CSR NEWS SUMMARY ISSUE 158

#Education: Sokoto Becomes First State to Initiate Bill for Right to Education

Governor Aminu Waziri Tambuwal of Sokoto State has initiated the Right to Education Bill 2016 in recognition and protection of the right to education of children between 6 and 18 years in the state. This is the first time any state in Nigeria will seek to legally make education a fundamental human right of all children. The bill is one of the major components of the policy on the state of emergency in the education sector declared in the state in December 2015.

Published by This Day Newspaper on Tuesday, October 18, 2016

#MSMEs: FG Shops for Investors, Showcases 16 Startups to IBM, Others

The Minister of Communications, Mr. Adebayo Shittu, the Head of Service of the Federation (HoS), Mrs. Winifred Oyo-Ita, and the Governor of Plateau State, Mr. Simon Lalong, on Tuesday, called on IBM, LG Electronics, Microsoft, Avaya, Lenovo, Oracle and other ICT players to invest in the country. While soliciting for more investment in the nation’s ICT ecosystem, Shittu averred that Africa is the new destination of choice for global investments in ICT  infrastructure, hardware or software and other smart devices.

Published by This Day Newspaper on Tuesday, October 18, 2016

Oil: FG, India to Sign Deal on $15bn Upfront Payment for Nigerian Crude

The Federal Government is set to sign a cash-raising oil deal with India for $15 billion by the end of this year, just as Nigeria’s oil production is also expected to rise by 22 per cent to 2.2 million barrels per day in the same period when oil companies lift the force majeure on fields that were shut down as a result of militancy in the Niger Delta.

Published by This Day Newspaper on Tuesday, October 18, 2016

#Empowerment: Fidelity Bank, Gazelle Train 500 Unemployed Youths in Kebbi

In furtherance of its quest to improve the wellbeing of communities where it does business, Fidelity Bank Plc, in partnership with Gazelle Academy and Waziri Umaru Federal Polytechnic, Birnin Kebbi have empowered 500 Nigerians through entrepreneurial skills. The programme, which was part of the bank’s corporate social responsibility (CSR) initiatives, was aimed at equipping Nigerian youths with skills and capabilities needed to take advantage of available opportunities to drive socio-economic development.

Published by This Day Newspaper on Tuesday, October 18, 2016

#IndustryPulse: Shell Appoints New VP for Nigeria, Gabon

Shell has appointed Peter Costello as its new Vice President for Nigeria and Gabon. A statement signed by the company’s spokesperson, Bamidele Odugbesan, stated that Costello succeeded Markus Droll, who assumes a new role of Executive Vice President, Projects, Shell International in Rijswijk, Netherlands.

Published by the Punch Newspaper on Wednesday, October 19, 2016

#IndustryPulse: Naira Shortage Pushes Interbank Rate to 150%

Overnight interbank rate was quoted at a record high of 150 per cent on Tuesday, two days after commercial banks placed funds with the Central Bank of Nigeria to participate in last Friday’s currency forward auction. Traders said few deals were done on Tuesday due to a shortage of naira on the money market, with banks unwilling to place funds among themselves until the result of Friday’s currency auction was published.

Published by the Punch Newspaper on Wednesday, October 19, 2016

#IndustryPulse: FIRS Seals Oil Servicing Firms for Tax Evasion

The Federal Inland Revenue Service on Tuesday sealed the premises of two oil servicing companies for evading tax worth over N500m in Uvwie Local Government Area of Delta State. The companies, Bredero Pipelines Services at Sedco Road, Enerhen, and JAD Construction, along Enerhen Road, Uvwie, were shut by the FIRS enforcement team headed by Ruth Mandeun.

Published by the Punch Newspaper on Wednesday, October 19, 2016

#Infrastructure: Nationwide Job Centres Ready By March – FG

The Federal Government on Tuesday announced that it would locate job centres in all local government areas across the country before the end of March next year. The government stated that the job centres, with at least one in every local government, will be used to gather data on the actual number of unemployed persons in the country, adding that it was perfecting all requisite processes needed to actualise this.

Published by the Punch Newspaper on Wednesday, October 19, 2016

#Oil: Oil at $52 Will Help Economic Recovery – Rewane, Others

As the global crude oil benchmark continued to trade above the $50 per barrel mark on Tuesday, economic and energy experts said, the price rally would help soften the recession rocking the country and support economic recovery. They, however, described as more important the need to ramp up the nation’s crude oil production, which has been significantly disrupted by the recent upsurge in militant attacks in the Niger Delta.

Published by the Punch Newspaper on Wednesday, October 19, 2016

#Economy: FG Targets $1bn from Broadcast Frequency Sale

The Federal Government plans to earn at least $1bn from the sale of broadcast frequency to be converted to telecommunications services as the nation moves to transit from analogue to digital broadcasting by June 2017. The Minister of Information and Culture, Alhaji Lai Mohammed, gave this indication in a remark at the 11th edition of Africast, which opened in Abuja on Tuesday.

Published by the Punch Newspaper on Wednesday, October 19, 2016

Investment: Chinese Businessmen Desperate To Invest In Nigeria – Envoy

DESPITE the current economic recession in the country, the Chinese Ambassador to Nigeria, Mr. Zhou Pingjian, on Tuesday said he had been inundated with requests by investors from his country who he stated had been “falling over one another” to explore business opportunities in Nigeria.

Published by the Punch Newspaper on Wednesday, October 19, 2016

#IndustryPulse: FCMB Transforming To Retail Banking’

The First City Monument Bank Limited says it is transforming itself from being one of Nigeria’s leading investment banks to one of the fastest growing retail banks. The financial institution said it now had branches and alternate channels all over Nigeria, saying, “This year, the bank has acquired an average of 53,000 new customers monthly and has continued to maintain this steady acquisition momentum.”

Published by the Punch Newspaper on Wednesday, October 19, 2016

#Oil: Nigeria’s Oil Reserves May Dry up in 30 years, Experts Warn

The country’s crude oil reserves may dry up in the next 30 years, says Nigerian national association of petroleum explorationists. President of the association, Nosa Omorodion, raised the alarm in Lagos, yesterday, at a media briefing to announce programme schedule for NAPE’s yearly conference.

Published in the Guardian Newspaper on Friday, October 21, 2016

#Business: Members of MAN Plans to List Shares on NSE

Manufacturers Association of Nigeria (MAN) has disclosed plans by the members to list their shares in the Nigerian Stock Exchange (NSE). The director general of the association,            Segun Ajayi-Kadir, during the associations ringing bell ceremony at the exchange in Lagos on Wednesday assured that more members had also indicated interest to list their shares on the market.

Published in the Guardian Newspaper on Friday, October 21, 2016

#Awards: Africa Business Leadership Awards for 16 in Lagos

Identifying game changing business leadership in a variety of categories, the 2016 All African Business Leaders Awards, yesterday, celebrated those who have forged and helped shape the West African business world.

Published in the Guardian Newspaper on Friday, October 21, 2016

#MSMEs: BoI, Benue Govt. Seal N2bn MSMEs Financing Deal

The Bank of Industry (BoI) has co-launched a 2billion Micro Small and Medium Enterprises (MSMEs) development fund with the Benue State government.

Published in the Guardian Newspaper on Friday, October 21, 2016

#Business: Spain to Setup Manufacturing Companies in Nigeria

The government of Spain has revealed plans aimed at setting up Spanish manufacturing companies among other businesses in Nigeria, which is targeted at exploring economic potential and build business plans in Nigeria.

Published in the Guardian Newspaper on Friday, October 21, 2016

#IndustryPulse: Firm Unveils New Digital Products in Nigeria

SKYSAT Technologies Nigeria limited, the sole distributors of Konica Minolta digital print solutions in Nigeria has announced the introduction into the Nigerian market the latest range of products from the manufacturers stable.

Published in the Guardian Newspaper on Friday, October 21, 2016

#Empowerment: Academy Tasks Firms on Capacity Building

To fill the vacuum left behind by those who left their jobs following the massive sack of workers as a result of the country’s economic recession, Growth Academy (GA) has tasked firms to build their employees capacity on multi task.

Published in the Guardian Newspaper on Friday, October 21, 2016

#Empowerment: Entrepreneurship Development Gets N1.5b Support from Foundation

The Leo Stan Ekeh Foundation, which focuses on promotion of 21^st knowledge through quality education, practical entrepreneurship, healthy living and enhanced lifestyle has committed N1.5 billion to support YUBOSS- an entrepreneurship and wealth creation scheme set up by pioneer composite retailer chain Yudala supported by Access bank and Airtel.

Published in the Guardian Newspaper on Friday, October 21, 2016

#Partnership: Uber, First Bank to Finance Used Vehicle

A new pact between Uber Nigeria and First Bank aimed at paving the way for driver partners to grow their businesses through low interest used vehicle loans has emerged.

Published in the Guardian Newspaper on Friday, October 21, 2016

#Investment: Gionee to invest $12 Million in Nigeria, Launches S6s

GIONEE communication Equipment Company limited said it has invested over $10 million in the Nigerian market for branding its activities, of the sum, it invested $8million in 2016 alone, said Mr. Chen Lei, group chief executive officer of the company.

Published in the Guardian Newspaper on Friday, October 21, 2016

#StakeholderAction: DESUTH Medical Workers Resume Work

Striking medical workers at the Delta State University Teaching Hospital (DELSUTH), Oghara have suspended their strike. The suspension follows the intervention of the state governor, Dr. Ifeanyi Okowa and the subsequent payment of part of the allowances owed them.

Published in the Guardian Newspaper on Friday, October 21, 2016

#Empowerment: NADDC Trains 2000 Mechanics on Modern Engineering Skills

Plans are underway by the National Automotive Design and Development Council (NADDC) to train 2000 mechanics in modern engineering skills.

Published in the Guardian Newspaper on Friday, October 21, 2016

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”.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Power: Power Sector Yields $2.4b Investment Flow, Says World Bank

Decision by the government to implement a power sector reform has induced foreign direct investment worth over $2.4 billion, the World Bank said yesterday. Iof the investment, the World Bank alone accounted for $1 billion. More intervention is under way as the Bretton woods institution has placed Nigeria on its priority list on account of the reform.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Oil: NNPC to Resume Oil Exploration in Bauchi, Gombe

The Nigerian National Petroleum Corporation (NNPC) has concluded plans to move heavy equipment to Bauchi and Gombe States preparatory to oil exploration, said Group Managing Director Maikanti Baru.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Empowerment: CCHub, Dutch Ministry, Others to Groom Seven Nigerian Start-ups

Co-creation Hub (CCHub), Enviu, SOS Children’s Villages, 1% Club and the Dutch Ministry of Foreign Affairs will mentor and provide opportunities for seven business startups in the country. The collaboration, which is themed: “The Next Economy: How the African Youth Makes It Work”, is a three-month accelerator programme, targeted at providing mentorship and coaching for ventures that are just coming up.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Oil: Nigeria’s Crude Oil Production Rises by 280,700 bpd

Nigeria’s crude oil production has increased by 280,700 barrels per day (bpd) from 1.104 million bpd recorded in August to 1.385 million bpd in September. The Organisation of Petroleum Exporting  Countries (OPEC), which made this known in the monthly oil market report released on Wednesday without giving further details, said crude oil production averaged 33.39 mbpd in September, an increase of 0.22 mbpd over the previous month.

Published by the Guardian Newspaper on Friday, October 14, 2016

#StakeholdersAction: Govt Rallies Private Sector on Commitment to Self-Sufficiency Agenda

The Federal Government has enjoined the private sector to show greater commitment to the country self-sufficiency agenda in essential goods and services within the shortest possible time.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Empowerment: BoI, Kaduna train 375 Entrepreneurs Under KADSTEP Initiative

The Bank of Industry (BoI) and the Kaduna State government have trained 375 entrepreneurs under its second phase of the Kaduna Start UP Entrepreneurship Program.

Published by the Guardian Newspaper on Friday, October 14, 2016

#StakeholdersAction: DFI, States Collaborate to Tackle Unemployment, Recession

To bridge the unemployment gap in the country as well as address economic challenges, the Bank of Industry has partnered with various state government to provide needed financial capacity to boost operations of many enterprises.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Empowerment: NITDA Prepares 16 Startups for Technology Exhibition at GITEX

Sixteen Nigerian technology startups have been packaged by the National Information and Technology Development Association (NITDA) for this year’s Gulf Information and Technology Exhibition (GITEX) in Dubai, United Arab Emirates.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Event: Obasanjo to Lead Discussion on Food Security

Former President, Olusegun Obasanjo, GCFR, will on Tuesday, October 18 lead the panel of discussion at Lift Above Poverty Organisation (LAPO) 23rd yearly forum in Abuja.

Published by the Guardian Newspaper on Friday, October 14, 2016

#IndustryPulse: Unilever Reaffirms Commitment to Operations in Nigeria

In its resolve to sustain its investments in the country, Unilever Nigeria Plc has reiterated the company’s pledge to enhance local manufacturing in Nigeria. Speaking during a courtesy visit to the Special Adviser to the Governor of Lagos State on Oversea Affairs and Investment, Prof Ademola Abass; Chief  Supply Chain Officer, Unilever , Marc Engel, mentioned that the company, which has been operating in Nigeria for over nine decades, would continue to invest in the country, albeit the prevailing economic challenges.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Empowerment: Bank Chief Pledges Lenders’ Resolve to Promote Financial Literacy Among Youths

The Group Managing Director of Skye Bank Plc, Tokunbo Abiru has pledged Bankers’ Committee resolve to continuously improve the level of financial literacy among the youths.

Published by the Guardian Newspaper on Friday, October 14, 2016

#Empowerment: Firm to Support Social Entrepreneurs with $1m Global Contest

Whiskey Brand, Chivas Regal has sought entries for its 2016/2017 global contest as part of efforts to support social entrepreneurs in financial investment through ‘The Venture’ initiative.

Published by the Guardian Newspaper on Friday, October 14, 2016

#IndustryPulse: APEMAN Seeks Support for Indigenous Manufacturers

The Agricultural Products and Equipment Manufacturers in Nigeria (APEMAN) has advocated for government support for indigenous manufacturers to enable the country get out of its present economic challenges.

Published by the Guardian Newspaper on Friday, October 14, 2016

CSR NEWS SUMMARY ISSUE 156

B description#Oil: Oil Marketers Want Preferential FX Rate for Petrol Extended to Aviation Fuel

Despite the preferential foreign exchange rate given to oil marketing firms by the international oil companies (IOCs), aimed at sustaining the importation of petrol into the country, the Major Oil Marketers Association of Nigeria (MOMAN) has decried the non-allocation of the same preferential FX rate for the importation of aviation fuel.

Published by the This Day Newspaper on Monday, 3rd October, 2016

#Infrastructure: U.S. Invests $50m in Niger Drone Base for Counter-Terrorism

The United States is investing at least $50 million in a military air base in Nigeria’s northern neighbour, Niger Republic that will be capable of deploying drones. The U.S. already has a presence in the capital Niamey, where it shares an airbase with France’s anti-Islamist force, Operation Barkhane. MQ-9 Reaper drones are stationed there, according to the BBC.

Published by the This Day Newspaper on Monday, 3rd October, 2016

#Economy: Stakeholders List Public Hearing, Expenditure Tracking, Others as Solutions

Subjecting the budget process in the National Assembly to public hearings to provide for an all-encompassing multi-stakeholder involvement has been identified as one of the key solutions to reforming the country’s public finance and ensures equitable nationwide development.

Published by the This Day Newspaper on Monday, 3rd October, 2016

#StakeholdersAction: Again, NLC Warns FG, Says Nigeria is Not for Sale

The Nigerian Labour Congress (NLC) yesterday reiterated its position against the sale of national assets, warning the federal government that ‘Nigeria is not for sale.’ While stating the position of organised labour on the independence anniversary, NLC President, Ayuba Wabba argued that government should rather focus on strengthening the economy and ensuring a sustainable society than making attempt to place Nigeria on sale.

Published by the This Day Newspaper on Monday, 3rd October, 2016

#IndustryPulse: FG Calls for Lifting of Suspension on Nigeria’s Cocoa Exports to US Market

The federal government at the weekend officially made a case for the lifting of the suspension placed on Nigeria’s export of cocoa to the United States’ market. The Minister of Labour and Employment, Senator Chris Ngige, made the call during the Labour and Trade Ministerial Roundtable of the Africa Growth and Opportunity Act (AGOA) forum at the State Department, Washington D.C.

Published by the This Day Newspaper on Monday, 3rd October, 2016

#Health: British Scientists Discover Possible HIV Cure

A British man could become the first person in the world to be cured of HIV using a new therapy designed by a team of scientists from five United Kingdom universities. The unnamed 44-year-old is the first of 50 people to complete a trial of the ambitious treatment, designed by scientists and doctors from five of Britain’s leading universities.

Published by Punch Newspaper on Tuesday, 4th October, 2016

#Education: Foreign Varsities to Offer Easier Payment Plans

The Regional Manager Africa, United Kingdom Education Advisory Service, Bukky Awofisayo, has said that the recession and foreign exchange challenge being experienced in the country has propelled over 50 foreign universities to give prospective Nigerian students an easier payment plan and the possibility of fee reduction.

Published by Punch Newspaper on Tuesday, 4th October, 2016

#StakeholdersAction: World Bank Demands More Reforms from Nigeria

Plans by the Federal Government to borrow billions of dollars from the World Bank to plug its budget deficit have run into delays as the international lender is demanding for further reforms from the government as a condition for any loan. This came barely one month after the Presidency gave the Ministry of Finance its seal of approval to obtain the loan.

Published by Punch Newspaper on Tuesday, 4th October, 2016

#StakeholdersAction: Obi of Onitsha Backs Calls for Restructuring

The Obi of Onitsha and the Chairman of Anambra State Council of Traditional Rulers, Igwe Alfred Achebe, on Monday renewed the call for the restructuring of the country. He said Nigeria would be directionless without it being restructured. The monarch maintained that the prevailing challenges in the country had necessitated a review of the nation’s governance structure.

Published by Punch Newspaper on Tuesday, 4th October, 2016

#Economy: New Revenue Formula Lingers Three Years after Draft

Three years after the Revenue Mobilisation, Allocation and Fiscal Commission had completed work on a new revenue formula for the country and ratified the draft, the Federal Government has not implemented it. Investigation by our correspondent showed that the consequence of the Federal Government losing its fat allocation from the federation account could be responsible for the delay in completing the process for the implementation of the new revenue formula.

Published by Punch Newspaper on Tuesday, 4th October, 2016

#StakeholdersAction: Ambode Seeks Traders’ Opinion on Govt Policies

The Lagos State Governor, Mr. Akinwunmi Ambode, has concluded plans to visit markets around the state to interact with traders and obtain their views on his achievements. The governor, who spoke through his Special Adviser on Community and Communications, Mr. Kehinde Bamigbetan, said expectations of traders from his administration would also be gathered during the visit.

Published by Punch Newspaper on Tuesday, 4th October, 2016

#IndustryPulse: Bayelsa Schools Remain Shut Over Unpaid Salaries

Public primary and secondary schools in Bayelsa have yet to resume for the 2016/2017 session due to the failure of the state government to settle seven months’ salary arrears of teachers. The teachers had embarked on a strike at the end of the 2015/2016 long vacation, which ended in the first week of September.

Published by Punch Newspaper on Tuesday, 4th October, 2016

#IndustryPulse: NAF Destroys Illegal Refineries in Rivers

The Nigerian Air Force has destroyed illegal refineries and barges in the Niger Delta, its spokesman, Group Capt. Ayodele Famuyiwa, said in a statement in Abuja on Monday. Famuyiwa, who is the Director of Public Relations and Information of NAF, said,  “In its concerted efforts to stop illegal bunkering and criminal activities in the Niger Delta region, NAF today destroyed illegal oil refineries and barges filled with petroleum products.

Published by Punch Newspaper on Tuesday, 4th October, 2016

#Agric: Price of Maize Bows to Harvest in Nasarawa

Few months ago, the prices of grains like maize, reached a record high of N320 per measure and N16,000 per 100kg bag.   This raised a lot of concerns among poultry farmers who rely heavily on the product to produce their feeds and forced some farms to shut.  This month, many farmers who cultivated the grain are already in the market, forcing the price to drop from 300 to N100 per measure in Nasarawa State.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Agric: Lagos Moves to Develop Coconut Farming

 

The Lagos State Ministry of Agriculture has revealed plans to expand structure for coconut production and processing in the state through Public Private Partnership arrangement. The Special Adviser to the Governor on Food Security, Mr. Ganiyu Sanni Okanlawon, who made this known, expressed optimism that the collaboration between the state, the private sector and all stakeholders in the agriculture sector, would result in a win-win situation in such a way that food sufficiency and safety would be guaranteed.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Agric: Quelea Invasion Threatens 12 Adamawa LGAs

Adamawa has launched an emergency pest control programme after declaring threat of quela bird invasion across 12 council areas. Adamawa state governor Muhammadu Bindow launched the emergency programme to control migratory pests on Tuesday by aerial spray. The emergency control is planned for the entire country, but only some states have started it.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Agric: Anambra to Begin Exportation of Vegetables To U.S.

 

Governor Willie Obiano of Anambra State has disclosed plans by his government to commence exportation of vegetables to the United States of America soon.  Obiano, who made the disclosure while playing host to the executive members of the National Council of Women Societies, described the development as a milestone in view of the current naira to dollar exchange rate, adding that it is a sure way of coming out of the economic recession.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Agric: Chili Pepper Farmers Frustrated by Market

 

Chili pepper, though harsh in the mouth, could bring cool cash into farmers pocket as some graduate farmers in Alwaza town have found out.
That, however, depends on finding the right price and market for the produce. Otherwise, farmers can be left frustrated, as in the present situation.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Empowerment: AEA Partners SMEDAN on Training of Artisans

 

The MD/CEO of the Abuja Enterprise Agency (AEA), Malam Arabi Muhammed Tukur, has called for renewed partnership in the area of capacity building and training of artisans with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN). Malam Tukur made this known when his team paid a courtesy visit to the Director-General of SMEDAN, Dr Dikko Umar Radda.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Power: Benue Meets NERC over 10MW Power Plant

 

The Benue State government met with the leadership of the Nigerian Electricity Regulatory Commission (NERC) yesterday as it plans to build 10mw-embedded power plant. Governor Samuel Ortom who led the team of investors, Contec Global said the $18m project would be dedicated to industrial layouts in the state to grow economic activities.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Innovation: Glo Unveils 4G LTE Network

 

Globacom has fired up Nigeria’s first nationwide mobile 4G Long Term Evolution (LTE) network. Subscribers in parts of several cities across the country including Lagos, Port Harcourt, Abuja as well as Jos in Plateau State, Warri in Delta State, Eket in Akwa Ibom State, Benin City in Edo State, Yola in Adamawa State and Zaria in Kaduna State have the opportunity to connect to Glo 4G LTE network immediately.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#StakeholdersAction: Accountants Want FG to Redistribute Recovered Funds

 

The President of the Association of National Accountants of Nigeria (ANAN), Mr Anthony Nzom, has advised the Federal Government to ensure that the recovered looted funds are effectively redistributed to all sectors of the economy. Nzom stated this yesterday in Abuja in a welcome address at the opening of the 21st Annual Conference of Certified National Accountants

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Oil: Commercial Oil Production at Otakikpo Begins This Month

 

Lekoil is to commence commercial oil production this month from Otakipo marginal field, located in Oil Mining Lease (OML) 11 in Rivers State, following the completion of the Otakikpo-003 well. Following the successful re-entry of the Otakikpo-002 well, first oil from Otakikpo flowed to surface September last year.

Published by the Daily Trust Newspaper on Wednesday, 5th October, 2016

#Education: Lagos Records 50.41% Pass in 2016 WASSCE

The Lagos State Government has attributed the 50.14 per cent credit pass and above in five subjects and above including English language and mathematics recorded by the state’s public schools in the recently released results of the 2016 Senior Secondary School Certificate Examination conducted by WAEC to it huge investment in the education sector.

Published by the National Mirror Newspaper on Thursday, 6th October, 2016

#Empowerment: Sesema Grooms Young Graduates on PR, Digital Communication

As a way of investing in youths and grooming creative minds, an integrated marketing communications firm, Sesema PR, has held the maiden edition of its Corporate Communications Interactive Forum (CCIF) in Lagos. The one-day event brought together undergraduates and graduates who have an interest in the corporate communications sector of the economy to give them a practical introduction into the field.

Published by the National Mirror Newspaper on Thursday, 6th October, 2016

#Environment: Alumna Tasks UNILAG Mgt, Students on Waste to Wealth

A graduate of University of Lagos, Mrs Temitope Okunnu has triggered her alma mater on converting waste to wealth as she organised a special cleaning project for the lagoon front of the university through her pet project FABE in collaboration with the management and students of the institution.

Published by the National Mirror Newspaper on Thursday, 6th October, 2016

#IndustryPulse: NOUN Admits 442,000 Students in 6 Years

The National Open University of Nigeria (NOUN) has said there had been a massive increase of students’ enrolment into the institution within the last six years. The Dean, Faculty of Health Sciences of the university, Dr. Jane Agbu, made the disclosure during the 2nd international public health conference with the theme, “Trending Issues in Public Health Services Delivery,”

Published by the National Mirror Newspaper on Thursday, 6th October, 2016

#Economy: IMF Cautions On Global Financial Stability Risks

Against the backdrop of sustained depressive trends in developed and emerging economies over the past months, the International Monetary Fund (IMF) yesterday cautioned managers of global economies on the increasing risks to financial stability, describing it as medium term dangers.

Published by the National Mirror Newspaper on Thursday, 6th October, 2016

#Agric: Nigeria’s Livestock Market Value to Hit N2trn

Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has projected its current efforts to create a structured market for the livestock business in the country, through a bankable standard business model, have the potential of increasing the value of Nigeria’s livestock market to about N2 trillion yearly.

Published by the National Mirror Newspaper on Thursday, 6th October, 2016

Investment; Profit Taking Dips Market By 0.95%

The Nigerian Equities market continued on a downward trend as lead key indicator the Nigerian Stock Exchange All-Share Index (NSE ASI) depreciated 0.95 per cent to close at 28,009.40 basis points yesterday in comparison to 0.20 per cent lost in previous session.

Published by the National Mirror Newspaper on Thursday, 6th October, 2016

#Empowerment: FG Flags off 4-Day Training Programme For SSE

The Federal Government has flagged off a four-day entrepreneurial training programme for Small Scale Enterprises, SSE, as part of efforts towards tackling the economic recession in the country.

Published by the Vanguard Newspaper on Friday, 7th October, 2016

#Infrastructure: No Potable Water for 57m

Oxfam Head of Programme in Nigeria, Constant Tchona, yesterday, disclosed that over 57 million Nigerians lacked access to safe or clean water.

Published by the Vanguard Newspaper on Friday, 7th October, 2016

#StakeholdersAction: FG Warns Employers against Lowering Labour Standards

THE Federal Government has said that it was considering strategies to reflate the economy and place it on the path of sustainable growth and development and as such, will not tolerate the lowering of labour standards by employers in the country.

Published by the Vanguard Newspaper on Friday, 7th October, 2016

#StakeholdersAction: Prioritise Teachers’ Welfare, NANS Urges FG

As Nigeria, yesterday, joined the rest of the world to mark the 2016 International Teachers’ Day, the National Association of Nigerian Students (NANS) has felicitated with all the Teachers in Nigeria, even as it urged the Federal Government to prioritize teachers’ welfare.

Published by the Vanguard Newspaper on Friday, 7th October, 2016