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World Bank to construct 13.16km Lagos farm roads
Lagos State Government says its World Bank-assisted Agro-Processing, Productivity Enhancement, Livelihood Improvement Support (APPEALS) Project will construct 13.16km Farm Access Roads (FARs) in four cluster areas. The state Commissioner for Agriculture, Ms Abisola Olusanya, said this on Thursday during the activities to commemorate the second year of Gov. Babajide Sanwo-Olu’s administration. Olusanya noted that the four farm cluster areas were Igbodu in Epe, Araga also in Epe, Erinkorodo in Ikorodu and Afowo in Badagry. She said the access roads when completed would ensure smooth movement to and fro the farms. Olusanya added that it would reduce losses encountered by egg farmers as a result of the bad road. The commissioner said it would also improve productivity of the concerned farmers....
Minister: Nigerian government to establish micro enterprises in 774 local council areas
Dr George Akume, the Minister of Special Duties and Inter Governmental Affairs, on Wednesday said that micro enterprises will be established in the 774 Local Government Areas (LGAs) of the country. The Minister disclosed this in Abuja at the Association of Local Governments of Nigeria (ALGON) General Assembly with the Theme: Strategic Positioning for the Future: A New Era. “As a ministry, we have proposed the establishment of Micro, Small and Medium enterprises in the 774 local governments in Nigeria based on economic corridors. “We believe that this will create jobs and ensure improvement in the well-being of the local populace,’’Akume said. The minister, who was represented by Mr Simon Tyungu, Deputy Director, Office of the Minister, said that the establishment of the micro enterprise wa...
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, ...
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...
Central bank, bankers’ committee to support airlines, media with special facilities
The Central Bank of Nigeria (CBN) and the Bankers’ Committee have unanimously agreed to extend special facilities to Nigerian-registered airlines and the media industry in the country to enable them adequately address the negative impact of the COVID-19 pandemic. The CBN Director Corporate Communications, Mr Isaac Okorafor, made this known in a statement in Abuja on Tuesday. Okorafor said the CBN Governor, Mr Godwin Emefiele, announced this while addressing the Bank Chief Executives at the bi-monthly virtual meeting of the Bankers’ Committee on Tuesday. Emefiele urged the banks to do all within their powers to support airlines in the country, noting that such support was critical to helping the industry recover from the economic crisis triggered by the COVID-19 pandemic. Similarly, the ape...
