Partnership aims to expand credit guarantees and financial literacy for small businesses as government targets job creation

The National Credit Guarantee Company Limited (NCGC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) signed a Memorandum of Understanding (MoU) on Monday at the NCGC headquarters in Abuja, sealing a new partnership designed to improve access to finance for Micro, Small and Medium Enterprises (MSMEs) across the country.

The agreement outlines plans for joint programmes in financial literacy, credit guarantee support, capacity building, and other initiatives focused on strengthening small business growth. Key officials present at the ceremony included Minister of State for Finance, Dr. Doris Uzoka-Anite; Permanent Secretary of the Ministry of Finance, Lydia Jafiya; NCGC Managing Director/CEO, Dr. Bonaventure Okhaimo; ED Strategy and Operations, Tinuola Aigwedo; and ED Risk Management, Prof. Ezekiel Oseni.

MSMEs account for a significant portion of Nigeria’s economic activity and job creation. However, many face serious obstacles in accessing affordable credit due to high risk perceptions among lenders. The NCGC was established by government to provide credit guarantees that reduce these risks and encourage more lending from banks and other financial institutions.

Speaking at the event, Okhaimo said the partnership with SMEDAN would create a stronger framework for expanding finance options available to MSMEs nationwide. According to him: “Small businesses are central to Nigeria’s economic development agenda. This collaboration will help us deliver more targeted support so they can access finance, grow their operations and employ more people.”

Minister Uzoka-Anite described the agreement as an important milestone in government’s efforts to stimulate inclusive economic growth. She noted that enhanced cooperation between key agencies like NCGC and SMEDAN is expected to unlock new opportunities for entrepreneurs while also supporting President Bola Tinubu’s Renewed Hope Agenda on job creation.

With this MoU now in place, both agencies are set to roll out joint initiatives targeting MSMEs in every geopolitical zone. Officials say further details on implementation timelines will be released in coming weeks.

Source: https://guardian.ng/business-services/ncgc-smedan-sign-agreement-on-msme-financing-support/

Aviation body says high levies hinder growth, seeks government intervention after strained Nigeria–South Africa trade ties

The Airline Operators of Nigeria (AON) has called on the federal government to urgently review multiple aviation taxes and charges that it says are stifling the sector’s growth, while also advocating an economic boycott of South African businesses in response to perceived unfair treatment. The AON made this appeal in Lagos on Wednesday, highlighting concerns over rising costs and what it described as unfavourable bilateral relations with South Africa.

According to the AON, domestic airlines are grappling with numerous levies, taxes and statutory fees imposed by regulatory agencies, which they argue are driving up operational costs and making air travel less affordable for Nigerians. The group said these charges have become a major obstacle for indigenous carriers trying to compete both locally and internationally.

The call for a boycott of South African interests follows recent tensions between Nigeria and South Africa over trade and diplomatic issues. The AON warned that continued patronage of South African businesses by Nigerians undermines local industry, especially given what it described as South Africa’s restrictive policies towards Nigerian airlines and investments.

In a statement made available after its meeting, the association urged the federal government to initiate policy reforms that would harmonise aviation taxes and ensure a more conducive environment for operators. The group also appealed for reciprocal actions in Nigeria’s dealings with countries that impose barriers on Nigerian businesses. “We can no longer fold our hands while Nigerian airlines suffer under the weight of excessive charges and lack of reciprocity,” the AON said.

It is expected that the Ministry of Aviation will engage stakeholders on possible tax reforms in coming weeks. Industry observers say a review of levies could lower fares for travellers and boost competitiveness among Nigerian airlines. The government has not issued an official response as at press time.

Source: https://www.premiumtimesng.com/business/business-news/890284-aon-seeks-review-of-aviation-taxes-economic-boycott-of-south-africa.html

Hearing set for Wednesday as activist seeks reinstatement of bail, with legal teams presenting arguments before Federal High Court

A Federal High Court sitting in Abuja will deliver its ruling on a request for bail restoration filed by detained activist Omoyele Sowore on Wednesday, 24 June 2026. Sowore, a prominent rights campaigner and former presidential candidate, is seeking the reinstatement of his bail after being held in custody over alleged breaches of previous court conditions.

The legal proceedings resumed this week with both Sowore’s defence counsel and representatives of the federal government presenting their arguments before the presiding judge. The activist’s lawyers maintained that his continued detention contravenes existing court orders, while the prosecution insisted that Sowore had violated terms of his earlier bail, necessitating further judicial review.

Sowore’s case has drawn significant attention within Nigeria’s political and civil society circles, especially given his history as a vocal critic of government policies and organiser of protests. Many observers view the outcome as a test for the independence of the judiciary and the extent to which fundamental rights are protected under current legal frameworks.

Court officials have not made public statements regarding the specifics of the bail application. However, sources within the judiciary indicated that both sides were given opportunity to submit additional documents ahead of Wednesday’s ruling. Civil rights groups have urged authorities to respect due process regardless of the outcome.

If granted, restoration of bail would allow Sowore temporary freedom pending further hearings on the substantive charges against him. The ruling could also set a precedent for future cases involving activists and opposition figures facing detention under similar circumstances.

Source: https://www.premiumtimesng.com/news/top-news/890280-court-to-rule-on-detained-sowores-request-for-bail-restoration.html