Nigeria CSR Reports: CSR NEWS SUMMARY ISSUE 157

#IndustryPulse: Sub-Saharan Hotel Sector to Grow by 3-5% P.A

The hotel and hospitality industry is expected to grow by 3 to 5 percent per annum in the next three years according to an overview report on Hotel Real Estate in Sub-Saharan Africa by JLL Sub-Saharan Africa.

Published by the Business Day Newspaper on Monday, October 10, 2016

#StakeholdersAction: Pension Assets - Opportunity to Bridge Nigeria’s Infrastructure Gap and Earn Decent Yield

The Federal Government (FG) may have stimulated the process of accessing the pension assets for funding infrastructure development in Nigeria. According to the 2017 budget proposal, the FG proposes to set up a $25 billion Infrastructure Development Fund.

Published by the Business Day Newspaper on Monday, October 10, 2016

#Investment: Tier 2 Banks In Spotlight as Cheap Valuations Lure Investors

Foreign investors are beginning to show interest in Nigerian banks as the combination of rising inflation, dollar scarcity and high exposure to the oil and gas have undercut assets prices.

Published by the Business Day Newspaper on Monday, October 10, 2016

#Economy: Yields Rise, As Naira Challenge Remain Despite Oil Rally

Analysts say currency market liquidity in Nigeria is set to remain challenging in the second half of 2016 even as oil prices have rallied above $50 per barrel. This is probably due to uncertainty regarding Nigerian oil output and the still negative FX environment in the country regarding central bank controls on free trading on the interbank FX market.

Published by the Business Day Newspaper on Monday, October 10, 2016

#StakeholdersAction: NATCOM Looks to Boost Firepower with Private Placement

NatCom Development and Investment Ltd (NatCom) trading as (ntel) is in the process of raising equity capital through a Private Placement, sources familiar with the matter tell Businessday. Private placement (or non-public offering) is a funding round of securities, which are sold not through a public offering, but rather through a private offering, mostly to a small number of chosen investors.

Published by the Business Day Newspaper on Monday, October 10, 2016

#Empowerment: Anambra Approves N35m Loan to Youth Entrepreneurs in Onitsha

Anambra State Government, through its Small Business Agency (ABSA) has approved thirty-five million naira loan to 70 youths from Onitsha, to enhance their businesses. Willie Obiano, the State Governor, confirmed the development, while responding to the address of the Obi of Onitsha, His Majesty, Igwe Nnemeka Achebe, at the 2016 Ofala Festival.

Published by the Business Day Newspaper on Monday, October 10, 2016

#Empowerment: FG to Employ 200,000 before Month-End, Says Osinbajo

Nigeria’s Vice President, Mr. Yemi Osinbajo, on Tuesday said the Federal Government would employ 200,000 unemployed graduates by the end of the month. Osinbajo, who spoke to journalists at the Presidential Villa, said a number of social investment programmes of the Buhari presidency have reached advanced stages. The direct governments jobs are meant to keep young people occupied pay them some amount of money and give them a device. He said the device would also help them to learn several skills that they could develop with time.

Published by the Punch Newspaper on Tuesday, October 11, 2016

#StakeholdersAction: FG to Domesticate Early Marriage Act –Minister

The Minister of Women Affairs and Social Development, Senator Aisha Alhassan, said on Tuesday in Kaduna that the Federal Government would domesticate the Early Marriage Act in order to curtail the practice. Alhassan said this while addressing a press conference as part of activities marking the 2016 International Day of the Girl-Child.

Published by the Punch Newspaper on Tuesday, October 11, 2016

#Environment: FG May Ban Wood Export, Says Environment Minister

The Minister of Environment, Mrs. Amina Mohammed, on Tuesday said the Federal Government might ban the exportation of wood from Nigeria in order to prevent deforestation. She said it was time the country started to conserve its ecosystem, stressing that Nigeria cannot continue to be a party to international protocols and conventions that affect trade and survival of the Nigerian economy negatively.

Published by the Punch Newspaper on Tuesday, October 11, 2016

#Stakeholdersaction: U.S. Provides $92.7m to Reduce Poverty in Nigeria

The United States Government has announced the sum of $92.73m in developmental assistance to support the five-year $2.3bn agreement signed with the Federal Government in 2015. The U.S. Embassy in a statement on Tuesday in Abuja said that the amount was being provided through the U.S. Agency for International Development.

Published by the Punch Newspaper on Tuesday, October 11, 2016

#Event: #DayOfTheGirl - World Stands Still For the Girl Child

11th October 2016 is International Day of the Girl. The day focuses girl’s rights around the world and in many cases, their lack of rights. The UN’s theme for the day is “Girls’ Progress = Goals Progress: What Counts for Girls”.

Published by the Punch Newspaper on Tuesday, October 11, 2016

#Health: WHO Urges Price Hikes on Sugary Drinks in Obesity Fight

The UN health agency on Tuesday urged countries to start taxing sugary beverages as they fight against an obesity epidemic, pointing to evidence that price hikes can dramatically reduce consumption. The World Health Organisation’s recommendations on sweetened beverages came as the world seeks to bring down whopping obesity rates, with one in three adults overweight.

Published by the Punch Newspaper on Tuesday, October 11, 2016

#Economy: Economic Growth Depends On Patronage of Nigeria-Made Products — Buhari

President Muhammadu Buhari has said his greatest desire is to guide Nigeria to become an export-led economy. According to him, there is no way to achieve this without building the right economic foundation of patronising made-in-Nigeria goods and services. The President, who made the remarks at the 22nd Nigerian Economic Summit in Abuja on Monday, urged Nigerians to develop interest in made-in-Nigeria products.

Published by the Punch Newspaper on Tuesday, October 11, 2016

#StakeholdersAction: There’s Hunger, Starvation In The Land, Northern Leaders Tell Buhari

Northern leaders gathered on Monday in Kaduna, the Kaduna State capital and told President Muhammadu Buhari to work harder at fixing the nation’s economy because there was hunger and starvation in the land.

Published by the Punch Newspaper on Tuesday, October 11, 2016

#StakeholdersAction: Stakeholders Harp On Data Sharing To Meet Consumers’ Demands

Stakeholders have reiterated the importance of collecting and analysing big data to inform decisions enabling small-scale producers to improve their livelihoods and better respond to consumers. According to the stakeholders, using such data assists producers in meeting demands for products that respond to their social and environmental values.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#StakeholdersAction: NDIC Targets More Than 50% Reduction of Financially Excluded Population By 2020

By the year 2020, the population of financially excluded in Nigeria – that’s those not captured in either banking, insurance, pension and other forms of financial services will be reduced by more than 50 per cent. That’s the target of the Nigeria Deposit Insurance Corporation (NDIC) under its financial inclusion and literacy project under the auspices of the Financial System Strategy 2020 (FSS2020), which is collaboration with Central Bank of Nigeria (CBN) and other financial service regulatory agencies in the country.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#StakeholdersAction: Government to Provide Technical Assistance on Mining to States

The Minister of Mines and Steel Development, Dr. Kayode Fayemi, said the Ministry is willing to provide logistics and technical assistance to state governments, in a bid to boost investment in the mining sector. He disclosed this when he received the Ebonyi State Governor, David Umahi, in his office, saying that the diversification plan of the government would be better realized with states’ involvement in mining ventures.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#Energy: Oil Firms Back Nigeria’s Gas Development Agenda

Oil and gas firms, including Chevron Nigeria Nigeria Limited, Energia Limited, and Lekoil have expressed support for Nigerian Gas Association (NGA) as it prepares to stage the largest gathering of gas players and stakeholders in West Africa later this month in Abuja.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#Innovation: Firm Unveils LPG to Power Cars

It appears the days of fuel scarcity and emission of fumes into the environment may soon be over with the introduction of Liquefied Petroleum Gas (LPG) for automobiles in the country. This latest innovation – the LPG-powered car – was unveiled by Banner Gas Energy Nigeria as part of activities to mark this year’s Independence Day celebration in Lagos. With this innovation, a car will not be powered by petrol but by a gas, with 17kg cylinder mounted in the car trunk. With the push of a button, the car can be driven on gas while no fumes will be released into the air, and it can revert back to petrol whenever desired.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#Awards: 110 Students Get NNPC/SNEPCo Scholarships

Some 110 students from Nigeria’s six geo-political zones have been awarded full-board six-year secondary school scholarships in the second set of the NNPC/SNEPCo Cradle-to-Career programme designed to give top quality education to bright but indigent youths. The beneficiaries have begun their studies in six schools – Premiere Academy, Abuja; Nigerian Turkish International College, Kaduna; St. Francis Catholic Secondary School, Lagos; Lead Forte Gate College, Lagos; Top Faith International Secondary School, Akwa Ibom State and Grundtvig International Secondary School, Anambra State.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#Energy: Gas Supply Shortage Worsens As Generation Rises To 4,202.7mw

But for gas supply challenges, which constrained over 3,321 Mega Watts (MW) of electricity, the nation’s total electricity generation would have hit 7,529MW in the last one month. Although, the country is presently generating 4,202.7MW, which was made possible by the contribution of hydro power plants, this is less than the installed capacity of 11,165.40MW of electricity in the country.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#StakeholdersAction: WTO, Others Advocate Trade As Engine Of Growth

The World Trade Organisation (WTO), International Monetary Fund (IMF) and World Bank have advocated improved trade performance despite the lingering sluggish economic growth and weak investment activity. According to the institutions, there is a need to make credible and balanced case for trade to ensure that economic challenges are properly addressed without necessarily opting for protectionist policies.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#StakeholdersAction: UNCTAD Seeks Balance Between Regulations, Consumer Protection

Regulators must strike a delicate balance between protecting consumers and the environment on the one hand and not restricting trade on the other, the United Nations Conference on Trade and Development (UNCTAD) has said. Indeed, with global trade set to grow at its slowest pace since 2009, some analysts now see new opportunity for trade growth in the more efficient application of health, environmental and other regulations, commonly known as non-tariff measures (NTMs).

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#Infrastructure: Stakeholders Harp On Infrastructure for Value-Chain Development

While the Federal Government is exploring opportunities in the agric sector to improve food production and other commodities, stakeholders in the private sector have harped on the need for infrastructural development to drive value-chain growth. Director-General, Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, noted that government has been targeting increased production output in the agric sector without recourse to the value-chain, which is heavily dependent on infrastructure.

Published by the Guardian Newspaper on Wednesday, October 12, 2016

#Investment: CBN Institutes Monopoly in Forex Trading

The Central Bank of Nigeria (CBN) might have inadvertently instituted a monopolistic system solely enjoyed by the First Bank of Nigeria Plc. But some analysts have described the decision to ban all other banks from trading in foreign exchange (forex) with Bureau de Change (BDC) as “very strange”.