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House of Reps Demands N350m allocation to revive ailing SMEs
The House of Representatives has called on the Federal Government to allocate N350 million in the 2026 budget to revive moribund industries and support small and medium-sized enterprises (SMEs) across Nigeria.
The resolution followed the adoption of a motion moved by Hon. Akarachi Amadi, who represents the Mbaitoli/Ikeduru Federal Constituency of Imo State.
Amadi noted that several formerly thriving industries across the country have collapsed or become inactive due to poor power supply, high interest rates, and weak infrastructure, leading to job losses and economic decline.
Citing data from the National Bureau of Statistics (NBS), he said Nigeria’s unemployment rate has risen from 25 percent in 2022 to over 40 percent in 2025, largely due to the closure of key manufacturing industries.
“The moribund state of local industries has led to an increase in the importation of goods previously produced in Nigeria, causing capital flight, worsening exchange rates, and fueling inflation, especially in sectors where we were once self-reliant,” Amadi said.
He added that the collapse of local industries has also contributed to rising insecurity, kidnapping, and other social vices, as many unemployed youths turn to crime out of frustration.
The lawmaker highlighted that several industries across the six geopolitical zones remain inactive, including the Katsina Steel Rolling Mill in Katsina State, the National Paper Manufacturing Company in Ogun State, and the Standard Shoe Industry Limited in Imo State. Others include the Taraba Tomato Processing Company, the Idah Glass Company in Kogi State, and the Cross River Wood Processing Plant.
Amadi warned that some Nigerian manufacturers are already relocating to neighbouring countries such as Ghana due to Nigeria’s poor infrastructure and high operating costs.
He stressed that reviving industries like the Osogbo Steel Rolling Mill, Osogbo Machine Tools, and Ceramic Industry, Umuahia would strengthen Nigeria’s economy, reduce reliance on imports, and create more jobs.
Following the motion’s adoption, the House urged the Federal Ministry of Industry, Trade, and Investment to include the N350 million allocation in the 2026 budget to kick-start the revival of these industries.
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POLITICS: Wike-led PDP Faction Takes Over Party Secretariat In Oyo
Members of Peoples Democratic Party, PDP, loyal to the Minister of Federal Capital Territory, FCT, Nyesom Wike, have taken over the secretariat of the party in Oyo State.
The secretariat, located in the Molete area of Ibadan, was in the custody of the faction loyal to Governor Seyi Makinde of the state until Thursday when the members loyal to Wike took over the premises.
DAILY POST gathered that the PDP members stormed the secretariat on Thursday and occupied the premises with hundreds of members of the party in attendance.
PDP chairman in the state, Professor Abdulrahman Akinoso, confirmed the development to DAILY POST.
Akinoso in a telephone conversation with DAILY POST on Thursday, insisted that the real owners have taken over the premises.
He said, “It is true. It is not faction. It is PDP. We have taken over the premises. It was in the morning. We were there in the morning. We just left the premises. We are now in control. We have taken over the premises.” .…For more, Complete your reading.
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POLITICS: Foreign Recognition Won’t Secure Re-election – ADC Tells Tinubu
The African Democratic Congress (ADC) has told President Bola Tinubu that foreign recognition will not secure him another term in office, insisting that Nigerians will judge his administration by its performance, not by diplomatic gestures from other world leaders.
In a statement issued on Thursday by its National Publicity Secretary, Bolaji Abdullahi, the opposition party reacted to the Presidency’s celebration of a purported letter from United States President Donald Trump to Tinubu.
The ADC said presenting the letter as an endorsement of Tinubu’s administration was misleading, stressing that diplomatic correspondence between world leaders is a normal part of international relations.
“The Presidency’s attempt to present President Donald Trump’s letter to President Bola Ahmed Tinubu as though it were a referendum on the state of the nation is not correct,” the party said.
According to the ADC, countries cooperate, leaders exchange views and letters regularly, adding that such communication does not amount to an endorsement of a government’s performance.
The party accused the Tinubu administration of being desperate for international validation instead of focusing on solving Nigeria’s challenges.
“It is apparent that this administration is desperate to seize upon any gesture of international recognition as proof of success at home,” the statement said.
The ADC maintained that “a letter from a foreign president, however well-intentioned, cannot substitute for the verdict of the Nigerian people.”
It added that the true measure of any government is not what foreign leaders say about it, but what citizens experience daily.
The opposition party argued that Trump’s letter had not changed the reality facing millions of Nigerians, especially those affected by insecurity.
“For the millions of Nigerians still living with the consequences of this government’s failures, President Trump’s communication changes nothing. It did not say that insecurity has been overcome or that Nigerians can once again travel freely, farm safely and sleep without fear,” the party stated.
The ADC also pointed to the continued captivity of hundreds of women and children in parts of Borno State and Kaiama in Kwara State, while many communities in Benue and other parts of the country still live in constant fear because of insecurity.
The party further noted that, despite the Presidency’s celebration of the letter, the United States Department of State has not changed its travel advisory for Nigeria.
According to the ADC, several Nigerian states remain under Level 3 and Level 4 travel advisories, with American citizens still being urged to reconsider or avoid travel because of crime, terrorism, kidnapping and civil unrest.
“We therefore wonder how correspondence from a government that designates several Nigerian states as ‘Do Not Travel’ areas can be regarded as an endorsement,” the party said.
It argued that the travel advisory shows the international assessment of Nigeria’s security situation remains different from the image the Presidency is trying to project.
The ADC said Nigerians are more concerned about their safety than diplomatic exchanges between presidents.
“The daily reality of Nigerians is shaped not by diplomatic correspondence, but by the guarantee that they can go about their lives without falling victim to violent crime or terrorism,” it said.
The party stressed that Trump’s letter was simply communication between two presidents and “does not amount to an endorsement of this government’s overall performance.”
It urged the Tinubu administration to focus less on celebrating diplomatic courtesies and more on delivering measurable improvements in the lives of Nigerians.
“Ultimately, Nigerians will not judge this government by the letters it receives from foreign capitals. They will judge it by whether .…For more, Complete your reading.
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