CSR NEWS SUMMARY ISSUE 153

#StakeholdersAction: NECA Decries Challenging Environment, Calls on FG for Solution

The Nigeria Employers Consultative Association of Nigeria (NECA) has called on the federal government to put more efforts in finding a solution to current challenges being faced by companies operating in the country.

Published by This Day Newspaper on Monday, 5th September, 2016

#IndustryPulse: NANTA Declares State of Emergency in Aviation Sector

In order to save the air transport sector, which is described as a catalyst to economic development of any nation, the President of the National Association of Nigerian Travel Agencies (NANTA), Mr Bankole Bernard has urged authorities to declare a state of emergency in the aviation industry.

Published by This Day Newspaper on Monday, 5th September, 2016

#Partnership: Ericsson, Galaxy Backbone Set to Transform Public Services

Ericsson and Galaxy Backbone, the Government ICT shared services provider in Nigeria, has announced a partnership to design and deploy Information and Communications Technology (ICT) based solutions and services supporting the delivery of efficient public services in the country.

Published by This Day Newspaper on Monday, 5th September, 2016

#Innovation: Firm Launches e-Commerce Platform

As part of efforts to address what it described as a confined demand for online purchasing in Africa, a Lagos-based e-commerce company, Aniwura.com, launched a portal where business organisations and government entities can transact businesses for products and services.

Published by This Day Newspaper on Monday, 5th September, 2016

#Unemployment: Institute Pledges Support for FG to Tackle Unemployment

The Chartered Institute of Personnel Management (CIPM) has expressed its desire to assist the federal government in tackling the unemployment crisis facing the nation.

Published by This Day Newspaper on Monday, 5th September, 2016

#Partnership: Lagos Partners Sterling Bank, Others on Skill Acquisition

In line with its strategic focus on youth empowerment and skill acquisition, the Lagos State Ministry of Employment and Wealth Creation has announced its partnership with Sterling Bank, Audaux Solutions Limited, Microsoft, Etisalat and Andela for the 2016 Lagos Study Program.

Published by This Day Newspaper on Monday, 5th September, 2016

#IndustryPulse: Skye Bank Pledges Improved e-Banking Services to Customers

Skye Bank’s Executive Director, Technology and Services, Mr Innocent Ike, has said the bank’s electronic channels and e-banking services delivers exciting and hassle free banking experience for its customers and subscribers.

Published by This Day Newspaper on Monday, 5th September, 2016

#Economy #Infrastructure: SON Seeks Enhanced Quality Infrastructure to Drive Economic Diversification

The Standard Organization of Nigeria (SON) has emphasized the urgent need for an effective and well-implemented national quality infrastructure policy to help the country achieve its goal of a diversified economy.

Published by This Day Newspaper on Monday, 5th September, 2016

#IndustryPulse: Cash-strapped Banks Borrow N4.1trillion in Three Months

Cash-strapped Nigerian banks borrowed N4.1 trillion from the Central Bank of Nigeria (CBN) in three months, the peak of which was June, when the flexible foreign exchange policy was introduced.

Published by the Guardian Newspaper on Tuesday, 6th September, 2016

#IndustryPulse: CBN to Penalize Banks Frustrating N213 Billion Power Sector Financing

For banks participating in the N213 billion power sector financing the Central Bank of Nigeria (CBN) has warned that acts of sabotage would be followed by commensurate penalties. The CBN therefore listed 18 infractions, which it circulated yesterday to banks participating in the scheme.

Published by the Guardian Newspaper on Tuesday, 6th September, 2016

#IndustryPulse: NIMASA to Roll Out Automation Process Next Month

Barring any unforeseen circumstances, the Nigerian Maritime Administration and Safety Agency (NIMASA), will next month roll out its new automation process to enhance efficiency.

Published by the Guardian Newspaper on Tuesday, 6th September, 2016

#Economy: Government Loses N6m to non-Renewal of Licences by Firms

Federal Government is said to have lost about N6 million in the last four years to non-renewal of licences by courier operations rendering public services in the country.

Published by the Guardian Newspaper on Tuesday, 6th September, 2016

#StakeholdersAction: NECA Blames Recession on Inadequate Policies

The Nigeria Employer’s Consultative Association (NECA) has blamed Nigeria’s ongoing economic challenges on inadequate policy direction on the part of the present administration.

Published by the Guardian Newspaper on Tuesday, 6th September, 2016

#IndustryPulse: Maritime Workers Want Review of Import Policies to Boost Revenue

Maritime Workers Union of Nigeria (MWUN) has called on the Federal Government to review the import policies that have forced importers out of business, to generate more revenue for the country, following declining income from crude oil.

Published by the Guardian Newspaper on Tuesday, 6th September, 2016

#Economy: NIM Implores Government to Reflate the Economy

Worried by the nation’s present economic recession, the President and Chairman of the Nigerian Institute of Management Prof. Munzali Jubril, has urged the government to reflate the economy.

Published by the Guardian Newspaper on Tuesday, 6th September, 2016

#StakeholdersAction: PENGASSAN Threatens Strike over non-Implementation of Agreement

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has threatened to resume its suspended strike, if the Federal Government refused to enforce the implementation of an agreement reached among the tripartite partners in the industry.

Published by the Guardian Newspaper on Tuesday, 6th September, 2016

#Economy: Flexible Forex Policy Narrows Trade Deficit

Nigeria’s trade deficit narrowed in the second quarter following increased exports in June, a report has said. It was boosted by the Central Bank of Nigeria’s (CBN’s) unveiling of the flexible foreign exchange policy, National Bureau of Statistics (NBS) data have shown.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Empowerment: Lagos Trains 400 Youths

Lagos State Ministry of Youth and Social Development is training more than 400 youths on technical skills, it was learnt yesterday. The youth are sharpening their skills in satellite dish installation and sales representation.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Philanthropy: Foundation Lifts the Face of Oshodi with Free Health Services

A United Kingdom based non-Governmental Organisation (NGO) Oluwole Ben Eweoya Foundation (OBE) has provided a free health service for the people of Oshodi.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#IndustryPulse: Fed Govt Floats Visa-on-Arrival Policy for Businessmen

Vice President Yemi Osinbajo yesterday said the Federal Government has set 2017 target for the removal of obstacles in doing business in the country. He said the President Muhammadu Buhari-administration has given a mandate to the Enabling Business Committee to improve the nation’s rating of Ease of Doing Business before the end of next year. He also said the government will soon introduce visa-on-arrival policy that free up the process for investors and businessmen.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Environment: Oyo Dredges Water Channels

Oyo state has embarked on fresh dredging of water channels and rivers within flood prone areas in Ibadan metropolis to avert disaster. The latest action came on the heels of Monday’s six hours downpour, a situation which increased water levels in stream and rivers in Ibadan.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Investment: Nigeria’s Merchandise Trade Grows by 49% in Second Quarter

The National Bureau of Statistics (NBS) said yesterday that Nigeria’s total value of merchandise trade grew by 49 per cent in the second quarter of 2016. The NBS stated in “foreign Trade Statistics for Second Quarter, 2016” issued in Abuja that trade deficit had reduced with rising export value.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Power: Power Generation Dips to 3, 228MW

The 3,521.90 megawatts (MW) of electricity that was generated on Sunday, yesterday dipped to 3,228MW, resulting in 293MW drop in power produced by the generation companies.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Agric:  Agro Dealers Fault Govt’s N65b Fertiliser Debt Settlement Claim

Agro dealers have faulted claims that N65 billion have been released by the Federal Government to settle the debt owed fertiliser suppliers in the country.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#IndusryPulse: Telecoms Sector Q2 GDP Contributions Hit N1.58tr

In real terms, the telecoms sector contributed N1.58 trillion (N1,580 billion) to the Gross Domestic Product (GDP) in the second quarter of this year, or 9.8 percent, which represents an increase of 1.0 percent  points relative to the previous quarter, latest figures from the National Bureau of Statistics (NBS) have shown.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#IndustryPulse: Forex Scarcity, Others Cripple Aviation

First Nation Airways yesterday said its inability to access foreign exchange (forex) for the maintenance of its aircraft is one of the factors crippling airlines operations in the country.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Award: Stanbic IBTC Bank Wins Most Innovative SME Bank Award

Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, has been adjudged the Most Innovative SME Bank of the Year in Nigeria in 2016 by the Asian Banker Awards. The award was presented at the Asian Banker West Africa International Convention 2016, which held recently in Lagos.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Agric: Ebonyi Begin One-Man One-Hectare Agric Programme

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has kick-started the Governor David Umahi administration’s one-man, one hectare agricultural programme.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#StakeholdersAction: ASUP Seeks Skill Development, Technology Transfer

National Secretary of Academic Staff Union of Polytechnics (ASUP) Mr Anderson Ezeibe has urged the Muhammadu Buhari administration to grow the economy by focusing on skill development and technology transfer.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Health: Plateau Confirms Two with Lassa Fever

The Plateau State Government yesterday confirmed two of the ten-suspected Lassa fever cases. Commissioner for Health Dr Kunden Kanshak spoke at the monthly ministerial conference of the Ministry of Information, yesterday.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Health: WHO Vows to Reduce Malnutrition in North

The World Health Organisation (WHO) has promised to reduce malnutrition among children in the North.

Published by the Nation Newspaper on Wednesday, 7th September, 2016

#Infrastructure #StakeholdersAction: Ogun Lawmakers Decry Poor State of Lagos-Abeokuta Expressway

The Ogun State House of Assembly has expressed concern over the deplorable state of the old Lagos-Abeokuta Expressway especially the failed session at the Joju, Owode and Iyana-Ilogbo areas, which have subjected commuters to untold hardship.

Published by the Punch Newspaper on Thursday, 8th September, 2016

#Environment: Flood Submerges Five Anambra Communities

People in five Anambra communities have been reportedly trapped as flood submerged the areas. Economic and social activities in the areas had been paralysed as people’s movement had been hampered.

Published by the Punch Newspaper on Thursday, 8th September, 2016

#IndustryPulse: N330bn Fine Force MTN to Sell Bonds

MTN Group Limited is currently seeking fresh funds through the sale of bonds to offset a N330bn ($1bn) Nigerian fine, pay dividends and address capital expenditure.

Published by the Punch Newspaper on Thursday, 8th September, 2016

#Agric: No Poisonous Rice in Nigeria – FG

The National Biosafety Management Agency on Wednesday described as untrue claims that there was genetically modified rice in the Nigerian market. It said those making the insinuation that the country had been flooded with ‘poisonous’ rice were mischief makers.

Published by the Punch Newspaper on Thursday, 8th September, 2016

#Oil: Stakeholders Say Petrol to Remain N145 per Litre

Stakeholders in the Nigerian Petroleum Industry on Wednesday dismissed speculations on possible increase in the price of petrol. In a statement issued after the meeting, the stakeholders said the price range of N135 to N145 was still tenable despite changes in foreign exchange.

Published by the Punch Newspaper on Thursday, 8th September, 2016

#IndustryPulse: CBN to Borrow N952bn in Three Months

The Central Bank of Nigeria is planning to borrow the sum of N952.04bn ($3.02bn) with new issues of Treasury Bills from September 15 to December 1, 2016.

Published by the Punch Newspaper on Thursday, 8th September, 2016

#Oil: NDPR to Increase Refining Capacity to 11,000 bdp

Chemex Modular, LLC said it had reached terms in principle with the Niger Delta Petroleum Resources to expand NDPR’s existing refining capacity from 1,000 barrels of crude per day.

Published by the Punch Newspaper on Thursday, 8th September, 2016

#IndustryPulse: Puma Energy Delivers First Bitumen to Nigeria

Puma Energy, a global mid and downstream energy company, had announced delivery of its first cargo of bitumen to its terminal located in Calabar, Cross River State, under a joint venture with WABECO Petroleum  Ltd, registered as P.E. Bitumen Resources (Nigeria) Limited.

Published by the Punch Newspaper on Thursday, 8th September, 2016

#Economy: Focus on Opportunities Recession Offers, United States Charges Govt

The huge challenges notwithstanding, the Federal Government has been enjoined to take advantage of the opportunities offered by the prevailing economic recession. In another development, the presidency is to present 2017 budget estimates to the National Assembly next month.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#Power: Govt Bans Purchase of Transformers by Electricity consumers

The Federal Government has outlawed the procurement of transformers by electricity consumers, maintaining that it remains the duty of distribution companies. It also charged operators in the nation’s power sector to improve investments in order to upgrade their networks.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#Agric: Cassava Sector Targets N1.5tr Output by 2021

Stakeholders in the cassava sub-sector of the economy have unfolded a plan to grow the industry into $5 billion (about N1.5 trillion) 2021. The plan was unveiled during the National cassava Summit held yesterday in Abuja with the theme “Towards a $5 billion per Annum Industry over the next five years”.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#StakeholdersAction: UITH Boss Urges Doctors to Suspend Strike

Doctors have been challenged to suspend their strike and lead the way in the area of change in the nation’s health sector. The call was made by the Chief Medical Director of University of Ilorin Teaching Hospital (UITH) Ilorin, Professor Abdulwaheed Olatinwo.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#Investment: UNCTAD Urges Govts to Improve Liquidity in Stock Exchange

For stock exchanges to play an important role in promoting the reorientation of financial markets to support sustainable development goals, there is a need for governments to improve market’s liquidity, the United Nations Conference on Trade and Development (UNCTAD)-backed Sustainable Stock Exchange Initiative has said.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#ICT: NCC Spends N10b on Emergency Communication Centres

The Nigerian Communication Commission (NCC) has spent over N10 billion on the establishment of emergency communication centres in the 36 states of the federation.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#StakeholdersAction: Explorationist Tasks Govt on Proper Gas Pricing Mechanism

The Federal Government has been urged to set a standard for selling gas in the country to enhance power supply in the country, as the commodity price needs to reflect the real opportunity value of gas development.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#Economy: Ogun Earns N12b in Seven Months

In its determination to remain committed to the delivery of democratic dividends in spite of the current economic recession ravaging the nation, the Ogun state Internal Revenue Service said government’s initiatives led to increased revenue, as the as the agency has generated over N12billion in the last seven months into government’s coffers,

Published by the Guardian Newspaper on Friday, 9th September, 2016

#StakeholdersAction: NCRIB tasks Members on Professional Integrity

The Nigerian Council of Registered insurance Brokers (NCRIB) has urged its members to hold on to the tenets of their profession despite the current economic recession.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#Partnership: CBN Urges States to Partner BoI on Small Businesses

The central Bank of Nigeria (CBN) has urged the state governments to utilise facilities offered by the Bank of Industry (BoI) for the growth of small businesses in their domain. This, the apex bank said will speed up industrialisation and economic growth of the country.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#IndustryPulse: NCC to License 5 More Infrastructure Companies

Nigerian Communications Commission (NCC) has said it would soon commence the second phases of the licensing of five more Infrastructure Companies (InfraCos) in the country, to bridge existing broadband gap.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#Event #Technology: Innovation, Creativity on Display at IBM ‘CogniHack Lagos 2016’

The abundance and quality of talent in the country’s local technology space was showcased recently to the friendly geeks at IBM. Showcasing its ongoing investment in the local technology space, IBM chose Africa’s most populous city to convene.

Published by the Guardian Newspaper on Friday, 9th September, 2016

#StakeholdersAction: Travel Agencies Urge FG to Declare State of Emergency

Worried about the recent development in the aviation sector, travel agencies in the country have urged the Federal Government (FG) to save the sector by declaring a state of emergency.

Published by the Guardian Newspaper on Friday, 9th September, 2016

CSR NEWS SUMMARY ISSUE 152

#Economy: FX Reform Brings in $270m, First Major Foreign Investment

The Central Bank of Nigeria (CBN) strategy to boost supply in the country’s FX market through its monetary policies is yielding fruit as the nation received $270 million worth of foreign portfolio investment from a single transaction last week.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#IndustryPulse: Manufacturers see Local Auto Assembly Contributing $5bn Yearly to Economy

With Nigeria’s economy still struggling to improve, Original Equipment Manufacturers (OEMs) estimate that investments into the local assembly of vehicles and development of spare parts clusters the country, if pursued vigorously, are capable of contributing  about $5 billion into Nigeria’s economy.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Agric: Govt Resolves to Push Ahead with GMO Foods in Nigeria

The scepticism of many Nigerians and outright rejection by others over the future Genetically Modified organism (GMO) based food commodities in the market is doing little to dissuade the government as it appears resolved to forge ahead with promotion of genetic engineering  to address concerns over food security and productivity.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#IndustryPulse: Amid Economic Turbulence, Shining Spot Industries Make Export Progress

Amid economic recession that has hit Nigeria, shining spot industries are making significant progress in export business, repatriating foreign exchange into a country going through its worst FX scarcity.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#IndustryPulse: N250 Billion Nigerian Fast Food Industry Hit by Harsh Economy

Rising inflation at 16.4 percent and weakening purchasing power resulting in reduced customer spend have combined to put a strain on the Nigerian fast food industry valued at over N250billion. Consequently, the heavy traffic that has resulted in a greater patronage to the industry, which employs about 500,000 people, has dwindled significantly in the last one year, forcing some of the operators to trim operations, says a source close to the business.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#IndustryPulse: Africa Re Moves to Deepen Insurance Penetration in Nigeria

Africa Re has embarked in awareness creation campaign targeted at deepening insurance penetration in Africa’s second largest economy, Nigeria. Nigeria with a population of 180 million people and fast growing middle class has an insurance penetration in terms of contribution to GDP of a paltry 0.3 percent according to reports from the local insurance market.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#ICT: Nigeria is at 13% Broadband Penetration – NCC

The Nigeria Communication Commission (NCC) this weekend said that presently, broadband penetration in the country was at 13 percent. Prof. Umar Danbatta, the Executive Vice Chairman of NCC made this known during ‘The 2016 Nigeria ICT Impact CEO Forum and Awards’ Africa Digital Awards (ADA)’, organised by ICT Watch Network in Lagos.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Investment: FX Translation and Fair Value Gain Spur UBA to growth

Foreign exchange translations and fair value gains stoked by the devaluation of the currency by the central bank has spurred United Bank of Africa (UBA) plc to growth as the lender continues to navigate the storm caused by economic downturn.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#StakeholdersAction: CBN, IFC Commend CBAN for Improving Access to Credit

The Central Bank of Nigeria (CBN) and International Finance Corporation (IFC) has commended Credit Bureau Association of Nigeria (CBAN) for their contribution towards improving access to finance in Nigeria.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Event: World Pensions Summit ‘Africa Special’ Programme Focuses on Sustainable Pension System

Programme for the third World Pension Summit ‘Africa Special’ seen by Business Day indiocates that the attention of global experts and pension professionals attending the event scheduled for September 27 and 28 in  Abuja, would focus on developing and structuring a sustainable pension system for Africa.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Empowerment #Entrepreneur: SPAR Spur Young People on Entrepreneurship in Calabar

In line with its commitment to foster and sustain good neighbourliness with its host communities thereby contributing to their growth and development, SPAR Hypermarket in partnership with the organizers of Funfizz 2016, reached out to hundreds of young people in Calabar who thronged the Calabar Mall venue of the event.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Health: FCTA Sets Up Polio Eradication Task Force Team

In order to maintain the zero level of poliomyelitis in Abuja, the Federal Capital Territory (FCT) administration has approve the reactivation of the FCT task force on polio eradication and routine immunisation.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Investment: Offshore Investors Reduce Nigerian Equities Deals by Over N380bn

As shown in the July 2016 equity trading by locals and foreigners, the offshore investors reduced their transaction in Nigerian equities by N383 billion compared to same period in 2105.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#StakeholdersAction: NASD Sees Appropriate Fiscal, Monetary Policies Stimulating Growth inn Key Sectors

The NASD OTC Securities Exchange believes that a combination of the                                                                                                                                                   appropriate fiscal and monetary policies will stimulate growth in key sectors of the economy.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Agriculture: Chinese Firm to Establish Multi-Million Dollar Feed Mill, Maize Farm

As part of efforts to diversify the economy from over-dependence on oil and gas, a Chinese firm, Wuhan Longfecund Agricultural Development Company Ltd, has indicated interest to set up a feed mill and maize farm in Cross River State.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Empowerment: SMEs Granted N2bn Interest-Free Loan in A/Ibom

Small and Medium Scale Enterprises (SMEs) have been granted loan facility worth N2 billion to expand their business and boost income generating activities in Akwa Ibom State.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#StakeholdersAction: Edo Government Tasks Investors on production of Standard Goods

Kerry Emokpaire Prince, Edo State Commissioner for Commerce and Industry, has tasked the management of Yongxing Steel Company limited on quality products in line with the international best practices.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#IndustryPulse: Sugar Investors Need Stability Security to Close 1.4MMT Gap

Attracting more sugar investors to plug over 1.4 million metric tonnes (MMT) gap requires macroeconomic stability, improved security and better land tenure system, according to manufacturers and analysts.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Business: Nigeria to Move Up 20 Places in Ease of Doing Business ranking within 3 Years

President Muhammadu Buhari on Sunday said the government was committed to ensuring that Nigeria moved up 20 places to be among the top 100 in the ranking of the World Bank’s ease of doing business in 2019. Nigeria will be one of the most attractive and easiest places of doing business in the world by 2019, President Muhammadu Buhari said on Sunday.

Published by Business Day Newspaper on Monday, 29^th August, 2016

#Economy: External Reserves Rise by $595m in Five Days

The nation’s foreign exchange reserves have increased by $595m to hit a one-month high of $26.196bn the latest data from the Central Bank of Nigeria have shown.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#Economy: FG to Save N48bn through Electronic Procurement

The Federal Government is targeting a total financial savings of N48.3bn through the implementation of the electronic procurement process in six pilot ministries. They are the ministries of Education, Health, Transportation, Water Resources, Agriculture and Rural Development and Power, Works and Housing.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#IndustryPulse: Telecoms Operators Spend N638bn on Bandwidth Importation

Digital mobile operators and telecommunications service providers spend about $2bn (about N638bn) annually on the importation of bandwidth and other related services, the National Space Research and Development Agency has said.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#Infrastructure: Chinese Firm Wins $1.85bn Kano Light Rail Contract

Another light rail project is in the offing as a Chinese firm has received the approval to construct the line in Kano at a sum of $1.85bn (N589.8bn). An online report by The Cable on Monday gave the construction firm as the China Railway Construction Corporation.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#StakeholdersAction: Provide Warranty for Products, CPC tells Dealers, Manufacturers

The Customer Protection Council has urged Nigerian manufacturers and product marketers to always provide warranty on their products. The council gave this charge during a stakeholders’ meeting on enforcement of warranties and guarantees on products.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#Investment: Forex Market Trades $327m, foreign investors Buy Bonds

The nation’s foreign exchange market recorded $327m worth of transactions on Monday; about six times more than its usual volume, the FMDQ OTC Securities Exchange, told Reuters. This included a single transaction of $270m at N345/dollar by foreign investors buying local currency bonds, the Managing Director, FMDQ OTC Securities Exchange, Mr. Bola Onadele, said in an interview.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#Innovation: Skye Bank Begins Initiative, Targets High-End Customers

Skye Bank Plc has unveiled a new investment window for its high-end customers. Tagged ‘Skye Select Summer Campaign’, the initiative is targeted at the upper-middle level managers and professionals who earn a monthly income of N750,000 and above and travel regularly.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#CSR: Governors Lauds Sterling Bank’s CSR Initiative

The Governors of Plateau, Bauchi and Gombe states, Simon Lalong, Mohammed Abubakar and Ibrahim Dakwambo respectively has commended Sterling Bank Plc for its role in checkmating desertification experienced in some northern parts of the country through its tree-planting initiative.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#StakeholdersAction: Stakeholders Urge Government to Explore Digital Innovation

Stakeholders in the information and Communications Technology industry have urged the government at various levels to explore the inherent opportunities in digital innovation, saying citizens’ day-to-day activities have gone online.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#Technology: Opera, Google Collaborate on Progressive Web App

Norway-based technology company, Opera, has collaborated with Google to ensure that mobile users, including Nigerians, easily access and use its Progressive Web Apps.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#MoU: Ericsson, Galaxy Sign MoU on Public Sector Reforms

Galaxy Backbone, the Information and Communication Technology-shared services provider for the Federal Government, on Monday sealed an agreement with Ericsson to design and deploy ICT-based solutions and services towards achieving an efficient public sector in the country.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#Empowerment: NITDA to Establish ICT Centres for Corps Members

The National Information Technology Development Agency had pledged to deploy Information and Communications Technology centres for corps members in the 36 states of the federation before the year runs out.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#ICT: Another Nigerian Company Rolls Out 4G-LTE Service

Another telecommunications firm in the country, InterC Network, has rolled out the 4G Long-Term Evolution service. The first to do so was ntel, the company that bought off Nigeria Telecommunications Company.

Published by the Punch Newspaper on Tuesday, 30th August, 2016

#IndustryPulse: N2.2tr Oil Loans Upset Banks

Nigerian banks have become very stringent in funding oil and gas projects owing to a doubtful balance sheet position and inability of the firs to service previous loans worth more than N2.2trillion.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#IndustryPulse: Cement Price Rises by 44 Percent, Hits N2,300 Per Bag

Dreams of lower construction costs by prospective homeowners might have become a nightmare, going by fresh increase in the price of cement products by manufacturers. The development has already triggered a ripple effect in the open market, with prices going up by about 44 per cent in few days.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Technology: Govt Plans Technology Super Hubs in Abuja, Lagos, others

Government will partner high profile companies, including Google, to facilitate establishment of two technology super hubs in Abuja, Lagos and the six geopolitical zones of the country.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#IndustryPulse: CBN Approves 11 More Money Transfer Operators

On its search for scarce foreign exchange and elimination of illegal funds transfer, the Central Bank of Nigeria (CBN) yesterday approved 11 International Money Transfer Operators (IMTOs), bringing the number to 14.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Health: Delta Quarantines 55 over Lassa fever Death

Fifty-five persons are currently under watch in Asaba, the Delta State capital, for coming in contact with the medical doctor who died recently of Lassa fever in neighbouring Anambra State. The initial figure was 32.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Environment: Nigeria to Witness Resurgence of Low carbon Projects Soon

A development economist and consultant to the National Assembly on Climate Change, Dr Chidi Onuoha says Nigeria will soon witness resurgence of projects that will promote low carbon economy when it domesticates the Paris Climate Change Agreement.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Event: HWPL set to Host Peace Summit in Seoul

From September 17 to 19, former President of Croatia, Ivo Josipovi; the Minister of Justice of Sri Lanka, Wijeyadasa Rajapakshe and President of the Spanish Society for International Human rights Law, Carlos Villan Duran, will join Man Hee Lee, chairman of Heavenly Culture, World Peace, Restoration of Light in a conversation on peace.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Empowerment: 41,000 Graduates Benefit Govt’s Internship Programme

About 41,461 graduates have benefitted from the Graduate Internship Scheme (GIS) of the Federal Government since its inception in 2012. Making the disclosure during the three-day Graduate Internship Scheme Orientation and Employability held in Lagos on Monday, Project Director, Mr Dennis Chukwu, said the programme presents an opportunity for graduates interns to acquire working experience, enable them gain employment in organisations where they worked and earn a N30,000 monthly stipend.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Oil: PIB Delay, low Oil Prices Impede Nigeria’s 1.124m bpd Projects

Planned projects in Nigeria, which are expected to add about 1.124 million barrels per day to the country’s crude oil prices and the delay in th passage of the Petroleum Industry Bill (PIB).

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Energy #StakeholdersAction: SON, Oher Seek Compliance to Energy-Efficient Standards

The Standard Organization of Nigeria (SON) has commenced plans to ensure that Nigerians complied with minimum standards on the kind of electrical equipment used in the country, as part of measures to efficiently maximise energy consumption.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#MSMEs: Firm Begins Virtual Accounting Services for SMEs in Nigeria

A new accounting firm- Pundit Bookkeeping Services has said it is in business to offer specialised services for Small and Medium Enterprises (SMEs) in the country, as part of efforts to help them overcome challenges related to poor bookkeeping.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Empowerment: Heritage Bank Moves to Boost Youth Entrepreneurship

As part of effort to reduce the number of Nigerian youths in the labour market, put at 36.3 million, representing 48 percent of the entire labour force, Heritage Bank Plc has reiterated plans to provide timely and affordable credit to assist youths in implementing their business ideas.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#IndustryPulse: Capacity Utilisation Drops to 20% in Drug Manufacturing Sector

Albeit Federal Government’s intervention in terms of improved access of manufacturing firms to foreign exchange, the pharmaceutical manufacturing sector has decried a drop in capacity utilisation to an all-time low of 20 p[er cent, even as many firms shut down operations.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#IndustryPulse: High Cost of Gas Lowers Production by 70 Per Cent, Say Manufacturers

Production in construction and building industry has been lowered to an all-time low of 70 per cent because of the high cost of gas. Besides, the policy of government to charge local gas supply in dollars may have triggered a 25 per cent increase on locally produced building materials, thereby stifling their competitive advantage over imported ones.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#ICT #StakeholdersAction: BCX Calls for Accelerated ICT Growth

For Nigeria to come out of the current economic challenges, adoption of modern technologies has been described as critical to enable new forms of growth.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Awards: Weco Systems Wins Architectural Excellence Award

Weco Systems has emerged as the recipient of Cisco’s Architectural Excellence award in Enterprise Networks for Africa at the 2016 Partner Summit Conference in San Diego, California.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Event: Africa Oil Week, Upstream Confab Holds in Cape Town

Global Pacific &Partners, with ITE Group, will host the 23rd Africa Oil Week/Africa Upstream 2016 Conference over 31st October – 4th November 2016, at the Cape Town International Convention Centre, South Africa.

Published by the Guardian Newspaper on Wednesday, 31st August 2016

#Economy: Economy in Recession

Nigeria’s economy has sunk into recession as the nation’s Gross domestic Product (GDP) dropped to a record low of 2.06 percent into the second quarter of 2016.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Economy: FEC Approves 3-year External Borrowing Plan

The Federal Executive Council (FEC) met yesterday and approved a three-year external borrowing plan that would run from 2016 to 2018. Addressing the State House reporters after the FEC meeting chaired by President Muhammadu Buhari, Finance Minister Kemi Adeosun said the plan would be transmitted to the National Assembly for approval.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Economy: Economy will Beat IMF Prediction –Presidency

The Presidency yesterday said the Nigerian economy will beat the International Monetary Fund’s prediction. The Special Adviser to the President on Economic Matters, Dr Adeyemi Dipeolu, said this in a statement, even as he admitted that the rate of inflation and unemployment in the country remains “stubbornly” high.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Economy: Passage of CBN, NNPC Budgets’ll Boost Economy

The Presidency yesterday said that the passage of the budgets of the Central Bank of Nigeria (CBN), Nigeria National Petroleum Corporation (NNPC) and 36 other agencies would boost the country’s economy.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#IndustryPulse: FG Unveils New Road Map for Mining

The Federal Executive Council (FEC) yesterday approved a new road map for the growth and development of the nation’s mining industry. The Minister of Solid Minerals, Kayode Fayemi, told the journalists after the FEC meeting that the road map sought to increase contribution of the sector to the Gross Domestic Product in line with President Muhammadu Buhari’s vision to diversify the economy.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Environment: Flood – Kaduna to Construct N675m refuse dumps

Kaduna State Government has approved the construction of three new standard refuse dump sites, one in each of the three senatorial districts and 10 transfer stations at the cost of N675million to control flood in the state.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Infrastructure: FG Builds N1.9bn Library for Unilag

The Federal Executive Council (FEC) yesterday approved a contract for the reconstruction of a new library at the University of Lagos for N1.935billion. Education Minister Adamu Adamu said after the FEC meeting that the library built for the institution in 1964 had neither been expanded nor modernised.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#MoU: Nigeria, UK Sign Repatriation Pact

The Federal Government has signed a Memorandum of Understanding with the United Kingdom on proper repatriation and proper profiling of Nigerians from the UK through the use of biometric and biographic data.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#IndustryPulse: CBN Lifts FOREX Ban on 9 Banks as Naira Hits 423 a Dollar

The Central Bank of Nigeria (CBN) has lifted the Foreign Exchange (FOREX) ban placed on nine banks over the breach in remittances to the Treasury Singles Account (TSA).

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Agric: Rice Harvest Begins in Katsina State

Rice farmers have started smiling to the bank, as early harvest of the produce begins in Katsina State, Daily Trust reports. It was gathered that in line with the federal government’s agricultural policy, many farmers in the state, this farming season, concentrated in the cultivation of rice and maize to exploit the opportunities therein as promised by the government.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Agric #Environment: As Flood Forces Anambra Farmers into Premature Harvests

Farmers in the flood-prone areas in Anambra state are already counting their loss following the premature harvesting of their crops over the impending flood predicted in the area.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Agric: Fear of Insurgents Still Affecting Fish Business in Borno

The tasty dried fish from Borno state popularly known as the ‘Baga dried fish’ that disappeared from the market about three years ago, following the Boko Haram insurgency in the state has started appearing in the famous Baga road fish market in Maiduguri, the state capital, though not enough to revive the business.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Empowerment: 12 Rural Women Empowered for Cocoyam Production in Imo

The ‘Offthehook Foundation For Rural Dwellers’, a non-governmental organisation in Imo state has empowered twelve rural women for the production of cocoyam.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Empowerment: FG/IFAD Financial Inclusion Project Targets Poor Farmers

The Federal Government and the International Fund for Agricultural Development (IFAD) have been assessing the impact of their six-year Rural Financial Institution Building (RUFIN) programme on the financially excluded rural farmers across 12 pilot states.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Education: Osun Builds School of 72 Classrooms, 36 Toilets

The Osun state Government has built a public secondary school in the state capital, Osogbo, with 72 classrooms of 40 square metres to sit 49 students each, six offices, six laboratories, 18 toilets for girls and another 18 for boys, library, a bookshop and a sick bay.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Education: Chinese to be Taught in Schools

The Initiative of African Friends of China has urged the Federal Government to approve the teaching of Chinese language in secondary schools across the country. The group’s president, Fred Ogwazu, made the call while signing a Memorandum of Understanding (MoU) with DBS Media Ltd, a Nigerian creative media content agency in Lagos.

Published by the Daily Trust Newspaper on Thursday, 1st September, 2016

#Power: Nigerians Spend N3.5tr Generating Their Own Electricity Yearly

Due to irregular supply of public electricity, about ($2.19billion) is spent yearly by businesses, families and others in Nigeria to buy fuel for power generation.

Published by the Guardian Newspaper on Friday, 2nd September, 2016

#SDGs: Food Scarcity Threatens 35 million Nigerians

Eleven frontline states in northern Nigeria are threatened with food scarcity due to extreme weather conditions. Between 50 and 75 per cent of land in Bauchi, Borno, Gombe, Kano, Jigawa, Katsina, Kebbi, Sokoto, Zamfara and Yobe states are under threat of desertification due to global warming.

Published by the Guardian Newspaper on Friday, 2nd September, 2016

#StakeholdersAction: OPS Seeks Holistic Approach to Tackle Infrastructure Deficit in Nigeria

Stakeholders in the Organised Private sector (OPS) have stressed the need for the government to adopt a holistic approach in addressing the huge infrastructure deficit, as well as identifying critical sectors that would drive the nation’s diversified base.

Published by the Guardian Newspaper on Friday, 2nd September, 2016

#IndustryPulse: August Manufacturing PMI Declines to 42.1 Percent, says CBN

The Central Bank of Nigeria (CBN) yesterday reported that activities in the manufacturing sector in the Nigerian economy shed weight by 2 per cent compared with the volume of July.

Published by the Guardian Newspaper on Friday, 2nd September, 2016

#Economy: Collateral Registry Will Bridge $62 Finance Gap, Boost Production

Central Bank of Nigeria (CBN) has said the National Collateral Registry, which it recently developed with the support of the International Finance Corporation (IFC), to allow low-income earners and small-scale entrepreneurs to secure loans against movable assets, will not only increase local production but will help in reducing unemployment.

Published by the Guardian Newspaper on Friday, 2nd September, 2016

#StakeholdersAction: NLC Threatens Strike If Govt Increases Fuel Prices

The organised labor has threatened to call out its members for a strike should the federal government increase pump prices pf petroleum products.

Published by the Guardian Newspaper on Friday, 2nd September, 2016

#Partnership: ITF and UNIDO Partner to Bridge Skill Gap

Worried about the high rate of unemployment in the country, the Industrial Training Fund (ITF) has announced plans to bridge skills gap shortages to reduce the figure in the country.

Published by the Guardian Newspaper on Friday, 2nd September, 2016

#Power: Power Firms Appoint Ogaji as Executive Director

The Association of Power Generation Companies (APGC) has announced the appointment of Dr Joy Ogaji as its pioneer executive secretary. APGC is a non-profit and non-political organisation formed to provide a platform to discuss issues of common interest relevant to the Nigerian electricity generation industry, and proffer sustainable solutions to sector challenges in the best interest of all stakeholders.

Published by the Guardian Newspaper on Friday, 2nd September, 2016

#Environment: Africa Forest Elephant May Take Almost A Century to Recover from Poaching

Africa’s rare forest elephant which play a key role in replenishing the central African rain forests will neeed almost a century to recover from an onslaught by ivory poachers because of their slow birth rate, a study published on Wednesday said.

Published by the Guardian Newspaper on Friday, 2nd September, 2016