Economy
FG Launches One-Stop Shops to Support Small Businesses
By Dipo Olowookere
Federal Government has revealed plans to one-stop shops across the country to facilitate smoother government regulation and interface between entrepreneurs and agencies like the National Agency for Food and Drug Administration and Control (NAFDAC), Corporate Affairs Commission (CAC), Standards Organization of Nigeria (SON), Federal Inland Revenue Service (FIRS), and others.
This, it said, was in fulfillment of its mandate to significantly spur Micro, Small and Medium Scale Enterprises in Nigeria.
The One-Stop Shop programme is part of the on-going Nationwide Micro, Small and Medium Enterprise Clinics for Viable Enterprises (MSME Clinics) initiated by the Presidency in January 2017, and is aimed at providing a platform for convenient, continuous and easy interactions between regulatory agencies and MSMEs doing business in Nigeria.
Already, the first One-Stop Shop was launched recently in Jos, Plateau State.
While the MSMEs clinics which have held in several states already provide at an event, the opportunity for entrepreneurs and local producers in the MSME level to interact with regulatory agencies, the One-Stop Shop creates an ongoing opportunity in a permanent location to achieve the same purpose.
The states that are next in line include Abia, Cross River, Ogun, Akwa Ibom, Kwara, Kano, Benue and the FCT. While these states are slated for September and October, more of the one-stop shops are expected to be launched in other states before the end of the year.
The MSMEs Clinics, one of the diversification initiatives of the Buhari administration was designed to give small businesses the opportunity to meet with the industry regulators, to talk to them and to hear their problems in an effort to spur local production and harness the nation’s export potential in the process.
Already, one such one-stop shop for MSMEs in Plateau State has officially been launched in Jos on Thursday, August 24, 2017 and would be housed by the Plateau State Micro-Finance Development Agency (PLASMEDA).
The agencies to be housed in the One-Stop Shops include the Bank of Industry (BOI), Bank of Agriculture (BOA), CAC, FIRS, SON, NAFDAC, Industrial Training Fund (ITF), Nigerian Export-Import Bank (NEXIM), Nigerian Export Promotion Council (NEPC), and Small & Medium Enterprises Development Agency of Nigeria (SMEDAN).
It will also be a one-stop destination housing representatives of key government agencies under one roof where members of the public, entrepreneurs and potential entrepreneurs, can visit to engage with these agencies, make enquiries, report complaints and receive information that can boost their business plans and ideas.
At the launch of the Katsina State’s MSMEs Clinic in Katsina in May, Vice President Yemi Osinbajo, SAN, noted that the MSMEs clinics were the Buhari administration’s effort to bridge the gap between MSMEs and relevant FG regulatory agencies, like NAFDAC, CAC, BOI, FIRS and others and ensure that those agencies become facilitators of businesses, not obstacles to business development.
“The evidence is that over the years government and its agencies are seen more as an obstacle, a hindrance rather than a facilitator, and this is across all arms of government; the executive, the judiciary and the legislature. We have talked extensively about the executive and about the problems that people have interacting with the executive agencies but so it is with the Judiciary as well,” he said.
Similarly, the Vice President had urged public servants to imbibe the administration’s culture of transparency and accountability in discharging their respective duties, especially regarding the creation of an enabling business environment.
“Every time that a public servant is an obstacle to anyone seeking approvals or licenses, he or she attacks the Nigerian economy and its future. Our individual and collective vision or objective as civil or public servants must be advancing the social and economic prosperity of Nigeria,” he added.
As MSMEs across the South-East seek opportunities for growth, market expansion and cross-border trade, Stanbic IBTC, in partnership with the Anambra State Government, convened the Nigeria Business Summit Regional Tour in Onitsha to equip businesses with practical solutions for sustainable growth.
The summit, organised in collaboration with the Anambra State Ministry of Commerce, Industry and Trade, brought together government officials, business leaders, trade associations, development partners and entrepreneurs to explore practical pathways for economic growth, business sustainability and increased participation in local and international trade.
Speaking at the event, which took place on Wednesday, 29 July 2026, Honourable Nonso Chukwuma Ebonwu, Commissioner for Commerce and Industry, Anambra State, highlighted the importance of stronger partnerships between government, financial institutions and the private sector in creating an environment where businesses can thrive and contribute meaningfully to economic growth.
“Sustainable economic development requires strong partnerships between the public and private sectors. Financial institutions such as Stanbic IBTC have an important role to play by providing not only access to finance but also business advisory services, capacity building and the knowledge that enables businesses to grow sustainably,” he said.
Given Onitsha’s strategic position as a commercial hub, discussions centred on access to finance, enterprise development, business sustainability and opportunities for expansion into new markets. Stanbic IBTC’s Trade Team also provided practical insights into trade and export opportunities available to businesses operating within the South-East’s manufacturing and distribution value chains, highlighting strategies that can help enterprises improve competitiveness and unlock new growth opportunities.
Commenting on Stanbic IBTC’s commitment to supporting Nigerian businesses, Chuma Nwokocha, Chief Executive, Stanbic IBTC Holdings, said:
“We recognise the critical role businesses play in driving economic growth, creating jobs and fostering innovation. Supporting their growth remains central to our purpose of driving Africa’s growth, and we will continue to provide the solutions, partnerships and platforms they need to thrive.”
Also commenting on Stanbic IBTC’s support for Nigerian businesses, Remy Osuagwu, Executive Director, Business and Commercial Banking, Stanbic IBTC Bank, said:
“Our commitment to supporting businesses is unrelenting. Through strategic partnerships and platforms such as the Nigeria Business Summit Regional Tour, we are connecting entrepreneurs to the knowledge, networks and financial solutions needed to scale their businesses and compete more effectively in today’s evolving marketplace.”
The summit also highlighted Stanbic IBTC’s focus on providing businesses with access to the capital, insights and connections needed to achieve sustainable growth. This commitment aligns with the strategic direction of the bank’s Enterprise Banking business, led by Olajumoke Bello, as Stanbic IBTC continues to deepen engagement with MSMEs and growth-focused businesses across Nigeria.
The Onitsha engagement builds on successful editions of the Nigeria Business Summit Regional Tour previously held in Katsina, Aba and Ibadan. Through the initiative, Stanbic IBTC continues to work with public and private sector stakeholders to equip entrepreneurs with practical insights, strategic partnerships and business solutions that support sustainable growth.
By Aduragbemi Omiyale
The board of Presco Plc has proposed the payment of an interim dividend of N10 per share to shareholders of the organisation for the first six months of this year.
This information was conveyed in the unaudited financial statements of the company released to the Nigerian Exchange (NGX) Limited.
In the results for the half-year ended June 30, 2026, the fully integrated agro-industrial firm said the cash reward reinforces its commitment to delivering consistent shareholder returns.
It further assured that looking ahead, it remains focused on disciplined capital allocation, operational efficiency and long-term value creation while navigating evolving market conditions.
A look at the key financial highlights of the results showed that revenue was relatively stable at about N199.0 billion in the first half of 2026 and the same period of 2025 amid a high-cost operating environment and softer crude palm oil prices.
However, the pre-tax profit rose by 9.3 per cent to N122.2 billion from N119.9 billion as result of a 31.9 per cent reduction in financing costs.
Further, the Edo State-based company posted an EBITDA of N123.1 billion, which yielded a margin of 61.9 per cent, as the organisation strengthened its balance sheet, reducing total liabilities by 42.5 per cent to N277.8 billion, while equity grew 13.8 per cent to N503.6 billion, with a current ratio of 345.6 per cent, which underscores robust liquidity.
“Our H1 2026 performance underscores the strength of our operational model in a challenging environment. The 9.3 per cent growth in profit before tax, driven largely by a 31.9 per cent reduction in financing costs, reflects our deliberate focus on cost optimisation and balance sheet discipline.
“With equity up 13.8 per cent and liabilities down by 42.5 per cent, we have further fortified our financial foundation.
“The proposed interim dividend of N10 per share signals our confidence in the business’s trajectory and our commitment to rewarding shareholders,” the chief executive of Presco, Mr Reji George, stated.
By Aduragbemi Omiyale
The ex-depot prices of the two major petroleum products in the country, Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (Diesel), have been slashed by Dangote Petroleum Refinery.
The company, in a statement on Wednesday, disclosed that while petrol is now N1,165 per litre, diesel is now N1,570 per litre.
The energy firm said it slashed the prices to reaffirm its commitment to providing affordable, high-quality petroleum products to the Nigerian market.
The latest cut in the price of PMS represents N50, as it was previously sold to marketers at N1,215 per litre, while diesel witnessed an N80 reduction, as it was formerly being sold at N1,650 per litre.
Dangote Refinery stated that the downward price review reflects its ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria, saying it remains committed to ensuring stable supply while leveraging operational efficiencies to deliver value to consumers, businesses, and stakeholders.
As Africa’s largest refinery, Dangote Petroleum Refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products.
The company reaffirmed its dedication to contributing to the growth of the Nigerian economy and passing on the benefits of improved operational efficiencies to consumers whenever market conditions permit.
