Business
NASME, CPPE Urge Tinubu To Leverage on MSMEs To Achieve Eight-points Economic Agenda
President Bola Tinubu has been urged to take the full advantages of the Micro, Small and Medium Enterprises (MSMEs) potential to achieve his administration’s eight-points economic agenda.
Dr. Muda Yusuf , the CEO of Centre for the Promotion of Private Enterprise ( CPPE), made the call during the 4th edition of the National Association of Small and Medium Enterprises (NASME) Business Roundtable, with the theme, ‘MSMEs : The Catalyst for Nigeria’s Economic Rejuvenation and Growth’.
Dr. Yusuf, who was the guest speaker, pointed out that the role of the MSMEs fits perfectly into the eight-point agenda espoused by President Bola Tinubu which includes, among others, food security; poverty eradication; economic growth, job creation; and inclusion.
” Five of the eight-point agenda rests squarely within the MSME space.
What this implies is that for the Tinubu administration to accomplish the eight-point agenda, the government must leverage and strengthen the MSMEs across all sectors of the economy,” said Dr. Yusuf.
He said that MSMEs play critical roles in the economic growth of all economies globally.
They play even more important roles in the developing economies. In the Nigerian economy, the MSMEs deliver value as catalyst to the economy in several other ways:
• They promote competitiveness and entrepreneurship across sectors and the entire economy.
They enhance efficiency, innovation and aggregate productivity growth.
• They contribute a lot more to job creation more than large enterprises. They are largely more labour intensive and contribute immensely to poverty reduction.
• They are effective vehicles for the promotion of economic inclusion.
• Compared to large enterprises, MSMEs tend to use less capital per worker and have the capacity to use capital more productively.
• MSMEs promote entrepreneurial development and accelerate the use of local law materials.
• They are instrumental to the mobilization and utilization of small savings for investment. Some of these funds tend to exist outside the banking system.
Business
We didn’t shutdown Tummy Tummy noodles factory – NAFDAC
In a statement released on Wednesday, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, clarified that the viral recording was not only misleading but also a recycled falsehood.
The National Agency for Food and Drug Administration and Control (NAFDAC) has issued a formal disclaimer concerning an audio recording circulating on social media.
The audio recording falsely claims the agency shut down the Tummy Tummy noodles manufacturing facility in Anambra State.
In a statement released on Wednesday, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, clarified that the viral recording was not only misleading but also a recycled falsehood.
According to her, the same audio first appeared in Oct. 2023 and was thoroughly investigated at the time.
“The claims made in the recording are entirely false.
“The Tummy Tummy noodles facility in Anambra State was not sealed,” she stated.
Business
Illicit Financial Flows Draining National Resources – Adedeji
He emphasized the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.
•Chairman of FIRS, Zacch Adedeji
On July 22, 2025, the Executive Chairman of FIRS, Zacch Adedeji, delivered the welcome address at the National Conference on Illicit Financial Flows in Abuja.
He emphasizied the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.
He cited the recent tax reforms as a major step forward and highlighted the following as key points in his welcome address:
* Illicit Financial Flows through tax evasion, profit shifting and money laundering are draining national resources and threatening fiscal stability.
- The recent signing of four tax reform bills marks a critical step toward transparency, system overhaul, and stronger institutions.
- FIRS is responding with a multi-dimensional strategy: promoting voluntary compliance, embracing digital intelligence and enhancing enforcement under the Proceeds of Crime Act.
- * A need for unified, data-driven, and globally coordinated action to close fiscal gaps and protect Nigeria’s economic future.
Business
Just in: CBN Retains July Interest Rate at 27.5% , Says 8 banks meet recapitalisation target
The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon.
The Central Bank of Nigeria (CBN) has maintained the July Monetary Policy Rate (MPR) of 27.5 percent with all policy parameters.
The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon.
Mr Cardoso explained that the asymmetric corridor was retained at +500/-100 basis points around the MPR, leaving the Cash Reserve Ratio at 50 per cent for Deposit Money Banks and a general Liquidity Ratio of 30 percent.
He said that the decision to maintain the current MPR was premised on the need to continue to ensure the ongoing inflation reduction while vigorously ensuring declining prices.
The CBN boss revealed that as of July 18, the nation’s foreign reserve stood at 40.1 billion, which could provide import cover of nine and a half months.
He also disclosed that eight banks had achieved the new recapitalisation requirements.
The governor said the monetary and fiscal authorities would continue to work together to reduce the nation’s inflation rate to a single digit.
Ododo Moves to Crush Banditry in Olle-Bunu as Army Deploys 12 Brigade Troops
PDP shifts national convention to November in Ibadan
Fifty Editors for NGE- EU Workshop on Combating Fake News
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
News3 days agoBREAKING: Natasha arrives at the National Assembly to resume duty
-
News3 days agoUPDATE: Drama as security prevents Natasha from entering N’Assembly
-
Politics13 hours agoNentawe Yiltwada replaces Ganduje as APC Chairman
-
International13 hours agoRussian missing plane found in Forest – No Survivors
-
News3 days agoRULAAC Commends DSS DG’s Human Rights Reforms, Tasks IGP to Emulate Same in the Nigeria Police Force
-
News3 days agoJUST IN: PSC threatens to kick out drug addicts in the system
-
Crime2 days agoJoint Security Forces Nab 12 Kidnap Suspects, Rescue Victims in Kogi/Kwara Operation (Photos)
-
Business3 days agoJust in: CBN Retains July Interest Rate at 27.5% , Says 8 banks meet recapitalisation target