts to sustain productive activities.

‘We, therefore, call for constructive social dialogue, mutual respect and the use of established lawful dispute-resolution mechanisms to preserve industrial harmony,’ he said.

Oyerinde urged the Federal Government and other social partners to uphold tripartism and relevant ILO standards when formal minimum wage negotiations commenced.

He said the outcome should balance workers’ welfare with productivity, enterprise sustainability, employment considerations and prevailing national economic conditions.

‘We firmly believe that workers’ welfare and business survival are complementary objectives that must be pursued concurrently in the interest of national development,’ he said.

He reaffirmed NECA’s commitment to decent work, fair remuneration, sustainable enterprises and productive employment, stressing that a fair minimum wage should protect workers, preserve jobs and support economic growth.

Lyca Gairanod resumes studies after song ‘Puede Nang Mangarap’ resurgence

Lyca Gairanod has returned to school to pursue her long-time dream of finishing her education, as her song ‘Puede Nang Mangarap’ gains renewed popularity on TikTok.

During the announcement of the nationwide karaoke competition TNT SayaOke, Gairanod shared that she has returned to school after previously stopping her studies.

‘Nag-start na akong mag-aral uli. So gusto ko makapagtapos. Nag-stop po ako. Now, nag-accelerate ako to senior high,’ she said.

Asked what she tells people who ask if they can already pursue their dreams, the singing champion encouraged them to go for their aspirations regardless of time or circumstance.

‘Sabi ko, anytime you want. Anywhere. Sa pangarap, wala namang oras yan eh. Anytime pwede,’ she said.

Her song ‘Puede Nang Mangarap,’ which was released in 2015, has recently gained traction on TikTok, bringing renewed attention to the singer and opening up opportunities for guest appearances.

During the event, the young singer also highlighted the importance of opportunities for aspiring singers, particularly through competitions that allow them to showcase their talent.

‘Minsan, isang opportunity lang talaga ang kailangan mo sa buhay. Kaya mahalaga ang mga contest tulad ng TNT SayaOke sa pagbibigay sa mga Pinoy ng chance para maipakita ang talento nila sa mas maraming tao at ma-inspire sila na magpatuloy lang sa pagkamit ng kanilang mga pangarap,’ she said.

SayaOke

Meanwhile, TNT and Viva are giving aspiring Filipino singers a chance to pursue their musical ambitions through SayaOke, a nationwide karaoke competition.

A total of 48 finalists from Luzon, Visayas, and Mindanao have advanced to the competition’s weekly live showdowns after being selected from auditions submitted through the Vivaoke app.

The finalists include 24 singers from Luzon, 12 from the Visayas, and 12 from Mindanao. Each weekly showdown will offer P300,000 in cash prizes and give participants an opportunity to showcase their talents to a nationwide audience.

One of the seven weekly winners will also have the chance to receive a recording contract from Viva Music.

MG Mozo, president of Viva Music Publishing Inc., said the competition aims to discover promising Filipino talent and provide them with opportunities.

‘TNT SayaOke is an exciting opportunity to discover promising Filipino talent and give aspiring singers a chance to be heard. We are especially excited to offer one of the seven weekly winners a recording contract, allowing a standout talent to pursue a music career,’ Mozo said.

Viva artist Krissha Viaje, who is part of the cast of the Viva One series ‘Our Yesterday’s Escape,’ also attended the announcement. Having started pursuing her passion for singing at a young age through local and international competitions, Viaje emphasized the importance of perseverance in achieving one’s goals.

‘Kailangan talaga ng patience and hard work para makamit ang iyong pangarap. Dapat matibay ang tiwala mo sa sarili, at wag palampasin ang mga opportunity na maipakita ang talent mo sa mundo,’ she said.