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FG BEGINS DISBURSEMENT OF N200BN PALLIATIVE LOANS

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The Ministry of Industry, Trade and Investment has commenced the disbursement of the Presidential Conditional Grant Scheme to verified applicants following a thorough selection process.

The government, in collaboration with the Bank of Industry, is set to disburse three categories of funding totaling N200 billion to support manufacturers and businesses nationwide.

In a recent progress report shared on the trade minister’s official social media handle, Doris Aniete announced that an unspecified number of beneficiaries have already received their grants.

Additionally, she stated that another significant disbursement will be made to a substantial number of verified applicants by Friday, April 19.

“We are pleased to announce that the disbursement process for the Presidential Conditional Grant Programme has officially begun. Some beneficiaries have already received their grants, marking the start of our phased disbursement strategy,” she said.

She further explained, “By Friday, 19th April 2024, a significant disbursement will be made to a substantial number of verified applicants.

It is important to note that disbursements are ongoing, and not all applicants will receive their grants on this initial date. However, all verified applicants will eventually receive their grants in subsequent phases.”

This development comes more than eight months after President Bola Tinubu announced the grant for manufacturers and small businesses and two weeks after applicants were required to submit their National Identification Numbers as part of the grant requirements to mitigate the impact of recent economic reforms on businesses in the country.

In his address, President Tinubu expressed his determination to strengthen the manufacturing sector, increase its capacity for expansion, and create well-paying jobs.

“We are set to spend N75 billion between July 2023 and March 2024. Our goal is to fund 75 enterprises with great potential to kick-start sustainable economic growth, accelerate structural transformation, and improve productivity,” he stated.

Under the programme, each of the 75 selected manufacturing enterprises will have access to N1 billion credit at an interest rate of 9 per cent per annum, with a maximum repayment period of 60 months for long-term loans and 12 months for working capital.

Despite the programme’s multiple delays and complex registration process, which have drawn criticism from prospective beneficiaries, the government remains committed to supporting businesses and driving economic growth.

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ONDO 2024: “APC WOMEN ’LL DELIVER 1 MILLION VOTES FOR AIYEDATIWA,” SAYS FAGBEMI

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ONDO 2024: “APC WOMEN ’LL DELIVER 1 MILLION VOTES FOR AIYEDATIWA,” SAYS FAGBEMI

Deaconess Hon. Omolola Fagbemi, Chairman of the All Progressives Congress (APC) Women Campaign Committee and Commissioner for Women Affairs, has pledged to deliver 1 million votes from the party’s women’s wing for Governor Lucky Orimisan Aiyedatiwa in the upcoming Ondo State governorship election on November 16, 2024.

During the inauguration of the APC Women Campaign Committee, Fagbemi emphasized the pivotal role of women in determining the state’s future. 

She urged committee members and women across Ondo State to mobilize aggressively to ensure a strong turnout in support of the APC candidate.

“We must engage in widespread mobilization and educate women across the state on the need to remain committed to an APC-led government. November 16 is our date with destiny; we cannot afford a setback.”Fagbemi stated

Speaking on  Governor Aiyedatiwa’s achievements, Fagbemi noted that the governor has improved the education, infrastructure, healthcare, and industrialization sectors, urging women to back APC for continuity. 

“This election is not just about today; it’s about securing the future for our children and grandchildren,” she said.

Assuring the governor of the women’s unwavering support, Fagbemi set a goal of 1 million votes from the women’s wing, encouraging them to rally their families and communities. She stressed the importance of women’s votes in shaping Ondo State’s future.

The event, attended by party leaders, women’s groups, and key stakeholders, launched a strategic campaign to ensure Governor Aiyedatiwa’s re-election. 

With less than a month until the election, the APC Women Campaign Committee has committed to a tireless effort to secure victory.

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RUMBLES IN REPS: INTEGRITY GROUP MOVES AGAINST SPEAKER, ABBAS

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RUMBLES IN REPS: INTEGRITY GROUP MOVES AGAINST SPEAKER, ABBAS

A clandestine plot to impeach the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas is reportedly in motion, it was learnt on Monday.

Sources exclusively revealed that the secret plan is believed to be backed by powerful political figures, and could shake the National Assembly if successful.

According to highly placed insiders, a wealthy member of the House of Representatives from the North, along with an opposition governor from the southern region, are spearheading this move.

Both political heavyweights are said to be funding the operation, which is being coordinated by a prominent member of the opposition party within the House.

The opposition Rep, who is said to be the main strategist of the plot, is reportedly operating under the guise of a faction called the “Integrity Group.”

It was gathered that this group has been gathering momentum, with sources confirming that 60 lawmakers have allegedly signed on to the impeachment move.

These lawmakers, portraying themselves as defenders of the masses, are said to be aggrieved over what they described as Speaker Abbas’ “collusion with the executive branch” to dominate the legislative arm.

“The Integrity Group believes that the Speaker has aligned too closely with the executive, to the detriment of the House’s independence. They feel that Abbas is acting as an extension of the Presidency rather than an autonomous leader of the legislative arm.

“They are frustrated that Speaker Tajudeen Abbas and Senate President Godswill Akpabio are undermining the National Assembly’s efforts to investigate the Executive over the poor implementation of the 2024 budget, which they claim has achieved less than 30 percent performance. According to them, this failure is a key reason why Nigerians are facing hardships today”, a source said.

However, the plot may not be purely about institutional autonomy. Another source disclosed that beyond internal discontent in the House, a powerful cabal within the Presidential Villa is allegedly backing the impeachment move.

A source in the Presidency disclosed the powerful figure in the Villa is supporting Abbas’s impeachment plot because the said cabal is at loggerheads with the President’s Chief of Staff, Rt. Hon. Femi Gbajabiamila, who was instrumental in securing Abbas’ election as Speaker.

“There’s no doubt that this is not just about legislative independence. There’s a personal element involved as well, particularly when you consider the strained ties between this powerful figure in the Villa and Gbajabiamila”, the source added.

The northern billionaire funding the project is believed to be using his deep connections within the House to consolidate support.

Meanwhile, the southern governor involved is said to be driven by the survival battles he is engaged in with his estranged political godfather and he (the governor) to strengthen the opposition’s influence in the House, removing a particular principal officer and leveraging this impeachment move as a way to gain leverage in national politics.

The situation remains fluid, but the growing list of lawmakers reportedly backing the impeachment signals that the matter may soon escalate into a full-blown political crisis.

Political observers suggest that, if the plot gains further traction, Abbas’ leadership may come under serious threat.

A key challenge for the plotters will be whether they can muster enough signatures to bring the impeachment to the floor for a formal vote.

As of now, the 60 alleged signatures fall short of the majority needed to successfully remove the Speaker, but the pace at which the dissent is growing has raised concerns among pro-Abbas lawmakers.

For now, Speaker Abbas has maintained a public silence on the matter. But with growing murmurs of discontent both inside the House and beyond, it seems only a matter of time before this political struggle explodes into the public eye.

It will be recalled that rumours circulated last week about a potential plot to impeach Senate President Godswill Akpabio by some allegedly aggrieved senators.

However, the Senate quickly dismissued the report as fake news, and the senators subsequently passed a vote of confidence in Akpabio.

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2027: NNPCL CEO, KYARI, NOT EYEING BORNO GOVERNORSHIP, SAYS GROUP

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2027: NNPCL CEO, KYARI, NOT EYEING BORNO GOVERNORSHIP, SAYS GROUP

The National Movement for Good Governance and Participatory Democracy has debunked claims that the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kolo Kyari, is eyeing a gubernatorial ticket in Borno State for 2027, with aspirations to run for president in 2031.

In a press statement signed by its National Coordinator, Emeka Tony, and National Secretary, Yusuf Hassan, the group dismissed the story as a “concocted narrative” by unidentified individuals seeking to tarnish Kyari’s image. 

The group described the report as malicious, emphasizing that it is part of a continued campaign by certain elements upset by Kyari’s reappointment by President Bola Ahmed Tinubu.

“These selfish and criminal elements are bent on destroying the NNPCL boss’s image for reasons best known to them,” the statement read. 

The group further stated that Kyari’s reappointment and his leadership of the NNPCL have earned widespread commendation, despite attempts to malign him.

The group underscored Kyari’s commitment to his role, noting that he has shown accountability, transparency, and excellent performance despite ongoing challenges in the energy sector. 

His efforts, they said, have been focused on resolving Nigeria’s fuel crisis, a critical issue affecting the nation’s economy.

Dismissing any speculation about Kyari’s political ambitions, the group assured Nigerians that the NNPCL boss remains dedicated to his duties and is not distracted by the political rumours. 

“Kyari is not nursing any political ambition that could distract him from delivering on his assigned duties,” the group emphasized.

The statement warned those behind the false reports to desist, threatening to expose the individuals responsible for the smear campaign. 

According to the group, these individuals have attempted to exploit Kyari financially, but their efforts have failed due to Kyari’s integrity.

The group also claimed that the story was an attempt to create discord between Kyari and other northern political figures, particularly in Borno State. 

It urged Nigerians to disregard the reports, asserting that such political moves are not made clandestinely or through media speculation.

It added that Kyari’s contributions to Nigeria’s energy sector, particularly in building gas infrastructure such as the OB-3 Gas Pipeline, and AKK Gas Pipeline, and promoting the Nigeria-Morocco Gas Pipeline are proof of his commitment to national development.

The group called on Nigerians to remain vigilant and not fall for “old tricks” aimed at distracting from Kyari’s work.

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