Business
Tuface Becomes Tinubu’s Brand Ambassador on MSMEs, Jobs Creation
Job Creation and Micro, Small, and Medium Enterprises (MSMEs) Secretariat (Office of the Vice-President) has entered into a partnership with Mr. Innocent Idibia (Tuface)to galvanise public support for the MSMEs sector.
The partnership agreement was signed by Tuface and Mr Tola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation and MSMEs, on Friday in Abuja.
Adekunle-Johnson said the coming on board of Tuface as a job creation and MSMEs Brand Ambassador would promote ideas and initiatives under the National MSMEs Awards.He added that the partnership would promote the Expanded National MSMEs Clinics, Shared Hubs for MSMEs Initiative as well as other related activities around job creation.
The presidential aide also expressed hope that Tuface’s craft and goodwill would help promote the participation of citizens in all programmes aimed at creating jobs and supporting businesses.
We thought of how best we can sustain the momentum of creating jobs and promoting all the activities of the MSMES, awards, hubs, and the single-digit loan.
“And in trying to consistently promote this, we looked at areas that are of interest to some of our target audience, and you will agree with me it is the entertainment or creative industry.
“Today we are unveiling who I regard as an icon, a legend in the game, he has been consistent with his craft and a very creative man in the person of Mr. Innocent Idibia (Tuface).
This partnership with Tuface will help galvanise private sector support for public sector initiatives aimed at creating jobs and supporting businesses,” he said.
In response, Tuface, appreciated President Tinubu’s administration for its support to the youth and small businesses.
He promised to create more awareness in the country on MSMEs, especially among the youth.He also expressed gratitude to the government for the confidence reposed on him.
He also expressed gratitude to the government for the confidence reposed on him.“I appreciate the vote of confidence, I appreciate the kind words, for me I’m excited about this. It is a very good move in a good direction.
“Most of our youths today, there are so many things going that they can easily be deviated from following the right positive trajectory of life.
“But with this, people might even under estimates the power and value that this will bring to both the individuals, their communities and the country as a whole. So, for me I really commend this initiative, I commend the show of concern and show of support from the government towards young people, small businesses,” he said.
Also, Mrs Sarah Ajayi, Deputy Director, Office of Trade and International Relations, National Agency for Food and Drug Administration and Control (NAFDAC), said: “entertainment is what attracts the youth. Most of them are given to entertainment, so having Tuface as our brand ambassador is a good one.”
On his part, Mr Chukwuemeka Nwakile, Acting Group, Regional Manager, Access Bank Plc., restated the commitment of the bank to empower the youth in the area of job creation.
“For us in Access Bank it is a very familiar and top terrain for us, and rest assured that we will never apply the break at this point. We will go all out to ensure that the job creation mantra of the government is not just by word of mouth but by action,” he said.
Business
Obi Sees Something Good in Tinubu’s “Naira Float Policy ‘
The policy was introduced by the Tinubu administration in June 2023 as part of wider foreign exchange reforms.
The presidential candidate of the National Democratic Congress (NDC) for the 2027 election, Peter Obi, has said he would retain President Bola Ahmed Tinubu’s naira float policy if elected president.
The policy was introduced by the Tinubu administration in June 2023 as part of wider foreign exchange reforms.
The Central Bank of Nigeria removed restrictions at the Investors and Exporters foreign exchange window, allowing the naira to trade more freely against the dollar and other major currencies
Obi made the disclosure in a public statement on air, emphasising that his administration would seek to strengthen the currency by prioritising productivity and increasing economic output rather than reversing the floating exchange-rate framework.
Asked to identify one policy of the Tinubu administration he would keep if elected, Obi said, “There’s one – the floating of the Naira. I’m not going to defend it. But I’m going to put productivity to make it more valuable to the people.”
His position means he would maintain the floating exchange-rate system while seeking to change the economic conditions that determine the strength and value of the naira.
Business
Dangote Refinery Buys 16m Barrels Of Nigerian Crude For October
The October supply is equivalent to about 520,000 barrels per day, representing most of the refinery’s 700,000 barrels-per-day processing capacity.
Dangote Refinery has bought at least 16 million barrels of Nigerian crude oil for delivery in October.
Reuters reported that the 16 million barrels comprise monthly crude allocations from the Nigerian National Petroleum Company and additional volumes purchased through a tender.
The October supply is equivalent to about 520,000 barrels per day, representing most of the refinery’s 700,000 barrels-per-day processing capacity.
The increased crude purchases highlight the refinery’s rising demand for feedstock as it expands operations and moves closer to operating at a larger share of its installed capacity.
Business
Brent crude slid to around $106 per barrel
Top US officials reportedly warned President Donald Trump that the war could continue through the remainder of his term, which ends in January 2029.
Brent crude slid to around $106 per barrel on Friday in a likely technical correction, but was still set to end the week sharply higher as the escalating conflict between the US and Iran fueled concerns over prolonged disruptions to global energy supplies.
Top US officials reportedly warned President Donald Trump that the war could continue through the remainder of his term, which ends in January 2029.
Meanwhile, Iranian leaders are reportedly determined to continue fighting despite mounting economic costs, viewing the conflict as an existential threat.
They also claim that Tehran has managed to rebuild its missile capabilities and could intensify attacks on US and Gulf assets if Washington escalates its own strikes.
Fighting has intensified over the past two weeks, with the US targeting Iranian oil tankers while Iran launched missiles at US warships and tankers in the Persian Gulf, as well as American assets in neighboring countries.
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