By Ahmed Kaigama

The Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) trained more than 10, 000 young entrepreneurs in the North East region in 2020 on how to manage small businesses profitably.

Mr Isa Doguwa, the Zonal Coordinator, SMEDAN North East Region, disclosed this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Bauchi.

Doguwa said that compared to 2019, SMEDAN recorded huge success in terms of training and empowerment in the year under review.

“The agency is well known now with a lot of patronage from entrepreneurs in the region, it has trained and empowered more than 10,000 young entrepreneurs across the North East region.

“The training was a package to address the problems identified by SMEDAN leading to the failure of small businesses.

“We have taken time to train the young entrepreneurs on some deficiencies and we created a curriculum that would enhance their management skills.’’

Doguwa explained that beneficiaries were put through a sensitisation programme before the training on how to manage small businesses profitably.

“We like to reach as many Micro Small Medium Enterprises sector (MSMEs) as are crucial and imperative to achieve the goal of Micro Small and Medium Entrepreneurs (MSME)-led economic growth, industrialisation and job creation.

“The manual for the training includes how to become an entrepreneur, identity business opportunities, sales and marketing skills and how to secure capital to start a business.’’

Others, Doguwa said, were “to do business, how to keep business records, regulatory issues, developing business models and business plans’’.

According to him, the agency has a lot of packages on MSMEs development programmes for the entrepreneurs across the country.

He said that young entrepreneurs who have existing businesses were qualified to access grants through the process with commercial banks to manage their Micro Small Medium Enterprises (MSMEs).

The zonal coordinator said the intervention was to reinforce the agency’s commitment toward ensuring the ease of doing business for entrepreneurs.

He, however, called on all small and medium scale business holders to take advantage of the ongoing MSMEs mass registration taking place in the region and register. (NAN)

By Chinyere Joel-Nwokeoma

The nation’s bourse recorded its first loss in the year on Tuesday, dropping by N393 billion due to renewed profit taking on blue chips.

Specifically, the market capitalisation shed N393 billion or 1.83 per cent to close at N21.122 trillion from N21.515 trillion recorded on Monday.

Similarly, the All-Share Index lost 751.25 points or 1.83 per cent to close at 40,396.14 compared with 41,147.39 achieved on Monday.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; BUA Cement, MTN Nigeria Communications, Zenith Bank, Okomu Oil and Guaranty Trust Bank.

Market breadth was negative with 34 stocks losers, relative to 16 gainers.

Oando dominated the losers’ chart in percentage terms, losing 10 per cent to close at N3.33 per share.

FTN Cocoa followed with 9.72 per cent to close at 65k, while May and Baker shed 8.55 per cent to close at N3.21 per share.

FBN Holdings dipped 8.28 per cent to close at N7.20, while Associated Bus Company lost 7.89 per cent to close at 35k per share.

Conversely, BOC Gases led the gainers’ chart in percentage terms, gaining 9.72 per cent to close at N10.50 per share.

NEM Insurance trailed with 9.50 per cent to close at N1.96, while Sovereign Trust Insurance rose by 9.09 per cent to close at 24k per share.

Japaul Gold and Ventures went up by 8.82 per cent to close at 74k, while Livestock Feeds appreciated by 8.63 per cent to close at N1.51 per share.

However, the total volume of shares traded rose by 119.73 per cent as investors bought and sold 465.67 million shares worth N5.118 billion exchanged in 7,573 deals.

This was in contrast with a turnover of 211.93 million shares valued at N1.41 billion transacted in 3,438 deals on Monday.

Transactions in the shares of Transcorp topped the activity chart with 69.16 million shares worth N64.82 million.

Zenith Bank followed with 31.71 million shares valued at N788.33 million, while FCMB Group traded 26.594 million shares worth N80.21 million.

Japaul Gold and Ventures traded 26.04 million shares valued at N19.27 million, while Access Bank transacted 24.53 million shares worth N214.57 million. (NAN)

By Chiazo Ogbolu

Intels Nigeria Ltd., an oil and gas logistics company, has said its business has not been hindered by political influences from the present government.

The company made the clarification in a statement it issued on Tuesday, in Lagos.

It will be recalled that on Jan 4, Intels announced that it had severed ties with its former shareholder, former Vice President Atiku Abubakar, after the latter sold his interests in Intels’ parent company, Orlean Invest Holding.

The transactions were executed through Guernsey Trust, in deals that began in December 2018 and concluded in 2020.

However, Abubakar, who confirmed his divestment from the company, blamed President Muhammadu Buhari’s administration for trying to destroy the company because of political differences.

The spokesman for Intels Nigeria Limited–Orlean Invest Group, Tommaso Ruffinoni, said the company’s decisions had been devoid of political considerations as it had always operated according to market logic.

“Intels Nigeria Limited and its parent company, Orlean Invest Holding, in relation to some statements that appeared in the press yesterday and today, categorically deny that its business has at some time been hindered by political influences from the current government.

“The company has always operated according to market logic, thanks to its history and commitment to the development of the Nigerian economy in the oil and gas logistics sector.

“The ongoing contradictions are part of a natural commercial divergence, which will hopefully be resolved, as in the past, by a new approach, in the interest of all the parties, also according to the social role that Intels plays in the country. (NAN)

By Lydia Ngwakwe

The Tony Elumelu Foundation (TEF), on Friday in Lagos unveiled the TEF Entrepreneurship programme for 2021, to empower women and men across the African continent.

The Chief Executive Officer of TEF, Mrs Ifeyinwa Ugochukwu, disclosed this during an Online news briefing with Journalists across Africa.

She said: ” I want to welcome all of you as we unveiled the TEF Entrepreneurship Programme for 2021, the opening of the application portal which happened 12 midnight, Jan.1.

“As you all know, the TEF was founded in 2010, and in 2015, our founder, Mr Tony Elumelu, launched a 100 million dollars commitment to identify, train, mentor and fund 10,000 African entrepreneurs across all 54 African countries, over 10 years.

“So, 2021 marks the seventh edition of the TEF entrepreneurship programme,” she said.

She added that opening the portal on Jan. 1, marked a new beginning, a renaissance, a beginning of recovery and a beginning of Africa taking its space in the global space as a strong thriving economy, led by SMEs who are the largest generators of job creators on the African continent.

She said that the 2021 application would be different from what was done in the previous years.

“Previously when you apply for the TEF entrepreneurship programme, once you apply, you put in your business plan within the application and those selected will be trained and funded.

“But, this year, just as we did last year, we want to train a lot more than we would fund, primarily because the feedback we have got from our entrepreneurs is that trainings been critical to the success of their businesses,”she added.

Ugochukwu disclosed that the foundation had trained, mentored and funded over 9,000 African entrpreneur till date.

She expressed excitement that the Price Waterhouse and Coopers, in conjunction with TEF had completed an impact assessment report which according to her, would be released in the Q1, to mark its 10th year anniversary.

She also disclosed that the foundation had partnered with the European Union to fund and train additional 2,400 women on a TEF Entrepreneurship program for 2021.

According to her, this is in addition to many other partnerships that the foundation have been running through the years. (NAN)