Business

NASME, CPPE Urge Tinubu To Leverage on MSMEs To Achieve Eight-points Economic Agenda

Published

3 years ago

September 23, 2023

OCHEFA

432 Views

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.

Related Topics:CPPE NASME Business Roundtable on MSMEs President Tinubu's eight-point economic agenda

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Business

Meta set to charge WhatsApp Business messages from October 1

For example, a Nigerian fintech company sending 500,000 chargeable utility messages could incur about $5,050 in fees from Meta alone, excluding charges that may come from third-party providers or software platforms used to manage the messaging service.

Published

1 day ago

August 28, 2026

OCHEFA

19 Views

Businesses using Meta’s WhatsApp Business Platform will begin paying for certain messages sent to customers from October 1, 2026, under a new pricing structure announced by the company.

The change applies to organisations that use the WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer communication on a large scale.

Regular WhatsApp users and small businesses using the standard WhatsApp Business app are not the main targets of the new charges.

Under the revised system, the amount businesses pay will depend on the type of message being sent.

Utility messages, including payment alerts, order confirmations and other service-related updates, will cost about $0.0101 per message, while marketing messages will attract a higher fee of approximately $0.062 each.

Although the individual charges appear relatively small, companies that send large volumes of messages could see their communication expenses rise significantly.

Business

Dangote Refinery Suspends Petrol Sales To Lagos Depots

Dangote Refinery is prioritising markets where imported products are either unavailable or less dominant, rather than adding more supply to Lagos, which receives substantial volumes of imported petrol.

Published

2 days ago

August 28, 2026

OCHEFA

20 Views

Dangote Petroleum Refinery has suspended coastal sales of Premium Motor Spirit (PMS) to depot owners and importers in Lagos.

People familiar with the refinery’s operations said that the move is deliberate, aimed at redirecting locally refined petrol to areas where imported supply is scarce.

The suspension is ongoing. A source said: “The suspension of coastal sales to Lagos is still ongoing. It is aimed at redirecting products to locations where imported products are unavailable. Lagos has quite some imported petrol.”

The strategy is intended to ensure locally refined petrol reaches areas where it is most needed.

The decision comes amid concerns at the refinery over the volume of imported petrol entering Nigeria.

According to data available to the refinery, imported PMS accounted for about 43 per cent of total petrol supplied into Nigeria in July

Business

Naira Exchange Rates Friday, August 28

Today, the Naira Black Market exchange rate for 1 Great British Pound (GBP) is 1900 Naira. This means that you can get 1900 Naira for every 1 Pound that you exchange.

How much is 100 pounds in naira today?
At the current black market rate of 1900 per pound, 100 British Pounds = 190,000 Naira.