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SON Reaffirms Commitment to MSME Development
The Standards Organisation of Nigeria (SON) has reaffirmed its commitment to supporting Micro Small and Medium Enterprises (MSMEs) in the country, noting that the MSME sector plays a significant role in job opportunities for the nation’s teeming unemployed youths.
Farouk Salim, the Director General, SON, noted that SON would continue to encourage, build and guide local producers of goods and services on quality assurance and quality control.
Salim gave the assertion during a presentation of the MSMEs Clinics Award in Abuja recently.
He commended the Vice President, Prof. Yemi Osinbanjo for the initiative of the MSMEs Clinics, an initiative to strengthen the MSMEs in the country through government agency’s interventions and also the award for best MSMEs, stating that it is a good reward and recognition system for our teeming small scale manufacturers’ growth.
He recalled that at the Award ceremony earlier in the year, he was personally elated seeing Zainab Ismaila the Managing Director ZIA Spices receiving her award and prize money especially from that part of the country, positioning her as an industrious woman who has done well to achieve the award.
Salim further encouraged her as an employer of labour, to see herself as a role model to other women by sharing her experiences with the female folk in the North East and Nigeria as a whole.
The SON boss also revealed that SON is currently building capacity for Halal standards, stating that products tested, measured and certified with Halal Standards by SON, will help scale up products for export to countries recognising the standards, and help to improve the Nigerian Economy immensely.
In her response, the MD of ZIA Spices, Mrs. Zainab Ismail expressed gratitude to SON and Gombe State Office for their support and guidance on standards, quality assurance and good manufacturing practices, encouragement, that helped her to become a winner amongst other entrepreneurs.
Zainab also thanked SON for the donation of a 10 KVA generator, as it will go a long way in solving power problems in her small scale productions, promising to continue to adhere to standards and being an ambassador of SON.
Adamu Abba Bauchi, the Regional Coordinator North East in his remarks commended the DG for his support to the regional office, he also extolled the Gombe State Coordinator for the support given to the MSMEs in the state especially the award winner, ZIA Spices.
The State Coordinator, James Yakzum stated that out of many entrepreneurs, approached by the office, ZIA spices followed all the procedures given by SON on quality assurance and quality control, hence their achievement of the MSMEs Clinic Award.
The Ag. Director Operations Mr. Yakubu Dauda applauded the award winner for her tenacity in complying to Standards that has bought her this worthy reward encouraging her to keep it up also stating that Operations Department will continue to support State offices towards enhancing local productions.
Mrs. Phebean Arumemi, the Head SMEs desk, in her remarks stated that SON sits as the Secretary of the MSMEs Clinic Award committee and its activities are very stringent and transparent, she therefore praised ZIA Spices for scaling through to be a winner.
Arumemi disclosed further the activities of SON towards SMEs, stating that the SME’s desk is available to attend to the challenges experienced by local manufacturers through the State offices nationwide.
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
News
IHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
Communications infrastructure company, IHS Nigeria, has donated business support equipment to empower people with disabilities within the Karonmajiji community in the Federal Capital Territory, Abuja. This is part of the company’s commitment to drive inclusive community development and sustainable livelihood support under its Project Empower initiative.
The equipment was distributed to beneficiaries during a ceremony held in the community on Monday, July 27. The initiative was conceived following a community needs assessment and is designed to empower active traders by providing them with business tools rather than cash grants, thereby strengthening their businesses and ensuring long-term economic impact and accountability.
Speaking at the event, Director, Sustainability, IHS Nigeria, Titilope Oguntuga, described the initiative as a reflection of the company’s commitment to advancing inclusive development by equipping persons with disabilities with the tools and opportunities needed to build resilient livelihoods.
She explained that rather than providing short-term financial assistance, IHS Nigeria adopted an asset-based approach by donating 50 pieces of business support equipment, including sewing machines, freezers, generators and hairdressing kits, to the selected beneficiaries.
According to her, the intervention is designed to create lasting value by supporting entrepreneurship, promoting self-reliance and strengthening household incomes, while contributing to the achievement of the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).
In his opening remarks, the Chief of the Karonmajiji Disabled Community, Alhaji Sulaiman Muhammed Katsina, represented by the Secretary of the Community, Alhaji Mohammed Dantani commended IHS Nigeria for its commitment to empowering persons with disabilities through practical and sustainable interventions.
He described the initiative as a demonstration of genuine partnership with the community and expressed appreciation for the company’s continued engagement with the Association, noting that the donation of the equipment was a significant investment in improving the livelihoods of persons with disabilities and would create meaningful economic opportunities for the beneficiaries and their families.
The event brought together traditional rulers, government representatives, leaders and members of the Karonmajiji Disabled Community Association, implementing partners, including Field of Skills and Dreams Vocational Technical and Entrepreneurship (FSD VTE) Training Institute and other community stakeholders, reaffirming a shared commitment to promoting inclusion and sustainable community development.
Project Empower reinforces IHS Nigeria’s commitment to advancing sustainable development through strategic partnerships that promote economic inclusion, strengthen community resilience and create opportunities for underserved communities.
The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.
Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.
The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”
The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.
Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.
He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.
ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.
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