Shockwaves are reverberating across Yorùbáland and the global Yorùbá diaspora following the sudden death of the Baba Ọba (King’s Father) of the famed Oyotunji African Village in South Carolina, USA. The late Baba Ọba, Lukman Arohunfale, a revered socialite and traditionalist, passed away under circumstances already sparking fierce controversy. His death comes just days after he publicly accused the newly installed Alaafin of Oyo, His Imperial Majesty Oba Akeem Adéyẹmọ Owoade, of allegedly ordering his courtiers to beat him mercilessly during a recent courtesy visit to the Oyo palace in Nigeria. In a widely circulated voice recording, the deceased recounted how what was meant to be a simple homage turned violent. Although the Baba Ọba had reportedly battled ill health in the past year, growing insinuations suggest that the alleged physical assault may have aggravated his condition, ultimately leading to his untimely death. The palace in Oyo recently denied that s...
The federal government on Thursday, February 4, announced that registration for the guaranteed offtake stimulus scheme and the general Micro, Small and Medium Enterprise (MSME) grant would commence on Tuesday, February 9.
Reports has it that through the guaranteed off-take stimulus scheme and general MSME grant, 100,000 MSMEs would benefit from GoS 100,000 and Nigerians would benefit from a one-off N50,000 MSME grant.
The minister of trade and investment, Mariam Katagum, who is also the steering committee of the MSMEs survival fund and guaranteed off-take stimulus scheme said the programme is aimed at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises by guaranteeing the offtake of their products.
She said that a total of 100,000 Micro and Small Enterprises would benefit from the scheme, adding that a total target national number of beneficiaries is 100,000.
The breakdown of beneficiaries is as follows:
1. Lagos - 3,880
2. Kano - 3,280;
3. Abia - 3,080
4. Other states - 2,640
The qualification criteria for the MSMEs as follows:
1. Applicant must be a Nigerian National.
2. Applicant must be registered under the Corporate Affairs Commission (CAC) with at least a business name certificate.
3. Applicant must have a verifiable BVN and Bank Account
4. Applicant must have at least 2 staff
5. Applicant must be ready to produce under NAFDAC and SON specifications.
The minister of state for industry, trade and investment, Mariam Katagum, said that the portal would be opened to all MSMEs to apply for the intervention funds.
It was reported that the minister said the portal would be opened from 11:59 pm on Tuesday, February 9 to Thursday, February 18.
The guaranteed offtake stimulus scheme is targeted at protecting and sustaining the incomes of vulnerable MSMEs by guaranteeing the offtake of their products.
The committee said a total of 100,000 MSMEs would benefit from the scheme, adding that Lagos would get 3,880 beneficiaries, Kano 3,280, Abia 3,080 while other states will each have 2,640 beneficiaries.
In a related development, following the successful launch of the MSMEs Survival Fund on September 21, the federal government announced the next implementation stage with the official launch of the Artisans’ Support Scheme on Thursday, on October I, Independence Day.
This was disclosed by the project delivery office, MSMEs survival fund and guaranteed offtake schemes on Friday, October 2.
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