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The Federal Government is set to initiate cash transfers aimed at assisting 20 million poor Nigerians. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has stated that the rise in Nigeria’s revenue for the 2024 fiscal year is being thoughtfully distributed across several social intervention programs designed to enhance the quality of life for citizens and tackle urgent societal challenges. The minister announced that the social investment program aims to benefit 60 percent of the most disadvantaged individuals, impacting approximately 20 million people. “In terms of revenue, the number one place to look was inwards, domestic resource mobilisation. That’s where the government started. By the first half of this year, revenue had doubled. “Aggregate government revenue was more than doubled. And that was achieved by applying technology very robustly. “We have applied technology in a way that essentially reforms the civil service. Rather than waiting for compliance from government ministries, departments and agencies and government companies, we looked at what the rules and regulations were, how much a company was allowed to spend on its revenue, and then how much of its surplus it had to provide to government. “The social investment programme is spearheaded by direct transfers to reach 60 per cent poorest in the population. And right now, 20 million households are being supported directly. And it’s going to rise to, well, 20 million people, four million households so far, and it will rise to 15 million households who will be paid directly by the government. “That is how President Tinubu’s government is spending the money which is being yielded from better oil production.”

The DSS steps in to address the conflict between NNPCL and oil marketers. The NNPC has granted approval for oil marketers, operating under the Independent Petroleum Marketers Association of Nigeria, to begin lifting petrol from its depot at a reduced price. The Nigerian Midstream and Downstream Petroleum Regulatory Authority has pledged to grant import and off-taker licenses to oil dealers. This will enable them to import fuel directly or acquire products directly from the Dangote Refinery, in accordance with the government's strategy to completely deregulate the oil sector. During a recent peace meeting facilitated by Adeola Ajayi, the Director General of the Department of State Services, a new agreement has been established. Under this agreement, the national oil company has authorized the loading of products to settle the N15 billion debt owed to the marketers. Chinedu Ukadike, the National Publicity Secretary of IPMAN said, “We were invited by the Director of the Department of State Services to resolve the ongoing issue between the association and the NNPCL. “The meeting was on the non-compliance of selling PMS to IPMAN by Dangote Refinery and the problem we are having with NNPCL in terms of pricing. Based on this, the director of DSS invited us and brokered peace. “Among what was agreed upon after a meditation process led by our National President Abubakar Maigandi, NNPCL has agreed to make some reductions and allow independent marketers to load out those tickets that amount to N15bn immediately.”

A faction of the NWC of the PDP has announced the suspension of the acting National Chairman, Umar Damagum, and National Secretary, Samuel Anyanwu, citing accusations of disloyalty to the party. Earlier, a faction within the NWC that loyal to Damagum declared the suspension of Kamaldeen Ajibade, the National Legal Adviser, and Debo Ologunagba, the National Publicity Secretary, citing accusations of disloyalty to the party. Ologunagba revealed in a statement on Friday the suspension of Damagum and Anyanwu. He said, “The National Working Committee (NWC) of the PDP has extensively considered the series of complaints raised against the Acting National Chairman, Amb. Illiya Damagum and National Secretary, Sen. Samuel Anyanwu particularly with regard to the letter addressed by them to the Court of Appeal in Appeal No:CA/PH/307/2024 against the party’s position in the case involving the 27 former members of the Rivers State House of Assembly who vacated their seats upon decamping from the PDP to the All Progressives Congress (APC). “The NWC condemned this anti-party activity of the Acting National Chairman and the National Secretary which is in gross violation of the provisions of the PDP Constitution (as amended in 2017) and their Oath of Office. “Consequently, the NWC, pursuant to Sections 57, 58 and 59 of the PDP Constitution, has suspended Amb. Illiya Damagum and Sen. Samuel Anyanwu as Acting National Chairman and National Secretary of the Party respectively and referred them to the National Disciplinary Committee for further action. “In the meantime, the two officials are suspended from all meetings, activities and programs of the NWC pending the conclusion of an investigation by the National Disciplinary Committee.” Meanwhile, In a statement released in the early hours of Friday, Chinwe Nnorom, the National Director of Publicity for the PDP, announced the suspension of Kamaldeen Ajibade, the National Legal Adviser, and Debo Ologunagba, the National Publicity Secretary. Nnorom also informed that the party has formed a committee, chaired by Deputy National Chairman (South) Taofeek Arapaja, to address and investigate the concerns that have been raised regarding these individuals. He said, “The National Working Committee (NWC) of the Peoples Democratic Party (PDP) arising from its 593rd Meeting today, Thurday, October 10, 2024, has directed the National Publicity Secretary (NPS), Hon Debo Ologunagba and National Legal Adviser (NLA), Kamaldeen Adeyemi Ajibade, SAN, to step aside “As a result, the NWC constituted a committee to be chaired by the Deputy National Chairman (South) H.E. Amb. Taofeek Arapaja, to investigate the issues raised against the officers in compliance with the provisions of the Constitution of the Party “Following the NWC’s Decision, it directed their respective deputies (DNPS and DNLA) to assume office in acting capacity with effect from Friday, October 11, 2014, pending the conclusion of investigation by the Committee. The officers are: “Ibrahim Abdullahi Manga, Acting National Publicity Secretary and . Okechukwu Osuoha, Acting National Legal Adviser “The NWC enjoins all leaders, critical stakeholders, teeming members and supporters of our great Party to remain focused and committed as it pilots the day-to-day affairs of the PDP for its greater good.”

SMEDAN set to host 2024 National MSME Conference The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the 2024 edition of the National MSME Conference, themed “GROW NIGERIAN: Sustaining an Innovation and Digital-Driven Economy.” The event, the nation’s leading annual development conference, will be opened by the President, His Excellency President Bola Ahmed Tinubu GCFR. It will take place from October 3rd to 5th, 2024, at the Banquet Hall, Presidential Villa, Abuja, with support from the German International Agency (GIZ) and Mastercard. Mr. Charles Odii, Director-General/CEO of SMEDAN, described the event as the most significant convergence of entrepreneurs, policymakers, enablers, public-private sector stakeholders, and supporting institutions in Nigeria’s SME ecosystem. The conference will focus on driving development in the MSME sector within the eight key sectors identified in the GROW Nigerian strategy introduced by Director-General Charles Odii to strengthen Nigeria’s local production potential and raise export revenue. This will be achieved through the provision of Guidance, Opportunities, Resources, and Workforce Support to SMEs by SMEDAN. The sectors include agriculture, light manufacturing, fashion, creative and entertainment, digital and innovation, tourism, and education. Nigeria’s most successful entrepreneurs and renowned experts have confirmed their attendance at the event. They include Tony Elumelu, Chairman of Heirs Holdings; Hakeem Belo-Osagie, Chairman of Metis Capital Partners; and Jonathan Ortmans, Founder and President of the Global Entrepreneurship Network (GEN). A key highlight of the event is the planned premiere of the second season of the popular drama series The Smart Money Woman by Arese Ugwu, who will attend the conference with co-stars such as Timini Egbuson and Osas Ighodaro. The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the 2024 edition of the National MSME Conference, themed “GROW NIGERIAN: Sustaining an Innovation and Digital-Driven Economy.” The event, the nation’s leading annual development conference, will be opened by the President, His Excellency President Bola Ahmed Tinubu GCFR. It will take place from October 3rd to 5th, 2024, at the Banquet Hall, Presidential Villa, Abuja, with support from the German International Agency (GIZ) and Mastercard. Mr. Charles Odii, Director-General/CEO of SMEDAN, described the event as the most significant convergence of entrepreneurs, policymakers, enablers, public-private sector stakeholders, and supporting institutions in Nigeria’s SME ecosystem. The conference will focus on driving development in the MSME sector within the eight key sectors identified in the GROW Nigerian strategy introduced by Director-General Charles Odii to strengthen Nigeria’s local production potential and raise export revenue. This will be achieved through the provision of Guidance, Opportunities, Resources, and Workforce Support to SMEs by SMEDAN. The sectors include agriculture, light manufacturing, fashion, creative and entertainment, digital and innovation, tourism, and education. Conference activities will include one-stop shops featuring heads of government agencies and financial and compliance organizations, such as NAFDAC, CAC, SON, Nigeria Customs, BOI, NEXIM, NEPC, NIPC, FIRS, and more. There will also be an exhibition showcasing innovative products and services from SMEs across the country. Participating businesses will receive expert advice and guidance at a Business Clinic, interacting with agencies and institutions to address structural issues and challenges. Prominent thought leaders, including Chude Jideonwo, the Co-founder of Red Media and Joy Inc., will lead masterclasses focused on digital skills development, accessing finance, business scaling, and leveraging trade agreements such as AGOA and AfCFTA. Additional activities will include a deals room where scalable businesses will obtain investments from venture capital firms; a pitch competition for entrepreneurs to showcase their ideas and receive funding; and networking events to facilitate connections and partnerships. The conference will conclude with an award ceremony led by the Vice President, His Excellency Senator Kashim Shettima, on the final day. Government actors from across the six regions will be recognized for their contributions to SME development through reforms, financial investments, targeted infrastructure, and other developmental contributions. Interested participants can register to attend the event at https://www.smedan.gov.ng/msmeconference.

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NCC Sets September 14, 2024, as Final Deadline for Compliance with NIN-SIM Linkage. In statement released by Reuben Muoka, NCC Director, Public Affairs. He stated, “The Nigerian Communications Commission (NCC) is pleased to announce significant progress in the Federal Government’s 2020 policy to link all Subscriber Identification Modules (SIMs) to National Identity Numbers (NINs). To date, over 153 million SIMs have been successfully linked to a NIN, reflecting an impressive compliance rate of 96 per cent, a substantial increase from 69.7 per cent in January 2024. “As we approach the final phase of this critical process, the NCC seeks the continued cooperation of all Nigerians to achieve 100 per cent compliance. The complete linkage of all SIM cards to NINs is essential for enhancing the trust and security of our digital economy. By verifying all mobile users, this policy strengthens confidence in digital transactions, reduces the risk of fraud and cybercrime, and supports greater participation in e-commerce, digital banking, and mobile money services. This, in turn, promotes financial inclusion and drives economic growth. “Through collaboration with the Office of the National Security Adviser (ONSA) and the National Identity Management Commission (NIMC), the NCC has uncovered alarming cases where individuals possessed an unusually high number of SIM cards—some exceeding 100,000. The Commission also remains committed to working with security agencies and other stakeholders to crack down on the sale of pre-registered SIMs, thereby safeguarding national security and ensuring the integrity of mobile numbers in Nigeria. “To ensure full compliance with the NIN-SIM linkage policy, the NCC has directed all Mobile Network Operators (MNOs) to complete the mandatory verification and linkage of SIMs to NINs by September 14, 2024. “Effective September 15, 2024, the Commission expects that no SIM operating in Nigeria will be without a valid NIN. “We urge all members of the public who have not yet completed their NIN-SIM linkage or who have faced issues due to verification mismatches to visit their service providers promptly to update their details before the deadline. Alternatively, the approved self-service portals are available for this purpose. “The NCC also reminds the public that the sale and purchase of pre-registered SIMs are criminal offences punishable by imprisonment and fines. We encourage citizens to report any such activities to the Commission via our toll-free line (622) or through our social media platforms. “The Commission thanks the general public for its continued cooperation as we work together to strengthen Nigeria’s digital ecosystem.”

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