Economy

20 People Benefit from NDE Skills Acquisition

By Web News 440

By Omolara Adasofunjo

Twenty people, classified as unskilled and unemployed women and youths from different parts of Ogun State have been offered the opportunity to become gainfully employed by the National Directorate of Employment, NDE, under its Vocational Skills Development initiative.

Director-General of the NDE, Mallam Abubakar Fikpo while flagging off the training and orientation programme for the beneficiaries in Abeokuta said the women and youths would be trained for 3 months to enhance their productivity and enable them to contribute to nation-building.

Represented by the Ogun State Coordinator of the Agency, Mrs kehinde Osinowo, the Director-General of the NDE said the trainees would acquire skills in computer appreciation and catering services free of charge through the Basic National Open Apprenticeship Scheme.

Mallam Fikpo encouraged the beneficiaries to be focused and committed, restating that President Bola Tinubu’s administration had been deliberate in promoting and ensuring support for all interventions aimed at empowering the youths and creating job opportunities.

Similarly, the Head, of the Department of Vocational Skills Development, VSD, Hajiya Amina-Lewa Shettima who spoke through Mr. Igwesi Onyekwelu urged the participants to regard the skills acquisition training as a major tool for poverty eradication and self-reliance.

Earlier, the Head of VSD in Ogun State, Mr. Owodunni Samuel had explained that different categories of residents, including unskilled men and women, like primary or secondary school leavers, school dropouts, retirees, and vulnerable persons as well as graduates of tertiary institutions were being helped to acquire marketable skills through the training scheme.

Speaking on behalf of other beneficiaries, Temiloluwa Gbeletan expressed confidence that their exposure to the free vocational training would raise their standard of living and empower them to become employers of labour.

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Economy

We will work together to give workers the best – Akpabio

By Web News 457

The Senate President, Godswill Akpabio, has assured Nigerian workers that the National Assembly and the executive arm of government would work collaboratively to give them a living wage and better working conditions.

The Senate President declared that “No Nigerian worker will again be allowed to work under inhuman conditions. We will do everything to give you the best because you deserve the best.”

He made the declaration in a statement on Wednesday by his Special Adviser on Media and Publicity, Eseme Eyiboh, to congratulate the workers as they commemorate the 2024 May Day.

Akpabio, in the message, extolled the sterling qualities that stood out in the Nigerian workers, saying “A Nigerian worker is noted for his patriotism, hard work, resilience, and dedication to duty.

“I am happy to be associated with the Nigerian workers in the last more than 25 years and I can attest to the fact that everywhere you go, the Nigerian worker’s spirit resonates profoundly.”

Speaking on this year’s theme for Workers’ Day, “Ensuring safety and health at work in a changing climate,” Akpabio promised that the National Assembly under his leadership was more than committed to ensuring the best working conditions for the Nigerian workers.

The Senate President reiterated that the theme for this year’s celebration was apt and in tune with the international best practices, assuring that Nigeria would not be left behind.

Punch/Oluwayemisi Owonikoko

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Economy

Dangote Groups Restates Commitment to Sustainability of Nigerian Economy

By Web News 654

By Oluwatoyin Adegoke

Management of the Dangote Groups say it will continue to play critical roles in adding value to the people , while supporting the sustainability and development of the Nigerian economy.

The Regional Sales Director, Dangote cement PLC Lagos and Ogun, Mr Tunde Mabogunje stated this at the company’s  special day in the ongoing 13th Gateway international trade fair in Abeokuta, the Ogun State capital.

Mr Mabogunje affirmed that Dangote Industries had continued to blaze the trail as the nation’s foremost indigenous Pan-African conglomerate, with diversified investments, such as cement, sugar, salt, real estate, agriculture, telecommunication, and oil and gas among others.

The Regional Sales Director maintained that the theme of this year’s Gateway International Trade Fair, “Achieving Economic Prosperity Through Business Connection, Trade And Investment,” was in tandem with the Dangote industries focus on manufacturing of goods rather than importation, thereby ensuring the availability of raw materials for such products in Nigeria.

Mr Mabogunje reiterated the Company’s commitment to providing more quality and affordable goods for the benefit of the people, in furtherance to creating more job opportunities for teeming youths.

He added that the recently launched Dangote petroleum refinery was a game changer in offering cheaper fuel to Nigerians and expressed optimism that the trade fair would create a linkage that would help to connect different aspects of the economy while at the same time promoting backwards integration.

Earlier in a remark, the President, Ogun state Chamber of Commerce, Industries, Mines and Agriculture, OGUNCCIMA, Mr Mike Akingbade had expressed appreciation to Dangote group for the strong support towards ensuring the development of the state’s economy as well as the growth of the chamber.

Mr Akingbade also applauded the contribution Dangote Group in providing job opportunities for the youths and  sustaining global standard in the efforts to drive the nation’s economy.

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Economy

Blue Economy: Expert Advances Importance of Infrastructure Upgrade

By Web News 325

By Segun Folarin

A stakeholder’s relations expert has emphasized the need for all levels of government to attach more importance to upgrading the country’s infrastructure in the bid to promote the blue economy.

The expert who is Head, Media Relations Management of the Nigerian Communications Commission, NCC, Dr Omoniyi Ibietan made the call while presenting a paper at the ongoing National Public Relations Week in Abeokuta, Ogun State.

Dr Ibietan, who expressed displeasure over the deplorable condition of the link roads to the Professor Wole Soyinka train station in Abeokuta, said the harrowing experience of those accessing the station would continue to erode the laudable impacts of the Lagos – Ibadan rail project. 

Participants in the third day sessions of the Nigerian Public Relations Week, including the Director – General, Federal Radio Corporation of Nigeria, FRCN, Dr Mohammed Bulama interacted with experts on different aspects of Public Relations, like the Artificial Intelligence, Branding and Data – Driven PR. 

In a paper entitled “Sailing on The Blue Economy: Perspectives For Strategic Communications”, the Head, Media Relations Management, Nigerian Communications Commission, Dr Omoniyi Ibietan said infrastructure remained a key factor in attracting the right investments to drive the blue economy. 

He urged the Ogun State Governor, Prince Dapo Abiodun to liase with the relevant organs of the Federal Government to make the Professor Wole Soyinka rail station in Abeokuta easily accessible to the large number of people who regarded road transportation as a comfortable means of transportation. 

Dr Ibietan also recommended the inclusion of information and media literacy in the nation’s primary school curriculum with a view to educating the citizens and spreading the knowledge across to reach the audience not covered by digital communication. 

Speaking on “Artificial Intelligence and Future of Public Relations” a digital strategist, Mr Celestine Achi stressed the need for the media industry to embrace the technology for enhanced productivity.

Mr Achi expressed optimism that the adoption of the digital technology would help to reposition the business of public relations in line with global trends as well as helping to fight the menace of fake news and misinformation. 

In a Contribution, a former Commissioner for Information, Youth, Sports, Community Development, Culture and Social Welfare in Ogun State, Dr. Fassy Yusuf, said strategic use of public relations would go a long way in helping to analyze national challenges, like insecurity and proferring solutions to the problems.

The National President of the NIPR, Dr Ike Neliaku who acknowledged the support of elders and veterans in the industry enjoined the members to renew their determination towards boosting the capacity of the institute to make better impacts on the nation.

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Economy

Ogun Agro-Cargo International Airport Set for Operations

By Web News 425

By Abimbola Bamgbose

Ogun State Governor, Dapo Abiodun, says the state’s Agro-Cargo International Airport would commence scheduled and non-scheduled flights in the next few weeks.

The governor made the disclosure while speaking at the 13th Gateway International Trade Fair breakfast meeting with chief executive officers, captains of industry, entrepreneurs, investors and stakeholders alike, in Abeokuta.

Abiodun noted that the approval process to get the airport running has reached an advanced stage, with the approval expected in few days’ time.

According to him, the airport is located in a Special Agro Processing Zone, adding that President Bola Tinubu has approved the Special Agro Processing Zone as a Free Trade Zone.

Abiodun also informed that his administration would soon be flagging off the Kajola Inland Container Terminal, noting that when fully operational, the terminal would allow investors situated within the state an opportunity to pick up their containers, process their raw materials and also export their goods efficiently.

Meanwhile, Governor Abiodun in a separate event however officially declared opened the ongoing 13th Gateway International Trade Fair at the M.K.O Abiola Trade Fair Complex, Laderin, Abeokuta the state capital. 

The 2024 edition of the Fair which already commenced on Friday April 19, 2024  will run till Monday April 29, 2024.

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Economy

Gov. Abiodun Promises to Address Economic Challenges

By Web News 377

By Abimbola Bamgbose

Ogun State Governor, Prince Dapo Abiodun has reiterated his administration’s commitment to continue to implement workable Policies and Programmes towards mitigating the effects of the current inflation and economic challenges on residents in the state.

Governor Abiodun gave the assurance at Oja Irorun Civil Servants farmer’s market at Oke-mosan, Abeokuta during the inspection of the ongoing sales of rice to public servants.

The Governor explained that the sales of rice at the subsidized rate was to complement the efforts of President Bola Tinubu who has instituted many interventions to cushion the effects of the inflation that recently broke out in the country.

Governor Abiodun, who commended the workers for their support since the inception of the current administration, said sixty thousand bags of rice had been provided to be sold to the workers starting with level 1 to 7 while that of 8 to 14 would be followed before selling to those on level 15 to 17.

He also commended the head of service in the state, Mr. Kehinde Onasanya, for the proper coordination of the sales of the items.

The Governor promised that other food items like Garri and Beans would soon be available for sale to the public at a subsidized rate. 

Governor Abiodun enumerated some of the interventions already implemented by his government such as the payment of ten thousand naira transport allowance to workers and pensioners, introduction of CNG buses to reduce transportation fares, payment of fifty thousand naira each to eighty thousand indigent students in all the tertiary institutions across the country, provision of free medical care to expectant mothers and the payment of ten thousand naira to four hundred and fifty thousand indigent students in public primary and secondary schools.

Economy

Over 1000 Benefit from Reusable Items in Ogun

By Web News 764

By Oluwatoyin Adegoke

Over One thousand residents of Ogun State have benefited from the distribution of Reusable items generated by the government through its Renew and Reuse Waste Agenda. 

The initiative which encouraged residents to donate items that were no longer of use to them but still in good condition to be used by others had enabled the government to assist the beneficiaries with items such as clothes, shoes, toys and kitchen utensils.  

During the distribution exercise at the Abeokuta North Local Government Secretariat, Akomoje, the Commissioner for Environment, Mr Ola Oresanya and his colleague in the Ministry of  Ministry of Women Affairs and Social Development, Ms Motunrayo Adeleye said the gesture was part of the government’s commitment to making the festive season memorable for the people. 

The Commissioners explained that the donated items had passed through the state government’s renewal processes and were certified fit for usage before being offered to the beneficiaries, under the 

Renew and Reuse Waste Agenda which was launched in December, last year. 

They maintained that the gesture would help as palliatives to reduce the harsh effects of the nation’s economic situation on the beneficiaries while commending those who donated the items for being their brothers’ keepers at this auspicious time.

They gave the assurance that the distribution exercise would continue across the remaining nineteen local government areas, adding that more resources would also be generated from individuals, groups and corporate institutions. 

The Commissioners also announced that Collection Boxes for the Reusable Items would be placed at strategic locations in different parts of the state, including the premises of religious houses, eateries and council secretariats. 

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Economy

Ibadan Residents Gear Up for Eid-el-Fitri Celebrations

By Web News 719

By Dayo Adu

With less 24 than hours into the Eid-el-Fitr celebration, residents in Ibadan defied the economic situation to make last-minute preparations for the end of Ramadan festivities.

The residents were seen buying foodstuffs and materials needed for the celebration.

At some of the markets visited, including Bodija, Akinyele, Gbagi, Aleshinloye, Ogunpa and Dugbe the residents while narrating their experiences lamented the cost of commodities in the market.

Two customers, Miss Sade Ogunsetan and Mrs Funke Akinrinloye said they could not make sufficient purchases of needed items due to the unexpected price increase.

Also speaking, some traders who blamed the situation on the unstable dollar exchange rate, said the increase in the commodities prices was also influenced by the current pump price of fuel.

A visit to Obafemi Awolowo Train Station, Moniya, Ibadan, showed a large number of passengers arriving in the ancient city ahead of the Eid-el-Fitr celebration.

The passengers who lamented the usual delay at Abeokuta said their movement schedule had been affected despite meeting up with the departure time in Lagos.

At various motor parks within the metropolis, it was observed that transport fare was not increased as passengers were seen boarding vehicles to go outside the state capital while some were arriving.

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Economy

OYHA Moves to Strengthen Cooperative Societies

By Web News 580

By Mosope Kehinde

Oyo State House of Assembly, OYHA, has engaged cooperative societies in a stakeholders’ consultative meeting to form an action plan for enhanced productivity of the societies in the state.

The meeting was organized by the House Committee on Commerce and Cooperatives to gather inputs from stakeholders towards an action plan for government’s interventions was a fallout of a motion earlier presented by the majority leader, Mr Sanjo Adedoyin towards repositioning cooperative societies.

In an address, Commissioner for Trade, Investment, Industry and Commerce, Mr Demola Ojo disclosed that the present administration was working towards organizing a cooperative summit that would usher in government’s investment in the societies.

Mr Ojo said the government is presently capturing cooperative societies in the state and will leverage on the numbers of cooperative societies to further impact the lives of residents.

He explained that the government will be involved in the training, promotion and sustenance of cooperative societies, especially for traders and artisans.

Also speaking, the majority leader of the House, Mr Sanjo Adedoyin urged political officeholders and individuals to consider using trade and artisans’ cooperative societies to drive their empowerment programmes.

Some of the stakeholders including the president, Oyo State Cooperative Federation, Mr Adegoke Olusegun and the provost, Federal College of Cooperatives, Dr Sunday Oyeleye advocated yearly government intervention funds and grants, strong cooperative financial institutional practices and review of by-laws, to protect both borrowers and guarantors.

Earlier in a welcome address, chairman, OYHA Committee on Commerce and Cooperatives, Mr Rasak Mabaje expressed confidence that the consultative forum would birth meaningful impact on artisans, traders, farmers and their immediate communities.

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Economy

Oyo Gears Up for Maiden International Tourism Summit April

By Web News 393

By Iyabo Adebisi

Oyo State Government will host the first International Tourism Summit 2024 (#ITSOyoState2024) in Ibadan between April 17 and 18, 2024.

This event, organized by the newly established Ministry of Culture and Tourism, aims to attract local and international stakeholders to explore tourism opportunities and potential investments in the state.

While addressing members of the press at the Conference Room of the Governor’s Office, Secretariat, Ibadan, the Commissioner for Culture and Tourism in the state, Dr Wasiu Olatubosun, stated that Governor Makinde’s commitment to promoting the tourism sector was initially demonstrated through his Executive Order no 2 of 2023, which led to the creation of the Ministry of Culture and Tourism. 

He noted that # ITSOyoState2024 will serve as a platform to facilitate dialogue, with talks, symposiums, panel discussions, and presentations highlighting areas for collaboration and investment.

According to him, the two-day summit, to be held at the International Conference Centre, University of Ibadan, is expected to attract representatives from embassies, tourism leaders, financial institutions, and the international community. 

Dr Olatunbosun added that by showcasing the state’s tourism potential and attracting investors, the government seeks to elevate the state’s tourism industry and drive sustainable economic growth.

He said: “Right now, you can access the programme on our website, https://tourism.oyostate.gov.ng/itsoyostate2024/. We will also have exhibitions of Oyo State arts and culture. On that website you will also find the names of speakers that have confirmed attendance and other details of the programme.”

“A key feature of the programme that I must highlight is the Keynote Address which will be delivered by His Excellency titled, “Unlocking the Tourism Potential of Oyo State through Public-Private Development Partner Collaborations.”

“This summit will also give the State the opportunity to, for the first time, award individuals and organisations that have contributed to tourism in Oyo State through a Governor’s Dinner and Awards Ceremony.”

“To ensure that this event runs smoothly, the government is working with Slvr Wlf Digitale as the communication and marketing partner for this event.  # ITSOyoState2024 is envisioned as a no-holds-barred- conversation between government and stakeholders.”

“It is Oyo State’s way of saying, “Our doors are wide open for investments in tourism, and we are here to guide investors and make things easier for them within the State.”

“As Nigeria faces economic challenges, one of the key things we have to do is export more and earn more foreign exchange. And this is what we plan to do with this event.”

“I will now give the consultant for this event a few minutes to talk about what more you can expect and then we will take your questions,” he said.

Meanwhile, a committee has been set up for the summit which includes Mr Akinola Ojo – Honourable Commissioner for Finance, Dr Debo Akande – Executive Adviser on Agribusiness, International Cooperation and Development, Mr Sulaimon Olanrewaju – Chief Press Secretary and Special Adviser on Media Mr Tilewa Folami – Director General OYSIPA

Others are Dr Morohunkola Thomas – Special Adviser on Socio-Economic Matters, Ms Abigail Anaba – Head of Content Marketing, Slvr Wlf Digitale Ltd. and Dr Wasiu Olatubosun – Honourable Commissioner for Culture and Tourism who is the Chairman of the committee.

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Economy

Ensure Adequate Maintenance, Oyo Govt. Tells Free Stalls Beneficiaries

By Web News 538

By Iyabo Adebisi

Oyo state government has called on the 700 traders allocated stalls at Agodi Gate area Ibadan to maintain the facility for an improved state development.

Governor Seyi Makinde spoke through the Commissioner for Trade and Commerce, Demola Ojo during the allocation of the stalls to the traders. 

He said his administration would not condone street trading to reduce road accidents. 

The Commissioner for Environment, Mojeed Mogbojubola stated that his ministry would continue to enforce road use, traffic and  tradelaws while offenders would be dealt with

Meanwhile, the Babaloja General of Oyo State, Alhaji Yekini Abass appreciated the government for the gesture, cautioning members against mismanagement of markets across the state.

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Economy

Passion Week: Ogun Govt. Distributes Palliatives

By Web News 395

By Wuraola Bamgbose

As Passion Week begins, the Ogun State Government has distributed palliative to Christians across the state to cushion the effects of the economic challenges currently facing the nation 

The palliatives, which included rice, were shared in churches in the three senatorial districts of the State.

In Ogun Central senatorial District, the palliatives were extended to worshippers at St Peters Cathedral, Ake, SS Peter and Paul Catholic Church,  Isale-Ake and Celestial  Church of Christ, CCC, Ijaiye in Abeokuta South local government area.

Also, in Ogun East Senatorial District, worshippers at Cathedral Church of St. Paul, C & S Orisun Emi Alafia, and United Baptist Church at Sagamu in Sagamu Local Government also benefitted from the palliatives distribution.

Similar distributions were made in Ogun West Senatorial District churches, including Rhema Cathedral, CAC Oke Segun, Akiniku, and Ilaro.

Some of the beneficiaries, who spoke with our correspondent, including the Shepherd in charge of Celestial  Church of Christ, CCC, Ijaiye, commended the governor for the kind gesture, noting that the palliatives was another means of alleviating the suffering of the people.

They described Governor Abiodun as a man who cared about the welfare of the people and promised to continue to contribute their quota to the development of the state.

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Economy

Oyo Govt. Allocates Free Stalls to 700 Traders

By Web News 402

By Iyabo Adebisi

In a bid to stop street trading in the state, Oyo State governor, Engineer Seyi Makinde has announced the decision of the state government to allocate free stalls to about 700 street traders at the Agodi-Gate junction in Ibadan. 

He made the announcement during the inauguration of  the Agodi-Gate , Civic Center and Idi-Ape junction improvement projects in Ibadan. 

The governor, who directed that the allocation be carried out with immediate effect, said the decision would go a long way in taking traders off the streets and improve free flow of traffic. 

Governor Makinde enjoined the people of the state to maintain the facilities 

“We are commissioning these three junction improvement. Some people might sat this is a small project why am I commissioning it. 

“These junction improvement reduce the man power spent in traffic another three is coming, U I  road, Polytechnic road, and Eleyele.  junction 

“By completing and commissioning these junction we are making a clear statement of sanity. These project is significant in our quest in omi tuntun 2:0  which is the rule of law. 

“The shops will be given free of charge to traders in gate They will allocate it 2-1 and by so doing take 700 traders out of the street into the stall. 

They won’t give it to civil servants. They would be given immediately. 

“Street trading and illegal dumping of refuse are two uncivil are that we must do away it as citizens of oyo state.  

I have given directives that anyone caught carrying out such acts will face the brunt of the law. 

“We have placed a billboard right here at gate so no one will say they are ignorant of the law. 

“In the next few weeks we will be welcoming local and foreign investment to the state. We cannot decouple tourism promotion from a clean and safe environment 

“As we celebrate these accomplishments and pledge to do more, it’s our believe that the good people of oyo state will use these facilities carefully and protect it from wear and tear.”he said 

In a goodwill message, the Anambra State Governor, Professor Charles Soludo who described Governnor Seyi Makinde as an uncommon and visionary leader said the event is about urban regeneration to develop Ibadan City. 

Earlier,the state Commissioner for Works and Transport, Professor Daud Sangodoyin said the junction improvement projects would  enhance the safety of both motorists and pedestrians, reduce congestion, and improve the overall flow of traffic in the axis of Ibadan metropolis. 

Governor Makinde and his Anambra state counterpart, Professor Charles Soludl later flag -off the road Infrastructure component of the 32.2km out of the 110km circular road in Badeku area, Embedded local government. 

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Economy

Niger Republic Opens Konni for Operations

By Web News 352

One week after the authorities of Nigeria Customs Service opened the Illela land border between Nigeria and Niger Republic, the government of Niger Republic on Friday opened its border in Konni for operations.

A source, Nuhu Samaila, who briefed newsmen from Konni, in Niger Republic, said the border was declared open at exactly 12pm on Friday.

He commended the decision of the leadership of the country, the military junta, for giving a listening hearing to the yearnings of the people by ensuring the border is open.

“It is a commendable effort, at least by the government, to have done the needful at last.

“It was our collective prayer that this border too should be reopened after the Nigeria side was declared open.

“I want to believe that this will definitely help a lot in the improvement of the economy of these two countries, as it will facilitate more trading activities between Nigeria and Niger Republic,” he added.

The Federal Government had last week Wednesday restored the supply of electricity to the Republic of Niger following the directive of President Bola Tinubu that Nigeria’s land and air borders with the neighbouring country be opened.

On August 3, 2023, It was reported that the power supply from Nigeria to the Republic of Niger was stopped as part of the sanctions against the neighbouring country by the Economic Community of West African States.

Earlier in August last year, ECOWAS, led by Tinubu, imposed sanctions on Niger following a coup that toppled the country’s President-elect, Mohamed Bazoum, in July 2023. Officers of the Niger Presidential Guard had on July 26, 2023, arrested Bazoum and declared him deposed.

In their reactions, ECOWAS leaders demanded the full restoration of constitutional order in Niger and declared Bazoum’s arrest and detention illegal.

Also, in compliance with the directive of the President on the immediate reopening of the land border with Niger Republic, the Controller, Nigeria Customs Service, Kebbi State command, Iheanacho Ojike, reopened Kamba land border.

While re-opening the border, Ojike said Kamba is a strategic border with a major share in Kebbi State revenue generation.

Punch / Titilayo Kupoliyi

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Economy

We are ensuring ease of doing business – Gov. Adeleke

By Web News 409

By Funmi Ojo

Osun State Governor, Senator Ademola Adeleke has described business as the bedrock of national development.

Governor Adeleke stated this when he received the leadership of the Manufacturers Association of Nigeria, MAN, comprising of Osun, Oyo, Ekiti and Ondo states at the Government House, Oke-fia, Osogbo.

The Governor who maintained that developed countries thrives due to the industrial revolution said Osun is industrial-friendly and will never undermine business establishment.

He said his administration has been partnering with Osun State Chambers of Commerce and Industry, stressing that the State government is ensuring ease of doing business.

While describing MAN as top employers of labour, creating national wealth through entrepreneurs, the Governor said the State is open for business to address poverty and create wealth.

Earlier, the Chairman of the Association, Mr Lanre Popoola had said the association is working towards contributing to the growth of manufacturing Industries in Osun State through collaboration with the Government to address challenges such as infrastructural development; access to finance and markets.

While soliciting the support of the government on the Akoda-Ede Industrial Estate construction, Mr. Popoola maintained that this would attract investors that can contribute to the economic growth of the State as well as improve the well-being of the people of the State.

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Economy

Adeleke Sets up Committee on Contract Review Implementation  

By Web News 349

By Funmi Ojo

In pursuance of his commitment to transparency and accountability, Governor Ademola Adeleke has set up an eight-man panel for the implementation of the report and white paper on the Committee for Review of Contract awarded during the administration of former Governor Gboyega Oyetola.

Governor Adeleke had in 2022 set up the contract review committee after the assumption of office through an executive order, following humongous contract corruption inherited from the previous administration.

In a statement by the Governor’s Spokesperson, Mallam Olawale Rasheed, the new panel is charged with enforcing the recommendations of that original review committee and the subsequent white paper approved by the State Executive Council.

Members of the committee include Commissioner for Information and Public Enlightenment, Chief Kolapo Alimi, Attorney-General and Commissioner for Justice, Mr Jimi Bada, Commissioner for Local Government and Chieftaincy Matters, Mr Dosu Babatunde, Commissioner for Health, Mr Jola Akintola, Permanent Secretary, Ministry of Works and Infrastructure, Mr Bashiru Bello, and Senior Special Assistant on Bureau of Social Services, Mr Bello Sheriff.

Terms of reference of the panel include enforcing the recommendations in the committee report and white paper, ensuring prosecution of culprits through relevant agencies and implementing all institutional recommendations to prevent reoccurrence of distortions in contract award and management.

The committee is expected to commence operations immediately by giving effect to each of the committee recommendations as approved by the State Executive Council.

Governor Adeleke vowed to implement the white paper on previous contract awards.

“We have a duty to secure state assets and resources for the enjoyment of present and future generations. We have a responsibility to enforce accountability as a precaution against leadership recklessness. I urge this committee to pursue all legal means to implement the recommendations of the contract review committee”, Governor Adeleke noted.

The inauguration of the committee comes up soon.

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Economy

Ekiti Govt. Disburses 500 Million Naira to Pensioners

By Web News 623

By Ayodeji Kazeem

Ekiti State government has disbursed gratuity checks of five hundred million naira to more than fifty-two pensioners across the state.

Governor Biodun Oyebanji, during the presentation ceremony in Ado Ekiti, reiterated his administration’s commitment to clearing the substantial backlog of gratuity debts in the state, which currently stands at over 40 billion naira.

He informed the pensioners that he has approved a monthly commitment of 200 million naira for the payment of gratuities to both state and local government pensioners, pending the time when the government will reach an agreement on the modalities to offset the full debt.

The chairman of the Nigeria Union of Pensioners, NUP, in Ekiti State, Elder Joel Komolafe, expressed concerns over the outstanding gratuity debt and appealed to the governor for a concrete plan to fully clear the backlog of the gratuities.

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Economy

Okeyinmi Flyover: Ekiti Govt Begins Payment of Compensation

By Web News 831

By Ayodele Kazeem

Ekiti State governor, Mr Biodun Oyebanji has commenced payment of compensation to the owners of properties acquired for the construction of the Okeyinmi Flyover Bridge in Ado Ekiti. 

During the cheque distribution ceremony in the state capital, the governor assured swift and fair compensation for all affected landowners.

Represented by the Deputy Governor, Chief Monisade Afuye, Mr Oyebanji said the flyover is part of a broader initiative to transform Ado-Ekiti into a hub of premier infrastructure, aims to alleviate future traffic congestion and stimulate business activity. 

He noted that the project is complementing the road constructions in the state capital, including Omisanjana-Ajebamidele and Ikere-Ilawe, among others, designed to unlock new business and investment prospects in Ekiti State.

The governor pledged that the projects would be delivered within the stipulated time, while all uncompleted projects of the past administrations in the state would also be completed.

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Economy

NDE Empowers Youths in Ogun

By Web News 645

By Oluwatoyin Adegoke

The National Directorate of Employment, NDE, has provided 40 graduates of its Community-Based Training Scheme in Ogun State with start-up kits as empowerment to enable them to become self-reliant.

In a message to the event, Director-General of the NDE, Mallam Abubakar Fikpo emphasized that the federal government was promoting youth empowerment, training and capacity building as important tools to tackle unemployment, youth restiveness and crime in society.

Mallam Fikpo who was represented by the Ogun State Coordinator of NDE, Mrs. Kehinde Oshinowo maintained that the growth and development of every economy depended on the quality of labour and manpower, urging the beneficiaries to utilize the skills and knowledge acquired towards generating income.

Mrs, Oshinowo disclosed that beneficiaries drawn from the 20 Local Government Areas of the State were offered the resettlement items as a form of loans, expected to be paid back within 3 years.

Also, the National Director, Vocational Skills Development, Hajiya Aminu Lewa who spoke through Miss Biliqisu Jimada said the purpose of the empowerment was to reduce the number of unemployed youths in the society and improve the socio-economic status of the participants. 

Hajiya Lewa said the participants would be monitored periodically and enjoined them to make judicious use of the starter packs to leverage on the prevailing economic situation in the country, while urging them to also endeavour to train others.

Some of the participants including Miss Adetola Adetokun and Mr Lekan Ajayi promised to take advantage of the gesture to boost their productivity and commended the federal government for the laudable programme that enabled them to showcase their talents.

The forty beneficiaries were supported with start-up kits for different vocations, including Tailoring, Shoe making, Catering, Barbing and Cosmetology.

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Economy

Don’t Export Grains, Customs Boss Warns Dealers

By Web News 376

Worried by the current food crisis in the country, the Comptroller General of Nigeria Custom Service, Bashir Adeniyi, has warned dealers at the Dawanau International grains market against exportation of grains such as maize, beans, sorghum and rice.

This was as he said it is set to fully implement the export prohibition act forbidding exportation of the specific grains in the country

The Customs Comptroller General stated this when he led a delegation to meet with the leadership of the Dawanau International grains market in Kano.

He said the decision became imperative in the face of the current food crisis in order to ensure food sufficiency in the country

According to him, “In Nigeria, you may be aware of the export prohibition act and that is the law that forbids taken some food items out of the country. That law has been there for some time, it is because we are in a situation of food sufficiency, that is why it has not been implemented.

“Now, we are in food crisis, the President has asked me to request your understanding that during this period, we are going to implement the laws forbidding the exportation of certain grain items such as maize, beans, sorghum, rice. We do not want those that are locally produced in Nigeria and those that are already imported to be re-exported out of the country. And you are a very big stakeholder in this particular business.

“It is only those that have fed and are fully okay that can begin to take what they cannot eat out of the country. We have not gotten to that level currently. And this is why we are seeking your understanding that at this period we have to restrict the movement of our grains particularly the strategic ones out of the country.

“Everywhere in the world, they also have those goods that do not allow them to export. If you want to buy them, you cannot. As advanced as countries like the United States of America, you know that the US government have a policy whereby they manage the stock of their farmers through the use of subsidies, strategic results and all of that measures and they were able to manage what goes out and comes into the US. Every responsible organization or countries takes that kind of decision,” he said.

The Customs boss however said so far its men and other agencies have intercepted over 120 trucks across the country attempting to export the grains.

“Before today, I had a meeting with transporters, journalist to get their support and understanding. And that is why I have also come to this market because we know this is the biggest market. So that you don’t take interest in where your exports are going,” the CG, Adeniyi however stated.

Earlier, the Chairman of the market, Muttaka Isa said the traders in the market were not hoarding food items.

Vanguard/Simeon Ugbodovon

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Economy

Tambuwal Visits OBJ, Calls for Patience over Economy

By Web News 371

By Oluwatoyin Adegoke

Former Speaker of the House of Representatives, Alhaji Aminu Tambuwal wants Nigerians to renew their hope in the country and be patient with the present administration towards surmounting the economic challenges confronting the nation. 

The Senator representing Sokoto South at the 10th National Assembly stated this in Abeokuta, during a visit to former President Olusegun Obasanjo on the occasion of his 87th birthday. 

Alhaji Tambuwal while reacting to the state of the nation said it was necessary for the citizens, both the leaders and followers to continue to pray and do the right thing, giving the assurance that the National Assembly was working on people-oriented bills, including those that would ensure that Nigerians became beneficiaries of affordable housing projects. 

He also used the occasion to appeal to President Bola Tinubu to listen to the cries of Nigerians and find lasting solutions to the harsh socio-economic realities that the citizens had continued to grapple with.

Describing Chief Obasanjo as a great leader and a source of inspiration, not only to Nigeria and Africa but globally, Alhaji Tambuwal prayed to God to grant the elder statesman long life and good health, saying his annual visits to the celebrant remained a thing of joy.

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Economy

The Aziza Development Foundation Trains Ogun Women

By Web News 623

By Titilayo Kupoliyi

More than 200 women have benefitted from the maiden edition of The Aziza Development Foundation(TADF)’s business and financial literacy programme.

The programme, which took place in Matogun Community, Ifo Local Government Area of Ogun Sate was attended by small, nano and micro entrepreneurs.
The participants were trained on financial products such as savings, insurance, micro-pensions and simple business record keeping methods.

The participants were also grouped to allow them a chance to apply the learnings and access affordable loans or other financial products needed for their various businesses.

Most business owners in attendance were involved in general trading and livestock farming.

Mrs Funmi Okubanjo, the convener of the programme, noted that the training was to improve the knowledge of financial products and services among entrepreneurs, so as to enhance their business productivity and use of formal financial services.

“Our underlying belief is that if we improve knowledge and access to useable financial products and services for women and female micro entrepreneurs, we can improve their livelihood and contributions to the economy”.

Some of the participants at the training lauded the organization’s efforts at putting the training together and suggested it should be a continuous exercise.

The Aziza Development Foundation, (TADF) is a non-profit organization that was birthed in 2021 by Radiant Futures under its economic empowerment program, with the aim of training female entrepreneurs in underserved communities on financial and business literacy and driving access to affordable loans from financing partners like Amali.

TADF also works to improve girls’ financial literacy skill as a lack of such critical skill could be a potential future problem for them and their families.

Economy

Shettimma Inaugurates Fashion hub in Ogun

By Web News 778

Vice President, Senator Kashim Shettima has inaugurated a fashion hub and Adire shared facility in Ogun State with a promise to continue to support Micro, Small and Medium Enterprises, MSMEs, in the country.

Senator Shettima while addressing the people at the second expanded National MSMEs business clinic held at the June 12 cultural centre, Kuto, Abeokuta also announced instant cash grants to over two hundred beneficiaries in the state.

The Expanded National MSMEs Business Clinic is an initiative of the Federal Government being implemented in collaboration with State governments. 

It is geared towards providing lasting solutions to challenges hindering the development of Micro, Small and Medium Enterprises, and MSMEs, as well as helping MSMEs have access to capital, formalize their businesses and also exhibit their products.

Vice President Kashim Shettima, during the occasion, inaugurated a Fashion Hub project at the Old OGTV auditorium with more than 150 state-of-the-art tailoring equipment provided for stakeholders in the fashion industry as well as the Adire shared facility at Asero, Abeokuta. 

Senator Shettima who described the second expanded National Micro, Small and Medium Enterprises as a strategic intervention to fortify the foundation of small businesses as done in Benue State in February maintained that the programme was designed to bridge the gap between the government and the people.

The Vice President who said the gesture was part of the present administration’s commitment to support enterprises and empower the owners used the occasion to solicit the continued support of Nigerians for President Bola Tinubu in his quest to reposition the country’s economy.

In a remark, Governor Dapo Abiodun of Ogun State said the present administration would continue to initiate friendly policies and programmes that would further assist small businesses to thrive.

Governor Abiodun who described Micro, Small and Medium scale Enterprises as the bedrock of the economy which he said contributed about fifty per cent to the gross domestic product, GDP,  identified lack of access to finance, poor power supply and infrastructure as some of the challenges affecting the growth of the small scale businesses.

Also, The minister of Finance and coordinating minister of the economy, Mr Wale Edun said President Bola Tinubu would continue his intervention programmes, especially for people at the grassroots level.

Earlier, the Commissioner for Industry, Trade and Investment, Ogun State, Mr Adebola Sofela, had commended the Federal government for supporting the MSMEs with state of the art facility which he said demonstrated determination and hope for Nigeria. 

The programme attracted captains of industries from both the public and private sectors of the economy and National and State Assembly lawmakers.

Economy

Economic Hardship: Tinubu Takes Full Responsibility

By Web News 471

… Welcomes Criticisms

President Bola Tinubu, has appealed for patience from Nigerians over the current economic hardship in the country, giving the assurance that there was light at the end of the tunnel.

The President said he was fully aware and took responsibility for the difficulties Nigerians had been subjected to on account of government policies.

He said he would not complain but welcome all criticisms since he was the one who asked to be Nigeria’s President.

The President spoke in Akure, the Ondo State capital, during his visit to the leader of the pan-Yoruba sociopolitical organisation, Afenifere, Pa Reuben Fasoranti in Akure.

The fuel subsidy removal and other economic reforms instituted by Tinubu have attracted public censure following the high costs of living, food inflation and other side effects.

The situation compelled the Nigeria Labour Congress to hold a nationwide protest on Tuesday.

The congress also threatened further mass action if the government failed to address the economic crunch within two weeks.

However, addressing public concerns over his economic policies, the President said, “Nigeria will survive the current economic challenges. There is light at the end of the tunnel. I requested the job, and I am not complaining about it. I take full responsibility.”

This was contained in a statement by the  Special Adviser to the President on Media and Publicity, Ajuri Ngelale, titled,  “President Tinubu: I take full responsibility for the nation; we are building an efficient Nigeria that is inclusive and fair to all Nigerians.’’

Tinubu emphasised his commitment to leading Nigeria towards economic and social prosperity, saying, “We are meeting our obligations to the international community. To lenders, we have not defaulted, and we are not going to default. We are navigating the twists and bends on the road to Nigeria’s prosperity.”

On reforming Nigeria, the President said his task would be to ensure fiscal and true federalism, as well as the broad-based manifestation of the philosophy of “what is sauce for the goose is sauce for the gander.”

He acknowledged the understanding and support of all Nigerians in the face of the harsh but temporary economic conditions, assuring them that their patience and perseverance will not be fruitless.

“But, through perseverance, Lagos emerged as the fifth largest economy in the entire continent of Africa. We must manage this moment with wisdom and grow Nigeria responsibly.

“I campaigned for this office to serve Nigeria’s interests and I was elected. Some said I would not last in the tribunal and came up with all sorts of predictions, but even when in court, I remained focused.

“We cannot allow Nigeria’s economy to be exploited. We cannot abandon our economy to marauders. I am determined to re-engineer our finances and curb selfish interests permanently,” he stated.

Speaking on behalf of Afenifere, Pa Olu Falae, a former Secretary to the Government of the Federation, who read the address of Pa Fasoranti, commended Tinubu for his commitment to Nigeria’s progress and expressed support for his administration’s efforts.

“You have kept your word to return to this place where we all prayed for you, and this shows that you are a man of your word,” the elder statesman stated.

Pa Fasoranti asked President Tinubu to be fair and courageous, declaring that such traits were the hallmark of the Afenifere family.

“Today, you are carrying our flag. We are noted for integrity, competence, fairness, and courage. Your performance so far has shown that you understand the full gravity of your mandate, which is to show the Nigerian people that a good government is possible,” he said.

Fasoranti also charged the President on institutional reforms, saying,  “Mr President, please also seek institutional reforms that would strengthen our federation and make Nigeria safer and more prosperous. Try and balance the budget and execute capital projects that would create more employment. We thank you for welcoming the idea of state policing.’’

He added, “We want each of the geopolitical zones to have greater responsibilities for security, food production and infrastructural development. Since the removal of fuel subsidy, which was costing Nigeria $10bn yearly, the state governments have been receiving hefty allocations from the Federation account.

“Mr President should persuade the governors to allow this change of fortune for the states to reflect at the grassroots so that life can be better for our people. They should not just buy rice and yams for the people. They should create employment, improve education and build new infrastructures. Today, life is truly challenging for most people and the state governments have an important role to play to transform society.”

Fasoranti received the President in the company of some Afenifere leaders, who included a former governor of Ondo State, Dr Olusegun Mimiko, Chief Sehinde Arogbofa, Deji of Akure, Oba Aladelusi Aladetoyinbo, Chief Kole Omololu, among others

Punch/ Oluwayemisi Owonikoko

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Economy

CBN Talks Tough on Banks

By Web News 436

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has vowed to pursue an aggressive regulatory environment to reduce infractions in the country’s banking system.

He said this on Tuesday in Abuja at the Monetary Policy Committee meeting of the apex bank, the first since he assumed office in September 2023.

He also stated that an in-depth investigation was underway to determine the necessary actions against banks involved in infractions, stressing that the bank was in the process of formulating “stringent regulations” to cleanse and purify the country’s foreign exchange market.

The governor, responding to questions on steps taken to promote trading on the foreign exchange market, also revealed that its foreign reserves increased to $34bn as of February 20, up by $2bn from the $32.23bn recorded at the end of January.

The naira has depreciated to an all-time low since the new administration floated the currency and unified the exchange rate windows.

The Nigerian currency weakened from over N700/$1 in May 2023 to over N1,500/$1 on Tuesday.

However, Cardoso said that the apex bank was moving to a “very aggressive regulatory environment”, adding that the CBN would do all within its powers to curb arbitrage aided by banks and BDCs.

He said, “What we are doing at the moment is a collaboration between the central bank and the law enforcement agencies to ensure that we can understand better what is going on in the market and where infractions are taking place. They will be speedily dealt with.

“Now, I must say that we are moving as far as the central bank is concerned, we are moving to a very aggressive regulatory environment, where those policies have been coming out, as you can see, and tolerance for people not to abide by the regulations that are coming out and to comply is zero.

“People will have to abide by those regulations, and those that do not will face the consequences. I can assure you that a very thorough exercise is going on to identify what needs to be done on banks aiding infractions. And once we come out with the outcome of those, it is not something that we will keep to ourselves. We will advise you accordingly and we will do what we have to do.”

According to Cardoso, the Apex bank would continue to make the market more liquid and to ensure that those who are genuine and want to abide by the rules and regulations that have been set by the central bank will be free to do so, adding that those who do not should be ready to face the consequences.

“Gross external reserves stood at $34.51bn on February 20, 2024, compared with $32.23bn at the end of January 2024. The improvement was driven by reforms in the foreign exchange market and an increase in oil production amongst others in the global economy,” he disclosed.

Cardoso revealed that the apex bank had paid another $400m out of $2.2bn of valid FX backlog to those who were genuinely identified.

According to the CBN governor, the bank will work to restore the confidence of the public and remains committed to its FX backlog to businesses being owed.

He stated, “In terms of the backlog, we are committed to clearing the backlog of identified and genuine requests that are pending. We are committed to doing that and I can tell you that just today, we paid out $0.4bn to those that were identified, and we are committed to continuing doing so in one form or the other to those genuinely identified and proven cases.”

The CBN had a $7bn FX backlog when Cardoso assumed office as the apex bank governor on September 15, 2023.

However, the CBN governor stated in an interview that the legitimate FX obligation of the bank stood at over $4bn and the bank had cleared around $2.3bn with about $2.2bn remaining.

Also, the Governor stated that around $2.4bn of FX claims were not valid after the bank instituted a forensic audit of the claims.

 Reiterating his stance on the suspension of intervention programmes and loans by the bank, the former Lagos State Finance Commissioner, said, “Interventions have two dysfunctions as far as I am concerned, from the central bank space. One is that it takes away a lot of your time for something that really and truly you do not have the expertise to do. And two, it also, if not carefully handled, creates a lot of distortions in your economy through the inflow of money supply. The interventions that took place in the recent past were estimated in excess of N10tn.

“I am not talking about ways and means. I am talking about interventions, over N10tn. What was the budget of the Federal Government of Nigeria? What was the budget of the largest state in Nigeria? Do the math and it will tell you the extent of damage. Too much of what may appear to be good things can do (harm) to an economy. So, for me, it is a major issue.”

Punch/Adebukola Aluko