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Moniepoint, SMEDAN set to launch Nigeria’s Informal Economy Report in Abuja
Africa’s fastest growing financial institution according to the Financial Times, Moniepoint MfB in conjunction with the Ministry of Industry, Trade, and Investment, and Small and Medium Enterprise Development Agency of Nigeria, SMEDAN is set for the launch of Nigeria’s Informal Economy Report 2024 holding in Abuja on the 5th of July 2024 at the Abuja Continental Hotel.
Babatunde Olofin, MD Moniepoint MFB
Speaking on the impending launch, Babatunde Olofin, the bank’s managing director said “the report signposts Moniepoint’s commitment to deepening the resource pool for policy makers in Nigeria and the financial ecosystem stakeholders, by providing a fresh and holistic viewpoint and critical analysis on accessing the informal economy, opportunities for growth and vivid portraits of the informal sector players as well.
Nigeria’s informal economy plays a crucial role in the nation’s economic landscape. Its importance is signposted by the employment opportunities it provides for a significant portion of the Nigerian population, particularly for those who may not have access to formal employment. This space also serves as a primary source of income for many households, contributing to poverty alleviation.
According to Director General/CEO SMEDAN, Charles Odii, “Nigeria’s approximately 40 million small businesses that reside in the informal sector are born of both necessity and entrepreneurial zeal, they exemplify the famous ‘hustling’ spirit that unites Nigerians across social divides and is responsible for the employment of millions.
“Ensuring their survival and catalyzing their growth is crucial for poverty elimination, rural industrialization, and the enhancement of livelihoods, all three core mandates of SMEDAN.”
Some of the dignitaries expected at the event are Vice President, Federal Republic of Nigeria, Alhaji Kashim Shettima, GCON, Hon Minister of Industry, Trade and Investment, Hon (Dr) Doris Nkiruka Uzoka-Anite, Registrar General/CEO, Corporate Affairs Commission, Hussaini Ishaq Magaji, SAN, Special Adviser on Economic Affairs, Office of the Vice President, Dr Tope Fasua, SSA to the President on Entrepreneurship in Innovation & Digital Economy, Jennifer Adighije, House Committee Chairman on Small and Medium Scale Enterprises (SMEs), Hon. Mansur Manu Soro among others.
The Nigeria’s Informal Economy Report has been curated as a must-read for individuals and organizations interested in understanding the dynamics of Nigeria’s informal economy and shaping a more inclusive and sustainable economic landscape. The Moniepoint brand has long championed the importance of financial inclusion and financial happiness even as improving business and consumer access to the financial system is core to Moniepoint’s philosophy.
Industry experts have averred that this collaborative exercise between Moniepoint, SMEDAN and the Ministry of Industry, Trade, and Investment represents an important milestone that will catalyze Nigeria’s informal economy while giving a huge boost to the Renewed Hope Agenda of President Bola Ahmed Tinubu as all stakeholders continue to show resolve in helping the informal economy thrive and surpass its current contributions to Nigeria’s economic aspirations
Nigerian Communication Satellite (NIGCOMSAT) Ltd has signed an agreement to provide internet service on the NigComSat-1R network platform to Dimension Data for one year initially, using the Ku dedicated band.
In a statement signed by Mrs. Aisha Bantam, assistant general manager of Corporate Affairs, NIGCOMSAT, this agreement aligns with the efforts of the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, to revitalize the nation’s economy through the provision of satellite technology.
The partnership was sealed by Mrs. Jane Nkechi Egerton-Idehen, chief executive officer NIGCOMSAT Ltd, and Mr. Olugbenga Olabiyi, country director, Dimension Data.
Mrs. Egerton-Idehen, expressed optimism about the partnership and affirmed that NIGCOMSAT will provide excellent services to its clients, having upgraded its facilities to cutting-edge technology.
She said NIGCOMSAT is now competing well in the global satellite market with the view of taking its rightful position: “Though we are in the market now, we are not late, and I can assure you that we are here for business.”
Mrs. Egerton-Idehen further stated, “We just finished a pilot scheme with this client and signed a Master Service Agreement. We are glad that the Country Director, Gbenga Olabiyi, and his team were happy with the results of our pilot. We shared all the work we are doing to reposition Nigerian Communications Satellite (NIGCOMSAT) Ltd, ensuring that our service delivery is excellent, our infrastructure reliable, and our technology continuous.”
Additionally, Mr. Olabiyi, of Dimension Data, noted that he is focused on creating unique and bespoke IT solutions for his customers while delivering services that are value-driven.
“Through customer engagement and outstanding technology infrastructure that advance productivity and business growth,” the Country Director stated.
According to NIGCOMSAT, with this continued drive and focus, the new NIGCOMSAT is gradually meeting the objectives of the Ministry of Communications, Innovation and Digital Economy under the leadership of Dr. Bosun Tijani, who is spearheading a series of initiatives to expand connectivity and promote digital inclusion in the nation’s economy.
Dr Bosun Tijani, minister of Communications, Innovation, and Digital Economy has said that his ministry and the Ministry of Interior have entered into an agreement to streamline emergency response services in Nigeria.
Dr Bosun Tijani, minister of Communications, Innovation, and Digital Economy
Tijani shared on his social media platform, X (formerly Twitter), that the effort was to enhance government service delivery through technology.
According to the minister, the agreement involves the Ministry of Interior taking a lead role in coordinating all parties to merge current emergency numbers into the unified efficient 112 emergency number, with support from the Nigerian Communications Commission (NCC).
The minister added that the collaboration involves key agencies such as the Nigerian Immigration Service, the Nigeria Correctional Service, the Nigeria Security and Civil Defence Corps, and the Federal Fire Service, all of which have a mandate to enhance internal security, emergency response, and other ancillary services.
Governor Abiodun Oyebanji of Ekiti State has paid glowing tributes to the Chairman of Globacom, Dr. Mike Adenuga, Jr. for his outstanding contributions to the development of Nigeria and the economy in general.
Speaking in his office in Ado Ekiti when he received the Public Sector team from Globacom on Monday, the governor also commended him for Globacom’s positive impact in the telecommunication industry, describing the company as the leader in the telecommunications sector in Nigeria.
“Globacom is our own and a good ambassador of this country as far as telecommunications services are concerned”, said Governor Oyebanji who also added that the Ekiti State Government would be delighted to do business with the company.
He promised that the state would be ready to partner with Globacom, especially in the areas of building a digital economy, fibre connectivity services to take the state to greater heights and in youth empowerments.
Speaking at the event, the leader of the Glo team, Mr. Adeniyi Odejobi, said that Glo pioneered revolutionary changes in the telecommunications industry for the benefit and empowerment of Nigerians in the last two decades.
He explained that the company was the largest integrated telecommunications service provider in Nigeria, servicing enterprises, large corporates, public sector organizations, SMEs and millions of individuals all over Nigeria as well as a total digital solutions provider.
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