Friday 27 May 2016

CSR NEWS SUMMARY ISSUE 138

#Industry: LASG plans to rebrand transport sector

The Lagos State Government has announced measures to raise the dignity of commuters and commercial vehicle drivers operating in the state. It said efforts were being made towards rebranding the public transport system which would incorporate the major modes of transportation.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Economy: Tourism, alternative to oil

The Director-General of the Nigerian Tourism Development Corporation, Dr Sally Uwechue-Mbanefo, has advocated national tourism as an alternative source of revenue to oil. Uwechue-Mbanefo, according to a statement on Sunday, said this at the 7th Annual National Conference of the Academy for Entrepreneurial Studies in Lagos with the theme, ‘Nigeria beyond oil’.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Health: WHO confirms Zika virus spread in Afica

The Regional Director for Africa, World Health Organization, Dr Matshidiso Moeti, has confirmed the spread of the Zika Virus on the continent. The WHO statement on Sunday, said this was the first time scientists would confirm the circulation of the Asian strain of the virus in Cape Verde, a country in the northwest coast of Africa.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Economy: Shrinking profit worries marketers as crude prices rise

The gradual rise in crude oil prices and the challenge in the foreign exchange market do not go down well with marketers of Premium Motor Spirit, popularly known as petrol. They are worried that the development may erode the gains from the partial deregulation of the downstream oil sector. According to them, the increase in crude prices and the high exchange rate of the United States dollar at the parallel market have almost wiped out the incentive to be enjoyed whenever they import petrol.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Economy: FG plans economic strategy review to avert recession

The Federal Government will soon commence a review of its economic strategies following the poor growth, which the economy recorded in the first quarter of the year. The move, a Presidency source said, became imperative in order to address some of the structural challenges, which the current administration might not have anticipated during the formulation of its economic agenda.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Oil: Agip oil pipeline bombed in Balyesa

Gunmen suspected to be militants have attacked an oil pipeline belonging to the Nigerian Agip Oil Company at Ikienghenbiri community in the Southern Ijaw Local Government Area of Balyesa State. The attack on the pipeline was said to have been spearheaded by some armed youths from the community.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Economy: Falling GDP, MPC meeting’ll strain market

Investors in the country’s capital market are likely going to exhibit negative sentiments following the drop in Nigeria’s Gross Domestic Product in the first quarter of 2016 and fears over the possible outcome of the Monetary Policy Committee meeting, analysts have said. The National Bureau of Statistics had, on Friday, released the 2016 first quarter real GDP report, which showed a 0.36% year-on-year contraction in output.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Power: Power firms got 57% of intervention fund- Emefiele

The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, says power firms and other players in the electricity industry have received 57 per cent of the N213 billion of the Nigerian Electricity Market Stabilisation Facility. He specifically said the central bank had so far disbursed N120.2bn to players in the power sector.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#IndustryPulse: Access Bank enhances savings culture

Access Bank Plc says it will continue to partner the Central Bank of Nigeria to boost savings culture and financial inclusion in the country. The Bank Group Head, Channels Services, Access Bank, Mr Segun Ogbonnewo, said the lender had been organizing various programmes including promotional campaigns to encourage savings culture among the populace.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#IndustryPulse: FBN Capital seeks growth of African stock exchanges

FBN Capital has described African stock exchanges as a very critical element and important facilitator of economic growth in sub-Saharan Africa. The firm, therefore, called on operators in the various markets in Africa to ensure their bourses have the potential to stimulate needed growth in their economy.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Investment: More indigenous investors keen on insurance market

As more foreign investors venture into the insurance sector, some local firms with huge potential have also shown readiness to add value to the growth of the industry. About 18 insurance broking firms and one underwriting company applied to the National Insurance Commission in 2015 to obtain new licences to operate.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#CSR: Mutual Benefits donates new boats to group

Mutual Benefits Assurance Plc has said it will continue to drive initiatives that will empower the society and create value in the lives of the citizens through collaboration and partnerships. According to a statement on Sunday, the Group Managing Director, Mutual Benefits, Dr Akin Ogunbiyi, said this during the inauguration of 22 canoes/Kayaks boats, which were donated by the company to Nigeria Rowing Canoe and Sailing Federation.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Infrastructure: NIESV calls for redevelopment of Lagos Island

The Nigerian Institution of Estate Surveyors and Valuers, Lagos Branch, has said that most parts of Lagos Island which form major urban centres in the metropolis, still have rural characteristics and need to be redeveloped. The Chairman, NIESV, Lagos ranch, Mr Offiong Ukpong, stated this when he led members of the institution on a courtesy visit to the palace of the Oba of Lagos, Rilwan Akiolu.

Published by the Punch Newspaper on Monday, 23rd May, 2016

#Economy: Buhari committed to diversifying economy – Adesina

President Muhammadu Buhari’s spokesman, Femi Adesina, has declared that the present administration is determined to diversify the Nigerian economy with emphasis on the entertainment sector. Adesina made this declaration during the maiden edition of Daylight Annual Leadership Awards (DALA), held at the Civic Centre, Victoria Island, Lagos, last Sunday where he was honoured Most Outstanding Media Personality of the year award.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Health: Army decries poor state of military hospital

Former Commander of the Nigerian Army Medical Corps, Major General Samuel Ameh, has decried poor state of the corps vis-à-vis the military hospitals in Nigeria, saying the organization lacks the necessary equipment and manpower to function appropriately.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Infrastructure: Enugu to spend N3bn on schools renovation, toilets

Enugu State Government has announced plans to build toilets in all public schools across the state as a way of improving the sanitary conditions of the schools. This was just as it announced that over 276 schools blocks would be renovated.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Infrastructure: Buhari to commission Calabar monorail, says Ayade

Cross River State Governor, Prof. Ben Ayade has said the state is ready for the commissioning of the Calabar monorail by President Muhammadu Buhari. This will be the second time the president is visiting the state after his earlier visit 2015 to flag off the construction of the state’s superhighway and deep seaport. Buhari is expected to commission the first monorail in sub-Sahara Africa while his wife will commission the Cross River Garment Factory to mark Ayade’s first year in office.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Agriculture: Commercial Agriculture project- FG begs World Bank to extend implementation

The Federal Government has commenced moves to secure an extension of the World Bank Commercial Agriculture Development Project (CADP) in Nigeria. The pilot project, which is scheduled to terminate in November 2016, is being implemented along eight value chains in Kano, Kaduna, Enugu, Lagos and Cross River states. Making the disclosure, yesterday in Kano, during the 12 Implementation Support Mission, National Coordinator of Commercial Agriculture Development Project (CADP), Dr Aminu Babandi, urged participating states to peg their activities to June 2016.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Awards: Financial Times nominates Kwara CHIS for award

Kwara State Community Health Insurance Scheme (CHIS) has secured yet another international acclaim as it has been nominated by Pharm Access Foundation, Netherlands for the 2016 Financial Times/IFC transformational Business Award.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Health: Mosquito control failure fuelling Zika outbreak

World Health Organization leader Margaret Chan has said the spread of Zika is the price being paid for a massive policy failure on mosquito control. Speaking at the agency’s annual World Health Assembly, Dr Chan said experts had “dropped the ball” in the 1970s with regards to getting a handle on disease-carrying insects. More 60 countries and territories now have continuing Zika transmission.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Economy: Ondo begins the production of lawyers’ wig, focuses on agric development

Ondo state Governor, Dr Olusegun Mimiko has expressed satisfaction at the progress being made by youths engaged in lawyers’ wig-making at the state-owned Wealth Creation Agency (WECA) even as wig is now being produced in commercial quantity in the state. The governor has also reiterated government’s determination to focus on agriculture as a means of job creation for youths in the state.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Stakeholders’Action#Education: Increase funding for basic schools, stakeholders urge government

Placing primary education in a sound footing through adequate funding was the focal point of a recent education stakeholders’ meeting, organized in Lagos, by Save the Children, a non-governmental organization (NGO). Other salient issues such as teaching pupils healthy etiquettes and safeguarding school facilities also featured at the event. Many of the participants maintained that the running cost made available to Heads of Primary Education is very meagre. They therefore, called on the government and its agencies to increase the running costs for primary education.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Health: Anambra community to become city of medical research

The ongoing Medical Research Centre at Umuchukwu community in Orumba South Local Government, Anambra State, would soon turn the obscure locality to a city of knowledge. On completion of the 15-storey building project, funded solely by Dr Godwin Maduka, the Chief Executive Officer and Medical Director of the Las Vegas Pain Institute and Medical Centre, the largest pain treatment centre in Nevada, USA, the rural community will become the hub of medical research in the country and African continent.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Empowerment: VC’s wife unfolds agenda for FUNAI women

The wife of the Vice Chancellor of Federal University Ndufu Alike (FUNAI), Dr. Mrs. Chinyere Nwajiuba, has unfolded a five point agenda for the uplift of the female staff of the university. Dr Nwajuiba, who was addressing the female staff under the auspices of FUNAI University Women Association in a maiden meeting with them, listed the agenda she would pursue to include education, wellness, development, leadership and diversity.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#CSR#Empowerment: Slot invests in Human capacity

With the dwindling human capital and brain drain in the country, Slot Systems Ltd graduates the first set of 40 students in its Academy. The Academy, which is the brain child of Slot Foundation, is a Corporate Social Responsibility (CSR) Initiative aimed at providing technical skills and creating jobs for Nigerians.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Infrastructure: $166bn needed for energy, transport infrastructure – Amaechi

Minister of Transportation, Chibuike Amaechi, yesterday disclosed that the Federal Government requires about $166 billion over the next five years to provide needed infrastructure in the country’s energy and transport sector. Amaechi who spoke at the public hearing on Nigerian Railway Authority Bill and National Transport Commission Bill, held by the House of Representative Committee on Land Transport, also disclosed that the Government and General Electric have concluded arrangements for the commercialization of Lagos-Kano railway project.

Published by the Daily Sun Newspaper on Tuesday, 24th May, 2016

#Economy: CBN adopts flexible forex policy as reserves dip to $26.6bn

The Monetary Policy Committee of the Central Bank of Nigeria has directed the management of the apex bank to adopt a flexible exchange rate policy in the inter-bank forex management structure. The CBN Governor, Mr Godwin Emefiele, disclosed this on Tuesday while addressing journalists shortly after the two-day MPC meeting held at the apex bank’s headquarters in Abuja.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#Infrastructure: New Oshodi projects starts June 1, costs N22.4bn

The Lagos State Governor, Akinwumi Ambode has said the Oshodi regeneration project, which will include the development of the Oshodi Transport Interchange, is set to commence and will cost about N22.4 billion.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#Infrastructure: FG to drill State House borehole for N13.8m

The Federal Government will spend N13.8 million on the drilling of one borehole inside the premises of the State House, Lagos Liaison Office this year. This is part of the N149.2 million total sum allocated to the liaison office in the 2016 Appropriation Act recently signed into law by President Muhammadu Buhari.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#Agric: Tomato Ebola hits six states – FG

The Federal Government on Tuesday said the pest, Tuta absoluta, popularly known as ‘Tomato Ebola’, which is responsible for the massive destruction of tomato in farmlands, had invaded six states in Nigeria.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#IndustryPulse: Heritage Bank promotes financial inclusion

Heritage Bank says it is set to launch a comic book to drive financial inclusion among children. According to the statement by the lender, the launching of the book is one of the highlights of its Children Banking Month 2016, which is a financial literacy campaign to commemorate the Children’s Day celebration.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#IndustryPulse: FCMB unveils growth plans

First City Monument Bank Limited says it will leverage Information and Communication Technology to grow its revenue in the current financial year. The assistant Vice-President and Group Head, Information Technology, FCMB, Mr Emeka Eboegbune, was quoted as saying this while responding to media inquiry in Lagos.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#Education: Entrepreneurial education key to economic growth – Don

In order to improve economic development, a former Director-General and Chief Executive Officer of the National Centre for Technology Management, Prof. Williams Siyanbola, has called for the inclusion of entrepreneurial education in the curriculum of tertiary institutions.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#IndustryPulse: 310 food, beverage sector jobs lost – Group

The Association of Food, Beverage and Tobacco employers said about 310 people were thrown out of employment between 2014 and 2015. In addition, the beverage, sugar, spirit/distillery, confectionery and flour-based sub-sectors recorded decreased capacity utilisation in the year under review.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#Empowerment: 1,460 youths complete skills training in Calabar

No less than 1,460 youths have completed skill acquisition training at the Entrepreneurship Development Centre in Calabar, Cross River State. The Project Manager of EDC, Mr Godwin Ugah, said this during a one-day workshop on Youth Leadership, Entrepreneurship, Access and Development held in Calabar.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#Economy: Emmanuel seeks advertisers’ support for growth

Governor Udom Emmanuel of Akwa Ibom State has called on strategic communication professionals to fashion out modalities for inspiring Nigerians to demonstrate more sense of patriotism and appreciate government policies and programmes. The governor made this call while declaring open the 43rd Annual General meeting and Congress of the Association of Advertising Agencies of Nigeria held at Le Meridien Ibom Hotel and Golf Resort, Uyo.

Published by the Punch Newspaper on Wednesday, 25th May 2016

#Economy: Buhari- Economy in volatile situation

Nigeria’s economy is currently in a volatile situation due to the crash in oil prices, President Muhammadu Buhari has said. The president’s remark came at a time when oil price yesterday rose to nearly $50 a barrel, even though Nigeria will earn less from the boom due to drop in production in recent times.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Economy: States embark on reforms to avoid economic downturn

State governments have agreed to reform the finances of states and local governments under a fiscal sustainability programme to ensure their long term viability. The 22-point fiscal reform action plan to be implemented by the states under the programme mirrors the ongoing public financial management reforms being undertaken by the federal government, including; biometric capture of all civil servants, the establishment of an Efficiency Unit, implementation of Continuous Audit, improvement in Independent Generated Revenue (IGR) and measures to achieve sustainable debt management.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Philanthropy: ASUU donates N5m relief items to insurgency victims

The Academic Staff Union of Universities (ASUU) has donated N5 million worth of relief materials to internally displaced persons in Adamawa state as part of its N20 million relief package for the three North-East States affected by insurgency.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Economy: Africa loses $80bn to terrorism annually – Gambari

Nigeria’s former Permanent Representative at the United Nations a former Head of the Un African Union Mission in Darfur, Sudan, Prof Ibrahim Gambari, yesterday disclosed that African countries lose $80bn to terrorism and violence every year.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Economy: Nigeria misses out in revenue as oil hits 2016 high

Oil price went up by more than one per cent yesterday, nearing $50 a barrel, but Nigeria will receive less from the 2016 boom due to the lower production in recent times. Reuters said the price of Brent Crude Wednesday was up 76 cents, or 1.6 per cent, at $49.39 a barrel in late afternoon trading on expectations the U.S. government will record a large crude stockpiles drawdown for last week.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#IndustryPulse: Jaiz Bank moves to access non-interest intervention funds from CBN

The Acting Managing Director of Jaiz Bank, Mahe Abubakar, has said that the bank is working with the Central Bank of Nigeria (CBN) to accommodate non-interest finance institutions in the apex bank’s intervention funds. In an exclusive interview with the Daily Trust, Abubakar said that Islamic finance institutions found it difficult to assess CBN’s intervention funds since they were mostly interest-based.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Empowerment: 100 entrepreneurs get skills training in Sokoto

One hundred entrepreneurs are being trained in Sokoto with a view to providing the youths with skills on business development and establishment. The 3-day training programme was organized by the Small and Medium Enterprises Development Agency (SMEDAN), and the Sokoto State Small and Medium Enterprises Development Agency (SOSMEDA).

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#MSME: Group wants 1% of Kwara budget for entrepreneurship devt

Business owners under the aegis of Kwara State Coalition of Business and Professional Association (KWACOBPA) have urged the state government to set aside one percent of its annual budget to support entrepreneurs. They also said they have sent a bill to that effect to the State House of Assembly.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Partnership: Mrs Al-Makura to partner organizations to reduce unemployment

Nasarawa State governor’s wife, Hajiya Salamatu Al-Makura, has pledged to partner groups and organizations with the vision to reduce unemployment in the state.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Agric: Ooni moves to rescue cocoa farming

The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, has begun his agricultural revolution initiative with a nursery plant of one million cocoa trees to be distributed to youths in Ile-Ife to empower them to be self-reliant. Unveiling the one million cocoa nurseries at a farm in Ife, the director of media and public affairs in the palace of the Ooni, Mr Moses Olafare, said the monarch was determined to empower Ife youths economically and that he has identified agriculture as one of the areas to be employed to achieve the goal.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Agric: LCRI to enhance wheat production

The Lake Chad Research Institute (LCRI) has concluded arrangements to enhance the production of wheat towards making the country self-sufficient in wheat production in 2021 with the political will of current administration.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Philanthropy#Education: Donor agency spends N500m on Jigawa education

The Education Sector Support Programme in Nigeria (ESSPIN) operating under DFID has spent about N500million in the last six years on education in Jigawa State. The acting state team leader, Hezekiah Odeyale, made this known during a two-day workshop organized for education secretaries in the state. He said the money was expended on teacher training, purchase of teaching and learning materials and production of school uniform. Other things provided were toilet facilities and boreholes.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#Philanthropy: Egyptian university sponsors Nigerian displaced kids

Al-Azhar University, Cairo, has offered scholarship to 10 displaced children from Gwoza, Borno State for undergraduate courses at the institution. Grand Imam of Al-Azhar, Dr Ahmed El-ayeb, disclosed this yesterday when he led a delegation from the institution to the Internally Displaced Persons (IDPs) camp in Durumi, Abuja.

Published by the Daily Trust Newspaper on Thursday, 26 May 2016

#IndustryPulse: Nigerian artworks in record N500m sale at London auction

Nigerian artworks have made history in a London auction garnering N568,338,750 (£1,159,875) gross realised sale from the works of three renowned artists. The auction for works by some African leading artists, which held at the Bonhams Africa Now- Modern Africa Sale in London on May 25, 2016, witnessed a host of new world records as Ben Enwonwu, El Anatsui, and Yusuf Grillo accounted for the top 10 lots sold in a sale which made a total of £2,000,000.

Published by the Business Day Newspaper on Friday, 27th May, 2016

 #IndustryPulse: Union Bank stock surges on new brand identity

Union Bank’s stock led the charge in financial stocks yesterday, as investors bid up the counter by limit up 9.96 per cent. Analysts say that the stock which is up 26 per cent in May alone is rallying on the back of investors’ confidence in the lenders recently unveiled brand identity that was orchestrated with a view to maximize the value of owners.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#infrastructure: Lagos to remove structures under high-tension poles

As part of efforts to maintain a sustainable, organised, liveable and friendly environment, the Lagos State government has resolved to remove all structures and properties built under high tension cables across the state. Anifowoshe Abiola, the Commissioner for physical planning and urban development, who stated this, reiterated that it was dangerous and illegal to build under high-tension cables.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Empowerment: FTA pledges commitment to acquisition of trade skills for export receipts

The Foreign Trade Academy (FTA), a trade development institution in Nigeria, says it is positioned to equip Nigerians with foreign trade skills with a bid to ultimately shoring the country’s export receipt. At its first board meeting held in Lagos recently, with the theme: “Fostering Economic Growth, Business Investment and Sustainable Development: Role of Foreign Trade Education”, the board members stressed the need to develop a public private partnership in achieving the academy’s goals and objectives.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Empowerment: Accion MBF extends financial inclusion to Ogun

Accion Microfinance Bank Limited has extended its financial services to Ogun State as it opens two branches to economically empower low income earners and the people at the bottom of the pyramid. The bank opened the branches at Sango Otta, a popular industrial area of the state and Akute, an upcoming commercial area. The entry to Ogun State was heralded by the formal opening of the Sango Otta branch.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Economy: AABS advocates inclusive growth in African economies

The Association of African Business Schools (AABS) converges in Nigeria to seek ways on how to promote inclusive growth in African economies as well as identify ways of helping member-schools in attaining maximum performance. A two-day international conference slated for Monday and Tuesday ticked off with a dinner in Lagos on Sunday. The event targets not only at academics but also at business people.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Health: NHIS to enrol 20m school pupils in Kwara for free healthcare

 The National Health Insurance Scheme (NHIS) has commenced enrolment of 20 million public primary school pupils for social health insurance programme across Kwara State. Idris Mohammed, General Manager for North Central A Zonal Office for Ilorin told newsman on Wednesday in Afon, Asa Local government Area of the state that Kwara was the pioneer state of the scheme.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Empowerment: Lagos begins self-employment initiatives for graduates

Governor Akinwumi Ambode of Lagos State has undertaken an initiative that will provide self-employment opportunities for graduates from its tertiary institution. Ambode, who disclosed this at the 20th convocation ceremony and installation of the new chancellor of the Lagos State University held at the new auditorium of the Ojo Campus of the institution, said considering the current unemployment statistics his administration had proactively instituted a programme that would enable fresh graduate become job creators rather than job seekers.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Economy: Naira falls as CBN directs banks to submit bids

Naira yesterday fell against the dollar vat the autonomous market by N3 or 0.87 percent, as the Central Bank of Nigeria (CBN) directed banks to submit bid for FX at N197/$. It closed at N348 against dollar compared with N345/$ the previous day. At the parallel market, it weakened by N1 or 0.29 per cent to close at N351/$ yesterday from N350/$ the previous day.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Philanthropy: Dangote donates N400m to Lagos poverty alleviation programme

President of Dangote Group, Aliko Dangote, has donate N400 million to support the Lagos State Government poverty alleviation programme. Dangote announced the donation at the launch of Dangote Trust Fund Micro-Grant in the belief that socio-economic changes through investments and interventions that improve lives of the less privileged will make a positive difference in the growth on the nation.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Health: “5.7m Nigerians living with HIV/ADIS”

With about 5.7 million Nigerians living with HIV/AIDS, Nigeria is the second country in sub-Saharan Africa with the highest prevalence rate. This comes as the Nigeria’s prevalence rate increases from less than 1 percent in 2001 to 3.4 percent this year. Ex-African leaders under the aegis of Champions for an AIDS-Free Generation stated this at a courtesy call on Senate President, Bukola Saraki. Chairperson of group and former President of Botswana, Festus Mogae harped on the need for increased domestic funding in the fight against HIV/AIDS.

Published by the Business Day Newspaper on Friday, 27th May, 2016

#Education: FG secures $4m E-content research access for universities

In recognition of the role of research o=in learning and development, the Federal Government on Thursday secured $4 million Ebscohost E-content facility for Nigerian universities. The facility is expected to enhance the work of Nigerian Research and Education Network (NgREN) for wider research undertakings in the nation’s higher institutions of learning that will benefit from the scheme.


Published by the Business Day Newspaper on Friday, 27th May, 2016

Friday 20 May 2016

CSR NEWS SUMMARY ISSUE 137

#Economy: Fuel scarcity may worsen Dollar shortage
Despite the liberalisation of fuel imports, it emerged yesterday that at least 75 ships with two and a half million tonnes of fuel were waiting for importers in Nigeria to find dollars they need to pay for the cargoes, according to ship tracking data and fuel traders.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Oil: Insurgency cuts oil output by to 1.65mbpd

Confirming this yesterday, the Minister of State for Petroleum, Dr Ibe Kachikwu, tweeted that the renewed insurgency and pipeline breaks in the Niger Delta had resulted in Nigeria’s daily crude oil production dropping to 1.65 million barrels per day as against 2.2 million bpd that was projected in the 2016 budget.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Investment: Fixed income securities market attract N32tn in four months

The fixed securities and currencies market has attracted investments worth N31.93 trillion between January and April 2016, statistics obtained by THISDAY have revealed. The money was invested in the securities via the FMDQ OTC Securities Exchange Commission (SEC) in 2013 as an over-the-counter (OTC) securities exchange and self-regulatory organization to run the fixed income trading platform.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Philanthropy: Rockefeller Foundation, others to provide $1m grants to enhance cassava production

The Rockefeller Foundation, Dalberg and the International Institute of Tropical Agriculture (IITA) have launched an innovation challenge to uncover innovative solutions to increase cassava shelf life in Nigeria.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Technology: SES to migrate over 25m households to Digital Platform

SES, a global player in satellite operations has signed a multi-year agreement with Cable Channels Nigeria Ltd. (CCNL) to provide strategic, reliable and stable video platform, via SES’s prime orbital position 28.2 degrees East, for the provision of Digital Terrestrial Television (DTT) and Direct To Home (DTH) broadcast platform in Nigeria.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Award: Akinosho wins the distinguished Contribution to industry Award

Toyin Akinosho, Publisher of Africa Oil+Gas Report, received the top award of the latest edition of the “Big Five Awards” conferred on distinguished oil industry players at the annual Africa Oil Week in Cape Town.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#IndustryPulse: Red Star express appoints new EDs, MDs for subsidiaries

One of Nigeria’s logistics companies, Red Star Express Group has appointed new Executive Directors for the Group and Divisional Managing Directors for its subsidiaries. The subsidiaries are Red Star Logistics, Red Star Support Services, Red Star Freight and the Express arm.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Economy#ICT: Nigeria to expose opportunities in non-oil sector at Gitex 2016

The Nigerian Pavilion at Gitex 2016 will be exposing opportunities in non-oil sectors and how the Nigerian Government is committed to supporting foreign and local entrepreneurship, particularly in the Information and Communications Technology (ICT) sector, according to the National Information Technology Development Agency (NITDA), the government agency responsible for the implementation of ICT policy in Nigeria.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Investment: Firms to invest in mobile Advertising start-up, slide airtime

Singularity Investment has announced its plans to invest an undisclosed sum into Slide Airtime, a mobile advertising technology start-up that give consumers free airtime in return for engaging with news and branded content delivered to the lock screen of their mobile devices.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#CSR#Awards: Ecobank announces prizes for 2016 essay competition

Ecobank Nigeria Limited has opened its annual national essay competition for children as part of activities to commemorate the May month dedicated to children around the world. The Ecobank National Essay competition for children with the EcobankMyFirst Account calls for entries from students between the ages of 8-12 in category one and ages 9-14 in category two. Topic for the essay is “The need to imbibe the culture of savings at an early age”. Prizes to be won include Laptops, Educational Tabs and several consolation prizes.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#MSMEs#CSR: Diamond Bank rewards five entrepreneurs with N15m

Diamond Bank Plc has rewarded five budding entrepreneurs with N3 million each at its just concluded Building Entrepreneurs Today (BET) Season five. The winners are: Uchechi Arinze, Folarinyo Abiodun, Ayodeji Agboola, Emmanuel Okiedesan and Hauwa Bello.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#MSMEs: Konga.com rallies support for MSME to promote local products

A leading online mall, Konga.com, has proven its commitment to deepening commerce and trade in Africa by supporting Micro, Small and Medium Enterprises. To this end, the company recently partnered with Lagos State Government to host MSME exclusive fair in Lagos. According to the two partners, the fair focused on indigenous and local manufacturers and producers with the aim of promoting “made in Nigeria” Products.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Agric: Erisco targets one million metric tonnes of tomato processing

The Chief Executive Officer, Erisco Foods Limited, Mr Eric Umeofia has said that his firm is targeting to achieve one million metric tonnes of tomato processing by the fourth quarter of 2016. Umeofia made this known at the Katsina State Economic Summit recently. He also commended President Muhammadu Buhari’s commitment and support towards backward integration and economic stability.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Partnership#CSR: Access Bank partners UNICEF

Access Bank has announced that the 10th edition of its annual charity shield competition for vulnerable school children in Kaduna State would hold from end of May to 5th of June this year as it continues to partner with the United Nations Children’s Emergency Fund.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#IndustryPulse: NCAA to begin implementation of new regulations in July

The Nigerian Civil Aviation Authority has announced that the new Nigerian Civil Aviation Regulations (Nig.CARs) promulgated in December 2015 will take effect from July 1, 2016. The new r5egulation was supposed to update new development and policies done in the industry since the first regulation as amended was introduced.

Published by the THISDAY Newspaper on Monday, 16th May, 2016

#Infrastructure: Ambode opens roads, schools, jetty, market

Lagos State Governor, Akinwunmi Ambode yesterday, urged community leaders and others to guard public infrastructure. Ambode, represented by some of his commissioners, who spoke simultaneously at five local government areas during the commissioning of projects of his first year in office, urged the people to take charge of the facilities in their domains.

#Economy: 600,000 jobs coming with liberalised oil sector, says govt

Information Minister, Lai Mohammed gave more insights into how fuel price was raised from N86.50 to N145 per litre. He said the President Muhammadu Buhari has not let down Nigerians with the new price, adding that it had no choice than to deregulate the petroleum sector. The facts, according to Mohammed, are that in 2015, the Federal government paid N1trillion as subsidy, which amounted to one-sixth of the year’s budget; it cannot afford such a huge amount of subsidy again; the liberalisation policy will lead to the creation of 600,000 jobs; and labour leaders were not deceived or tricked on the new pump price.

#Economy: Inflation rises to 13.7%

Inflation rose for the sixth consecutive months in April and at the highest pace since August 2010, after an increase in fuel and electricity prices. According to a statement by the National Bureau of Statistics, the figure was higher than the 12.8 per cent the month before.

Published by the Nation Newspaper on Tuesday, 17th May, 2016
#Infrastructure: Lagos approves 54 firms to manage streetlight

No fewer than 54 private firms will be engaged by the Lagos State Government to manage streetlights in the state, says the Commissioner for Energy and Mineral Resources, Mr Olawale Oluwo. Oluwo, who spoke on Tuesday during a briefing on the activities of the Ministry of Energy and Mineral Resources in the state, added that the government had lit up about 600 kilometres of roads in 366 locations in Lagos.

Published by the Punch Newspaper on Wednesday, 18th May, 2016

#Power: Forex scarcity, N300bn revenue shortfall hit power firms

As many parts of the nation continue to experience blackout, electricity distribution companies have said their inability to obtain foreign exchange to import equipment and a revenue shortfall of N300bn are some of the factors hampering their operations. The firms said the low electricity generation occasioned by gas supply shortages as a result of pipeline vandalism meant that power distribution by them would be low.

Published by the Punch Newspaper on Wednesday, 18th May, 2016

#Power: Power generation crashes to 1,400MW- TCN

The quantum of electricity generated in the country fell by over 1,000 megawatts within a space of eight hours on Tuesday. The transmission Company of Nigeria stated that the generated electricity dropped by 1,018.5 MW between 6 a.m. and 3 p.m.

Published by the Punch Newspaper on Wednesday, 18th May, 2016

#MSMEs: SMEs need alternative energy to boost employment-Contec

Small and Medium Enterprises need alternative power supply to boost employment and economic growth as Nigeria moves towards addressing its power deficit, the Chief Executive Officer of London-based Contec Power Systems Limited, Mr Srinivas Ppilla, has said.

Published by the Punch Newspaper on Wednesday, 18th May, 2016

#MSMEs: NNEW plans industrial hub for women

The NECA’s Network of Entrepreneurial Women, as part of its assets acquisition plan, will establish an industrial hub for women-owned businesses. Speaking at the town hall meeting of the network in Lagos, the President, NNEW, Mrs Modupe Oyekunle, said that women would benefit from easy access to raw materials, access to other businesses along the value chain and infrastructure.

Published by the Punch Newspaper on Wednesday, 18th May, 2016

#Health: EU trains health workers on financial prudence

The European Union Support to Immunisation Governance in Nigeria has commenced the training of primary health care practitioners on financial prudence. The three-day conference, which started in Calabar, Cross River State, on Tuesday, has participants drawn from Edo, Cross River, Akwa Ibom, Anambra, Ebonyi, Abia and Rivers State. The training contractor of EU, Mrs Aminata Sidibe, said the workshop was to train the participants on effective fund management.

Published by the Punch Newspaper on Wednesday, 18th May, 2016

#Infrastructure: FG okays proposal to construct Obajana-Kaba Road

The Federal Executive Council (FEC) yesterday approved a proposal by a subsidiary of the Dangote Group to construct the Obajana-Kaba road. Minister of Power, Works and Housing, Babatunde Fashola, told State House reporters that the approval was based on a memo by his ministry seeking to take benefits of tax-policies and laws “for the purpose of using them to drive infrastructure development renewal”.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#Infrastructure: We’ve evolved new initiatives to secure waterways- Peterside

The Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said the agency evolved new security initiatives to effectively police Nigeria’s waters against pirates. Dr Peterside disclosed this yesterday when he led the management staff of NIMASA on a courtesy visit to the management of Media Trust Limited in Abuja.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#Oil#StakeholdersAction: Oil producing host communities give FG 21-day ultimatum

The national executive of the Host Communities of Nigeria Producing Oil and Gas (HOSTCON) has given the federal government a 21-day ultimatum to implement a seven-point agenda and give them what is due to them. A press statement from the Executive National Chairman of HOSTCON, Dr Mike Emuh, said the body recently met and resolved among other things, on the constitution of a National Peace Reconciliation Committee to stem the upsurge, violence, crisis and security in the Niger Delta.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#Oil: Attackers blow up ENI gas pipeline

Unknown attackers late Tuesday blew up a gas pipeline belonging to Italian Oil Company ENI in Ogbembiri, Balyesa State, the company told Reuters yesterday. It was the latest in a string of attacks on oil and gas facilities in the region.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#Health: Nigeria needs strong will to end TB- UN

The United Nation’s Secretary-General’s Special Envoy on Tuberculosis (TB), Dr Eric Goosby, has said strong political will is needed by the government and other stakeholders to enable Nigeria address its high burden of tuberculosis. He stated this yesterday in Abuja during the National Tuberculosis conference organized by the Stop TB Partnership Nigeria (STBPN) and the National Tuberculosis and Leprosy Control Programme (NTLCP) in collaboration with Health Watch.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#Infrastructure: Telecoms infrastructure- Govs not honouring MoU on RoW, NCC says

The Nigerian Governors’ Forum (NGF) has jettisoned the Memorandum of Understanding (MoU) it signed with Ministry of Communications on Right of Way (RoW) and multiple taxations, the Nigerian Communication Commission (NCC) has said.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#ICT: FG encourages ICT entrepreneurship

The Federal Government has said it will reengineer the economy by promoting and encouraging ICT entrepreneurship to stimulate the nation’s economy. Minister of Communications, Adebayo Shittu, who disclosed this in Abuja on Tuesday at a press briefing to commemorate this year’s World Telecommunication and Information Society Day, also said FG would ginger up the economy through the provision of ICT based services, and would make deliberate efforts to adopt the use of ICT in every aspect of our endeavours in order to improve efficiency, effectiveness and productivity in service delivery and business transactions generally.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#Empowerment: Kaduna’s start-up training programme graduates 279

The Kaduna’s Start-up Entrepreneurship Programme (KADSTEP) one of Governor Nasir el-Rufai’s pro-poor programmes has graduated its first set of 279 trainees. Speaking at the graduation ceremony of the first intake and induction of the second batch of trainees, el-Rufai said his administration is targeting 5,000 entrepreneurs to benefit from the training.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#MSME: BoI disburses N48.44m loan in Kaduna

The Bank of Industry (BoI) has disbursed N48.44 million loan to beneficiaries of the Kaduna Start-up Entrepreneurship Programme whose business proposals are bankable. The programme was designed by the Kaduna Business School (KBS) and the BoI to empower aspiring entrepreneurs to be able to access various intervention funds.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#Education: Arewa forum in US to support girl child education

Arewa People’s Forum in the United States of America has said it will offer support in education and empowerment of Northern Nigerian youths, especially the girl-child. A joint signed statement by Umar Muhammad and Martins Ocholi, Interim Chairman and Secretary respectively, said that the 2015 Gender Report compiled by the UNESCO shows that fewer than half of countries in the world have achieved the goal of gender parity in both primary and secondary education and that most remarkable and disturbing is the fact that no country in sub-Saharan Africa was mentioned in the report.

Published by the Daily Trust Newspaper on Thursday, 19th May, 2016

#Economy: Govt earns N3.4tr as states seek access to World Bank’s $3.2b

Five months after the 2015 fiscal calendar, a report from the Central Bank of Nigeria (CBN) has put the Federal Government’s retained revenue in the period at N3.43 trillion.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#Power: System collapse cuts power generation to 65 mega watts

The national grid yesterday experienced another system collapse that has forced power generation to slump to 65.8 mega watts (mw) from 1432mw recorded on Wednesday. The system collapse, which marked the third within one week and fifth in 26 days, could worsen the blackout currently experienced across the country.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#Unemployment: 20 Nigerians unemployed, says Ngige

From the Minister of Labour and Productivity, Chris Ngige, yesterday came the stark revelation that some 20 million unemployed persons exist in the country. Also yesterday, the Minister of Information and Culture, Lai Mohammed, disclosed that in the last four days, no fewer than 37 companies have indicated interest to invest in the nation’s refineries and the downstream sector of the petroleum industry.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#Economy: Reps task panel on activities of export promotion council

Determined to ensure that the country does not depend solely on oil production for its income, the House of Representative yesterday mandated its committee on commerce to assess the level of export promotion in Nigeria and the activities if the Nigerian Export Promotion Council in recent years.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#Event: Nigeria hosts W’Africa infectious disease institute

Nigeria has been chosen for the location of proposed West African Infectious Disease Institute (WAIDI). The choice was necessitated by its effective handling of the deadly Ebola disease and others as polio.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#Economy: Doctors give condition to support fuel price increase

Medical doctors under the aegis of the Nigerian Medical Association (NMA) have given conditions, which they said must be met by the Federal Government before supporting the deregulation of the oil sector with the resultant increase in pump price of petrol.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#SMEs#Agric: Ignored smallholder farmers account for 80% of Africa’s agric production

Worried by the inconsistency in the continent’s agricultural practice, especially in relations to investment in large scale commercial farms, former Secretary-General of the United Nations, Kofi Anan and other stakeholders have decried neglect of smallholder farmers, stating that more than eighty per cent of Africa’s agricultural production come from them.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#Investment: Commissioner lists investment options for government

For a diversification anchored on a sustainable basis, the Commissioner for Finance Lagos State, Dr Mustapha Abiodun Akinkunmi, has called on the Federal Government to pursue investment in new mobile technologies, healthcare and education.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#Technology: NATCOM seeks compensation policy for telecoms consumers

The National Association of Telecommunications Subscribers (NATCOMS) has appealed to the Nigerian Communications Commission (NCC) to put in place a Subscriber’s Compensation Policy that will compensate Subscribers with free airtime.

Published in the Guardian Newspaper on Friday, 20th May, 2016

#Technology#Economy: Experts decries impact of foreign software on Nigeria’s economy

 Chris Uwaje, the former president, Institute of Software Practitioners of Nigeria (ISPON) has expressed displeasure at government and corporate bodies’ fondness for foreign software. Uwaje who is currently the co-chair for Publicity and Communications for Africa, Institute of Electrical and Electronics Engineer- World Forum on Internet of Things (IEEE)-WFIoT, said although ISPON is not calling for outright ban on foreign software, however it is high time the government save the nation from forex elusion and capital flight by engaging local firms with penchants for solutions to challenges peculiar to the country.


Published in the Guardian Newspaper on Friday, 20th May, 2016