Category: PM News

The Federal Government has reaffirmed its resolve to reposition micro, small, and medium enterprises (MSMEs) as the foundation of Nigeria’s economic transformation.

Vice President Kashim Shettima, represented by the Special Adviser to the President on Economic Affairs, Dr. Tope Fasua, gave the assurance at the 6th Annual Lecture of the Development Bank of Nigeria (DBN) held in Abuja on Thursday.

Shettima noted that MSMEs account for more than 80 percent of national employment and contribute significantly to Nigeria’s GDP, making them central to President Bola Tinubu’s Renewed Hope Agenda.

‘MSMEs are not peripheral actors; they are the lifeblood of our economy. As government provides policy clarity and enabling infrastructure, institutions such as DBN are vital in turning vision into action,’ he said.

The Vice President highlighted key reform measures of the administration, including the removal of fuel subsidies, foreign exchange unification, infrastructure renewal, human capital investment, and stronger global engagement-all designed to stimulate enterprise, attract investment, and widen opportunities for small businesses.

DBN Managing Director/CEO, Dr. Tony Okpanachi, described the bank as more than a financier. He said DBN had become ‘a convener of ideas, a builder of capacity, and a partner in national transformation,’ stressing that Nigerian entrepreneurs can rise stronger with access to finance, knowledge, and enabling policies.

SMEDAN Director-General, Charles Odii, announced fresh strategies to boost the global competitiveness of Nigerian SMEs. These include regulatory reforms to ease exports, shared infrastructure such as garment hubs, financial and non-financial support for expansion, and innovative logistics partnerships.

‘These small but significant steps are designed to make our SMEs not only visible globally but also competitive,’ Odii said, noting Nigeria’s recent ‘Best Pavilion’ award at the International Africa Trade Fair as evidence of growing potential.

Keynote speaker, Kenyan entrepreneur Flora Mutahi, urged African businesses to scale deliberately as a way to address youth unemployment across the continent. With 10-12 million youths entering the labour market annually but only 3-4 million formal jobs available, she said entrepreneurship must be backed by resilience and determination.

At the end of the session, stakeholders, including policymakers, financiers, and entrepreneurs, agreed that the success of Nigeria’s economy is inseparably tied to the growth and sustainability of its MSMEs.

The Department of State Services, DSS, has arraigned controversial Nigerian activist and politician Omoyele Sowore to Court.

The politician was arraigned to the Federal High Court in Abuja on Tuesday, after making an alleged offending post against President Bola Ahmed Tinubu.

Sowore is being accused of making false posts about the President to cause a breakdown of law and order in the country.

‘This criminal @officialPBAT actually went to Brazil to state that there is no more corruption under his regime in Nigeria. What audacity to lie shamelessly!,’ he wrote on X.

The prosecution claims that the post is contrary to Section 24(2)(b) of the Cybercrimes Prohibition and Prevention Act 2024.

Sowore, however at the time of this report has over 20 lawyers representing him in the trial.

US President Donald Trump has set a strict three-to-four-day deadline for Hamas to respond to his 20-point peace plan aimed at ending the 23-month war in Gaza.

Speaking to reporters on the White House lawn, Trump said all other parties including Israel and Arab nations, have signed on, leaving Hamas as the last obstacle.

Trump warned that if Hamas rejects the proposal, ‘it’s going to be a very sad end,’ and pledged full US backing for Israel to act as it sees fit, without specifying the measures. ‘With Hamas, it’s very simple,’ he added. ‘We want the hostages back immediately and we want some good behaviour.’

The plan calls for a ceasefire, the release of hostages within 72 hours of an agreement, and a phased Israeli troop withdrawal. It also demands Hamas disarm-an element the group has previously rejected without guarantees of Palestinian statehood.

Qatar, which hosts the Hamas political bureau, said the group is studying the proposal responsibly, following Israeli Prime Minister Benjamin Netanyahu’s apology for a recent strike on Qatari soil. Netanyahu, who supports the plan, has insisted Israeli forces will remain in most of Gaza.

The US-backed initiative faces internal challenges. Key Israeli ministers, including far-right hardliner Bezalel Smotrich, have criticised it, calling the plan a ‘resounding diplomatic failure.’ Meanwhile, Palestinians in the West Bank have urged action, highlighting the urgency of the conflict.

The Edo State Executive Council has approved a revised supplementary budget for the 2025 fiscal year from ?675.220 billion to ?799.820 billion.

The approximately ?125 billion increment represents 18 percent jack-up of the budget.

The approval followed an emergency executive meeting held on Monday, September 29, 2025, and presided over by the State Governor, Monday Okpebholo.

The State Commissioner for Finance, Emmanuel Okoebor, while briefing journalists after the meeting, explained that the adjustment was necessitated by government’s commitment to infrastructure development.

He explained: ‘Previously we have a budget of ?675 billion with recurrent expenditure having about 33 percent and capital 67 percent. The new revised budget now has about 70 percent for capital expenditure as against 30 percent for recurrent expenditure. It shows the commitment of governor Monday Okpebholo in infrastructural development in Edo state.

‘The increment in the budget is about ?125 billion, which signifies about 18 percent of the previous budget. Recurrent increased with about ?12 billion, while capital is about ?113 billion from the previous one. Given about 25 percent increment in capital expenditure and just 5 percent increment in recurrent expenditure.

‘It clearly shows that the government is concerned about infrastructural development making Edo people happy. We have done about 254 kilometers of road across the state, and many more construction works are ongoing.

‘Recurrent expenditure has about 5 percent increment as the increase in minimum wage necessitated that increment including a lot of employment the present administration did in hospital management board for over 1000 and it needs to be captured.

‘The budget has been increased by ?125 billion, which is about 18 percent, and capita expenditure about 25 percent increment, from ?450 billion to ?563 billion.’

The revised budget is expected to be forwarded to the State House of Assembly for legislative consideration and passage.

Nigerian comedian and actor Bovi Ugboma, has opened up on his relationship with fellow colleague, Bright Okpocha, also known as Basketmouth.

While speaking in an interview, Bovi explained that there is no ongoing feud or rift between them, stating that hey both just drifted apart.

Bovi further explained that there was a shift in his focus, which led him to invest in other interests and his family.

‘I’m cool with Basketmouth, nothing happened. I’ve answered this question before. You get what I’m saying. Interests changed, especially for me. You know, I wanted to focus more, spend more time with my family. I wanted to also elevate myself. I easily get bored with things. So when I’m doing something for too long, I try to do something else,’ he stated.

Bovi also explained the need for independence. He revealed that he wanted to be able to grow professionally and financially as an independent creator.

‘So as you know, I started to do films. I went back to TV, and then I wanted to build my own brand in the sense that I needed people. I needed the world to know that I can stand with the mic endlessly by myself and talk. You know, also, there’s the, I also started to think of stuff like when I blow the whistle and say, I’m having an Eko hotel, it fills up. So why should I go and share money? Why should we be many doing one show? And then I guess I can keep all the money myself,’ he added.

The South African Football Association (SAFA) has strongly condemned FIFA’s decision to deduct three points from its tally in the ongoing 2026 FIFA World Cup qualifying campaign, describing the move as unfair and without precedent.

In a statement issued on Monday, the association expressed shock and disappointment, insisting that it was not given the opportunity to defend itself before the disciplinary ruling was handed down.

According to SAFA, the decision was reached by a single member of FIFA’s disciplinary committee and came without a clear explanation or justification.

‘We are deeply concerned by this development. It is unprecedented that such a weighty decision was made without affording us the chance to present our legal arguments,’ the association noted.

FIFA had earlier confirmed the much-anticipated sanction, cutting South Africa’s total from 17 points. The ruling has thrown Group standings into uncertainty and sparked debate among fans and stakeholders across the continent.

SAFA stressed that it will continue to pursue all available legal and diplomatic avenues to challenge the ruling, which it says undermines the principles of fair play and natural justice.

‘As custodians of South African football, we cannot stand by while decisions of this magnitude are imposed on us without transparency,’ the statement added.

The development has cast a shadow over Bafana Bafana’s qualifying campaign and raised questions about FIFA’s disciplinary processes, with analysts warning that the dispute could escalate if not swiftly resolved.

The Nigerian Education Loan Fund (NELFUND) has announced that its application portal for the 2025/2026 academic session will open in the second week of October 2025, providing fresh opportunities for students to access the government’s interest-free loan scheme.

The Fund explained that the new application cycle will remain open until January 2026, giving prospective beneficiaries ample time to complete their submissions.

NELFUND also urged institutions to promptly update student records on the Student Verification System (SVS) to enable seamless processing of applications.

The development follows the closure of the 2024/2025 portal on September 30, 2025, marking the end of the scheme’s second full cycle.

According to NELFUND, all unverified applications from the outgoing session will be automatically cancelled after October 8, 2025, with affected students required to reapply under the new cycle.

Managing Director/Chief Executive Officer of NELFUND, Mr. Akintunde Sawyerr, said the timelines were designed to provide clarity and ensure no eligible student is excluded.

‘Announcing the closure of the current application portal is a necessary step to prepare for the next cycle. NELFUND remains committed to removing financial barriers for students and to working with institutions to ensure that no eligible student is left behind,’ Sawyerr stated.

He also assured that upkeep payments for students under the 2024/2025 session would continue until November 2025, but stressed that all students must reapply for the 2025/2026 cycle to remain eligible.

Institutions that fail to complete mandatory verification of student lists by the deadline will be named publicly for non-compliance, NELFUND warned.

The Fund advised students to maintain close contact with their school management and submit their applications early, emphasising that transparency and institutional cooperation remain central to the success of the scheme.

Lagos State has stepped up its drive to recover outstanding revenues and taxes, with Attorney General and Commissioner for Justice, Mr. Lawal Pedro (SAN), revealing that the state recently secured ?1.5 billion from a defaulting bank.

Pedro, who disclosed this on Tuesday during a press briefing to mark his second year in office, said the recovery was part of wider reforms to strengthen fiscal governance through the rule of law.

He explained that Lagos had established dedicated Revenue Courts at both the High Court and Magistrate levels, alongside a Revenue Recovery Unit (RRU), to fast-track enforcement actions against individuals and organisations failing to meet their tax obligations.

‘Many companies have responded to our pre-action protocol notices and have started paying or made arrangements to pay their outstanding tax liabilities,’ Pedro said.

‘One of the notable banks facing our enforcement process paid the sum of ?1.5 billion in outstanding taxes. Other banks are already making efforts to settle their outstanding tax liabilities to avoid sanctions,’ he disclosed.

He cautioned residents and corporate organisations still in default to settle their obligations promptly, especially now that courts had resumed from vacation.

‘This firm but fair approach to the recovery of taxes and revenue underscores our determination to ensure that money due to Lagos State is recovered lawfully, so as to boost the State’s capacity to deliver critical services to our people,’ the Attorney General added.

The Lagos State Police Command on Tuesday arraigned Samsideen Oladiti, 55, a prominent member of the National Union of Road Transport Workers (NURTW) popularly known as Shamelon, over the alleged murder of a dispatch rider.

Oladiti appeared before Ebute Metta Magistrate Court 2 following his arrest over assault and murder allegations.

According to the Lagos State Police Command’s Deputy Public Relations Officer, Babaseyi Oluseyi, Oladiti allegedly attacked a dispatch rider on Lagos Island on September 17, 2025, using a helmet and his fists, inflicting serious injuries. The victim was rushed to the hospital, placed on oxygen, and is currently receiving medical treatment.

Oluseyi added that the suspect had been linked to a prior violent incident on August 28, which also resulted in the death of another man. In that case, Oladiti allegedly struck the victim with a metallic ring to the head and face, causing severe injuries. Despite medical intervention, the victim was pronounced dead on September 17, and the body was deposited in the mortuary for autopsy.

The arraignment follows protests by sympathizers of the deceased at Sandgrouse Market, Lagos Island, where two of Oladiti’s motorcycles were set ablaze, escalating tensions in the area.

The state Commissioner of Police, Olohundare Jimoh, personally responded to the unrest, ensuring order while the suspect was taken into custody.

Oladiti faces further investigation and prosecution as the Lagos State Police continue to probe his alleged involvement in violent crimes across the island.

The Nigeria Customs Service (NCS) on Tuesday handed over donkey bones and skins worth over ?3.94 billion impounded from smugglers to the National Environmental Standards and Regulations Enforcement Agency (NESREA) in Kaduna.

Area Controller, Federal Operations Unit (FOU) Zone B, Kaduna, Mr Aminu Sule, handed over the confiscated animal parts to the NESREA State Coordinator, Mr. Hene Emmanuel.

The items handed over include 700 bags of donkey bones valued at ?1.86 billion and 2,500 pieces of donkey skins valued at ?2.07 billion.

The donkey parts were intercepted in separate operations by the operatives of the Federal Operations Unit (FOU) Zone B unit.

Speaking at the event, Sule decried the illegal trade in donkey parts, warning that it posed serious ecological and socio-economic risks.

‘Donkeys are essential to rural communities as a source of livelihood and transport. Their indiscriminate slaughter threatens sustainable development,’ he said.

Sule emphasised the commitment of the NCS to enforcing environmental protection laws and curbing wildlife crimes, stating that FOU Zone B would not allow Nigeria to become a hub for illegal wildlife trade.

‘This seizure is a clear warning to traffickers: FOU Zone B will not relent in the fight against environmental crime,’ he added.

The Customs boss highlighted that the operation and successful handover were the outcomes of improved inter-agency cooperation, in line with the Comptroller-General of Customs, Bashir Adeniyi’s ‘Three-Point Agenda of Collaboration, Consolidation, and Innovation’.

He praised the dedication of his officers and partner agencies even as he called for increased support from the public, especially transporters, warehouse operators, and traders to report suspicious activities linked to wildlife trafficking.

Also speaking, NESREA’s State Coordinator, Mr Hene Emmanuel, commended the Customs service for its vigilance and expressed the agency’s commitment to ensuring proper environmental compliance and protection of endangered species.

Illegal trade in donkey parts, especially skins and bones, has been on the rise in recent years due to growing demand in parts of Asia.