Sectors
CAN: Osun governor’s education policy review reduces tension
The Christian Association of Nigeria, (CAN) Osun State chapter has lauded Governor Gboyega Oyetola for the careful review of the education policy of the previous administration which has drastically reduced tension in public schools. The association also commended what it described as the ingenious and dynamic leadership with which Oyetola has handled critical sectors of the state. This was revealed by the second Vice Chairman, Christian Association of Nigeria, who also doubles as the minister in charge of the Sacred Cherubim and Seraphim, Oke-Atan Ile-Ife, Pastor Elijah Fagbile, while speaking with the media at the Osun Civic Engagement Office. He emphasized that Oyetola is a man of honour whose character and personal qualities have engendered tremendous development which the state curren...
NECA decries increase in Nigeria’s unemployment rate
Dr Timothy Olawale, Director-General, Nigeria Employers Consultative Association (NECA) has expressed concern of the association, at the growing unemployment rate, as released by the National Bureau of Statistics (NBS). Olawale told newsmen on Wednesday, in Lagos, that the recently released data by the NBS was worrisome. NAN also reports that a recently released Labour force report, published by the NBS shows that Nigeria’s unemployment rate as of the end of 2020, rose to 33.3 per cent from 27.1 per cent recorded as of Q2 2020. The report indicated that about 23,187,389 (23.2 million) Nigerians remained unemployed. “While the figure shows that the unemployment crisis is worsening at an alarming rate, it is also instructive to note that the socio-economic factors that increased the figure t...
WTO chief warns against Nigeria’s continued reliance on oil & gas
Dr. Ngozi Okonjo-Iweala, Director General of World Trade Organisation (WTO), has warned of Nigeria’s continued reliance on crude oil and gas as the major source of revenue to the government. Okonjo-Iweala sounded the warning on Wednesday in Abuja at a meeting with Women Entrepreneurs in Nigeria held at the headquarters of the Nigerian Export Promotion Council (NEPC). She urged the government to transit from oil and gas based economy to other non-oil sectors. She pointed out that unless Nigeria diversifies her economy, it would be left behind by other countries. She said, “I have kept on harping that Nigeria should transit from oil and gas based economy to producing in other non-oil sector. “This is because of the climate change. Fossil fuels which are oil and gas, that Nigeria depends on, ...
PDP governors inaugurate finance, legal affairs, legislative liaison committees
File Photo Governors of the Peoples Democratic Party have inaugurated three committees of the forum, namely Finance, Legal Affairs and Legislative Liaison. This was one of the outcomes of the meeting of the forum held Thursday at the Conference Hall, Sokoto State Governor’s Lodge, Asokoro, Abuja. A communiqué issued at the end of the meeting and signed by the Chairman of the Forum, Governor Aminu Tambuwal of Sokoto State says the Finance Committee is chaired by Abia Governor Okezie Ikpeazu and has as members Gov. Nyesom Wike of Rivers, Gov. Ifeanyi Okowa of Delta, Gov. Seyi Makinde of Oyo, Gov. Ahmadu Fintiri of Adamawa, Gov. Godwin Obaseki of Edo and Gov. Udom Emmanuel of Akwa Ibom. The Legislative Liaison Committee has Gov. Bala Mohammed of Bauchi as chairman, while Gov. Okowa, Gov Ifean...
NCC boss: Over $70 billion spent on telecoms infrastructure in Nigeria
Vox Media Over $70 billion have been invested in telecommunications infrastructure deployment in Nigeria since the liberalisation of the industry in 2001. The Executive Vice Chairman of the Nigerian Communications Commission, NCC, Prof Umar Garba Danbatta, who made this known said the amount represented a larger chunk of local and Foreign Direct Investment (FDI) attracted into the sector within the period. Danbatta made the remarks on Thursday while delivering the Bullion Lecture 2021 Edition organised by the Centre for Financial Journalism (CFJ), Lagos. According to him, the investment in infrastructures has boosted the economy and provided more opportunities for more Nigerians have access to telecoms services. “Today, the number of active telephone lines being used by Nigerians has signi...
2,700 Akwa Ibom women benefit from federal government’s special grant
The minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, has advised Nigerian women not to regard the N20, 000 special grant given to the rural woman by the federal government as the fabled national cake. She has rather charged the beneficiaries to judiciously use the grant to improve their living standard by utilizing it as seed capital do boost their trades and businesses for greater income. Speaking through Bashir Nura Alkali, the permanent secretary of the ministry, at the flag off of the Grant for Rural Women Project and the symbolic disbursement of the grant to 2700 women of Akwa Ibom state, in Uyo, on Thursday, Farouq explained that the Grant for Rural Women Programme was introduced in 2020 to sustain the social inclusion agenda of Presid...
Energy firms’ bank debts rise to N5.94 trillion
The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019. The N5.94tn represents 29.16 per cent of the N20.37tn loans advanced to the private sector by the banks as of December, according to the sectoral analysis of banks’ credit by the Central Bank of Nigeria. Oil and gas firms, which received the biggest share of the credit from the banks, increased their debt by N600bn to N5.18tn in December 2020 from N4.58tn in December 2019. The debt owed by power firms to the banks rose to N763.22bn in December 2020 from N671.45bn in December 2019, the CBN data showed. Oil firms operating in the downstream, natural gas and crude oil refining subsectors owed N393tn as of December, up from N3.42t...
Nigerian bank chief calls for review of educational reforms
The managing director/CEO of Sterling Bank Plc, Mr Abubakar Suleiman, has called for a review of Nigeria’s educational system so as to make it relevant to current and future human capital requirements in the country. Suleiman made the call while speaking as a panelist in a session on “Roadmap To Shared Prosperity – Ensuring Inclusive Human Capital Development” at the just concluded 8th Lagos Economic Summit, Ehingbeti 2021. He observed that Nigeria’s current educational system will continue to fail in its role of delivering the human resources needed by industry now and in the future unless the federal government redefines its commitment to the system. According to him, “The educational system that is operational in the country today appears to be only suitable for academia and not for inc...
Ekiti moves to reposition MSMEs for economic growth
Ekiti State Government has expressed its determination to enhance the growth of Micro, Small and Medium Enterprises (MSMEs) to boost economic prosperity of the state. The government had before now reconstituted a 22-member Council to address the myriad of challenges confronting MSMEs in Ekiti , with intention to upscale industrial growth and development . The Commissioner for Investment, Trade and Industry, Mr Muyiwa Olumilua, stated this during a one-day sensitisation workshop with the theme: “Making Economy A Private Driven Economy” held in Ado Ekiti. He said the state government will partner federal government and corporate agencies to facilitate opportunities for business owners in the state. Olumilua at the event, which brought together medium and small scale business owners from acro...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
Bishop Kukah: Wounds of the civil war have not been healed
Catholic News Agency The Bishop of Sokoto Diocese, Matthew Hassan Kukah, Thursday, said that the wounds of the civil war have not been healed. Kukah disclosed this at a zoom meeting organized by Dele Momodu of the Ovation Magazine and Mazi Ezeoke. Speaking on the theme: The Second never again conference: 51 years after Nigerian-Biafran Civil war, the outspoken Bishop, advised Nigerians to compile a history of the country, noting that knowing the history will calm/qualm the taste for violence. Kukah who has been on the media for criticizing the current administration and proffering solutions to the problems of the country noted that Nigerians and of course their leaders are not happy with the current situation of the country. He highlighted, poor economic policies, insecurity and poor educa...
