N50,000 presidential grant: 100,000 small businesses benefit in first phase

A total of 100,000 small businesses across the country have so far received a presidential grant of N50,000 under the first phase of the Trade Grants Scheme.

Minister of Industry, Trade and Investment, Doris Uzoka-Anite, disclosed this, adding that one million nano businesses would benefit from the scheme.

A report by Saturday Punch quoted the minister as saying this through her aide, Terfa Gyado, in an interview with the newspaper.

Newstrends notes that the grant aimed at driving sustainable economic growth at the grassroots level will be disbursed with 70 per cent going to women and youths, 10 per cent individuals with disabilities, and five per cent senior citizens, and the remaining 15 per cent allocated to other groups.

Bank of Industry (BOI) was appointed as the executing agency for the funds.

The minister said the disbursement which began a few weeks ago would be distributed to 1,291 nano businesses in each of the 774 local governments in the country.

The Federal Government in December announced the Presidential Conditional Grant Scheme to empower small businesses as part of the Presidential Palliatives Programme.

It said a total of N200 billion would be disbursed through the BoI to support manufacturers and businesses across the country.

Aniete, giving an update on the scheme, said all verified applicants would receive their grants in subsequent phases.

The minister said, “The Presidential Conditional Grant Scheme kicked off a few weeks back and disbursement has been made to the first batch.

“Each grant applicant gets N50,000 while the applicants are judged by the criteria of owning a nano business and being verified using their Bank Verification Number and their National Identification Number.

“So those who were successfully verified on the nature of their business and all other criteria have been able to get some of the initial disbursement.”

The minister said the grant was paid directly to beneficiaries’ accounts after proper verifications with a target to reach one million small businesses in the 774 LGs and the six council areas in the Federal Capital Territory.

“The target is for one million nano businesses across the 774 local governments across the federation and that works out to a total of 1,291 nano businesses per local government and that is how the spread is going to be.

“So far, the disbursement has hit about 100,000 small businesses and they have got the initial disbursement and the target remains one million. “Disbursement is still ongoing and we are still waiting for data from across all the states and it is an ongoing process.”

FG to launch new national ID card for payment, others

The Federal Government says it has concluded arrangements to launch a new National Identity Card with payment and other social service features.

It said the New National Identity card would be delivered in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS).

The project would be powered by AfriGO, a national domestic card scheme, Head of Corporate Communications of NIMC, Dr Kayode Adegoke, announced in a statement in Abuja.

The statement read, ”The National ID card, layered with verifiable National Identity features, is backed by the National Identity Management Commission (NIMC) Act No. 23 of 2007, which mandates NIMC to enrol and issue a General Multipurpose card (GMPC) to Nigerians and legal residents.

“This card will address the demand for physical identification enabling cardholders to prove their identity, access government and private social services, facilitate financial inclusion for disenfranchised Nigerians, empower citizens, as well as encourage increased participation in nation-building.

“Only registered citizens and legal residents with the National Identification Number (NIN) will be eligible to request the card.

“The card, which will be produced according to ICAO standards, is positioned as the country’s default national identity card.

“In addition to this functionality, cardholders will also be able to use the cards as debit or prepaid cards by linking same to bank accounts of their choice.

“The card shall enable eligible persons especially those financially excluded from social and financial services have access to multiple government interventions programmes.”

Its key features are as follows:

Machine-readable Zone (MRZ) in conformation with ICAO for e-passport information

Identity card Issue Date and document number in line with ICAO standard.

Additional features are travel, health insurance information, microloans, agriculture, food stamps, transport, and energy subsidies, etc

Nigeria’s quick response code (NQR) containing the national identification number

Biometric authentication, such as fingerprint and pictures, as the primary medium for identity verification through the data on the card chip

Offline capability that allows transactions in areas with limited network coverage or zero infrastructure connectivity

“Functionality as a debit and prepaid card catering to both banked and unbanked individuals

Request for cards by registered citizens and legal residents will be made available online, at any commercial bank, various agencies or agents participating in multiple programs and/or any NIMC offices nationwide

JUST IN: Tinubu confers national honours on fallen soldiers, approves house, scholarships for families 

President Bola Tinubu has conferred posthumous national honours on the four officers and 13 soldiers killed in Okuama, Delta State, on March 14, 2024.

The four officers have been accorded the Award of Member of the Order of Niger (MON) while the 13 courageous soldiers who also lost their lives were awarded the Officer of the Federal Republic (OFR).

The President said that the Federal Government would provide a house in any part of the country to each of the families of the four officers and 13 soldiers.

He also approved scholarships for all the children of the deceased up to the university level.

The President mandated the Military to, within the next 90 days, ensure that all the benefits of the departed are paid to their families.

Tinubu as Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria spoke on Wednesday at the National Cemetery in Abuja during the burial of the fallen soldiers.

Tinubu stated that Nigeria owes the valiant soldiers and their families debt of gratitude.

The President vowed that those who committed the heinous crime of killing the officers and soldiers would not go unpunished, stressing, “We will find them and our departed heroes will get justice.”

The fallen heroes are as follows:

Lieutenant Colonel Ali

Major D.E Obi

Major S.D. Ashafa

Captain U. Zakari

Staff Sergeant Yahaya Saidu

Corporal Danbaba Yahaya

Corporal Kabir Bashir

Lance Corporal Abdullahi Ibrahim

Lance Corporal Bulus Haruna

Lance Corporal Sole Opeyemi

Lance Corporal Bello Anas

Private Alhaji Isah

Private Clement Francis

Private Abubakar Ali

Private Adamu Ibrahim

Private Hamman Peter

Private Ibrahim Adamu

Part of Tinubu’s Speech

“It is with heavy heart that I join you today to commit to earth, the remains of our officers and men who died in the course of duty on 14 March 2024 in Okuama Community, Delta State.

“The officers and soldiers who lost their lives that day were patriots, brave and noble men who gave their lives to defend and protect our nation against internal and external threats. Their sacrifice will be remembered and honoured for generations to come and their.

“On 14 March, Lt. Colonel A. H. Ali, the Commanding Officer of 181 Amphibious Battalion, led three other officers and 13 soldiers to the Okuama Community to mediate in the lingering dispute with Okoloba Community.

“They went as peace makers and peace keepers respectfully seeking to bring an end to the hostilities between the two communities.

“They didn’t go with tanks, machine guns and other weapons. They were on a mission of peace.

“Before the dastardly attack, Lt. Colonel Ali, as the Chief of Army Staff briefed me, enjoyed great operational exploits; fighting terrorists and insurgents in the North East and North West before his deployment to the Niger Delta.

“Ali kept faith with his military calling till the end.

“On behalf of a grateful nation, we honour the sacrifice of Ali and the other gallant patriots who died that day. They will forever be remembered as heroes who answered the call of duty and paid the ultimate price.

“Each man now belongs to the hallowed list of servicemen and women who defended our country and protected their fellow Nigerians not minding the risk to their own lives.

“They have all been awarded posthumous national honours. The four gallant Officers have been accorded the Award of Member of the Order of Niger (MON). The thirteen courageous soldiers who also lost their lives have been Awarded the Officer of the Federal Republic Medal.

“I commiserate with the families of our fallen heroes and the entire Armed Forces. I share in the pain and grief you carry today. It is my prayer that God will comfort all who are bereaved as a result of this tragedy.”