CSR NEWS SUMMARY ISSUE 151

#IndustryPulse: Power Sector to Face Collapse as Banks Halt Loans

The inefficiencies in the privatised power sector has made the Deposit Money Banks unwilling to provide loans to electricity generation and distribution firms, an investigation by our correspondent has shown. It was learnt that some banks were shunning loan requests of the power firms, as the financial institutions appeared no more convinced about the viability of investing in the power sector, judging by the happenings in the Nigerian Electricity Supply Industry.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#StakeholdersAction: TUC Condemns Planned Communication Tax

The Trade Union Congress has condemned plans by the Federal Government to impose taxes on GSM calls and other related communication services. The President and acting Secretary General of the TUC, Bala Kaigama and Simeso Amachree, respectively condemned the planned imposition of the Communication Service Tax by the Minister of Communication, Adebayo Shittu, in a statement on Sunday.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#Oil: Eni Begins Work on Nigeria’s Oil Project

Nigerian Agip Oil Company, a subsidiary of Italian oil major, Eni, said it had embarked on the development of the Zabazaba deepwater project offshore Nigeria despite the low oil price environment.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#MSMEs: MSMEs Crucial to Job Creation, Economic Growth

The Chief Executive Officer, Akintola Williams Deloitte Nigeria, Mr Fatai Folarin, says Micro, Small and Medium Scale Enterprises are crucial to job creation and economic growth. He said the greatness of the United States could be attributed to the growth and development of the MSMEs.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#CSR: FCMB Restates Commitment to CSR Initiative

First City Monument Bank Limited has donated 15 Braille machines to the Federal Nigeria Society for the Blind at its Vocational Training Centre located at Oshodi, Lagos State.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#Partnership: Standard Chartered, European Firm in Currency Swap Deal

Standard Chartered says it is committed to supporting regional financial institutions in frontier markets with structured products which mitigate currency risks.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#Infrastructure: LASG Begins Preparations for Oworonshoki Second Access Road

The Lagos State Government has commenced preparations for the construction of Oworonshoki community’s access road. The state government had, a few months ago, said it would construct 114 standard access roads across the state before the end of 2016.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#IndustryPulse: UN-HABITAT Unveils New Urban Planning Agenda

United Nations - Habitat has stressed the importance of adequate city planning to economic development, wealth creation, investments and maintenance of law and order.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#Innovation: Firm Unveils Housing Solution for Middle-Income Earners

Realty Point Limited says it is offering affordable housing development, primarily aimed at providing access to quality housing solutions for middle-income earners through its Cedar Homes Brand.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#Innovation: AIICO Introduces New Ways to Reach Customers

AIICO Insurance Plc has introduces an integrated customer-focused contact centre called AIICONTACT that will give the customers positive experience and better accessibility through different communication platforms.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#IndustryPulse: Ngige Urges ICT Firms to Support Agriculture, Mining

The Minister of Labour and Employment, Dr Chris Ngige, has called on Information and Communication Technology companies in Nigeria to support the economic diversification efforts of the Federal Government, by deploying UCT solutions to the enhancement of the agricultural and mining sector.

Published by the Punch Newspaper on Monday, 22nd August, 2016

#Award: The Sun MD Emerges Editor of the Year

Mr Eric Osagie, Managing Director and Editor-in-Chief of the Sun Publishing Limited, has been honoured with the Hall Of Grace (HoG) award. He was crowned Editor of the Year 2015 at a colorful ceremony last Sunday at the Summit Centre, Ikeja, Lagos.

Published by the Daily Sun Newspaper on Tuesday, 23rd August, 2016

#Infrastructure: FG Promises to Complete Ibadan-Ilorin Expressway in 2019

Chairman, Senate Committee on Works, Senator Kabiru Gaya, has said the Federal Government would complete the Ibadan-Ilorin Expressway by 2019, 14 years after the construction of the highway started.

Published by the Daily Sun Newspaper on Tuesday, 23rd August, 2016

#Health: Lassa fever- 32 Quarantined in Delta After Doctor’s Death

Following the death of a medical doctor from Lassa fever, 32 persons have been quarantined in Asaba, Delta State capital. The late doctor’s hospital in Umuaji area and another private hospital where he was treated at Bonsaac area, all in Asaba, have been shut down and fumigated.

Published by the Daily Sun Newspaper on Tuesday, 23rd August, 2016

#Empowerment: Cement Company Trains Youth on Skill Acquisition

The Lafarge Africa has trained over 50 youths in its host communities to acquire various skills. The beneficiaries fron the ten communities of where the Mfamosing plant is sited are; Akansoko, Akwa Ikot Effanga, Abiati, Mbobui, Ekong Anaku, Diamond, Essien town and Kasuk, in Akampka and Akpabuyo local government areas of Cross River State.

Published by the Daily Sun Newspaper on Tuesday, 23rd August, 2016

#IndustryPulse: CBN Orders Banks to Allocate 60% Forex to manufacturers

The Central Bank of Nigeria (CBN) has ordered banks to sell not less than 60 per cent of foreign exchange (forex) to manufacturers for importation of their raw materials, plants and machinery.

Published by the Daily Sun Newspaper on Tuesday, 23rd August, 2016

#Empowerment: Bank to Flag off Computer Education

In order to boost e-learning in Nigeria, Sterling Bank Plc. has partnered Audax Solutions Limited, an education technology solutions company, by flagging off a computer education initiative.

Published by the Daily Sun Newspaper on Tuesday, 23rd August, 2016

#Economy: Epileptic Power, Major Bane of Setup Boxes, Crumbling Economy

Nigeria is identified as the largest growing telecommunications market in the world by the International Telecommunications Union (ITU), yet the country has poor electricity to compete favourably among world powers.

Published by the Daily Sun Newspaper on Tuesday, 23rd August, 2016

#IndustryPulse: CBN Bars 9 Banks form Forex Transactions

The Central bank of Nigeria has barred nine deposit money banks from all foreign exchange transactions and operations, pending the remittance of $2.12 billion dollars belonging to the Nigeria National Petroleum corporations to the Treasury Single Account. Sources confirmed that the nine banks comprise of three tier-one lenders and another six tier-two deposit money banks.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#Infrastructure: 90% of N/delta Projects Abandoned – Committee

About 90 per cent of the projects whose contracts were awarded under the Ministry of Niger Delta Affairs (MNDA) have been abandoned, the Chairman of the ministry’s Technical Audit Committee, Yerima Bulama, has said.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#Education: Yobe Upgrades Secondary Schools with N1.7bn

Governor Ibrahim Gaidam of Yobe state has said that his administration was committing between N1.5 and N1.7bn to upgrade three secondary schools in three senatorial districts as part of ongoing efforts to improve the quality of education in the state.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#Education: Buhari’s Poor Funding Killing Education - ASUU

The Academic Staff Union of Universities (ASUU), Ibadan zone urged President Muhammadu Buhari to save Nigerian universities by paying N550 billion NEEDS assessment intervention fund.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#Economy: FG Launches Economic Planning Forum in Kano

The Federal Government, in collaboration with the Kana State Government, has commenced the Joint Planning Board (JPB) meeting to draw a comprehensive framework for economic diversification and effective national planning.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#IndustryPulse: Economic Woes – Hundreds of Factories Close Down

The current economic hardship has led to the closure or total collapse of hundreds of factories across the country, the association of manufacturers said yesterday. The Executive Secretary of the Nigerian Association of Small and Medium Enterprises (NASME), Eke Ubiji, explained how in 11 states 222 companies have collapsed or are ailing, a situation that could have been averted if there was patronage of local goods, low rate of foreign exchange and supportive governmental policies.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#Economy: Naira is Worst Performing Currency – Bloomberg

The naira is the worst performing currency this year among more than 150 currencies globally, the Bloomberg media has said. It has depreciated 37 percent against the dollar since the central bank abandoned its peg on June 20, while bond yields have jumped more than 20 percent. The naira strengthened 4.6 percent to 315 per dollar on Tuesday after falling to a record of 350.25 on August 19.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#IndustryPulse: AU Passport will Boost Nigeria’s Tourism Sector

Nigeria’s tourism and hospitality industry might overtake oil sector by 2021 if the recently launched African Union (AU) passport is adopted by the country’s legislator, country manager of Jumia Travel Nigeria, Mr Kushal Dutta, has said.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#IndustryPulse: Nigeria Bottling Company Gets New Managing Director

Nigerian Bottling Company Limited (NBC) has announced the appointment of George Polymenakos as its new Managing Director. He succeeds Ben Langat, who joined NBC as Chief Finance Officer in 2009, and was appointed Managing Director in 2012. Until recently, George Polymenakos was Regional General Manager for Coca-Cola Hellenic Bottling Company (CCHBC) for Moscow, Russia.

Published by the Daily Trust Newspaper on Wednesday, 24th August, 2016

#Economy: Revenue Plunges as Nigeria Loses Aviation Hub to Ghana

Nigeria has lost its status as the aviation hub in West Africa to Ghana, a neighbouring country. Already, the revenue that accrued to Nigeria from the fuelling of aircraft and accommodation of cabin crews of foreign airlines has been taken over by Ghana, which now provides these services.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#Environment: Delta to Demolish Structures Obstructing Waterways

Delta State Government has threatened to pull down any structure obstructing waterways. Commissioner for Land, Survey and Urban Development, Chief Dan Okenyi said yesterday, the government was unwavering in cleaning up the state to avert erosion problems.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#ICT: FG, Huawei Agree on New ICT Growth Initiative

The Federal government and Chinese technology firm, Huawei, have signed a Memorandum of Understanding (MoU), targeted at deepening the country’s ICT ecosystem. The new deal will see Nigerian government officials partaking in Huawei’s flagship Corporate Social Responsibility project ‘Seeds for the Future’.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#Partnership: Firm Launches Community Engagement Initiative Programme in Five States

As part of the effort to stop youth extremism and violence in the country, Micro Development Consulting Limited (MDCL), in collaboration with Office of National Security Adviser (NSA), has launched a Community Engagement Initiative (CEI) in five states Borno, Yobe, Plateau, Kaduna and Kano.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#Oil: 27 Ships with Petroleum Products, Others to Arrive at Lagos Ports

Barring any unforeseen circumstances, about 27 vessels laden with petroleum products and opther commodities are expected to arrive Apapa and Tincan Island ports, going by the facts from the Nigerian Ports Authority (NPA).

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#IndustryPulse: CIPSN Elects New Chairman

The Chartered Institute of Purchasing and Supply of Nigeria (CIPSN) Lagos State Chapter has elected Akeem Bello, a Procurement Officer in the Lagos State Civil Service as Chairman of the chapter for the next two years.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#StakeholdersAction: Cross River Gets Ultimatum to Pay Workers

The Nigeria Labour Congress (NLC), Cross River State Chapter, has given the state government a 21-day ultimatum to settle all outstandings owed workers in the state.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#Empowerment: 350 Benefit from Forest Conservation Training

In view of the issues surrounding the world climate change, 350 men, women and youths from Okuromotet community in Obubra Local Government Area of Cross river State have been trained on forest conservation.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#IndustryPulse: NERFUND Gets New Acting Managing Director

The Federal Government has announced the appointment of Dr Ezekiel Oseni as the new acting Managing Director of the National Economic Reconstruction Fund (NERFUND).

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#Environment: Nigeria Awaits Solar Eclipse

Nigerians cannot wait any longer to experience another eclipse, ten years after the last one on March 29, 2006. Although this time, on Thursday September 1, 2016, it is going to be an annular eclipse unlike the event in 2006, which was a total eclipse. Nigerians are set to experience another spectacle.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#Health#IndustryPulse: U.S.-based Nigerian Doctors Plan to Curb Medical Tourism

The huge amount Nigeria spends yearly on medical tourism will see reduction if the effort of some United Sates (U.S.)-based Nigerian doctors, who returned to the country to fight the challenge is sustained and supported.

Published by the Guardian Newspaper on Thursday, 26th August, 2016

#Business: 20 Shipping Firms Leave Nigeria Over Low Business

Groaning under intense hardship imposed by poor government policies and global economic crunch, over 20 shipping firms have exited the nation’s shores. This is coming as Dockworkers Union of Nigeria (DUN) lamented that over 3,000 workers have already been laid off by various shipping companies, terminal operators and logistic companies, owing to lack of financing and poor import policies of the Federal Government.

Published by the Guardian Newspaper on Friday, 26th August, 2016

#Health: 21m to Die of HIV/AIDS by 2030, 28m at Risk of Infection

A global non-profit organization, AIDS Healthcare Foundation (AHF), has called on world leaders to close funding gap on response to HIV/AIDS. It also urged the Nigerian government to invest in HIV/AIDS response initiatives, instead of being donor dependent.

Published by the Guardian Newspaper on Friday, 26th August, 2016

#Infrastructure: Govt Releases over 50% Vote for Capital Projects

Government has released over 50 percent capital vote to ministries, departments and agencies. Speaking at the 15^th meeting of the Joint Planning Board and National Council on Development in Kano, Vice President Yemi Osinbajo said the administration placed high priority on infrastructural development.

Published by the Guardian Newspaper on Friday, 26th August, 2016

#Event: CIBN Holds 10th Banking, Finance Conference

The Chartered Institute of Bankers of Nigeria (CIBN), has concluded arrangements to hold the 10^th Banking and Finance Conference, slated for September 6 to 8, 2016, at Transcorp Hilton Hotel, Abuja.

Published by the Guardian Newspaper on Friday, 26th August, 2016

#Oil: PwC Harps on Importance of Quick Passage of PIB

Until the Federal Government passes the Petroleum Industry Bill (PIB), regulatory uncertainty will continue to hinder the development of the Nigeria’s oil and gas sector, according to a Price Waterhouse Coopers (PwC) report on current developments in the oil and gas industry in Africa.

Published by the Guardian Newspaper on Friday, 26th August, 2016

#Oil: Nigeria Loses 560,000 Barrels to Vandals in Five Months

The activities of pipeline vandals and oil thieves are taking a toll on the Nigerian National Petroleum Corporation (NNPC), as it lost 560,000 barrels of crude to the refineries as feedstock and 109 million litres of petroleum products between January and May 2016.

Published by the Guardian Newspaper on Friday, 26th August, 2016

#MSMEs: SME 100 Nigeria Trains Entrepreneurs to Boost Dwindling Economy

In a bid to boost small businesses as the bedrock of the nation’s economy, SME 100 Nigeria has continuously empowered youths to promote self-reliance and wealth creation through skills acquisition and marketing.

Published by the Guardian Newspaper on Friday, 26th August, 2016

CSR NEWS SUMMARY ISSUE 150

#Economy: FG in Late Rally to Revive Failing Economy

After months of being in total denial about the precarious state of the economy, the Federal Government has begun to talk up the economy even as offshore portfolio investors continue to shun government fixed income securities.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#IndustryPulse: Bank, Client Daily FX Volumes Surge above $100m as CBN Pulls Back

The average daily volumes traded between banks and clients on Nigeria’s interbank Foreign Exchange (FX) market through the FMDQ OTC platform has surged to over $100 million a day as the Central Bank of Nigeria (CBN), pulls back form actively intervening in the markets.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#Economy: Average Exchange Rate Tells a Different Tale of Africa’s Largest Economies

Despite reports of surrendering top spot to South Africa, Nigeria may still be Africa’s largest economy in dollar terms at the naira’s average exchange rate in the last six months, BusinessDay reports.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#Economy: Major Setbacks on Oil, Gas Reforms Hurt Economy

Nigeria’s economy may be under siege as a result of government mismanagement of the various reforms in the oil and gas industry, according to analysts. According to industry sources, this is as a result of the inability of government to successfully handle the Petroleum Industry Bill (PIB), which has been stranded at the National Assembly for more than seven years with the consequent prevention of investments into the sector.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#IndustryPulse: Services Trade across Africa Opens New Opportunities for Nigeria, Others

The World Bank has said that services sector offers promising opportunities for Africa’s trade diversification, growth, job creation and poverty reduction. But these potentials remain latent on account of regulatory hurdles, limitations to repatriation of earnings, high visa cost, work permit requirements and legal obstacles that providers face in materialising such flows.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#IndustryPulse: Hardware Tech Lapse Causes Revenue Loss in Aviation Sector

Lapses in the nation’s hardware manufacturing industry may have become a major concern for the local airlines , which are enmeshed in yearly payment of over $46 million as compensation due to lack of technology for tracking luggage, analysts say.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#StakeholdersAction: Shippers Raise Alarm Over NCS’ Resolve to Peg Duty on Flexible Exchange Rate

Shippers, including manufacturers, who depend on import for critical production input and raw materials, are raising concern over the decision of the Nigerian Customs Service (NCS) to peg exchange rate on duty payment at flexible market rate.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#StakeholdersActions: Experts Hinges Oil Prices Recovery on Supply Dearth, Curbing Militancy

Analysts at Financial Derivatives Company have said that for oil prices to revert to $85 per barrel in the last quarter of 2016, supply growth must firm at 2 million barrels per day by Organization of Petroleum Exporting Countries (OPEC) and deepwater production volume growth to rise to 11.6m barrels per day by 2020.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#IndustryPulse: Bancassurance Masterclass Targets Upscale Financial Inclusion in SSA

Africa Bancassurance Masterclass, a programme of West Africa Business Schools, targets to upscale financial inclusion agenda in sub-Sahara Africa (SSA). In its third year, the Africa Bancassurance Masterclass is Africa’s top meeting place for bancassurance practitioners. This year’s theme is anchored on Strategy, Marketing and Global Best Practice for Banks and Insurers.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#IndustryPulse: Fitch Affirms BoI’s Sovereign Rating

Fitch Ratings has affirmed the national ratings of the Bank of Industry (BoI) and seven other banks. According to Fitch, the rating actions follow Fitch’s downgrade of Nigeria’s Long-Term Local Currency Issuer Default (IDR) to ‘B+’ from ‘BB-’, as a result of which it is now equalised with the Long-Term Foreign Currency IDR.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#Empowerment: Enterprise Designs Accelerator Programme to Fund Female Entrepreneurs

She Leads Africa, a social enterprise helping young African women achieve their professional dreams has announced an accelerator programme, designed to identify, support and fund the next generation of Nigeria’s brightest female entrepreneurs.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#StakeholdersAction: LASG wants LGs to embrace cashless policy

Sole administrators in the 20 local government councils and 37 local council development areas in Lagos State have been urged to embrace cashless revenue collection through the use of information technology as this will prevent revenue leakages in their various councils.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#Investment: 52-week Trend Shows 42.96% Decline in Average Daily Value of Stocks Traded

In the 52-week period to June, the Nigerian Stock Exchange (NSE) reported about 42.96% decline to N2.60 billion in the average daily value of stocks traded.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#Environment: Support Comes to Research in Niger Delta

The Acting Managing Director of the Niger Delta Development Commission (NDDC), Ibim Semenitari, says that supporting research in Nigerian universities is critical to driving development in the Niger Delta region and guaranteeing better livelihoods.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#IndustryPulse: MAN Says Exclusion of 41 Items from FX Shut down 50 Industries

The Manufacturers Association of Nigeria (MAN) says the policy of excluding 41 items from exchange rate market has shut down at least 50 industries. Frank Udemba Jacobs, president, MAN, said this during the presidential dialogue session organised by the Lagos Chamber of Commerce and Indutry (LCCI), attended by Yemi Osinbajo, Nigeria’s Vice President.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#Energy: Dangote Urges Multinationals to Explore Coal Option as Gas Scarcity Bites

Aliko Dangote, President of Dangote Group and Africa’s richest man, wants manufacturers, especially large corporations and multinationals, to explore the option of using coal in the face of gas scarcity.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#IndustryPulse: MAN’s New Power Firm Will Reduce Production Cost

The new power company floated by the Manufacturers Association of Nigeria (MAN) will help cut production costs for manufacturers, according to Ibrahim Usman, vice-president North-west zone, MAN Independent Power Projects (IPPs).

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#StakeholdersAction: NLC to Resist Increase in Petrol Pump Price

Nigeria Labour Congress (NLC) on Sunday rose from it Central Working Committee (CWC) meeting in Lagos, warning it would mobilise to resist attempt whatsoever to further increase the pump price of petrol.

Published by the BusinessDay Newspaper on Monday, 15th August, 2016

#Economy: Oyo Moves to Exploit Culture, Tourism for IGR Drive    

Oyo State is designing a roadmap towards exploiting its rich culture and tourism to boost Internally Generated revenue (IGR). Commissioner for Information, Culture and Tourism, Toye Arulogun said this in an interview with The Nation yesterday.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#MSMEs: GreenHouse Capital invests $10m in tech startups

A Venture Capital (VC) firm, GreenHouse Capital, said it is going to invest $10 million in two tranches of $5 million each. It has however, spent over $3 million spread across 13 start-ups.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#Award: Smile Wins Broadband Service Award

Smile Communications has won The Most Innovative Broadband Service Provider of the Year Award. The award was one of the highpoints of Titans of Tech Awards in Lagos at the weekend.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#IndustryPulse: Importers Spend N2.29t on Textile, Rice, Fish Others

Importers of textile materials, rice, fish, wheat and sugar, spend close to N2.29 trillion to bring the commodities to Nigeria, yearly, The Nation learnt. A senior official of the Federal Ministry of Finance, who spoke on condition of anonymity, condemned the high rate of smuggling of the items into the country. The official said textile materials importers spend close to N1.29 trillion annually to ferry the items into the country.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#Empowerment: NDE trains 120 in Taraba

The National Directorate of Employment (NDE) in Taraba State is training 120 youths in skill acquisition. The participants are being trained in such vocational skills as computer/ICT, barbing, cloth making, hair weaving cum dressing, tailoring and GSM repairs, among others.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#Philanthropy: Corps Member Gives Free Eye Surgery to 30 People

Succour cane the way of 30 indigent people suffering various eye ailments in Minna, the Niger State capital, when a National Youth Service Corp member Dr Uwaeze Oke Ikesinachi sponsored a free eye surgical intervention for the patients.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#StakeholdersAction: Workers Sue Firm Over Non-payment of Benefits

Over 200 former workers of Global Scansystems Limited have sued the company at the National Industrial Court of Nigeria (NIC) for its alleged failure to pay their severance benefits.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#Empowerment #Entrepreneurship: Diamond Bank Promotes Entrepreneurship

Diamond Bank Plc has launched this year’s edition of Building Entrepreneurs Today (BET) programme. The Diamond Bank BET is an SME initiative aimed at generating interest in entrepreneurship to express Diamond Bank’s readiness to support and encourage entrepreneurs in Nigeria.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#CSR: FCMB donates to the Blind

First City Monument Bank (FCMB) Limited has donated 15 Braille machines to the Federal Nigeria Society for the Blind (FNSB) at its Vocational Training Centre (VCT) Oshodi, Lagos State.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#Health: Cardiologists Cautions on Heart Diseases

Nigerians have been advised to be conscious of what they eat and drink to minimise the risk of heart related diseases. A cardiologist based in the United States (U.S.), Dr Sabu George, yesterday alerted that many staple food and beverages being consumed are prone to heart related diseases.

Published by The Nation Newspaper on Tuesday, 16th August, 2016

#Oil: Crude Oil Prices Hit Over 5-week Highs, Brent Sell at $48.81

The prices of crude oil in the international market yesterday reached their highest levels in more than five weeks due to heightened speculations that Organisation of Petroleum Exporting Countries (OPEC) will embark output cut to prop up prices.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Economy: External Reserves Down as CBN Settles Matured Obligations

Nigeria’s external reserves diminished to $25,860 billion as at August 12, 2016, following the settlement of matured obligation by the Central Bank of Nigeria (CBN). The latest external reserves position revealed by the CBN showed that the reserves derived mostly from the proceeds of crude oil sales fell by 1.9% or N514 million in the last one month, compared with the $26.347 billion it was at July 12, 2016.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#IndustryPulse: APTCON Moves to Boost Transport Sector

Private transport company owners under the aegis of Association of Private Transport Companies of Nigeria (APTCON), have called on stakeholders in the sector to tap into every potential the sector has to offer for its growth and development.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#IndustryPulse: Forex Scarcity- Port Terminal Operators Lament Low Cargo Volumes

Private terminal operators, otherwise known as concessionaires operating at the nation’s seaports are facing difficulties in their operations as the cargo volumes they handle continue to decline. The hardship is compounded by the inability of most of them to procure dollars to meet their business obligations.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Innovation: OdooSME ERP Solution Launched to Boost SME Growth

A new software solution has been developed and launched into the market, designed to support the business growth Small and Medium Enterprises (SMEs) and to revolutionise the way small businesses are done in Nigeria.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#IndustryPulse: Sterling Bank Launches Diaspora Services

In line with its enriching life mantra and plan to extend its unique banking services abroad, Sterling Bank Plc, over the weekend, announced the launch of Sterling Diaspora Services for Nigerians based outside the shores of the country.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Education: Improper Implementation of Policy Cause of Basic Education Decline

Lack of proper implementation of education policies has been identified as one of the factors contributing to the decline of basic education in the country. The Director, Al-Hikma International School, Alhaji Abdulrazzaq Ahmad, disclosed this in Abuja during the third graduation ceremony and seventh speech and prize-giving day of the school.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Education: Lagos Regulates Tutorials Continuing Education Centres

The Lagos State Ministry of Education as part of its commitment to regulate various segment and activities in the education sector has directed operators of tutorial/continuing education centres in the state to register with the ministry’s Agency for Mass education.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Stakeholders’Action: Integrate Agriculture intro Education, Govt told

Given the current economic realities and the need to diversify the nation’s economy, provide jobs for Nigeria’s teeming population and attain sufficiency in food production, the former Vice-Chancellor of the University of Lagos, Professor Oye Ibidapo-Obe has advised governments to see agriculture as the next area to shore up the economy.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Employment: Ministry Canvasses Employment Generation for Epe Youth

The Lagos State Ministry of Wealth Creation and Employment recently held stakeholders Forum and interactive session aimed at reducing the unemployment rate among the youths and creating wealth for Lagosians.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Economy: NEXIM Highlights Opportunities in Non-oil Export Facilities

The Nigerian Export Import Bank (NEXIM Bank) has advised exporters to take advantage of the N500billion Non-oil Export Stimulation Facility (ESF) as well as the expansion of the export credit Rediscounting and Refinancing Facilities (RRF) to boost their operations and create jobs.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#StakeholdersAction: FG Urged to Enforce Risk Management in Parastatals

The Federal Government has been advised to enforce risk management practices in al, its ministries, departments and agencies (MDAs) so as to be able to withstand shock during the period of economic downturn.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#IndustryPulse: FG Seeks $7bn to Kick-start Mines, Steel Industry

Nigeria is looking for investment to the tune of $7billion in mining and steel over the next decade as it seeks to develop gold and iron-ore extraction industries to diversify its oil-dependent economy. One of the government’s priorities is to meet its annual steel demand of 6.8 million metric tonnes, from a current output of a third of that, produced mainly from scrap iron. Solid Mineral Development Minister, Kayode Fayemi said.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Education: Set to Spend N3bn on High Impact Research

In a move to scale up research in the education sector, the federal government had set aside over N3billion for high impact research intervention fund for researchers in public tertiary institutions in Nigeria.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Health: Nigerian Turkish Hospital Performs Open Heart Surgery

The Nizamiye Hospital has successfully carried out an open-heart surgery in Abuja. This was contained in a statement released by the management of the hospital.

Published by the This Day Newspaper on Wednesday, 17^th August, 2016

#Oil: FG Okays Four Oils Wells for Lagos, Rejects One

The Federal Government says four of the five oil wells discovered in Lagos belong to the state. It added that the fifth oil well could not have belonged to the state since its location fell outside the approved distance.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Infrastructure: Work to Commence on Pen Cinema Flyover, other projects

The government of Lagos State on Wednesday said it would soon start some projects designed to improve the standard of living in the state. The Commissioner for Information and Strategy, Mr Steve Ayorinde, at a news conference in Alausa, Ikeja, on Wednesday said the state would soon commence the construction of a flyover at the Pen Cinema junction in the Agege area.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Health: FG Releases N9.8bn to fight polio in N’East

The Federal Government has released N9.8 billion to fight against the polio outbreak especially in the North East affected by the activities of Boko Haram insurgents.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Health: Drug Scarcity Hits Aso Rock Clinic Despite N3.87bn budget

Despite the N3.87bn allocated to it in the 2016 Appropriation Act, lack of drugs and other essential medical items have crippled operations at the State House Medical Centre, The Punch has learnt.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Empowerment: FG jobs

Sokoto State Governor, Aminu Tambuwal, has set up a taskforce that will mobilise unemployed graduates and other qualified individuals in the state to ensure full participation of the state in the Federal Government’s social intervention programmes.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Oil: FG Orders Mass Importation of Kerosene, say marketers

In a bid to check the arbitrary increase in the pump price of Kerosene, the Federal Government has placed an order for massive importation of the product, oil marketers have said.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Energy: Prices of Gas Rises By 60%

Following the free fall of the naira against the United States dollar, the cost being incurred for the purchase of gas for power generation has risen by about 60 per cent, our correspondent has learnt.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Economy: Retail sector to Face Challenges, Says Report

The country’s retail sector will continue to face significant challenges over the next 12 months as a result of its dependence on higher foreign exchange rates offered in the parallel market, analysts have said.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#StakeholdersAction: LCCI Kicks Against Communication Tax Bill

The Lagos Chamber of Commerce and Industry has declared that there is the likelihood that the Communicate=ion Service Tax Bill currently before the National Assembly will be challenged in the court of law because it raises the issue of double taxation, among others.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#IndustryPulse: CBN Grants Fidelity Bank E-commerce Licence

The Central Bank of Nigeria has granted Fidelity Bank Plc final licence to operate electronic commerce services in Nigeria. In a statement on Thursday, it said the development would enable the lender to empower Micro Small and Medium Enterprises in line with its strategic business objectives.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#StakeholdersAction: Access Bank, Verve promote cashless transaction

Access Bank Plc has partnered Verve International to promote cashless transactions in the country. The lender said the collaboration was designed to enhance customer education and financial inclusion.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Power: Nigerian Received Lowest Electricity Supply in May

Power generation in Nigeria fell to a record low in May, with households experiencing an average daily cumulative supply at 5.6 hours, a new report by NOIPolls revealed.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#Empowerment: Foundation Trains Students in Renewable Energy

The Working to Advance African Women Foundation, a non-governmental organization, has trained female secondary school students in how to generate electricity through renewable energy sources.

Published in the Punch Newspaper on Thursday, 18th August, 2016

#IndustryPulse: Operators Count Losses as earnings Plunge inn Maritime Sector

Due to the global crisis, many of the operators in the nation’s maritime sector recorded financial losses in the first half of this year. Orders for both new and second hand vessels have plunged significantly.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Economy: Nigeria Needs to Diversify for Sustainable Revenue, Says Osinbajo

Vice President Yemi Osinbajo said yesterday at a meeting of governors and leaders of All Progressive Congress (APC) in Ibadan that Nigeria must begin to look beyond oil to other areas that would generate sustainable revenues.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Infrastructure: No Water Project Completed in Past 15 years, Says Minister

The Minister of Water Resources, Suleiman Adamu, has disclosed that in the last 15 years, no water project was fully completed and commissioned. Lamenting the poor state of the water sector, he said that as at 2015, the administration inherited outstanding liabilities to contractors handling some ongoing water projects to the tune N88.8bn.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Health: Anxiety as Lassa fever Kills Doctor, Three Others in Anambra

Lassa fever is back in the country as a doctor and three others have died of the disease in Anambra State. The state director of Public Health, Dr Emmanuel Okafor, confirmed the deaths yesterday at a one-day Lassa fever training workshop organized by the Ministry of Health.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Environment: ‘Involve Host Communities in Parks Privatisation

The Minister of Environment, Mrs Amina Mohammed, has canvassed for a clearly defined role for host communities in the proposed commercialisation of the Country’s National Parks.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Technology: GreenHouse Capital to Invest $10m in Tech Expansion

Thirteen local technology start-ups are billed to benefit from GreenHouse Capital, a venture capital firm, which planned an investment of over $10 million for expansions.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#IndustryPulse #Partnership: Afreximbank, ICCO, NEXIM other partner on intervention for cocoa sector in Nigeria

In a bid to revive the ailing cocoa industry in the country, Afreximbank and the International Cocoa Organization (ICCO) have partnered with the Bank of Agriculture (BOA) and the Nigerian Export-Import Bank (NEXIM) on possible ways of intervention and development of the cocoa industry in Nigeria.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#MSMEs #Technology: Firm Urges Adoption of New Technologies for Growth

For businesses, especially the Small and Medium scale Enterprises (SMEs) to be more efficient in their operations, technology adoption has been described as very essential.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Infrastructure: Fashola to Unveil Blueprint on Housing at AUHF

As part of efforts to address the challenges in the housing sector, the Minister of Power, Works and Housing, Babatunde Raji Fashola (SAN) has concluded plans to unveil Nigeria’s blueprint on the way forward for the sector.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Economy: Nigeria May Lose Over $25bn to NLNG Act Amendment

The Nigeria Liquefied Natural Gas (NLNG) has warned that any move to tinker with the 2004 Act would violate bilateral agreements with international investors as well as cost the country a whopping $25 billion in Foreign Direct Investment (FDI) and fines running in billions at the International Courts.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Investment: Profit-taking takes toll on NSE, indices down by N6b

Equity transactions on the Nigerian Stock Exchange (NSE) closed on a downward note, reversing the three days consecutive appreciation, even as marker capitalisation plummets by N6 billion.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Empowerment: Wema Bank empowers Young entrepreneurs at NSFDW 2016

Wema Bank has rewarded the most creative designer with start-up funds in the grand finale of the 2016 Nigeria Student Fashion and Design Week (NSFDW). At the event, which was held at the Indoor Sports Hall, University of Lagos, SMEs packages were also given to other participants.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Agric: Cross River Hands Over Land for Rice Cultivation to Investor

In a bid to improve in agriculture food production, Cross River State Government has provided 1000 hectares of land for rice cultivation in Bansara. The Commissioner for Agriculture and Natural Resources, Prof. Anthony Eneji, stated this at the weekend in the ground breaking and handing over of Bansara Rice farm in Ogoja Local Council Area, to Paul B Nigeria Plc.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#Award: Ecobank Gets Award

Ecobank has won Customer Relationship Management of the Year, Retail risk Management Initiative of the Year and Best Business Model Execution in West Africa for 2016 at The Asian Banker’s first yearly West Africa Awards Ceremony in Lagos.

Published by The Guardian Newspaper on Friday, 19th August, 2016

#MoUs: Lagos, ALTON Agreement on Smart City Initiative Expires

The Memorandum of Understanding (MoU) between Lagos State Government and Association of Licensed telecommunications Operators of Nigeria (ALTON) as part of efforts to mitigate the challenges hindering the roll-out of telecommunications facilities across its domain has expired, making way for arbitrary changes by the authorities if not renewed.

Published by The Guardian Newspaper on Friday, 19th August, 2016