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Senator Tokunbo Abiru Organizes Capacity Development Training For 1000 MSMEs In Lagos East



The Chairman, Senate Committee on industries, Distinguished Senator Mukhail Adetokunbo Abiru, FCA, on Monday organized a capacity development training for 1000 Micro, Medium and Small Enterprises, MSMEs in the Lagos East Senatorial district.

Abiru, an accomplished banker said the training was to enhance the capacity of micro, medium and small business owners in the Senatorial district to scale adding that lack of capacity had been identified as one of the major reasons MSMEs fail.

The one-day MSME Clinic/Workshop that was organized in conjunction with The Fate Foundation had major figures in the MSMEs ecosystem in attendance like the Managing Director, Bank of Industry, Mr Olukayode Pitan, The Executive Chairman, Lagos State Inland Revenue Service (LIRS) Mr Ayodele Subair, Executive Secretary, Lagos State Employment Trust Fund, Mrs Tejumola Abisoye, officials from Small and Medium Enterprise Development Association of Nigeria (SMEDAN) led by the agency’s Director of Planning Research, Monitoring and Evaluation, Mr Wale Fasanya and Standard Organization of Nigeria(SON) team led by the Head of SME desk, Mrs Phebean Arumemi and renowned business consultants.

Highlighting the critical roles MSMEs play in the nation’s economic development, the Senator said ‘’MSMEs account for the majority of businesses worldwide and are important contributors to job creation and global economic development. They represent about 90% of businesses and more than 70% of employment worldwide”’.

He continued; ‘’Formal SMEs contribute up to 40% of national income (GDP) in emerging economies. These numbers are significantly higher when informal SMEs are included. The latest SMEDAN/NBS MSME Survey indicates Nigeria’s SMEs contribute nearly 50% of the country’s GDP and account for over 80% of employment in the country.

“It has been projected by the World Bank that about 600 million jobs will be needed by 2030 to absorb the growing global workforce, which makes SME development a high priority for many governments around the world. In emerging markets, most formal jobs are generated by SMEs, which create 7 out of 10 jobs”, Abiru told the participants.

Abiru said it was therefore instructive to assist the struggling businesses who were mostly impacted by the devastating COVID-19 pandemic with workable business solutions in the new normal world.

The senator said that the knowledge pack, a combination of seven books written by foremost experts which were participant got for free are reference materials for now and future adding that their contents are the secret of success of most major businesses.

According to him, “Timeless and highly valuable literature on subjects of Tax Management, Human Capital, Financial Management, Marketing and Communications, Strategy, Legal and digital technology will be made available to you at the expense of my Foundation.

The leading Nigerian Entrepreneur pack is a practical “do-it-yourself manual” that will greatly aid your business decisions and strategies as you journey along.

“These materials are authored by the following foremost hands on world acclaimed professional firms with deep insights on the Nigerian business environment such as: ACCA, KPMG, Deloitte,Banwo and Ighodalo, Verraki Business Solutions for Africa, A’lime Media and StreSert.

To the admiration of participants and dignitaries that graced the occasion, the Senator announced the launching of N100,000,000(One hundred million Naira) soft business loan support trained MSMEs with working capital, as well as asset finance for equipment acquisition at a highly subsidized interest rate.

The N100million constituency Intervention revolving facility which be executed in partnership with Small and Medium Enterprises Development Agency, SMEDAN has minimum limit of N100,000 (One hundred Thousand Naira) and maximum of N1,000,000 (One million naira) with as low as 6% interest rate with flexible repayment plan from 1 to 12 months starting end of first quarter (Q1), 2022. The senator mulled plans to increase the revolving facility in the same sum on yearly basis.

The Bank of Industry (BOI) also agreed to commit additional 100,000,000(One Hundred Million Naira) to the scheme.

A former Lagos State Commissioner of Finance and Governor’s Advisory Council member, Mr Olawale Edun applauded the gesture of Senator Tokunbo Abiru describing the business aid as a great initiative.

Also, a former Minister of works, Senator Adeseye Ogunewe urged other elected public office holders to learn from the giant strides of Abiru. The former minister who accompanied Senator Abiru on touring business clinic consulting desks urged participants to place premium on the knowledge they had acquired in the course of the workshop and business clinic.

Adeola researches and writes original stories from national, regional and Lagos perspectives. She reports on general news and politics, as well as on sports, arts and culture, science and business. She also covers national and local events, entertainment and human interest stories.

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Top Secrets surrounding rental property investment in Lagos




Buying a rental property is a good step in the real estate business. However, I would advise that you shouldn’t barge into it without having some knowledge of what you are getting into. Despite having many people successfully running a rental property, still, it’s not easy money. There are obstacles, losses, risks, etc. but if you can figure it all out, then, you find it a successful investment.

Now, what do you need to know?

1. The property has to fit into what the people around want

This is very crucial. If you are buying a property close to the campus, be rest assured that 95% of potential tenants will be students. If you intend to make it a family home, then, you may find it difficult to get renters who are not students.

If people around are working class with good jobs, this will increase your property value because renters will be ready to buy at a premium price.

You need to put people whose population is higher into consideration before buying a property for rent. If it works, you can go ahead.

2. Location is as important as the air we breathe

If you want to get a good return on your investment, you need to be keen on location. Location can strengthen your investment, and at the same time kill it. It determines what value to be placed on it. If you buy a rental property, renovate and furnish it in underdeveloped areas, you may be disappointed in hearing the value people place on it. Also, if your rental property is in a place that is not all that motorable due to bad roads, or the roads always get flooded during heavy rainfall, this may be a huge obstacle to getting renters that would be willing to pay something worthwhile. And what is a business if you are not getting anything from it?

3. Check out the taste of structures within the locality

This should be highly considered because it’s a great determinant of having people interested in your property. Can you afford to have the property renovated up to taste? The property you are buying is not a new model, it is best to check out for structures around so you can make an adaptation or do something better. This helps you get renters easily and also willing to pay its value.

4. Renting property is dicey

The truth is you can’t be good enough, smart enough, and do everything right. Just a little mistake might make you lose the property. The fault may be or may not even be from the tenants or anyone.

Major damage such as fire outbreaks can ruin your investment. An economic downturn caused by anything, for example, a pandemic may make you lose money because if your tenants are unable to pay or move out without anyone showing interest in occupying, it’s a big loss on your part.

5. You are responsible for maintenance

As much as landlords try to avoid this part but at the end of the day, it falls back to you as the owner of the property. This is where you are reminded that it is your house and the responsibility to keep it together lies with you. This is a major reason some landlords take maintenance fees from tenants in case there is damage. However, this fee can just cover a little of the damage.

The major repairs still lie with the landlord whether he is willing to or not.

Apart from having damages, maintaining a house is the only means to keep a property whole.

Things have to be checked, adjustments have to be made and repairs have to be done.

All of these rest on the shoulders of the property owner.

6. Get everything documented

Everything about your property has to be documented. One of such is “agreement.” In Nigeria, many people take things for granted which may turn out to be a bigger issue sooner or later. Some houses have no landlord-tenant agreement for whatever reason. This shouldn’t happen in normal circumstances. When push comes to shove, that agreement which seems like a piece of paper to many might be the only evidence to bail you out.

And all documents concerning tenant evaluation and rent must be considered too.

Dennis Isong is a Real Estate Professional. He advises that before you buy any property in Nigeria, ensure you read this Real Estate Guide.CLICK THE LINK BELOW TO  DOWNLOAD  FOR FREE

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Why you should buy a property for rental income in Lagos




Lagos is a state in Nigeria that is highly populated, modern, full of prospects, and everything good. Just like they say that you can achieve anything in New York, Lagos is a city where you can achieve a lot because the city provides lots of opportunities and accessibility to getting closer to your dreams. 

This has motivated people all over Nigeria to migrate to Lagos because they see the city as their greener pasture.

In a place where the population keeps rising, it is expected that there would be a demand for houses for rent. 

Rental property is the new oil money in Lagos. And no matter how high your rent is, you already have a population that is ready to go for it.

So, why should you buy a property for rental income in Lagos?

1. Rapid economic growth

Lagos is leading in terms of business which helps the economy. The city is also considered Africa’s eighth-fastest-growing town in terms of population and is expected to be the world’s third-largest by the year 2050. The numbers speak for themselves with Lagos being responsible for more than 53% of production jobs, generating 25% of the national GDP, and consuming over 60% of the electricity of the country. Lagos is host to more than 2000 manufacturing businesses, and 200 financial institutions, and is also host to Africa’s biggest concentrations of small and medium-sized businesses.

2. The important need for rental properties

The rates of leasing in this city keep rising rapidly and this stands to promote the fact that a lot of people in Lagos are opting to rent over buying out properties. This is largely due to the usually massive cost of homeownership, high costs of land, and staggering costs of building construction. Developers are aware of this direction the industry is headed as approximately 75% of landowners already have plans to develop rental properties due to their ability to quickly provide a return on their investments as well as a large supply of the populace available to rent the very second construction is complete.

3. Stable political environment

Lagos has the most stable political environment when compared to other states in Nigeria. Since the return of democracy in 1999, Lagos has been under the control of the same political party and this ensures a continuum in governance, this is good for the real estate market because projects and developments are implemented according to the master plan. It also means that important projects that drive growth are not altered because of politics.

4. Infrastructural value

At this point, the biggest reason why Lagos is a great location for investments is an almost ridiculous rate of return of investments on real estate properties. The Lagos State Market Analysis presents Lagos as having some of Nigeria’s largest estate prices. The Lagos estate industry remained buoyant and, in some cases, flourished even when the value of the real estate in other states across the nation plummeted from the latest economic recession. A plot of land bought for 5 million in Lekki in the year 2006 could go for an average of 75 million now. It’s no surprise because real estate transactions occur dozens of times every day as more and more people seek to stake their piece of the blossoming city.

5. Bustling population

A population is undoubtedly a significant engine of development for the real estate industry, Lagos is easily Nigeria’s most populated state. The megacity has risen to about 22 million today from 1.4 million residents in 1970. Projections have estimated that at least 89 people move every hour to Lagos, which is more than 2000 people every day and nearly a million people every year. That’s a constant flow of bright-eyed citizens looking for accommodation, purpose, and fulfillment. 

Dennis Isong helps individuals invest right in Real estate. For questions on this article or enquiring about Real estate. Follow him on Youtube , Email or Whatsapp/Call +2348164741041

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LIFEPAGE sets to begin full operations in United States




In line with its vision to develop 1,000,000 homes across Africa by year 2041, LIFEPAGE is set to begin operations in the United States of America come September 2022.

According to a press release signed by the managing director of the organisation, Mr. Oladipupo Clement, the move is part of plans to reposition the LIFEPAGE Company as a global brand and to connect Diasporas of African descents to business and investment opportunities within the region and vice versa.

Part of the statement reads: “Recall that LIFEPAGE recently marked its 10th Anniversary and as a result of our remarkable growth over the last ten years, we are expanding! This expansion signals a great start into the new decade we have just begun. For us, our focus in the next 10 years and beyond is for global positioning. While we continue to empower entrepreneurs and executives in their crafts and respective enterprises, we will also be connecting them to business and investment opportunities around the world.

“As a company with its root in Nigeria, we have stayed true to our brand promise against all odds and we will continue to fulfill this promise year in year out. One thing we place premium on as an organisation is our name. As much as we will make money, we will not do so at the expense of our name.

“We are excited to announce this major and big move. The commencement of LIFEPAGE operations in the United States only marks the beginning of our global positioning and opportunities for our stakeholders both within and outside of Africa going forward. This will be an avenue to connect Nigerians and people of African descent to opportunities in Africa, and also to connect Africans to opportunities in America.

“Africa is an emerging market with loads of opportunities. However, its development lies mainly with Africans. As a company, our vision to develop 1,000,000 homes across Africa and the mission to help people create and retain wealth – primarily through real estate investments remain unchanged”.

LIFEPAGE began and still runs as a human capital and business development company and has since evolved. LIFEPAGE Nigeria started full operations in 2012 and LIFEPAGE America is next in line.

“With over 10,000 stakeholders from all over the world, LIFEPAGE has hosted over 200 conferences, webinars, seminars, bootcamps and masterclasses where incredible insights, strategies, and opportunities for creating and retaining wealth were shared. LIFEPAGE has completed and is currently working on more than 35 projects in cities such as Lagos, Abuja, Ogun, and Port Harcourt”, the company said.

“According to the Bureau of Labor Statistics Business Employment Dynamics, only about 30% (less than one-third) of all small businesses survive after 10 years. It is quite an accomplishment for us to have reached and surpassed the 10-year milestone. It’s therefore time for anyone who is in touch with this vision to come with us as we develop Africa. Like we say, if it’s not creating or retaining wealth, it’s not LIFEPAGE”, the organisation said.

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