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Nigeria’s SMEs: Resilient, Essential And In Need Of The Right Partners

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By Aderonke Oluwadare Nigeria’s micro, small and medium sized enterprises remain central to the country’s economic growth, employment and household incomes. According to the NBS and SMEDAN MSME 2021 survey, as cited in PwC Nigeria’s MSME Survey 2024, MSMEs account for 96.9 per cent of businesses, 87.9 per cent of employment, 46.32 per cent of gross domestic product and 6.21 per cent of exports. These figures underline the importance of Nigerian SMEs to job creation, innovation and inclusive economic development. They also explain why the health of the sector should command the attention of policymakers, financial institutions and investors. PwC’s report confirms the figures and identifies MSMEs as an important part of Nigeria’s economic fortunes. The operating environment nevertheless remains difficult. Entrepreneurs continue to contend with elevated input costs, exchange rate volatility, infrastructure constraints and pressure on consumer purchasing power. PwC’s MSME Survey 2024, whic...
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'This Is Unprecedented’ — Ex-LG Office Holders Hail Ogun as State Clears ₦3.5bn Severance

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Former political office-holders in Ogun State’s 20 local government councils and Local Council Development Areas (LCDAs) have hailed the state government for clearing ₦3.503 billion in outstanding severance allowances owed them. The beneficiaries spoke on Tuesday during the presentation of cheques at the Oba’s Complex, Oke-Mosan, Abeokuta, describing the payment as a demonstration of the government’s commitment to good governance and the welfare of political office-holders. The beneficiaries, who served between 2016 and 2024, include former chairmen, vice-chairmen, secretaries to local governments, supervisors, special advisers and councillors. In a statement signed by the Special Adviser on Media and Strategy to Governor Dapo Abiodun, Hon. Kayode Akinmade, the government said the payment totalled ₦3,503,489,479.56. Akinmade said the outstanding liabilities covered 526 former political office-holders from the 2016–2019 tenure and 516 from the 2020–2024 tenure. He said the settlement re...
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Nigeria’s SMEs: Resilient, Essential And In Need Of The Right Partners

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By Aderonke Oluwadare Nigeria’s micro, small and medium sized enterprises remain central to the country’s economic growth, employment and household incomes. According to the NBS and SMEDAN MSME 2021 survey, as cited in PwC Nigeria’s MSME Survey 2024, MSMEs account for 96.9 per cent of businesses, 87.9 per cent of employment, 46.32 per cent of gross domestic product and 6.21 per cent of exports. These figures underline the importance of Nigerian SMEs to job creation, innovation and inclusive economic development. They also explain why the health of the sector should command the attention of policymakers, financial institutions and investors. PwC’s report confirms the figures and identifies MSMEs as an important part of Nigeria’s economic fortunes. The operating environment nevertheless remains difficult. Entrepreneurs continue to contend with elevated input costs, exchange rate volatility, infrastructure constraints and pressure on consumer purchasing power. PwC’s MSME Survey 2024, whic...
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World Teachers' Day: Abiodun Employs 7,000 Teachers, Commits N24Bn To Education Infrastructure …Rewards Outstanding Teachers, Schools, Administrators with Over ₦51m; Absorbs 1,500+ OgunTEACh Interns

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The Ogun State Government has announced the employment of over 7,000 teachers since the inception of the Prince Dapo Abiodun administration, as part of its sustained investment in strengthening teaching and learning across the state. The government has also earmarked ₦24 billion through the State Universal Basic Education Board (SUBEB) for the provision and rehabilitation of critical education infrastructure, while over ₦51 million was presented in cash prizes to outstanding teachers, schools and administrators at the 2026 World Teachers’ Day celebration in Abeokuta. Speaking at the celebration, held at the Cultural Centre, Kuto, Abeokuta, Governor Abiodun, represented by the Secretary to the State Government, Mr Tokunbo Talabi, said his administration recognised teachers as the foundation upon which every other profession and society was built. “Before a doctor learns to treat patients or an engineer designs a bridge, a teacher has awakened their minds and laid the foundation they are...
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Ogun Woos Global Investors, Development Partners At 81st UNGA Side Event

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Ogun State has taken its investment pitch to the global stage, wooing international investors and development partners with its expanding industrial base, strategic infrastructure, agricultural potential and business-friendly reforms at a high-level side event on the margins of the 81st United Nations General Assembly (UNGA) in New York, United States. Representing the State at the engagement, the Special Adviser to the Governor on Development Partners Coordination, Dr. Bayo Adenekan, said that Ogun was strategically positioned to attract increased domestic and international investment, citing its growing industrial clusters, infrastructure development, agricultural opportunities and economic reforms under the administration of Governor Dapo Abiodun. Adenekan said the State was seeking stronger partnerships to unlock opportunities in agriculture, infrastructure, innovation, climate and green financing, youth empowerment and artificial intelligence, among other priority sectors. He said...
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Omosehin: NAICOM's Recapitalisation That Puts Policyholders First

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By Abua Hunde ‎ ‎For years, Nigeria’s insurance industry has occupied an uncomfortable position in the national economy. Its importance has never been in doubt, yet its enormous potential has remained largely untapped because of weak public confidence, low penetration, concerns over claims settlement and the limited financial capacity of some operators. But since his appointment as Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM) in 2024, Olusegun Ayo Omosehin has brought a renewed sense of purpose to the regulation and repositioning of the sector. ‎ ‎Omosehin did not come to NAICOM as a stranger to the insurance business. With more than three decades of experience, he has worked across different segments of the industry and occupied senior leadership positions at Crusader Insurance, Custodian & Allied, Admiral Insurance, AIICO General Insurance, Mutual Benefits Assurance and Old Mutual Nigeria Life Assurance. ‎ ‎He also served as...
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Legal Storm Gathers Over Victoria Island High-Rise linked to Former Lagos Governorship Candidate Dr. Samuel Ajose as Landowner Terminates JV and Takes Control

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  What began as a Joint Venture for a high-rise development in Victoria Island has reportedly escalated into a major legal dispute, following the Landowner’s termination of the JV over a fundamental breach by the developer, Levitikal Construction Limited and subsequent move to reclaim possession of the property linked to former Lagos governorship aspirant Dr. Samuel Mawuyon Ajose and Levitikal.  The dispute has reportedly spilled into multiple court proceedings including in Suit No: FHC/LAG/CS/1245/2026 instituted at the Federal High Court, Lagos, arbitration and EFCC investigations. Interestingly, the property had also previously been sealed by the EFCC amid EFCC probe, raising fresh questions about its legal and commercial status.  The latest development leaves prospective buyers and investors with critical questions: Is  it safe to invest in a project riddled with multiple court cases? The legal battle appears far from over. For prospective buyers, the warning is ...
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