MAW Royal Media

MAW NEWS BREAK: Update on Survival Fund The Hon Minister of State, Federal Ministry of Industry Trade and Investment and   Chairperson of the Steering Committee of the National MSMEs Survival Fund and the Guaranteed Off-take Stimulus Scheme, Ambassador Mariam Yalwaji Katagum wishes to inform the general public that due to operational challenges the commiitte will be effecting a change in the website of the fund.  The Survival Fund website will be migrating to www.survivalfund.gov.ng with effect from Sunday, 1st November 2020. The public is further warned not to pay anything for the ongoing Business Formalisation (CAC Registration) process or any of the packages under the scheme. The packages are absolutely FREE! A statement by the Project Delivery Officer further asked all those who have already registered on the platform not to re-register as their details will get transferred to the new portal.

OKOMU COMMISSIONS EIGHT (7) PROJECTS IN NEIGHBOURING COMMUNITIES In fulfillment of its commitment to attracting development to its neighbouring communities, Okomu Oil Palm Company Plc. has commissioned 7 projects in five (5) of its over twenty (20) neigbouring communities. The projects which cut across communities in Uhunmwonde, Ovia South West and Ovia North East local government areas of Edo State is part of Okomu’s annual corporate social responsibilities (CSR) to its neigbhouring communities. The projects commissioned include a Semi-Industrial Borehole at Irhue Community, and an ultra modern Town-Hall at Umokpe Community in Uhunmwonde Local Government Area. Others are a Semi-Industrial Borehole and a block of Market Stalls at Agbanikaka Community, in Ovia North East Local Government Area, an ultra modern town-hall and an domestic Borehole at Marioghioba (AT&P) community as well as a modern community town hall at Udo community Ovia South West Local Government Area. S...

Alibaba to kick off China's first post-pandemic 'Singles Day' early China's Alibaba Group Holding Ltd will kick off its mega-shopping extravaganza "Singles Day" early this year, a move that will likely see a big jump in its sales as the easing of the country's COVID-19 pandemic drives an economic rebound. The tech giant will offer two check out periods - a new one from Nov. 1-3 and its traditional 24-hour shopping window on Nov. 11. It says it will introduce more than 2 million new products, double the amount last year. This year's blitz is being watched as a barometer for how strong consumer appetite is rebounding in China, amid signs that a recovery in household spending has started broadening. Other tech players, like Douyin, the Chinese version of ByteDance's TikTok, JD.com and Pinduoduo are rolling out their own campaigns, some larger than others. Alibaba turned China’s informal Singles’ Day into a one-day shopping event in 2009 an...

Nigeria’s Power Generation Reaches Historic 5,459MW Nigeria’s power sector has recorded its highest national peak of 5,459.50MW, the Transmission Company of Nigeria (TCN) has said. In a statement issued on Friday, the General Manager, Public Affairs, TCN, Ndidi Mbah explained that this new record was achieved on Oct. 28. “This milestone in generation is higher than any peak ever recorded in the nation’s power industry as at date,” the TCN official noted. According to her, “The new peak surpasses the 5,420.30MW achieved on 18th of August, 2020 by 39.2MW. “The Acting Managing Director, Mr Sule Ahmed Abdulaziz, commended all the players in the power sector value chain as a result of the feat. “He attributed the gradual but steady improvement in the quantum of power delivery to collaboration by the sector players, as well as the unbridled effort by the Federal Government, through the Ministry of Power, in setting the right environment for seamless operations.”

Happy Eid-el-Maulud to all our faithful brothers and sisters.   In every shared smile and laughter, in every silent prayer answered, in every opportunity that comes your way, may the good times and treasures of the present become the golden memories of tomorrow. Wish you lots of love, joy and happiness. Happy Eid-el-Maulud from all of us @ MAW Royal Media

FREE 250,000 FG/CAC BUSINESS NAMES REGISTRATION FOR MSMEs Business formalisation Support of the MSME Survival Fund As part of Federal Government’s post Covid-19 Pandemic survival intervention to support micro and small businesses to formalise their businesses, the Federal Government has approved the free registration of 6,606 Business Names in each of the 34 states while Abia, Lagos and Kano will have 7,906, 9,084 and 8,406 respectively. Consequently, all interested Micro and Small Entrepreneurs, Artisans, Craftsmen/Women (one or more persons) that are yet to formalise their businesses should take advantage of this rare opportunity. Aggregators have been appointed to receive applications from interested persons in line with CAC requirements.  The free registrations will start on the 19th October 2020. Don’t be left out! Hurry now to any of the centres with the following documents to register your business: Three (3) Proposed Names Two (2) Passport sized photographs Vali...

Okonjo-Iweala Set To Lead World Trade Organisation Ngozi Okonjo-Iweala, Nigeria’s nominee for the position of the Director-General of the World Trade Organisation (WTO) is set to emerge winner of the competitive race. According to Reuters, a key group of WTO ambassadors proposed Okonjo-Iweala to lead the trade organisation on Wednesday, The official announcement is expected to be made later today by WTO. Okonjo-Iweala was Nigeria’s finance minister during the tenures of former presidents Olusegun Obasanjo and Goodluck Jonathan. She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization. Once officially announced, Okonjo-Iweala will be the first African and first female director-general of the international body in its 25-year history.

70,000 businesses to benefit from MSME Covid-19 funds – FG The Federal Government has reiterated its commitment to fully execute the N75billion Micro, Small, and Medium Enterprises (MSMEs) Survival Fund. It said the scheme, which is aimed at alleviating the challenges faced by small businesses during and after the Covid-19 pandemic, has so far attracted 432,000 applications from 12 states out of which 70,000 have been picked. The Special Assistant to the President on MSMEs in the office of the Vice-President, Tola Adekunle Johnson, disclosed this on Monday while giving an update on the scheme. He explained that the scheme “is different from Trader Money because it is not a loan but a grant”. “The payroll support goes straight to the beneficiary’s account with his or her bank identification number (BVN). We have completed data collection on this and hope to publicize it at the end of the scheme, we don’t pay through association,” he said.

FG approves fund for training of 500,000 youth on digital skills The federal government has approved funding for the training of 500,000 youth on digital skill acquisition. Sunday Dare, minister of youth and sports, disclosed this while speaking at the inaugural edition of the Nigerian Bottling Company (NBC) youth summit. Speaking on the topic ‘Strategic Roadmap for Youth Development post-COVID-19’, Dare said the programme was part of the ministry’s DEEL initiative – Digital skills acquisition, Entrepreneurship, Employability and Leadership — introduced in November 2019. Dare said the programme, which will run for the next 12 months, has been captured under the economic sustainability plan of the federal government. “The Economic Sustainability Plan (ESP) has taken into cognizance the DEEL initiative, and I am glad to announce that we have gotten approval for the funding of a 12-month programme under the initiative that will see 500,000 of our youths upskilled in different ...

Manufacturing Sector Sustains Slow Growth In Six Months, Contracts 49.4 In October Nigeria’s manufacturing sector has continued its contraction for the sixth consecutive month in October, the latest Purchasing Managers Index report from the Central Bank has shown. The manufacturing PMI witnessed a 49.4 points dip, below the 50 percent threshold used to aggregate activities and performances, since it started the contraction in May this year. According to the PMI report, eight subsectors from the 14 subsectors surveyed, had a slow contraction, while the remaining six recorded expansion above the 50 points. “Of the 14 subsectors surveyed, 6 subsectors reported expansion (above 50% threshold) in the review month in the following order: Electrical equipment, Transportation equipment, Printing and related support activities, Chemical and pharmaceutical products, Textile, apparel, leather and footwear, and Cement. “The remaining eight subsectors reported contractions in the follow...

APPLY: US consulate announces training for female entrepreneurs The United States consulate general in Lagos is taking applications for the 2020 Academy for Women Entrepreneurs (AWE). AWE is a US initiative that supports women entrepreneurs around the world. According to a statement by the consulate, 120 female entrepreneurs from across southern Nigeria will be selected to receive virtual and in-person training and mentoring. It added that 20 female migrant returnees will be supported with comprehensive rehabilitation and reintegration. The programme is scheduled to run from November till March 2021. Jennifer Foltz, acting public affairs officer of the consulate, explained that the goal of the AWE is to teach women around the world to become successful entrepreneurs despite the challenges of the COVID-19 pandemic. “One of the U.S. government’s goals is to promote entrepreneurship worldwide. Through the Academy for Women Entrepreneurs, we are doing just that by giving ambiti...

Dangote demands total ban on tomato importation The Managing Director, Dangote Tomato Processing plant in Kadawa, Kano State, Abdulkarim Kaita, has called on the Federal government to put a total ban on the importation of tomato paste into the country. He made the call while flagging off the distribution of tomato seedlings to 5,000 farmers under the Anchor Borrowers programme of the Central Bank of Nigeria on Thursday at Kadawa village in Kura Local Government Area. “We are appealing to the Federal Government to put a total ban on the importation of tomato like what it did to rice,” Kaita said. He said the call was necessary to boost local production of the commodity and ensure that Nigeria was self sufficient in tomato production. According to him, the ban on the importation of tomato paste would lead to the establishment of more tomato processing plants, thereby creating job opportunities for many people in the country. He lamented that the importation of tomato paste was still thri...

CALL FOR APPLICATIONS: 2021/2022 FEDERAL GOVERNMENT  SCHOLARSHIP AWARD The Honourable Minister of Education hereby invites interested and qualified Nigerians to participate in the 2021/2022 Federal Government Scholarship Awards Apply Here: https://t.co/y8FJD5Ocf5 https://t.co/LBYON30DCX

Naira slides to 460/$ at parallel market   The naira fell slightly at the parallel market on Monday, as it exchanged to the dollar for N460/$ as of the close of work. The naira had exchanged to the dollar on Friday for 458/$. This is as the country’s external reserves continued to maintain its downward trend. Figures obtained from the Central Bank of Nigeria revealed that the country’s external reserves which stood at $35.75bn as of October 02 had lost $78.34m to close at $35.67bn as of October 16. The CBN had stated in its report on ‘Monetary, credit, foreign trade and exchange policy guidelines for fiscal years 2020/2021’ that external reserves were expected to lie between $29.9bn and $34.3bn by 2020 ending. It said, “Sequel to the COVID-19 pandemic, the viability of the external sector in 2020 is expected to deteriorate, given the present worsening current account balance and depletion of external reserves driven, largely, by decelerating export receipts, particular...

View this post on Instagram Never get carried away by people's appraisal of you, you conscience is the best judge of who you are. A post shared by Mykel Okhuakhua (@mokhuakhua) on Oct 19, 2020 at 6:07am PDT via IFTTT