
Business
MSME survival fund records over 1,258,183 beneficiaries in two years
The Project Coordinator, MSME Survival Fund and Guaranteed Offtake Scheme, Tola Adekunle, has stated that over 1,258,183 beneficiaries have benefitted from the Federal Government’s Micro Small and Medium Enterprises (MSME) survival fund.
Indeed, the MSME fund launched by the Buhari-led administration in 2020 was to cushion the effects of the COVID-19 pandemic especially on vulnerable MSMEs and self-employed individuals in the country.

According to him, the initial setback occasioned by initial public mistrust and apathy for the scheme, resulted in several applicants failing to complete their registration under the payroll support track.
He added that the MSME grant track and particularly the Guaranteed Offtake Scheme, received a significant uptake by the PDO in inquiries for application details.
He commended the present administration for the support given to MSMEs through the scheme, noting that across the 36 States and the FCT, a total of 398,024 beneficiaries received a one-off N30,000.

A member of the Steering Committee, Kamar Bakrin, said the town hall meeting is to highlight the scheme’s achievements around the country and to receive beneficiary feedback on all tracks of the scheme.
He noted that the meetings will also serve as a medium to sensitise the public (especially, the informal sector) on the advantages of Federal Government interventions. These meetings are taking place simultaneously in Lagos (South-West); Kano (North-West); Enugu (South-East); and, Edo (South-South).
He added that the National Economic Sustainability Plan (NESP) approved by the Federal Executive Council (FEC) was borne out of the need to stimulate the economy post lockdown, especially for small and medium-scale businesses and self-employed individuals previously gainfully employed, by creating production opportunities for MSMEs and providing conditional grants to distressed businesses and self-employed individuals who have been strained with payment of salaries post-COVID 19.
He noted that the anticipated impact of the programme was to directly engage 100,000 MSMEs in the production sector alone and save at least 1.3 million jobs.
He stated that the programme had a target of 45 per cent female-owned MSMEs, and 5 per cent for those with special needs, saying that the overall target beneficiaries for the scheme were self-employed entrepreneurs, and micro and small businesses registered in Nigeria.
“A verification and approval platform was launched by the Project Delivery Office (PDO), and beneficiaries in the 36 States and FCT were invited to apply via the Survival Fund Portal. Applications were verified in line with the Project’s approved criteria, which include, Nigerian citizenship, registration in Nigeria with the Corporate Affairs Commission (CAC), verifiable BVN of business owner and staff strength of not less than 3 persons
He pointed out that the implementation of the Survival Fund across the five tracks yielded positive results. The tracks are the Payroll Support Scheme, Artisan and Transport Scheme, Formalization Support Scheme, General MSME Grants Scheme, and Guaranteed Offtake Scheme.
“Under the Payroll Support Scheme, the target was to augment the payroll obligations of MSMEs in the Health, Production, Education, Hospitality, and Food Production Sectors and also, to reach 500,000 beneficiaries. In total, 490,408 employees received between N30,000 – N50,000 as three months’ salaries in the 36 States and the FCT,” he averred.
He said the Artisan and Transport Scheme proposed to provide a one-off N30,000 grant to 333,000 beneficiaries.
“We currently have 398,260 self-employed individuals and MSMEs who have benefitted across the 36 States and the FCT. The CAC Formalization Support Scheme has achieved 100 per cent as 250,000 businesses have been successfully registered across the 36 States and the FCT,” he said.
In his words: “The General MSME Grants Scheme gave a one-off N50,000 grant to MSMEs; the target was 100,000 MSMEs. A total of 82,491 businesses have benefited from the Scheme.”
One of the beneficiaries who also doubles as the State Secretary, National Commercial Motorcycle, Tricycle Owners and Riders Association of Nigeria (NACTOMORAN), Adediran Fidelis, commended the federal government for the grant, saying that the fund came at the right time as his business was almost at ground halt.
“We got N30,000 each in our association and we are hoping to get another tranche of the fund. This is the second time we are getting the fund,” he said.
He called on the federal government to sustain the programme in its bid to provide welfare for its citizenry, stressing that initiatives such as these would help to address issues of kidnapping, banditry and other social vices.
Another beneficiary, Juliet Ugwuoke, said she was surprised she got the fund because she did not believe in it when she first heard about the survival fund.
She said the fund has helped her pull through the Covid-19 era, commending the federal government to sustain the programme in its quest to keep businesses afloat in the country. (The Guardian)
Business
Court dismisses suit by Bayelsa traditional ruler challenging Shell’s divestment,pollution
The Yenagoa Division of the Federal High Court on Friday dismissed a suit challenging the divestment of Shell from onshore assets.
The suit filed by King Bubaraiye Dakolo, traditional ruler of Ekpetiama in Yenagoa Local Government Area of Bayelsa also sought redress and remediation of cumulative pollution of Dakolo’s domain for 40 years.

Dakolo alleged that the divestment by Shell did not follow the stipulated guidelines in the Petroleum Industry Act (PIA) 2021.
However, presiding judge, Justice Ayo Emmanuel in a ruling dismissed the case for being filed out of time adding that under the statute, any objections to divestment on guy to be filed within three months.
Emmanuel also held that the traditional ruler lacked the ‘locus standi’ to institute the case as he had no role in the divestment.

The judge further stated that the plaintiff failed to explore and exhaust the conflict resolution mechanism mechanisms by the Nigerian Upstream Petroleum Regulatory Commission,
The judge noted that the failure according to the Petroleum Industry Act (PIA)asked the suit invalid.
“Plaintiff’s failure to satisfy the mandatory statutory conditions precedent under the Petroleum Industry Act (PIA) strips this Court of jurisdiction.
“The Plaintiff further contended that the injuries complained of constitute a “continuing injury, thereby creating a continuous cause of action that escapes the limitation periods.
“However, looking closely at the pleadings, the Plaintiff joins historical grievances stretching back decades with specific events that allegedly took place around 2024. A continuous injury means a recurrence of the legally wrongful act itself, not the continuous persistence of the injurious effects of a singular past act.
“From the facts presented, the alleged causes of action against the public officers (the 4th, 5th, and 6th Defendants) arose well outside the mandated 3-month period prescribed by POPA.
“Furthermore, the claims touching on tortious liability are caught by the 5-year limitation threshold under Section 16 of the Limitation Law of Bayelsa State,” Emmanuel ruled.
Reacting, Counsel to the Minister of Petroleum Resources, Lawrence Edet who spoke for the defendants thanked the court for dispensing justice to their favour.
Counsel to Dakolo said that they will pursue the case beyond the trial court and will be heading to the court of appeal.
Environmental justice group, Social Action in its reaction to the judgement expressed regret that the court had to ignore the quest for environmental justice and technicalities.
Dr Prince Edegbuo
Resource Justice Manager at Social Action said: “It is very very unfortunate that a matter as important as this that is gaining international traction in home countries where these international companies come from and the activities being condemned but our legal system finds it convenient to discard a case that has caused so much hardship and suffering on the people.
“The pollution had devastated the environment and denied people of their livelihoods and even affected the reproductive health of the people, it is heartbreaking that the Federal High Court struck out this case.
“We will meet at the Appeal Court, we will not relent, we shall continue to support the Ekpetiama people in this litigation, this is just the court of first instance,” he said.
Ekpetiama community is in the neighbourhood and part of host communities to the Gbarain-Ubie gas plant and Gbarain oilfields.
Listed as defendants in the suit No. FHC/YNG/CS/81/2025, are Shell Petroleum Development Company of Nigeria, Shell Petroleum N.V, Shell UK PLC.
Others are Attorney General of the Federation, The Nigerian Upstream Petroleum Regulatory Commission, Minister of Petroleum Resources and Renaissance Energy Africa Ltd.
It will be recalled that Renaissance Energy Africa, a consortium of indigenous oil firms in March 2025 acquired the onshore and shallow waters oil and gas assets hitherto operated by SPDC, following the divestments by Shell UK PLC, the parent company to SPDC.
Business
Dangote launches ₦500,000 reward program to encourage whistleblowing
•Says illegal goods on Dangote trucks to be confiscated
Dangote Industries Limited has intensified efforts to combat illegal haulage activities involving its trucks by unveiling a public whistleblowing initiative that offers a cash reward to individuals who provide credible information leading to the arrest of offenders or the interception of unauthorized goods and transportation of persons.
The company said the initiative, which will reward whistleblowers with N500,000.00 cash award, forms part of its broader commitment to protect the integrity of its logistics operations and eliminate the activities of unscrupulous individuals who illegally use Dangote-branded trucks to transport unauthorized goods.

In a statement issued in Lagos, the management urged members of the public to support the campaign by reporting any suspected cases of illegal haulage involving Dangote trucks, stressing that only specifically approved products are permitted to be transported by vehicles belonging to its various subsidiaries.

Dangote trucks
According to the company, Dangote Cement trucks are authorized to carry only cement, limestone, high-grade gypsum, coal and clinker, while Dangote Sugar Refinery trucks are restricted to the transportation of sugar products. Trucks belonging to NASCON Allied Industries are expected to carry Dangote Salt and DanQ Seasoning products, while Dangote Packaging vehicles are designated for bags and packaging materials.

Similarly, trucks operated by Dangote Petroleum Refinery and Petrochemicals are permitted to transport polypropylene products, while Dangote Fertiliser Limited vehicles are authorized for the haulage of urea fertilizer.
The company warned that any Dangote truck found transporting unauthorized goods would be treated as being involved in illegal haulage activities, adding that both the drivers and owners of such goods risk arrest, confiscation of the cargo and prosecution under applicable laws.
“Anyone with verifiable information that leads to the arrest of persons involved in illegal haulage activities or the recovery of unauthorized goods transported on Dangote trucks will receive a cash reward of Five Hundred Thousand Naira,” the company stated.
To aid investigations and enforcement efforts, the management of Dangote Group advised whistleblowers to provide detailed information when making reports. These include the truck type, registration plate number, cab number, location of the vehicle, description of the goods being transported, colour of the truck and photographs of the vehicle and cargo where possible.
The company has therefore established dedicated hotlines across its operations to receive reports relating to illegal haulage activities. Members of the public can report incidents involving trucks operating from the Obajana, Okpella and Gboko plants through certain dedicated telephone lines.
The Company stated that law enforcement agencies, including the Police, have been authorized to arrest any driver found using company trucks for unauthorized commercial haulage.
It reiterated its zero-tolerance stance against logistics-related fraud and called on the public to join hands with it in safeguarding legitimate business activities by exposing illegal operators.
Dangote Group emphasized that the initiative is designed not only to protect company assets and operations but also to strengthen transparency, accountability and compliance across its nationwide logistics network.
“Public cooperation remains critical in our efforts to eradicate illegal haulage activities. We encourage anyone with credible information to come forward and help us maintain the integrity of our transportation system,” the statement added.
The company reaffirmed that all reports would support ongoing efforts to protect the Dangote brand, promote lawful business practices and ensure that offenders are brought to justice.i
Business
Pipeline sale controversy deepens as expert warns of investor confidence risks
Fresh controversy has erupted over efforts to revive the sale of a 40 per cent stake in the Amukpe–Escravos Pipeline, with a governance expert warning that any attempt to resurrect a previously terminated transaction could damage investor confidence and raise fresh questions about transparency in Nigeria’s oil and gas sector.
Speaking on Channels Television on Thursday, June 11, 2026, Managing Director of Policy Management Consult Services, Jide Olatuyi, said concerns surrounding the transaction extend beyond commercial interests and strike at the heart of governance, transparency, and the credibility of Nigeria’s investment environment.

“The contract was terminated,” Olatuyi said. “What stakeholders are saying is that there is a need for a new competitive bidding process rather than attempting to revive a failed transaction.”
The controversy has intensified amid scrutiny of the asset’s valuation. The earlier transaction involving the 40 per cent stake was priced at approximately $243 million before collapsing over unmet contractual obligations. Independent assessments conducted in 2025 reportedly valued the same stake at between $544 million and $641 million.
The significant disparity between the earlier transaction price and the more recent valuations has fuelled calls for a fresh competitive bidding exercise to ensure that the asset reflects prevailing market conditions and delivers maximum value.

Rejecting suggestions that opposition to the proposed transaction is driven by sentiment or commercial rivalry, Olatuyi insisted that the debate centres on governance standards within the petroleum industry.
“I don’t think it is about sentiment at all,” he said. “It is about governance in the oil and gas sector.”
According to him, Nigeria’s challenge is no longer limited to attracting investors but also ensuring that investors have confidence in the integrity of the country’s commercial and regulatory processes.
“If you are not committed to transparency, it becomes a problem for investors,” he said. “If you cannot build trust and confidence in the sector, capital will go elsewhere.”
Olatuyi said several stakeholders, including project lenders such as Sterling Bank and AMCON, have advocated a transparent process that reflects current market realities and updated asset valuations.
The Amukpe–Escravos Pipeline, which has a transportation capacity of about 160,000 barrels per day and has maintained uptime above 95 per cent, remains one of Nigeria’s most strategic crude evacuation assets. The pipeline plays a critical role in transporting crude from inland production fields to export terminals in the Niger Delta.
Olatuyi urged authorities to ensure that any future transaction involving the asset is conducted through an open, transparent, and competitive process capable of inspiring investor confidence and safeguarding public value.
The debate comes at a time when the Federal Government is seeking to attract substantial investment into the energy sector and expand critical oil and gas infrastructure.
The eventual outcome of the Amukpe–Escravos Pipeline transaction could serve as a major test of Nigeria’s commitment to transparency, valuation discipline, and investor protection. As global competition for energy capital intensifies, governance standards may prove just as important as resource endowment in determining where investment flows.
Officials of the Nigerian Upstream Petroleum Regulatory Commission and members of the technical committee that supervised the original transaction did not respond to requests for comment as of press time.
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