IMO BREAKING NEWS BLOG

The Delta State Government has approved a ₦1 billion revolving fund to be managed by the Bank of Industry (BOI), offering loans at a single-digit interest rate to support Micro, Small, and Medium Enterprises (MSMEs) across the state.

The State Commissioner for Economic Planning, Sonny Ekedayen, announced this during a post-Executive Council (EXCO) briefing at Government House, Asaba, on Thursday.

Ekedayen stated that the initiative is designed to boost entrepreneurship, create jobs, and stimulate economic growth by providing accessible financing to small business owners at affordable rates.

“This is exciting news for MSMEs, manufacturers, hoteliers, and small-scale industries in Delta State. The Exco has approved a ₦1 billion managed fund with the Bank of Industry—another laudable achievement of the Oborevwori-led administration,” he said.

He emphasized that the low-interest loan would help businesses expand operations, improve productivity, and sustain growth.

“Many businesses struggle due to high prime lending rates, which are around 30%. However, this initiative guarantees business owners access to a single-digit interest loan from the Bank of Industry,” Ekedayen explained.

He further clarified that the fund is a loan, not a grant, and will be available to serious-minded entrepreneurs with a proven track record. The repayment period will range from one to five years, with a flexible moratorium period.

Delta State Medium-Term Development Plan Approved

The commissioner also announced the approval of the Delta State Medium-Term Development Plan (2024-2027), which will serve as the strategic framework for project approvals and implementation under the Governor’s MORE Agenda.

“This document encapsulates the Governor’s vision and mission and will guide government spending—all without borrowing,” he added. 

The National Examination Council (NECO) has announced the release of the 2024 Senior Secondary School Certificate External Examination results.

According to the Registrar and Chief Executive of the Council, Professor Dantani Wushishi, 57,114 candidates secured credits in English and Mathematics, representing a 67.53% pass rate.

A total of 86,067 candidates sat for the examination, which saw a significant reduction in malpractice cases. The number of candidates booked for various forms of malpractice decreased by 27.7% compared to 2023, with 6,160 cases recorded.

The results were released just 62 days after the final examination, marking a notable improvement in the council’s processing time. Candidates can check their results on the NECO website using their registration numbers and exam details. 

The 2025 edition of the annual 42km 2024 Access Bank Lagos City Marathon has been once again dominated by East African runners from Kenya and Ethiopia. Kenya’s Edwin Kibet on Saturday emerged winner in the men category, clocking a time of 2:14:06 to win the $50,000 price money.

Kibet came third last year behind his compatriot Bernard Sang who won it with a time of 02:16:49 and another Kenyan Cheprot who came second. It is Kibet’s second win in the competition following his first victory in the 2023 edition.

In the women’s category, Ethiopia’s Guta Meseret Hirpa emerged victorious clocking a time of 2:37:04 for her first win in the competition. First Nigerian to finish the race, Nyango Gyang Boyi, made history by finishing in the top 10 positions. He finished the race in 8th place, clocking a time 2:25:41.58 which will earn him a prize award of $4,000. As the first Nigerian to finish the race, Boyi also won the N2million top prize in the Nigerian category.

The governor of Lagos State, Babajide Sanwo-Olu, was also one of the participants in this year’s Lagos City Marathon. The 42km race commenced at Western Avenue, in front of the National Stadium Surulere, and finished in front of Eko Atlantic City, Victoria Island.

This year’s edition of Access Bank Lagos City Marathon had thousands of runners competing for the top prize. The annual event was to a gold label by the World Athletics in 2023 less than eight years after its first edition. 

The national grid has collapsed again, plunging millions of Nigerians into darkness. The collapse which happened on Wednesday is the first in 2025. Confirming this in a post on X, the Ikeja Electricity Distribution Company reported that the system outage happened at 11:34 am local time.

“Please be informed that we experienced a system outage today 12th February 2025 at 11:34hrs affecting all our feeders. “Restoration of supply is ongoing in collaboration with our critical stakeholders,” the post read.

Abuja Electricity Distribution Company also confirmed the development on X. “Dear Valued Customer, we regret to inform you that a system disturbance occurred on the national grid at 11:34 am today causing a power outage across our franchise areas,” the company said.

“While gradual restoration of power supply has commenced, please be assured that we are working closely with relevant stakeholders to fully restore electricity as soon as the grid is stabilised.” 

This incident follows a pattern of instability, with the grid suffering about 12 consecutive collapses in 2024. Similarly, a popular Nigeria National Grid account on X read, “There was a “GRID DISTURBANCE” before noon today (Wednesday). Parts of the country experienced an outage.” 

The Federal Government has lauded Ogun State for its unwavering commitment to delivering a world-class National Sports Festival (NSF) as preparations for the highly anticipated event intensify. In a groundbreaking move, the festival’s Local Organizing Committee (LOC), with strong backing from the National Sports Commission (NSC), officially announced Premium Trust Bank as the lead sponsor in a record-breaking deal unveiled on Wednesday in Abeokuta.

Chairman of the NSC, Mallam Shehu Dikko, hailed the development as a significant milestone, emphasizing the crucial role of corporate partnerships in advancing Nigerian sports. “The unveiling of Premium Trust Bank as the lead sponsor for the 2024 National Sports Festival is a testament to the growing confidence of the private sector in Nigerian sports,” Dikko stated. “Ogun State has shown an extraordinary level of dedication, and this collaboration is a step toward elevating the festival to exceptional standards.”

Dikko further highlighted the festival’s economic and social impact, noting that beyond the thrill of competition, the Gateway Games 2024 would boost tourism, create jobs, and stimulate the local economy. “This festival is more than just a sporting event, it is a celebration of talent, resilience, and the boundless potential of Nigerian sports. With Ogun State’s level of preparation and the commitment of all stakeholders, I have no doubt that the Gateway Games 2024 will be the most remarkable edition yet,” he added.

The NSC reaffirmed its commitment to supporting Ogun State to ensure the festival’s success and lasting legacy. Dubbed the "Nigerian Olympics," the National Sports Festival is owned by the NSC and is set to welcome over 20,000 participants from the 36 states and the FCT. For the first time, Invited Junior Athletes (IJA) will compete as a 38th contingent.

The 2024 National Sports Festival will take place from May 16 to May 30, 2025, with Ogun State set to host a historic edition of the prestigious sporting event. 

The Nigeria Labour Congress (NLC) has condemned the implementation of a 50% tariff hike by telecommunication companies, demanding immediate reversal to the old tariff. The NLC and the Federal Government had earlier constituted a 10-man committee to deliberate on the tariff hike within two weeks and report back before any final decision would be made on the new telecom tariff structure.

Despite the agreement, telecom firms have proceeded with the increase, prompting NLC to issue a March 1 deadline for a total shutdown of their operations if the tariffs are not reverted. In a communique signed by President Joe Ajaero and General Secretary Emma Ugboaja, following a meeting of the NLC Central Working Committee in Lokoja on Tuesday, the union accused telecom firms of betraying trust and disregarding due process by implementing the hike before the review by the 10-man committee was completed.

The Congress also criticized the government for its failure to protect the citizens from corporate exploitation. As a first step in resisting the tariff hike, the NLC has directed Nigerian workers and other willing citizens to boycott the services of MTN, AIRTEL, and GLO daily between 11:00 AM and 2:00 PM from February 13 until the end of February 2025.

“All workers and citizens are urged to suspend the purchase of Data from these companies which has also become one of their greatest tools for exploiting Nigerian citizens. “We also demand the repatriation of all funds siphoned out of the country by these companies.