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Business News

Stakeholder explains why FG should come up with MSME development plan 

A non-government organisation (NGO), Sustainable Entrepreneurship and Economic Development Initiative (SEEDi) has urged the Federal Government to produce a Micro, Small and Medium Enterprises (MSMEs) development plan in Nigeria.

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MSME's, Development plan, Guaranteed return

A Non-governmental Organisation (NGO), Sustainable Entrepreneurship and Economic Development Initiative (SEEDi) has urged the Federal Government to produce a Micro, Small and Medium Enterprises (MSMEs) development plan in Nigeria.

The Lead Partner of SEEDi, Celestine Okeke, during the World MSMEs Day celebration stated that the plan would be of immense benefit to small businesses.

Reasons explained: Okeke stated that the challenges MSMEs face include unavailability of non-financial services, high cost of doing business, multiple taxation, stifling business ecosystem and reducing purchasing power of the average Nigerian.

He said the MSME development plan being advocated for should take into consideration, the peculiarities of doing business for small businesses across sectors of the Nigerian economy, the challenges small businesses face, and more importantly, how to surmount them.

Okeke added that the government should without delay, direct its Ministries, Department and Agencies (MDAs) saddled with the responsibilities of promoting small businesses to begin the process of producing an MSME development plan.

[READ ALSO: Kwara innovation hubs to create 2,000 jobs]

“While we acknowledge and appreciate that small businesses need finance to sustain and or scale up their enterprises, we want to restate that the fundamentals of starting, sustaining and scaling up small business enterprises transcend beyond mere access to finance.

“As we mark the World MSMEs Day, it is our hope that the present administration will take more interest in supporting MSMEs to thrive by improving the ecosystem they operate in, enable them to better their enterprises and then, support them to access finance after mastering the act of business best practices,” he said.

The UN General Assembly declared the World MSMEs Day in recognition of the MSMEs in promoting innovation, creativity and decent work for all the achieving goals of 2030 agenda for Sustainable Development Goals (SDGs).

It is pertinent to note that if the Micro, Small and Medium Enterprise (MSME) Development Plan is drawn for MSME’s it will lead to growth and advancement in the MSME sector. This will in turn contribute to the economy in terms of output of goods and services as well as creation of jobs at relatively low capital cost.

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

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Corporate Press Releases

Konga launches revolutionary membership programme, Konga Prime

Konga Prime puts money back into the pockets of subscribers by helping them make great savings.

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Konga, Nigeria’s leading composite e-Commerce giant, has rolled out Konga Prime, a revolutionary membership programme, with a lot of benefits for shoppers.

Konga Prime members enjoy unlimited free shipping, have access to exclusive offers and early bird deals, among others.

The incentives-filled loyalty programme went live on Monday March 1st, 2021.

Specifically, Konga Prime brings together a suite of exciting benefits which delivers great value to subscribers, helping them enjoy exclusive deals and other incentives such as faster deliveries of their orders. In addition, Konga Prime puts money back into the pockets of subscribers by helping them make great savings, incomparable to that offered by any other retail platform.

Furthermore, members of Konga Prime including busy individuals and families get to enjoy premium access to the full range of Konga’s cutting-edge assets. Among these are its powerful e-Commerce engine and online presence as well as the nationwide reach of a growing list of over 31 stores spread across the nooks and crannies of Nigeria. With this, Konga Prime members can take advantage of nationwide delivery of their items as fast as the next day.
Also, members have the added incentive of unlimited free delivery from Konga.com and access to discounts that make shopping faster and cheaper for all categories of shoppers.

Interested subscribers can sign up for Konga Prime here: https://www.konga.com/konga-prime Membership of Konga Prime is available to all customers, effective March 1st, 2021, beginning with Lagos and Abuja, the Federal Capital Territory (FCT). Equally important, Konga is currently offering specially discounted rates for interested subscribers to sign up for Konga Prime. In other words, subscription rates for Konga Prime membership have been slashed by as much as 50% for early bird subscribers.

In Lagos, membership of Konga Prime is currently up for N1,000 a month, as against N2,000 and N2,490 for three months, instead of N4,950 along with a 7-day free trial period. For Abuja, membership rates presently stand at N1,290 a month, as opposed to N2,500 and N3,490 for three months, instead of N6,950.

Meanwhile, the Konga Prime rollout is set to be extended to other states soon.

Vice President, Konga Online, Kenny Oriola, says the initiative is one that will deliver great value for members, including exclusive access to a growing list of special offers. These include unlimited free delivery, early access to exclusive deals as well as partner benefits and rewards.

“This initiative was implemented to provide a platform that allows our esteemed customers enjoy great value, including having their orders delivered to their preferred location for free. Saving time and money is not just the end goal here, but having access to exclusive deals, and mouth-watering discounts on special products also makes this service one to subscribe to.

‘‘Today, we kick-off this initiative in Lagos and Abuja. Subsequently, other states across the country will benefit from this service. We urge all interested subscribers to take advantage of the ongoing discounted rates to sign up for this value-adding programme,’’ he disclosed.

Further, Oriola submits that in the future, Konga will leverage its wide-ranging assets to add additional benefits for members in a variety of services and offerings, adding that the list of benefits will continue to grow over time.

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Energy

Nigeria breaks transmission record again, hitting 5,801.60 MW

The TCN has broken its own transmission record three times in the space of a week.

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FG set to create at least 5 million jobs for youths in the power sector – Minister of Power , Consortium of Western investors to inject upwards of $5 billion in Nigeria's renewable energy sector, Power: Nigeria's deal with Siemens - the birth of a new era?

The Transmission Company of Nigeria announced another record, as grid transmission hits a peak of  5801.60 MW.

This was disclosed by the Minister of Power, Engineer Sale Mamman in a statement on Tuesday evening.

“Back-to-Back Peak Transmission, Yesterday, 1st of March at 9:30 pm, we hit a new HIGH,” he said.

He added that 5801.60 MW transmitted at a frequency of 50.09 hz.

“Next Level heights for the Power Sector. Kudos to all at the TCN & MoP striving towards stable energy for Nigerians,” he added.

In case you missed it 

  • Nairametrics reported yesterday that the Transmission Company of Nigeria (TCN) announced that it hit another record milestone on transmission, as it recorded a national peak of 5,615.40MW.
  • On March 1st that the TCN announced it has broken its transmission record once again, after hitting a record of 5,584.40 MW.

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