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the Governor of the Central Bank of Nigeria, Godwin Emefiele said it will focus on strategies to address current constraints to the growth of SMEs he said this At the opening ceremony of the 2015 retreat of the bankers community which took place at Eko Hotel and Suites in Victoria Island, Lagos Thursday, December 10, 2015. The retreat which is the 7th in its series has the theme: Creating an Enabling Environment for SME Growth'. Emefiele who is also the Chairman of the Bankers Community added that the retreat will focus on the key infrastructures needed for SME growth in the country such as the issue of power and transportation, he talked about the opportunities in sectors like Agriculture, manufacturing and solid minerals. Dignitaries present at the opening ceremony are: the executive Governor of Lagos State, Mr. Akinwunmi Ambode; the Minister of Finance, Mrs. Kemi Adeosun; and the Minister of Transportation, Hon. Chibuike Rotimi Amaechi. Also present were Deputy Governors and Directors of the Central Bank of Nigeria as well as Managing Directors and Chief Executive Officers of deposit money banks, among many others. The following persons are expected to make presentations at the retreat: Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola; the Minister of Agriculture, Chief Audu Ogbeh; and the Minister of Solid Minerals, Dr. Kayode Fayemi. Personally I think it is a good thing at this time that the Nigerian bankers community is holding a retreat where issues that affect Nigeria's SME's will be among the subjects of discussions. http://www.mylastkobo.com/2015/12/cbn-to-focus-on-strategies-to-develop.html |
When we say small businesses are important to a nation's economy, just how important do we think they are? and in what ways do we think they serve this importance? In a Nation where the Government does not pay attention to small businesses and produce few policies that will help protect and build its small businesses the small businesses in that country will end up contributing less to the nation's economy, why? Poor policy making: SME's are supposed to bring about substantial local capital formation, they are supposed bring about an increase in rural and urban development but in the situation wereby a nation keep introducing policies that are inimical to the growth and development of its Small Businesses, that nation's small businesses will suffer and they will end up contributing less to the nation's economy. Poor SME supporting infrastructures:In a place like Nigeria where most small businesses rely on private generators for electricity, the contributions of small businesses to the nations economy in the area of electricity revenue will be substantially reduced, SME's are supposed to be among the top customers of electric power distribution companies but due to poor electricity the distribution companies are being neglected by some businesses who would rather run on generators. If there is a good system of transportation in the country e.g railway, waterway and cheap air travel fairs, small businesses will greaty utilize them instead on relying on private transport to move goods and services around the country, this will not only increase the contribution of small businesses to the nations economy it will also help small business owners to carry out their business in an atmosphere of affordable comfort. Access to low interest loans and other business grants: access to loan and other forms of funds is also one of the factors that would help small businesses perform better putting them in a better position to contribute to the nation's economy. Illegal business practices: SME's operating outside the nations economy and legal structure will do little for the nations economy e.g SME's operating on banned products and services, tax evasion e.t.c this Businesses will do more harm than good to the nation. Poor Taxation system: If a nation is unable to come up with an effective taxation system for the effective taxation of businesses within its borders, then it should be ready to accept less contribution from businesses within it to it's economy. Indifference to changing trends: When small businesses in a country refuse to structure their business in such a way that it would reflect compliance to changing global and domestic trends, trends and mode of operation that would suit the national economy, such businesses may end up contributing less to the nation's economic growth. http://www.mylastkobo.com/2015/12/factors-affecting-contributions-of-smes.html |
Buhari's policies are inimical to the Nigerian small business sector. |
machidoh:poor navigation, poor categorization, poor archived page navigation. Your blog is trash. I am so sorry I had to say that, blogging is not business if you can't blog do something else, virtually all your post are recycled post from NL and other sites, how long can you keep that up? Why didn't you build a blog and write about laziness, cus I think you may have one or two experience on the topic. |
The last administration under President Goodluck Jonathan introduced several policies to enhance the growth in the Nigerian Small Medium Enterprise sector and one remarkable example was the YOUWIN Program and other programs, some of these SME oriented programs have since been abandoned by the present administration whose main focus is on the fight against corruption. It is not too early to say that Buhari's administration may not favor the Nations struggling SME sector considering the Presidents body language towards policies that affects Small Businesses, first a Ban was placed on the importation of small generators which is the main stay of most of the Small Businesses in the country, a nation which is faced with severe electricity distribution problems, most Nigerian Businesses run on generators all through their Business hours and as if running a business in Nigeria was not hard already the Controller of Federation Operation Unit Zone A of the Nigerian Customs came out on Tuesday , November 17,2015 to announce that the federal government had placed a ban on the importation of low cost generators(i better pass my neigbour) due to the adverse effect it has on the environment, that was Buhari's first body language that suggested his policies may not be too fair to small businesses in Nigeria. 7 months after the inauguration of the new Government the President still haven't shown any sign of having a coherent policy directed at boosting Small Medium Enterprises in the country and in effect creating employment. Several commentators like Opara Prince from Naij.com and other commentators from Nairaland.com criticized this policy and described it as " a targeted action against a significant amount of some unfortunate /distinguished groups...most especially SME's. The Nigerian Electricity Regulatory Commision under this present Administration is presently considering the increase of electricity tariff in 2016, this would mean that Nigerian Citizens and Business owners may have to pay more for electricity in the coming year. The Present Administration is working towards removing fuel subsidy in 2016, this would have certain implications on Nigerian Businesses and Citizens as they will have to pay more for petrol and kerosine. those who live in Nigeria know how much the Nigerian People spend daily on petroleum to power their homes and businesses even while there is still fuel subsidy, most of us small business owners do not want to know what doing business in Nigeria would look like with a ban being placed on the importation of small generators, fall in Naira value and removal of fuel subsidy. If the President continue with this kind of policy or "body language" towards SME's it may become harder to do Business in Nigeria under this administration. Posted by the author from here http://www.mylastkobo.com/2015/12/will-buharis-administration-favor.html?m=1 |
all we ask is that he come up with a coherent SME oriented policy by 2016 |
agabaI23:it is dangerous for every business of that I am sure and it will also make setting up a business in Nigeria more expensive. His policies on SME are not yet defined, one can only wait fingers crossed and see what will happen after 2015 |
Nigeria is a raw material exporting country and finished goods importing country, the fall in naira value will have dangerous consequences. |
The last administration under President Goodluck Jonathan introduced several policies to enhance the growth in the Nigerian Small Medium Enterprise sector and one remarkable example was the YOUWIN Program and other programs, some of these SME oriented programs have since been abandoned by the present administration whose main focus is on the fight against corruption. It is not too early to say that Buhari's administration may not favor the Nations struggling SME sector considering the Presidents body language towards policies that affects Small Businesses, first a Ban was placed on the importation of small generators which is the main stay of most of the Small Businesses in the country, a nation which is faced with severe electricity distribution problems, most Nigerian Businesses run on generators all through their Business hours and as if running a business in Nigeria was not hard already the Controller of Federation Operation Unit Zone A of the Nigerian Customs came out on Tuesday , November 17,2015 to announce that the federal government had placed a ban on the importation of low cost generators(i better pass my neigbour) due to the adverse effect it has on the environment, that was Buhari's first body language that suggested his policies may not be too fair to small businesses in Nigeria. 7 months after the inauguration of the new Government the President still haven't shown any sign of having a coherent policy directed at boosting Small Medium Enterprises in the country and in effect creating employment. Several commentators like Opara Prince from Naij.com and other commentators from Nairaland.com criticized this policy and described it as " a targeted action against a significant amount of some unfortunate /distinguished groups...most especially SME's. The Nigerian Electricity Regulatory Commision under this present Administration is presently considering the increase of electricity tariff in 2016, this would mean that Nigerian Citizens and Business owners may have to pay more for electricity in the coming year. The Present Administration is working towards removing fuel subsidy in 2016, this would have certain implications on Nigerian Businesses and Citizens as they will have to pay more for petrol and kerosine. those who live in Nigeria know how much the Nigerian People spend daily on petroleum to power their homes and businesses even while there is still fuel subsidy, most of us small business owners do not want to know what doing business in Nigeria would look like with a ban being placed on the importation of small generators, fall in Naira value and removal of fuel subsidy. If the President continue with this kind of policy or "body language" towards SME's it may become harder to do Business in Nigeria under this administration. this was posted by the original author from here http://www.mylastkobo.com/2015/12/will-buharis-administration-favor.html |
[img]http://2.bp..com/-UoFA9mrpH3A/VnT-FLx3fFI/AAAAAAAAAbs/srqTDwEJVrI/s1600/mylastkobo%2Bnaira%2Busd%2Bcopy.jpg[/img] Nigeria is one of the most affected countries by the falling oil prices, this is simply because Nigeria depends on its trade in oil and gas for finance, so as the oil prices fall, our Naira will be devalued to meet up with global realities, Nigeria is solely dependent on importation of finished products and a lot of young Small Medium Enterprises may directly or indirectly be running a mini importation business or a business that is importation reliant. When a nation devalues her currency she is deliberately trying to increase gain in tradable items but however cost of goods and services will become very cheap in the country compared to the other nations with stable currency, so when you want to use your currency to purchase from other Countries whose currency still have value e.g China, U.S, Japan and Germany, you will have to pay more every good you buy, take for example those running a mini importation Business that is reliant on buying things from China or the United States, if you were using 15,500 NGN to buy a 100 USD worth of product 2 years ago as the Nigerian currency is being continously devalued you may end up paying up to 20,000NGN for the same product in 2015. So the fall in Naira value comes with certain implications for Nigerian Small Business owners and i think what Nigerian Importation based businesses need to be doing right now is to start seeking for locally available alternatives to foreign products e.g raw materials and some selected finished products that could be sourced locally. The year 2016 may not come with new miracles for the Nigerian Naira or the Economy as the gradual fall in crude oil price is digging a deep hole in the nations economy and crude oil price is still even being predicted to fall further.for SME owners, the importation based businesses, internet businesses and bureau de change officials will be the worst hit by this development. And i think we should all gear up for 2016 because in 2016 comes more struggle. Posted by the original author from here http://www.mylastkobo.com/2015/12/how-drop-in-naira-value-might-affect.html |
youngmoneypi:is the Navy producing a class of light patrol boats. |
africaken:lol. Funny post. Or maybe if Nigeria agree to join the coalition they will agree to stop sponsoring BOkoHaram. Yeye people. |
overhypedsteve:poetry is an art form. |
africaken:could you please explain the content of that clip my network is lagging. |
SUGARBEE:thanks. |
Rhh |
FighterPilot:I being more intellectually sound on the topic of South African history than most of her historians would like to say that you have put up a very strong but fallacious argument on this issue. And this may not be unrelated to the fact that you a strong critic of Nigeria's Geopolitical efforts. However Historical events do not just change because of personal opinions. The Importance of Nigeria's role in the Apartheid struggle can only be downplayed by few disgruntled Elements who believe The effort of foreign Nations is always superior to that of African nations, but however History will remain what it was. |
CharlyG1:I am not a very good Christian but I pray, and I see some signs and I write them down. This signs always unfold in future events. |
ITbomb:That's also true. Few Nigerian SME starting up will be able to afford a solar power system. Let's us just hope power improves. |
[img]http://1.bp..com/-cpcAsXllkw0/Vk73KqHdWlI/AAAAAAAAAVY/H2MtPXCwJIQ/s1600/I-PASS-MY-NEIGHBOUR%2Bmylastkobo%2Bcopy.jpg[/img] There are sometimes when Government would make some decisions and we will begin to wonder if they like us at all. Nigeria is known for one thing and that is poor electricity supply to its people and to its Industries and Businesses, this had been a major challenge for small Businesses But as they always say "in Naija Man must survive" so Small Businesses in Nigeria have to found a way of solving this problem by purchasing small power generators popularly known as "i pass my neighbour Generator" in Nigeria. This have been the major power source for Nigerian Small Businesses but things are about to change, but with the recent ban of the importation of small generators in Nigeria one can only forsee the damage this will cause for our small medium business owners, Businesses will lose their only cheap source of electricity, the cost of setting up a small business in Nigeria will have to increase because newer businesses will have to buy bigger more expensive Generator set to power up their businesses. this ban on the use of small generators will introduce small business owners into a harsh and unfriendly atmosphere were they will have to spend more to get power to run their businesses. One option that would have been open to small businesses in Nigeria would have been solar power, but even that is very expensive. so this policy has in effect increased the cost of setting up a small business in Nigeria. Government world over are known for creating an enabling and friendly environment because of its important in creating jobs for citizens and its input into the economy. but with this action by the presesnt Nigerian Government people are begining to wonder if the new Nigerian Government is SME friendly and what the future of SME would be under his Government. Source: http://www.mylastkobo.com/2015/11/increase-in-start-up-cost-for-nigerian.html?m=1 |
Henry240:lol. He wants to post pictures of his own Gripen. Nice one @Oga Henry. We all want to see our country colours on brilliant platforms, but let us not hurt ourselves dreaming. |
giles14:now I can read the comment again and not go crazy. ![]() |
Patchesagain:isn't it a shameful thing to boast with a position that you are not qualified for to someone that is better qualified for it? Even in Africa Egypt is more qualified for the G20 than South Africa. Your BRICS membership was given to give a proper representation among members of NAM and developing economies, but it should be noted that most reporters and writers have refused to refer to it as BRICs and have insisted in retaining the old BRIC. Despite the addition of ZA into the organisation. As per G20 South Africa is the 24th largest economy in the world, while Nigeria is the 22nd largest economy so do your calculation and tell me who is better qualified for membership of this organisation. |
carnegiefan:Turkey can continue to be in NATO, Turkey can bring a war upon itself that the jurisdiction of the NATO alliance was not meant to cover if she does that, then it would be curtains for NATO, most NATO member realising the true meaning and structure of NATO and its non provocative clause, they will start leaving NATO, immediately they leave NATO the world will experience a new series of alliance reshuffling that will lead to the creation of the new world order. |
DerideGull:Russia will bombard turkey to the Stone Age if Turkey attack first. Take for example if it was proven that Turkey downed that Jet in aggression and not defense. NATO is not an attacking alliance but a defensive alliance we should try not to confuse this. |
BlackBaron:our country is at war. All those found guilty of stealing money meant for the equipping and the welfare of troops should be seen as traitor saboteurs and they should be executed as a lesson. We live for impunity in Nigeria, somebody have to be made a scape goat. Saboteurs should pay the ultimate price for allowing this war lag on for this long. How can you use the money meant for buying quality APC's to protect young men fighting for the nations peace, you just rationalize inside your sitting room and say "wetin those people wan use that kind expensive motor do?" Abeg make I buy more hilux. Then you buy more soft skinned vehicles. The soldiers will happily accept them, they are not used to demanding too much from their Father land, they may even think if the money was there for a better platform it would have been supplied. They will ride in those soft skinned vehicle to their death. Then the big belle Oga will be invited to honor their burial ceremony were he may be called upon to speak on the young men bravery, it is not even like the money is going to be spent on something tangible self, the polithieves may just use the money to add another Porsche to his collection or send his kids on a trip to Dubai. I used to say we have some of the most unpatriotic disgruntled elements at the helms of affair but now I think we are a nation that is suffering a series of misfortune to always have animals in power who do not care more about the national interest as they care about their wives and kids spending the weekend in Dubai shopping. |
mazeltov:I said AESA rader does not perform well against ground target and you threw a tantrum and wrote s long testament that have not one single fact to disprove my point. I told you AESA rader does not perform well against ground target and you went off searching the whole internet about details to disprove me but unfortunately you wrote a lot of smart sounding out of point garbage. That did enough to help your argument as you would have achieved if you wrote a nursery rhyme in place of those technical jargons. Turning a rader is the same as turning off stealthiness that is why most advanced fighters rely on AWACS for target Aquisition. but I think there is still a lot of thing that you still have to know about how the S400 operate. The s400 systems being deployed to Russia are data linked to each other meaning they won't have to each carry their own rader. Target co-ordinates can be sent to the systems anywhere they are in Syria. So the issue of each battery emitting signal to compromise its position may not happen. Now please if you don't mind. I will like us to agree to disagree if you prefer it to be so. Since you have insisted on not benefiting yourself with the free intellectual donations I am making. It is now clear that we can no longer debate on common ground. I find it hard to debate with someone that would run off in search of answers online to answer my questions, you should be able to at least answer me without the help of Wikipedia. |
Henry240:we look forward to more pro African defense procurement in 2016. |
OBAGADAFFI:every system malfunctions. If Russia is sending anything to Syria then you can be sure that they will be sending in tech crew and spares. There is no doubt that with such an advanced air defense system in Syria, western allies aircrafts will have to operate within the framework of the Russian/western agreement, meaning western bomber might have to give the details of their sortie and flight route out to Russian authorities. |
mazeltov:what we have here is a chronic case of verbal diarrhea and alternative personality disorder, a very unpleasant and dangerously fatal combination for one man. AESA raders are very great inventions but not to great in seeking out ground targets. Permit me to say that AESA raders have existed since the gulf war. It is very easy to hide mobile launchers under camouflage nest, that even an AESA rader will interpret it to be just desert sand or bush, pending when the pilot and his plane will be brought down by the launcher. For NATO to effectively carry out attacks on Russian Airdefense systems they will need to send a lot of birds into the sky. That will be like sending Goose out for shooting practice. Because they will not have the luxury of time. |
Lol. Locating mobile launchers from the air is like looking for needles in a hay stack. America experienced that during the world greatest mobile launcher hunt, the scud missile hunt during the Iraq/Kuwait war. NATO could have said they will be able to take out mobile rocket launcher in a country as large as Syria. Well she should remember she is not hunting large cruise missile launchers but surface to air air defense systems that have the capacity to defend themselves. NATO would be sending Her planes on a suicide run. You don't just hunt for the world most advanced air defense system. It is suicide. |
agaugust:so they didn't deem it fit to snap pictures but they went ahead to snap pictures of the old geezers watching the show? Our Naija self. All is well sha. All we need do is improve on our defense reporting. |
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nigeria troops in syria and iraq 