Business
Presidential Nano Grant Beneficiaries Tell Tales of Joy, Frustration
Last weekend, the Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, flew from Abuja to Calabar, Cross River State, to oversee the disbursements of the federal government’s N50k Nano grant to some beneficiaries in the State.
The grant is being disbursement through the Bank of Industry.
During the event held at the PBAT Media Centre, the Minister said: ” This was the first of many trips across the country to get on ground realities of the grant implementation and ensure they are going to the right people.
We still have many more people to pay but reassuring that this program by @officialABAT is restoring hope and rebuilding lives in Cross River.”
She stated that 660,320 nano businesses have been supported so far with over 300,000 still to come.
“Manufacturers and MSMEs your turn is from next month,” she said.
Industrial Times, has been following the development, and reports that while some of the grant beneficiaries are happy and praising the government, others are frustrated as the following comments, shows: ” @Aishatu umar: I want to call your attention concerning the payments of presidential condition grant scheme two of beneficiaries I know their dashboard on your portal shows that they were paid but unfortunately they never received dime in their respective accounts up to now since last 5 weeks.”
@ victor okon: “I’m yet to get my 50k despite having done physical data capturing.”
Read more:
Industrial Times
industrialtimesngr.com/Presidential-nano-grant-beneficiaries-tell-tales-of-joy-frustration
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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