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
Government Can’t Run Business Effectively – Dele Oye
We all know the failed history of government being involved in business. Ajaokuta… they have blown $8 billion and have not produced one steel; they blew $3 billion on refineries rehabilitation… and nothing happened. We are not having any fuel from them
Barr Dele Oye, the former president of NACCIMA, at the Vanguard Economic Discourse 2026 edition in Lagos on Wednesday, advised the federal government to limit its role to policy support and facilitation rather than involvement in commercial business activities.
Oye, now the Chairman of Alliance for Economic Research and Ethics (AERE) , cited past failures such as the Ajaokuta Steel Company and refineries rehabilitation projects.
He said: ” We all know the failed history of government being involved in business. Ajaokuta… they have blown $8 billion and have not produced one steel; they blew $3 billion on refineries rehabilitation… and nothing happened. We are not having any fuel from them.”
Oye maintained that government lacks the capacity to run businesses effectively.
” You have no track record in running any business… you cannot be government and also be private sector,” he said.
Business
John Ternus is Apple’s incoming CEO
John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.
• John Ternus / CNBC / Getty Images
Tim Cook’s 15-year tenure as Apple CEO comes to an end on Sept. 1, the company announced on Monday.
John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.
CNBC reports that as Cook exits, Apple faces numerous challenges, including an intricate supply chain that’s complicated by geopolitical tensions and soaring prices for memory due to unprecedented demand from the AI buildout.
But for Ternus, perhaps the most critical aspect of his new job will be pushing the company deeper into AI, where it’s lagged many of its megacap peers.
It said that so far, Apple’s AI strategy has involved avoiding hefty capital expenditures while Microsoft, Google, Amazon and Metacommit to hundreds of billions of dollars a year in combined capex to fund new data centers and fill them with pricey AI chips.
Business
NCC, CBN launch telecom industry portal to track fraudulent phone lines
“This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber.”
The Nigerian Communications Commission (NCC), and the Central Bank of Nigeria ( CBN), have launched a portal that enables financial institutions to track fraudulent and suspicious phone lines across the country.
It is called the Telecoms Identity Risk Management System (TIRMS) portal , aimed at providing financial institutions with real-time visibility into the status of phone numbers used for transactions.
“The portal aggregates data on churned or recycled lines and numbers flagged for suspicious activities.
“This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber,” said the Executive Vice Chairman of NCC, Dr. Aminu Maida.
Speaking during the MoU signing event, Maida said that the agreement provides a structured framework for cooperation in critical areas, including payment system integrity, fraud mitigation, digital inclusion, and consumer protection.
On his part, Governor of CBN, Mr. Olayemi Cardoso, said the MoU would strengthen coordination on regulatory approvals, technical standards, and innovation initiatives, including sandbox testing.
He noted that the partnership aligns with the apex bank’s commitment to promoting a secure, resilient, and inclusive financial system.
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