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SMEDAN begins matching fund programme for agro-based SMEs

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SMEDAN begins matching fund programme for agro-based SMEs

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in partnership with Sterling Bank Plc, has started a matching fund programme for agro-based Nano, Micro and Small Enterprises (NMSEs).

This is contained in a statement issued on Sunday in Abuja by the Head of the Corporate Affairs Division of the agency, Mr Ibrahim Mohammed.

Mohammed quoted the Director-General of SMEDAN, Olawale Fasanya as saying that the intervention was to deliver credit to the sub-sector in six selected states of Anambra, Bayelsa, Delta, Ebonyi, Ekiti and Osun.

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According to Fasanya, the programme is a promotional mechanism to enhance enterprise output, competitiveness as well as job creation and the disbursing entity, under the programme, shall be Sterling Bank Plc.

He identified Nano, SMEs operating in the real sector with value-added agricultural products as the target beneficiaries for the programme.

Fasanya said that prospective beneficiaries may apply for financing within the range of N500,000 and N2.5 million.

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“The interest rate applicable on all financing under this programme shall not exceed single digit per annum.

“The financing tenor is for a maximum period of 30 months effective from the date of first disbursement.

“This is inclusive of the moratorium which may vary between three to six months depending on the type of enterprise,’’ Fasanya said.

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He further said that applicants or enterprises wishing to apply must be within the agribusiness value chain.

“The applicant/enterprise must have a Corporate Affairs Commission (CAC) registration or state-approved registration and a movable asset to be registered under the National Collateral Registry (NCR),’’ he said.

Fasanya said that NMSEs can apply by clicking the icon smedan/sterlingbankmatchingfundprogramme on the SMEDAN website (www.smedan.gov.ng).

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According to him, once migrated to the smecredits portal, pre-qualification of applicants shall commence.

“Pre-qualified applicants shall be required to pay a processing fee of N10, 000 for the business plan template on the platform. A separate training fee is not required,’’ Fasanya said.

(NAN)

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Tinubu arrives Katsina to receive Buhari’s body for burial

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President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.

The News Agency of Nigeria (NAN) recalls that Vice-President Kashim Shettima departed London in the early hours of Tuesday with the remains of Buhari back to Nigeria.
On arrival at the Umaru Musa Yar’adua Airport Katsina, Tinubu was received by Gov. Dikko Radda,  former Vice-President Yemi Osinbajo, governors, Chairman of Dangote Group, Alhaji Aliko Dangote, Deputy Senate President, Jibrin Barau, and Speaker of the House of Representatives,  Tajudeen Abbas.
Others are Ministers, former governors, former and serving Senators, Alhaji Dahiru Managl,  former Minister of Information and Culture, Lai Mohammed, members of the All Progressives Congress (APC) National Working Committee (NEC), amongst others.
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“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

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Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.

Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.

“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.

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Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.

“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.

Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.

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“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.

Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.

“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.

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On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.

The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.

Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.

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King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

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His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.

In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.

King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”

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He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”

Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”

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