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Review $1bn loan for MSME’s support through BOI — Analyst appeals

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A Business Analyst, Mr Nerus Ekezie, has appealed to the Federal Government to review the one billion dollar  loan to support the Micro Small and Medium Enterprises (MSMEs) which is to be accessed through the Bank of Industry (BOI).

Ekezie, who is a former Director of National Association of Small and Medium Enterprises (NASME), made the call in an interview in Lagos on Tuesday.

According to him, earmarking the funds to support the MSMEs’ sector, via the BOI, might not achieve its objectives because of its stringent conditions.

“Many budding entrepreneurs cannot meet the criteria set by the BOI  to access the loans.

“The bank will start to demand for a collateral, guarantor and a processing fee, thereby negating the process,” he said.

According to him, the Federal Government should have more interface with the various associations in the SMEs’ sector so as to empower the right businesses.

“The government could liaise with the Lagos Chamber of Commerce and Industry (LCCI), Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture ( NACCIMA ) or Nigerian Association of Small and Medium Enterprises  (NASME) to guide them on how they could allocate the funds.

“ These bodies within the business communities are stakeholders and are better informed on how such ideas could be more successful,” he said

He noted that the BOI, which is a developmental bank, has been over capitalised, and allocating these funds would be unnecessary at there were other channels to support the MSME’s sector.

Our Correspondent reports the Federal Government said that the Bank of Industry (BoI), under the supervision of the Federal Ministry of Industry, Trade and Investment, had secured a one billion dollar syndicated loan to support Micro, Small and Medium Enterprises (MSMEs) in the country.

The Minister for Industry, Trade and Investment, Otunba Adeniyi Adebayo, made the disclosure at the Quantum Mechanics Limited MSMEs Survival Fund capacity building programme in Abuja.

The loan is expected to improve the capacity of the bank to effectively support MSMEs across key sectors of the Nigerian economy.

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NASENI EVC bags award for industrial innovation at NEAPS 2024

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The Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu, has been honoured with the distinguished award for Engineering and Industrial Innovation at the 2nd edition of the Nigeria Excellence Awards in Public Service (NEAPS).

The award which was presented by the Vice President of Nigeria, Sen. Kashim Shettima, GCON on behalf of President Bola Ahmed Tinubu GCFR, underscores Mr. Halilu’s stellar performance and transformational leadership during his first year in office.

The presentation ceremony, held at the Banquet Hall of the Presidential Villa, Abuja on Saturday 6th July 2024 aimed at celebrating outstanding public servants who have made significant contributions to the nation’s development.

Mr Halilu’s recognition is a testament to his unwavering commitment to making NASENI a hub of technology transfer and innovation not only in Nigeria but across Africa.

Under Halilu’s leadership, NASENI has witnessed transformational reforms aimed at fostering technological advancements and industrial growth. His visionary approach has driven the agency to new heights, with key initiatives that have positioned NASENI as a leading hub for innovation and proving the manufacturing capabilities of Nigeria.

These efforts have included the development of cutting-edge technologies, the promotion of sustainable industrial practices, and the fostering of strategic partnerships with leading industry players to enhance Nigeria’s competitive edge in the global market.

In his acceptance speech, Mr. Halilu expressed his gratitude to President Tinubu, Vice President Shettima, and the entire NASENI team.

He emphasized that this recognition is a collective achievement, reflecting the hard work and dedication of everyone at NASENI.

“This award is a recognition of our commitment to advancing engineering and industrial innovation in Nigeria. It is a testament to the efforts of the entire NASENI team, and I am deeply honored to accept it on their behalf,” Mr. Halilu stated.

The award not only highlights Mr. Halilu’s contributions over the past year but also sets a benchmark for future endeavours aimed at driving technological and industrial innovation in Nigeria and beyond.

NASENI remains committed to its mission of fostering sustainable development through technological innovation, and this award is a strong validation of its ongoing efforts to make a lasting impact on the nation’s industrial landscape.

Also, other eminent Nigerians, who received the award were: General Abdulsalami Abubakar, Senate President, Godswill Akpabio, Speaker of the House of Representatives, Hon. Tajudeen Abbas, Chief of Staff to the President, Hon. Femi Gbajabiamila, former and serving Governors, Ministers, Lawmakers, and Head of Government MDAs among others.

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Golden Terra Oil campaign rekindles memories of love and tradition

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In the bustling kitchens of homes across Nigeria, something magical is happening. Amidst the sizzle of pans and the aroma of spices, families are coming together in a celebration of love, nourishment, and togetherness. Golden Terra Soya Oil’s “Pour Pure Love” campaign has captured the hearts and taste buds of consumers nationwide.

For AlhassanSule, an engineer, watching the ad repeatedly reminds him of a time long gone, yet still etched vividly in his memory. As he watches the scene unfold on screen—a mother stirring a pot of soup, the aroma filling the kitchen—he can’t help but be transported back to his own childhood home.

Suddenly, he was a young boy again, sitting at the kitchen table, watching his mother cook with the same love and care. He could almost taste the flavors of her cooking, and feel the warmth of her embrace as she served him a bowl of steaming hot soup.

But it wasn’t just the sights and smells that brought tears to his eyes; it was the flood of emotions that accompanied them—the love, the warmth, the sense of belonging. In that moment, he realised how much those simple meals had meant to him, how they had formed the foundation of his most treasured memories.

As the ad came to an end, he finds himself smiling through his tears, grateful for the reminder of the love that had always been there, even in the simplest of moments. And as he reached for a bottle of Golden Terra Oil at the supermarket, he did so not just as a consumer, but as someone who had been touched by the power of nostalgia and the enduring bond of family.

The “Pour Pure Love” campaign emphasises the importance of creating an emotional connection with consumers by offering meaningful connections in addition to high-quality products.

Chief Marketing Officer, TGI Group, Probal Bhattacharya stated that the outpouring of positive reviews and engagement from consumers for the “Pour Pure Love” campaign underscores the enduring connection between Golden Terra Soya Oil and the moments of motherly love and care shared around the dining table.

“Our goal is to be more than just a product on the shelf – we strive to be a trusted companion, a source of inspiration, and a symbol of warmth and love. With the Pour Pure Love campaign, Golden Terra Oil pays tribute to all the world’s Moms for the warm tasty meals that fill our hearts and our souls with all the love that they pour selflessly into our lives,” he stated.

Golden Terra Soya Oil is a premium, all-purpose cooking oil made from 100 percent pure soya beans, sourced and manufactured in Nigeria. It contains 5x more PUFA (Polyunsaturated Fatty Acids) proven to deliver numerous health benefits, like reducing cholesterol, maintaining a healthier heart, enhancing nerve function, boosting brain health, and supporting muscle strength. Discerning consumers trust Golden Terra Soya Oil to bring an unmatched balance of Taste & Health to every dish cooked with it. Available in various sizes, including 1000ml pouch, 700ml and 1.4L bottles, and 2.5L, 4.5L, and 25L kegs.

Tropical General Investments (TGI) Group is an international investment and holding company with diversified interests and investments across Africa, The Middle East, Asia, and other emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities, and a highly skilled workforce to produce world-class products that are consumed both locally and exported to global markets. Across markets, TGI Group owns over a hundred leading brands in Fast Moving Consumer Goods, Agricultural Inputs, Industrial Chemicals, Homecare Products and Pharmaceuticals.

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Industry

Golden Terra Oil campaign rekindles memories of love and tradition

Published

on

In the bustling kitchens of homes across Nigeria, something magical is happening. Amidst the sizzle of pans and the aroma of spices, families are coming together in a celebration of love, nourishment, and togetherness. Golden Terra Soya Oil’s “Pour Pure Love” campaign has captured the hearts and taste buds of consumers nationwide.

For AlhassanSule, an engineer, watching the ad repeatedly reminds him of a time long gone, yet still etched vividly in his memory. As he watches the scene unfold on screen—a mother stirring a pot of soup, the aroma filling the kitchen—he can’t help but be transported back to his own childhood home.

Suddenly, he was a young boy again, sitting at the kitchen table, watching his mother cook with the same love and care. He could almost taste the flavors of her cooking, and feel the warmth of her embrace as she served him a bowl of steaming hot soup.

But it wasn’t just the sights and smells that brought tears to his eyes; it was the flood of emotions that accompanied them—the love, the warmth, the sense of belonging. In that moment, he realised how much those simple meals had meant to him, how they had formed the foundation of his most treasured memories.

As the ad came to an end, he finds himself smiling through his tears, grateful for the reminder of the love that had always been there, even in the simplest of moments. And as he reached for a bottle of Golden Terra Oil at the supermarket, he did so not just as a consumer, but as someone who had been touched by the power of nostalgia and the enduring bond of family.

The “Pour Pure Love” campaign emphasises the importance of creating an emotional connection with consumers by offering meaningful connections in addition to high-quality products.

Chief Marketing Officer, TGI Group, Probal Bhattacharya stated that the outpouring of positive reviews and engagement from consumers for the “Pour Pure Love” campaign underscores the enduring connection between Golden Terra Soya Oil and the moments of motherly love and care shared around the dining table.

“Our goal is to be more than just a product on the shelf – we strive to be a trusted companion, a source of inspiration, and a symbol of warmth and love. With the Pour Pure Love campaign, Golden Terra Oil pays tribute to all the world’s Moms for the warm tasty meals that fill our hearts and our souls with all the love that they pour selflessly into our lives,” he stated.

Golden Terra Soya Oil is a premium, all-purpose cooking oil made from 100 percent pure soya beans, sourced and manufactured in Nigeria. It contains 5x more PUFA (Polyunsaturated Fatty Acids) proven to deliver numerous health benefits, like reducing cholesterol, maintaining a healthier heart, enhancing nerve function, boosting brain health, and supporting muscle strength. Discerning consumers trust Golden Terra Soya Oil to bring an unmatched balance of Taste & Health to every dish cooked with it. Available in various sizes, including 1000ml pouch, 700ml and 1.4L bottles, and 2.5L, 4.5L, and 25L kegs.

Tropical General Investments (TGI) Group is an international investment and holding company with diversified interests and investments across Africa, The Middle East, Asia, and other emerging markets. TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities, and a highly skilled workforce to produce world-class products that are consumed both locally and exported to global markets. Across markets, TGI Group owns over a hundred leading brands in Fast Moving Consumer Goods, Agricultural Inputs, Industrial Chemicals, Homecare Products and Pharmaceuticals.

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