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BOI, NCGC sign N10bn loans for women in business

BOI said that the programme would support women-led enterprises across manufacturing, ICT, digital marketing, ecommerce, healthcare, education, renewable energy, processing, waste management, and the creative industries.

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• Image of a business woman/ BOI

Nigeria’s push for inclusive economic growth gained momentum on Wednesday as the Bank of Industry (BOI) and the National Credit Guarantee Company (NCGC) launched a N10 billion loan guarantee programme aimed at improving access to finance for women-owned businesses.

The agreement, signed through a Memorandum of Understanding (MoU) in Abuja, represents one of the major gender focused credit support initiatives introduced in recent years.

The BOI Managing Director, Dr Olasupo Olusi and the Managing Director of NCGC, Mr Bonaventure Okhaimo, signed the MoU on behalf of their respective institutions.

The scheme, known as GLOW, meaning Guaranteed Loans for Women, provides for a 25 per cent guarantee by NCGC on BOI loans.

This arrangement is expected to reduce lender risk and create easier access to affordable credit for women entrepreneurs at concessionary interest rates, the two organisations said.

BOI said that the programme would support women-led enterprises across manufacturing, ICT, digital marketing, ecommerce, healthcare, education, renewable energy, processing, waste management, and the creative industries.

Olusi said the initiative was designed to address long-standing barriers that prevent women from accessing growth capital.

He said GLOW was structured to offer concessionary pricing at seven per cent, flexible collateral options and capacity building support, noting that these measures were intended to help close gender financing gaps within the MSME sector.

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OPay launches new office in Jos

” Opening this office in Jos allows us to stay closer to the people we serve, better understand their needs, and continue to provide fast, secure, and reliable financial services that improve everyday life.”

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OPay has officially launched its new office in Jos, Plateau State.

Speaking at the event, OPay’s Chief Operations and Technology Officer, Dotun Adekunle, said that the new Jos office reflects OPay’s continued commitment to putting customers first and advancing financial inclusion across Nigeria.

He said :” Our customers are at the center of everything we do.

Opening this office in Jos allows us to stay closer to the people we serve, better understand their needs, and continue to provide fast, secure, and reliable financial services that improve everyday life.”

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Governor Otti Commissions Ultimum Manufacturing Plant in Aba

Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon.

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Ultimum Limited, the manufacturers of Razzl brand of carbonated soft drinks has commissioned its state-of-the-art beverage manufacturing plant in Aba, Abia State.

Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon.

Located in the Osisioma Industrial Layout, the new plant was commissioned by the Governor of Abia State, Dr. Alex Chioma Otti.

Otti described the investment as a clear signal of economic revival and growing investor confidence in Abia State.

“This investment confirms that we are creating the right conditions for businesses to grow, thrive, and succeed. Investors will always go where there is clarity, stability, and opportunity.

Our focus has been to build that environment, and today’s commissioning shows that the strategy is working,” he said.

The Chairman of Ultimum Limited and representative of the investor group, Mr. Whalen Kadji, emphasized the company’s long-term commitment to Aba and Nigeria.

“We did not come here by chance. We came because of the energy and entrepreneurial spirit of Aba. This city has always been a center of enterprise, and we believe strongly in its future.

This plant is more than an investment in beverages; it is an investment in people, in jobs, and in the growth of local industry. We are here for the long term, and this is just the beginning of what we intend to build here.”

The Managing Director of Ultimum Limited, Mr. Austin Ufomba, described the plant as a bold step in the company’s journey.

“Ultimum Limited started with a simple idea, to build world-class products right here in Africa,”he said.

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Oil price jumps to $106, stocks drop on uncertainty over US-Iran talks

Crude prices rallied more than three percent on Thursday, with Brent crude above $106 per barrel and WTI around $93.

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Oil prices jumped and equities slid Thursday as hopes for a peace deal between the US and Iran wavered after Tehran rejected Washington’s bid to wind down the nearly four-week war.

Markets had been buoyed this week by US President Donald Trump’s announcement that strikes targeting Iran’s energy infrastructure would be postponed, adding that the two sides were in peace talks.

But uncertainty over the talks and the virtual closure of the Strait of Hormuz — through which around 20 percent of oil and liquefied natural gas passes — have cast a shadow over market sentiment.

“The market rollercoaster continues,” said Joshua Mahony, chief market analyst at Scope Markets.

Crude prices rallied more than three percent on Thursday, with Brent crude above $106 per barrel and WTI around $93.

( VANGUARD)

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