Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Thursday, September 19, 2019

Nokia 7.2 With 48-Megapixel Camera Launched In India

Nokia 7.2 With 48-Megapixel Camera Launched In India

Nokia 7.2 With 48-Megapixel Camera Launched In India
HMD Global on Thursday announced the launch of Nokia 7.2 in India. Set to go on sale on September 23, Nokia 7.2 will be available via Nokia.com and Flipkart at a starting price of Rs 18,599 for the 4GB, 64GB variant.

The top-end model with 6GB RAM and 64GB storage will be available for Rs 19,599.

The smartphone will be available in Charcoal and Cyan Green colour options.

Nokia 7.2: Offers For Online, Retail

Customers purchasing Nokia 7.2 from the company’s official e-store will receive Rs 2,000 gift card.

The offer is available till October 31, 2019. Customers buying the phone from Flipkart will receive an additional Rs 2,000 off on exchange.

Flipkart customers will also be eligible for 5% cashback on buying the phone using HDFC Bank Debit Cards.

During Flipkart’s Big Billion Days sale, Nokia 7.2 buyers will get 7.2% instant discount. The sale starts on September 29.

For retail customers, HMD Global is offering 10% cashback on buying the phone using HDFC Bank Credit and Debit cards on EMI and regular transactions done through Pinelabs terminals.

Customers will also receive 10% cashback on buying the phone through HDFC consumer finance.
Hindustantimes

Wednesday, September 18, 2019

Chemical Weapons: FG Warns Producers, Marketers

Chemical Weapons: FG Warns Producers, Marketers

The Federal Government has cautioned producers and marketers of chemical weapons against allowing it into the hands of non-state actors.

The Federal Government has cautioned producers and marketers of chemical weapons against allowing it into the hands of non-state actors.

Mr Gabriel Aduda, the Permanent Secretary, Political and Economic Affairs in the Office of the Secretary to the Government of the Federation, gave the warning at a sensitisation workshop in Kano on Tuesday.

The workshop was organised by the federal government to educate major stakeholders in the North west on sound management of chemicals as part of measures to prevent its getting into wrong hands.

Aduda said the workshop was also aimed at promoting awareness and safety, by strengthening the understanding of stakeholders on proper handling of chemical and biological weapons.

Aduda said chemical producers, marketers, transporters and users, as well  as regulatory authorities involved in implementation of the Chemical Weapons Convention (CWC) participated in the workshop.‎

‎"The objective among others, is to raise awareness among relevant national stakeholders and representatives of the chemical industries in the North -West zone on the CWC and its national implementation in relation to the chemical industry.

“Ensure that chemical weapons imported into the country are used for the purposes for which they are meant and government also makes sure that these chemicals do not get into the hands of non-state actors; it ‎will‎ have great repercussions,” he explained.‎

The permanent secretary said similar workshops were held in Lagos and Port harcourt.   ‎

Some of the participants who spoke to source recommeded the federal government for organising the event, which they said had enhance their knowledge on how best to handle chemical weapons.‎

They urged the government to evolve a National Action Plan to guide and regulate the use and threat of chemical weapons in Nigeria.
(NAN)

Friday, September 13, 2019

 Sterling Bank Introduces New Dress Code For Employees

Sterling Bank Introduces New Dress Code For Employees

 Sterling Bank Introduces New Dress Code For Employees

Living up to its reputation as Africa’s most agile company and Nigeria’s most innovative bank, Sterling Bank has empowered its employees in its employment to work in ways that is best for them, which for most, doesn’t involve wearing a suit - dailypost reports

Inventors in the bank work in Technology, Digital Banking and Brand Marketing and Communication offices, while influencers are in business enabling roles which include Human Capital, Service Management, Risk Management, Enterprise Project Management, GIS offices etc.

Commenting on the revolutionary dress code, Chief Human Resources Officer (CHRO) of the bank, Temi Dalley, said it is indicative of Sterling’s dynamic and forward-thinking culture and the great value placed on employees.

According to Temi, enabling the employees, especially those within the technology, creative and innovative spaces, to come to work in a relaxed work mode (business casual) will enhance creativity and innovation. Sterling is an agile company, which in itself is a journey, and our dress code must evolve to match our increasing agility.

We have been in existence for over 50-years though with a startup mindset which explains our leaning towards a relaxed dress code (business casual) which will have a huge impact on productivity, employee morale, and retention across the business.” she disclosed.

The new Sterling dress code allows employees depending on their core functions to wear, wearables like Jeans, chinos, native attire, loafers, sneakers etc.

SEE OTHER SAMPLES BELOW:

Sterling Bank introduces relaxed dress code for her employees
Sterling Bank introduces relaxed dress code for her employees
 Sterling Bank Introduces New Dress Code For Employees
 Sterling Bank Introduces New Dress Code For Employees
 Sterling Bank Introduces New Dress Code For Employees
 Sterling Bank Introduces New Dress Code For Employees

Saturday, September 7, 2019

Access Bank Targets 65m Customer Base By 2022

Access Bank Targets 65m Customer Base By 2022

Access Bank Targets 65m Customer Base By 2022

Determined to boost financial inclusion, Access Bank Plc says it is targeting a customer base of 65 million by 2022, through financial digital products.

Mr Chinedu Onuoha, Access Bank Head, Business Development and Planning, gave the figure at the unveiling of ‘Access Money Wallet’, a product introduced to drive financial inclusion in Lagos.
Onuoha said that the bank was targeting a minimum of 65 million customers by 2022 which would be driven through financial solutions.

“We have about 30 to 31 million customers presently, by 2022 we intend that we will have a minimum of 65 million customers, and the effort to drive the figure is through financial solutions like Access Money Wallet,” he said.

Onuoha, who is also Chairman, Association of Licensed Mobile Payment Operators (ALMPO), said “all the statistics shows that a good number of Nigerians don’t still have access to financial services.”
He said that the bank, from time to time, reviewed processes to drive the financial inclusion drive of the Federal Government by ensuring that all Nigerians, especially adults, had access to financial services.

“What we do from time to time is to see what is it we can do or change; and operate differently from the way it is being done today  to induce these Nigerians to financial services and also to bring these services closer to them,” he stated.

Onuoha explained that financial services accessibility was the key issue in ensuring financial inclusion.
Speaking on Access Money Wallet product, he said that the product was designed for customers who had abandoned their accounts because of inability to provide the needed Know Your Customer (KYC).

“Access Money Wallet is a different type of account which we make available to or design for customers who for some reasons do not have all that is needed to provide for KYC for other types of bank account.
“There are some accounts that you want to open they will ask you to bring utility bill and  address, among others.

“But we know the peculiarities of our country Nigeria, some Nigerians are good citizens who work every day to earn a living but don’t have places where you have utility bills and addresses.
“What we have done with Access Money Wallet is to say just come, give us your name, give us your date of birth, give us your gender and your age.

“And once you are an adult and a legitimate citizen we will give that wallet. It’s an account that allows transactions to be done through the mobile phone or also by going through our agents outlets across the country.
“So, that is what we are trying to do with Access Money Wallet to deepen the financial inclusion,” he stated.

According to him, the bank has in the market the highest number of  financial inclusion customers of roughly 18 million customers.
“What we discovered over time is that due to the way the market is operated and due to do some regulations that come from time to time a good number of these customers do not meet some requirements for operating properly the way accounts traditionally were been operated.

“Some of them pulled back and stayed back, our recent campaign is to tell them that we have a solution to it.
“We have roughly about 15 to 18 million customers who are financial inclusion customers, the current campaign is to make them reactivate their accounts,” Onuoha said.

He explained that customers can check their balances, send money to relatives, buy airtime with Access Money Wallet product.

“The daily limit is up to N50,000 in terms of withdrawals and the wallet can hold as much as N300,000,” he added.
On loan lending, Onuoha said that the bank’s conversation with customers would increase once they enrich their KYC.

“As customers enrich their KYC, the bank’s conversation with the customer would increase , and the customer can now start benefiting from our lending products,” he said.
Onuoha said that the bank, in 2018, gave out about N1.5 million loans through digital channels,  and would give out over N3 million loans in 2019.
(NAN)

Thursday, September 5, 2019

Iran: 7 Crew Members Released From Seized British-Flagged Oil Tanker

Iran: 7 Crew Members Released From Seized British-Flagged Oil Tanker

Iran releases 7 crew members from seized British-flagged oil tanker


The release of a Seven crew member on a British-flagged oil tanker that was seized by Iran in July have been made and were heading for a “safe location,” the Sweden-based shipping company that operates the Stena Impero said.

The shipping company’s chief executive, Erik Hanell said this in a statement on Thursday.

They are “now travelling to a safe location where they will be reunited with their families.

They will receive medical checks and a debriefing before being repatriated to their home countries at the earliest opportunity,” Hanell said.

He told dpa that the seven were en route to Dubai, adding that the company would not give out the names of any crew members.

Meanwhile, he had no new information about the possible release of the Stena Impero from an Iranian port of Bandar Abbas.

He added that 16 crew members were remaining on board in line with the so-called Minimum Safe Manning Certificate that is issued by the flag state and sets the minimum number of crew needed to safely operate the vessel.

Last month, Hanell met with Iranian Foreign Minister Mohammad Javad Zarif during the diplomat’s tour of the Nordic region.
(dpa/NAN)
China, U.S To Resume High-Level Trade Talks Very Soon

China, U.S To Resume High-Level Trade Talks Very Soon


China, U.S To Resume High-Level Trade Talks In October
China, U.S To Resume High-Level Trade Talks In October

China and the United States agreed to hold high-level trade talks in early October in Washington, China’s commerce ministry said, amid fears that an escalating trade war could trigger a global economic recession.

Asian shares extended gains and US stock futures jumped on the news.

The announcement followed a call earlier in the day between China’s Vice Premier Liu He and US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin, the Ministry of Commerce said in a statement on its website. China’s central bank governor Yi Gang was also on the call.

Both sides agreed that they should work together and take practical actions to create good conditions for consultations,” the ministry said.

Trade teams from the two countries will hold talks in mid-September before the high-level talks next month, the ministry said. Both sides agreed to take actions to create favorable conditions, it said.

A spokesman for the US Trade Representative’s office confirmed that Lighthizer and Mnuchin spoke with Liu and said they agreed to hold ministerial-level trade talks in Washington “in the coming weeks”.

Washington began imposing 15 percent tariffs on an array of Chinese imports on Sunday, while China began placing new duties on US crude oil. That prompted China to lodge a complaint against the United States at the World Trade Organization.

The US plans to increase the tariff rate to 30 percent from the 25 percent duty already in place on US$250 billion worth of Chinese imports from Oct. 1.

US President Donald Trump warned on Tuesday he would be tougher on Beijing in a second term if trade talks dragged on, compounding market fears that ongoing trade disputes between the US and China could trigger a US recession.

Chinese leaders will have a packed schedule next month, gearing up for National Day celebrations scheduled for Oct. 1.

They will also hold a key meeting in October to discuss improving governance and “perfecting” the country’s socialist system, state media has said, more than a year after the last was held.

(Ejinsight)

Wednesday, August 21, 2019

Shipping Lines Accused Of Flooding Nigerian With Expired Containers

Shipping Lines Accused Of Flooding Nigerian With Expired Containers

The intractable challenges associated with the evacuation of empty containers from the Lagos ports has taken a different dimension following a widespread allegation by importers, clearing agents, freight forwarders and logistics providers that Nigeria has become dump ground for expired containers.
Shipping Lines Accused Of Flooding Nigerian With Expired Containers
Shipping

While stakeholders contend that containers have a maximum of 20 years lifespan, they accused Maerskline, China Shipping, Cosco, Nedlloyd, CMA CMG and others of not only using Nigeria as a dump ground for these expired boxes but equally making brisk business out of it through the demand for the payment of container deposit on every container of import.

This is even as some stakeholders further alleged that the foreign shipping lines found it convenient to concentrate the alleged expired containers to Nigeria since they are not allowed to ply expired ones in their home countries and the developed nations including some Indo-China countries; whose governments have efficient control system against unacceptable standards.

Reacting, chief executive officer of Skellas Nigeria Limited and immediate past national president of the Association of Nigeria Licensed Customs Agents, ANLCA, Prince Olayiwola Shittu said the Nigerian Shippers’ Council has the responsibility for standard container oversight.

According to him, “The Nigerian Shippers’ Council has the responsibility of monitoring and ensuring that only acceptable standard containers are used in bringing goods to our ports. Even Nigerian highways are littered with so much abandoned containers. The shipping companies compensate themselves with container deposits when the value of some of those containers is not even up to the sum of the deposit.

“I won’t be surprised that Nigeria has become a dumping ground for expired containers. Containers are valuable for cargo distribution, the routine is to use them around the world for 20 years in most cases and be disposed of properly. Surprisingly you can apply to the container agent that you want to buy a container and they give you invoice, so it’s the media that should investigate and let Nigerians know what is happening because the local agent selling is the representative of the liners.

“So are they trying to recycle the containers? But what would be the motive for dumping containers, and when you juxtapose that too many shipwrecks abandoned by their owners at our waterways, most of the shipwrecks are foreign-owned, you begin to worry. They are economically valuable; the steels can be processed into other economic uses. So the issue is rather complicated.”

Also speaking on the matter, erudite customs agent and business tycoon, Chief Ernest Elochukwu said the issue is hydra-headed and blamed the Nigerian authority for exhibiting relatively little control measures that may have resulted in the present fears and allegations.

His words: “I cannot confirm off-hand the veracity of that information. But then judging from what has been going on for a long time now, it is possible that because of the problems of returning the empties that there might have been some kind of compromise on the quality of containers they use in bringing goods here.

“The empties are supposed to be returned to ports of shipment, so when the empties are not promptly returned there are bound to be a breach in the system and could result in the situation we are said to be in right now. As a country we should be asking ourselves a lot of questions, first, why did we fail to plan for the future expansion of our premier ports, talking about Apapa and Tin Can, which attracts almost our entire import.

“Some of the problems surfacing must be traced back to lack of foresight and proper planning by government and its agencies. For some time there has been blaming trading between operators and government agencies, this has no room if the respective authorities have been up and doing.”

Ship agent, importer and industrialist, Chief James Idornigie said there is no need for worry if the containers can deliver goods safely and without question of quality crisis. He said: “It is still a rumour, nothing official has been said about it. I know that some of the containers are also leased by shipping companies who monitor the movement of these containers wherever they are. Lloyd Insurance also takes interest in container leasing, they also aware of containers movement and are monitoring.”

“I don’t know how the expiration of containers concerns Nigeria if the liner is able to deliver our goods. If the condition of a container affects the quality of imported goods, yes, we can make a case.”

Contributing, President of National Association of Govt. Approved Freight Forwarders, NAGAFF, Chief Uche Increase said the lifespan of a container is not in dispute in Nigeria and urged the relevant authorities to do the needful to ensure that shipping lines adhere to the rules of engagement.
(Vanguard)

Tuesday, August 20, 2019

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote, says that the number of expatriates working in the Nigerian oil and gas sector has been reduced by 80 per cent.
Expatriates in oil, gas sector reduced by 80% – Wabote

Wabote disclosed this on Monday in Abuja at the NCDMB’s third quarter engagement with the media, which focused on the major achievements of the board.

From 2010 till date, the board has reduced the number of expatriates in the Nigerian petroleum industry by 80 per cent.

“ Nigerians now occupy key positions and deliver critical services in the industry,’’ he said.

The executive secretary said that before the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, oil welding activities were done outside Nigeria because of lack of world-class welding facilities.

Today, we are fabricating about 60,000 metric tonnes per annum in Nigeria, which never existed before.

“We have about five world-class welding yards as we speak today. These welding facilities can compete with any of their peers outside the country.

“Today, 95 per cent of service companies in the oil and gas sector, be it onshore and swamp drilling activities, well intervention facilities, well simulation activities and others, are being done by Nigerians.

“These used to be the exclusive preserve of multinational companies like Schlumberger, Haliburton and others; but Nigerians have taken all those responsibilities in the land and swamp areas, especially in the area of drilling,’’ he said.

On the operations of the upstream sector, Wabote noted that in the past, it was the multinationals that were operating all the existing fields.

He, however, said that Nigerians were now operating those fields which accounted for between 25 percent and 30 percent of oil production in the country, aside domestic gas production.

The executive secretary also said that margin fields were currently being produced by Nigerian companies, adding molecules to oil production.
(NAN)

Wednesday, August 7, 2019

Nigeria, US To Mobilise $300m For Agribusiness

Nigeria, US To Mobilise $300m For Agribusiness

Nigeria, US to mobilise $300m for agribusiness
Represented by Andrew Kwasari, Senior Policy Adviser in the Office of the Vice President, Osinbajo noted that “the synergy between the US, the Federal Government and the states is a way for the future.”

The USAID Contractor of the FTF Nigeria Agribusiness Investment Activity, Adam Saffer, explained that Nigeria had tremendous opportunity to take advantage of the arable land in the country, abundant water, human resources, fertile soil and many other things that should make Nigeria not only self-sufficient but also the food basket of the region.

He said, “FTF Activity in order to help Nigeria reach the target is working with financial institutions, investors, agro data, processors and other businesses and producers to create a more enabling environment to attract those finances and investors.”

“With a more efficient agribusiness sector, food generation, better income and more inclusiveness of women and youth, we can end up with a better quality food at a lower price.  Our activity is trying to activate $300m from the investors, from the banks and from the finance institutions to make this happen.”

US Ambassador to Nigeria, Stuart Symington, said the US government would work with  Nigeria to improve the ease of doing business in the agriculture sector, mitigate the risks to lending institutions and promote investment opportunities for agribusiness to expand and scale up their operations.

Kebbi State Governor, Atiku Bagudu, told reporters that Kebbi was doing a number of things to key into the programme to unlock the agricultural potential of the state.

“In the last five years, we have recorded significant improvement in yields in many commodities particularly rice where we have seen yields increasing from as little as one tonne per hectare to an average of five to six tonnes per hectare. We have similar increases in other crops like soya beans and millet,” he said.


Also speaking, Cross River State Governor, Ben Ayade, called on the US to assist Nigeria with the requisite technology to tackle some of the challenges associated with food production and preservation in the country.

The $15.7m Agribusiness Investment Programme aimed to facilitate the growth of existing private sector agribusinesses and work with producer organisations in the rice, maize, soybean, aquaculture, and cowpea value chains to increase Nigeria’s food security status and foster job creation opportunities.

Kaduna, Niger, Kebbi, Benue, Delta, Ebonyi and Cross River States are targeted under the initiative.
(Punch)

Thursday, July 25, 2019

National Security: FG Should Procure Additional Satellite – NISE

National Security: FG Should Procure Additional Satellite – NISE

The Nigerian Institute of Space Engineers (NISE) has called on the Federal Government to provide more earth observation satellites to aid national security and socio-economic development.
National Security: FG Should Procure Additional Satellite – NISE

Dr Sadiq Umar, the National Chairman of NISE made the call on Thursday in Abuja at the institute’s Third Annual Lecture held in honour of Brig.-Gen. Michael Agu (Rtd), the pioneer chairman of NISE.

FreshReporters News understood that the lecture focuses on “Remote Sensing Technology and National Security’’.

Umar said the President Muhammadu Buhari led administration is making progress securing lives and properties, but more could be achieved if the country leverage on satellite technology.

He said the available earth observation satellites were not sufficient in providing data for national security and economic development.

“For Nigeria to be where it needs to be, we need to have more satellites providing data that will help government address our security problems.

“Nigeria Sat 1 was designed and built in Surrey, South-East England in 2003 and the lifespan of a satellite is eight years maximum, therefore, we should be thinking of having its replacement.

“Till date, we don’t have a replacement for Sat 1, meaning that the satellite cannot provide data.

“The country should recognise the importance of space application, space technology which is important in boosting the economy in the areas of security, productivity, food security, among other issues.

“Currently, we only have Nigeria Sat 2 and Nigeria Sat X that can give data,” Umar said.

He said other satellites owned by the country were for communication and provision of bandwidth data, but not remote sensing data.

The NISE chairman said the institute and the Nigerian Society of Engineers (NSE) are working with the Federal Government to replace the almost outlived satellites before their expiration.

Mr Adekunle Mokuolu, President NSE recalled that President Muhammadu Buhari in his second term inaugural speech had said that “with good leadership Nigerians could be lifted from poverty’’.

Mokuolu urged the government to leverage on space satellite technology to achieve the goal adding that the country has the human capacity and expertise to develop the industry.

Prof. Joseph Akinyede, the Director Space Application Centre, Ile-Ife, who delivered a lecture at the event said Nigeria is facing security threat which could be addressed with advance technology. .

The director said that remote sensing has the capacity to address security threats, food insecurity, flood disaster, pipeline vandalism, others, if properly harnessed.

“The military also need remote sensing using satellite technology to fight the modern warfare and defend our porous territories.

“We can use satellite technology to map the pattern of groups, individuals that are threats to the nation and address them accordingly,’’ he said.

Dr Halilu Shaba,the Acting Director-General of the National Space Research and Development Agency (NASRDA) said the agency would work with relevant stakeholders to ensure national security.

Saturday, July 20, 2019

Cassava: Association Urges States To Prioritise Processing Plants

Cassava: Association Urges States To Prioritise Processing Plants

The Nigerian Cassava Growers Association (NCGA) has urged State governments to prioritise cassava production by providing processing plant and machines to boost national economy.

Mr Segun Adewumi, the National President of the association, made the appeal in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.

He said the availability of either the processing plant or machines would assist farmers to process cassava to its final production stage and ultimately help the country realise its inherent enormous potential.

Adewumi, who specifically noted that the nation had more than enough cassava farmlands, however, decried the absence of state of the art machines to process and derive other finished products from the commodity.

He said that such government’s assistance would eliminate post- harvest losses currently bedeviling farmers in the country.

According to him, cassava generates more income than oil if its potential are fully harnessed; the challenge is lack of government’s attention with regard to providing farmers with processing machines for improved and well packaged finished products.

He said some of the by-products or final products of cassava outside gari are starch, tapioca, ethanol, flour for different purposes among others.

NCGA’s president further identified cassava as the greatest industrial materials that provided companies with five major utility industrial products.

One of them is ethanol and ethanol can trigger industrial revolution because you can get more than 100 products from it,” he said.

Adewumi said that some of cassava products could be used by pharmaceutical companies and multi-national companies.

Nigeria is the highest producer of cassava; so we should be able to promote it to realise its full potential.

“So, if the government can create an enabling environment that will allow people to bring in and install machines that will mill our cassava into this products, our association will be able to contribute maximally to the economy.

“Government should pay attention to processing plant by collaborating with non-government organisations, financial institutions among others to ease and lessen the burden of farmers’ post-harvest losses,” he said.

Thursday, July 11, 2019

Textile Industries Have Potential To Create 2m Jobs – Emefiele

Textile Industries Have Potential To Create 2m Jobs – Emefiele

Textile industries have potential to create 2m jobs – Emefiele
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the Nigerian Cotton, Textile and Garment (CTG) sector holds huge potentials to create more than two million jobs and reduce 4.0 billion dollars import bill incurred annually on textile.

Emefiele said this at the meeting with the Service Chiefs and stakeholders from CTG industries on the present administration’s drive to revive the sector, in Abuja on Thursday.

He explained that the sector also had the capacity to transform Nigeria’s rural economy and revive the textile and garment industries by improving internal revenue across three tiers of government.

He said by achieving that, it would safeguard and earn foreign exchange and ultimately accelerate industrial development by making Nigeria a global player in the textile and apparel sectors.

“This event, therefore, symbolises our commitment to attain self-sufficiency in cotton production, to serve the Textile and Garment segments of the value chain with quality input,  as we target zero importation by the year 2020.

“I am pleased to inform you that I have been holding meetings with the Cotton, Textile and Garment (CTG) sector stakeholders toward reviving Nigeria’s textile sector.

“We analysed the huge potentials that exist in the sector, identified the challenges militating against the sector’s contribution to Nigeria’s growth and development and presented quick wins for reviving the sector.

“The CTG sector is however faced with some systemic challenges which has hampered and diminished its role as the leading employer of labour, thereby preventing its contribution to Nigeria’s GDP.

“In the 1970’s and early 1980’s, Nigeria was home to Africa’s largest textile industry, with over 180 textile mills in operation, which employed close to over 450,000 people and contributing over 25 per cent of the workforce in the manufacturing sector.

“Today, most of the factories have all stopped operations, as only 25 textile factories are operating today at below 20 per cent of their production capacities, and the workforce in Nigeria’s textile industry stands at less than 20,000 people,” he said.

The Central Bank Governor disclosed that their interaction with stakeholders revealed that MDAs had not made any significant order for uniforms or clothing materials from Nigerian textile manufacturers and garment companies.

He added that governments’ efforts at resuscitating the textile industry would not be actualised if they were not supported through local patronage among other incentives.

“As a first step, we flagged-off the 2019 Wet Season Cotton Input Distribution to 150,000 farmers in Katsina, Katsina State on May 6th, 2019 under the Anchor Borrowers’ Programme.

“These are cultivating over 180,000 hectares of cotton that will feed our ginneries and be used in the production of high quality textile for use by the armed forces and other uniformed service organisations.

“Production is also ongoing across 23 states of Nigeria with more to come onboard in the next planting season. We have also put in place necessary mechanisms to ensure use of high yielding varieties that will produce top quality fabrics and those that can compete in the international market” he added.

He said the bank observed that the local textile factories were carrying huge quantities of unsold stock while garment factories were idle due to lack of local patronage.

Emefiele expressed optimism that with the support and cooperation of the uniform organisations, this trend could be reversed.

(NAN)

Friday, July 5, 2019

SPARK Initiative: Firstbank To Empower 500 Widows

SPARK Initiative: Firstbank To Empower 500 Widows

First Bank of Nigeria Limited says it will scale up its empowerment of widows to 500 before the end of the year


SPARK Initiative: Firstbank To Empower 500 Widows
The bank, which provided funding to the widows to grow their micro-medium scale businesses, has empowered 125 widows as identified by the International Women Society (IWS).

Mrs Bashirat Odunewu, the Group Executive, International Banking Group (ITBG), said this at the 125 widows’ endowment empowerment programme in commemoration of FirstBank 125th Anniversary in Lagos,

She said the bank’s partnership with IWS was designed to further the empowerment of women, especially widows, as part of activities marking 2019 Corporate Responsibility and Sustainability Week (CR&S).

She stated that the CR&S week with the theme: ‘Ripples of Kindness; You First’ reflects the brand promise to always put its stakeholders first and is designed to offer employees and other stakeholder, opportunities to give their time and resources to defined causes.

Odunewu, who was represented at the event by the bank’s Business Development Manager (ITBG), Mr Kunle Olorunfemi, explained that as part of the bank’s employee giving and volunteering programme, the week focuses on wide range of activities under the SPARK (Start Performing Acts of Random Kindness) initiative.

According to her, it includes partnership with IWS for the empowerment of widows, as well as visit and donations to orphanage/less privileged homes, Internally Displaced Persons (IDPs) and deepening the values of SPARK amongst school children.

“A world without active collaboration amongst people, organisations, nations and regions is inconceivable.

“We are here because of our collective desire to pursue synergies that would generate progress for us and future generations. That is the focal piece of sustainability. I am, therefore, optimistic that this partnership will help drive sustainable development.

“At First Bank the partnership amongst people and stakeholders have sustained us for over 125 years. As you might be aware our impact traverses virtually every sector of the economy. This indeed resonates our 125 anniversary theme – ‘Woven into the Fabric of Society’

“Such partnerships have also provided the opportunity for us to help create an enabling platform for Small and Medium Enterprises to thrive and develop the national economy.

“The partnership with International Women Society is designed to advance social and economic impact by providing capital and capacity building for women running small businesses including widows.

“We believe that a committed, well-funded and well implemented partnership with International Women Society will enhance our goals as a responsible corporate citizen, which include focusing on empowering women and nation building.

“The partnership with IWS is also in line with the bank’s financial inclusion and women’s economic empowerment policy which promotes accessible and affordable financial products and services to disadvantaged groups with the goal of bringing these marginalised populations into the mainstream economy, improving their chances for resilient livelihoods and financial stability.

“In partnering with International Women Society, by providing opportunities for widows in areas of capacity building and access to start-up capital, the Bank advances social and economic impact,” he said.
(NAN)

Sunday, June 30, 2019

Vietnam, EU Sign Landmark Free Trade Deal

Vietnam, EU Sign Landmark Free Trade Deal

Vietnam, EU sign landmark free trade deal

The European Union signed a landmark free trade deal with Vietnam on Sunday, the first of its kind with a developing country in Asia.

The agreement, paving the way for tariff reductions on 99 per cen of goods between the bloc and the Southeast Asian country, the countries  announced the deal in a statement.

It still needs the approval of the European Parliament, which is not given as some lawmakers are concerned about Vietnam’s human rights record.

The European Union has described the EU Vietnam Free Trade Agreement (EVFTA) as “the most ambitious free trade agreement ever concluded with a developing country”.
































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Saturday, June 29, 2019

Enugu Government Bans IPMAN’s Activities

Enugu Government Bans IPMAN’s Activities

Enugu State government has placed a ban on the activities of the state chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN).
Enugu Government Bans IPMAN’s Activities

The Permanent Secretary, General Administration, Office of the Secretary to the State Government, Mrs Josephine Onyia disclosed this in a press statement made available to newsmen on Friday in Enugu.

Onyia said that the ban was with immediate effect and would last until the state government gave further notice.

She said that the decision followed the review of the protracted crisis that had engulfed the state chapter.

She said that the crisis had assumed frightening dimensions giving rise to cultism and banditry.

Onyia said that the state government would not stand aloof in the circumstances which had its attendant grave security implications in the state.

She said that a committee comprising the Department of Petroleum Resources (DPR), Nigeria Police, Nigerian Security and Civil Defence Corps would be constituted to take charge of the association.

She said that the committee would be in place pending when normalcy would return to the association.

“Members of the public are further reassured that the state government will as always live up to its responsibility of ensuring the security of lives and property within the state,” Onyia said.

The News Agency of Nigeria (NAN) reports that there has been alleged leadership tussle in the association by various factions of the group.

Thursday, June 27, 2019

Nigeria Needs Deep Ports To Attract Bigger Vessels –NSC Boss

Nigeria Needs Deep Ports To Attract Bigger Vessels –NSC Boss

Nigeria needs deep ports to attract bigger vessels –NSC boss
The Executive Secretary, Nigerian Shipper’s Council (NSC), Mr Hassan Bello, says Nigeria needs deep sea ports to attract bigger vessels and boost the economy.

Bello stated this at a One-day seminar organised by the council for members of Abuja Transport and Aviation Correspondents Association (ATACA) on Thursday in Abuja.

He said the Apapa and Tin Can ports were already over stretched to accommodate the number of cargoes that currently comes into the country.

According to him, the depth of Apapa port is about eight to nine metres which is not deep enough to accommodate large vessels.

He said if Nigeria could develop more deep sea ports, the country would become a hub in the West African sub-region.

“The Vice President has said that Nigeria will develop deep sea ports.

“The advantages are clear, Apapa and Tin Can are water ports, they don’t have the depth that others have.

“Apapa and Tin Can are nine meters deep, while in Togo we have ports with 15 meters because they are natural ports.

“In Apapa and Tin Can, you have to dredge almost all the time, you have to maintain a capital dredging so that you will have depth of about eight meters.

“And this means bigger ships cannot come and then the economic of scale means you will be serviced by less containers.

“But if you have deep sea ports, it’s a natural port, in Lekki we could go up to 15 meters.

“So Nigeria will be the hub, bigger ships will come with more containers to service other places and it can be a hub for other countries if we get our efficiency right,” he said.

Bello also said that Nigeria lost N9 billion dollars annually to foreign shipping lines because of absence of a viable flag carrier and indigenous shipping lines.

He said there was need to have a national carrier to avoid such huge capital flight or revenue loss to foreign shipping companies.

He added that employment creation was another advantage of having a national shipping line.

“If we do that, we are going to have that nine billion dollars that is coming to Nigeria’s economy, you can imagine the effect that it will have.

“We need to see ships flying Nigerian flag, so it is not rocket science, it is not re-inventing the wheel because this has happened, what we want is private sector participation.

“The private sector should lead the way and what the committee for the fleet implementation is doing, is to create investment climate so that investors can come and make it a worthwhile venture,” he said. (NAN)

Friday, June 21, 2019

Unemployed South Africans Turn To Coding For New Jobs

Unemployed South Africans Turn To Coding For New Jobs

Unemployed South Africans turn to coding for new jobs
Unemployed South Africans are turning to coding as the country is facing a severe shortage of computer skills leaving major sectors such as financial institutions struggling to recruit employees with critical skills.

Two thirds of the populations bulk aged between 15 and 34 are unemployed, creating a national crisis according to President Cyril Ramaphosa. Technology seems like the option to create more jobs as opposed to making it worse as usual-.

“I’d say coding is important because we are evolving in a technological world whereby, you get to build anything. So if you starting a business and you need a website you might pay a lot of money for a website. So if you know how to code, you can build your own website which will be less. It gives you a chance whereby you get jobs easier, you get hired easier because a lot of companies now are involving in technology because of the 4IR (Fourth Industrial Revolution),” said Skinny Shugo Kgwedi, Software programmer and Geekulcha community.


Unemployed South Africans are turning to coding as the country is facing a severe shortage of computer skills.

WeThinkCode_ academy in Johannesburg is training students with no qualifications or background to develop websites, programs and apps. The institution is working with donors most being big financial organizations that sponsor the students and later provide them with internship placements to train and get mentorship.  

It is election day in Mauritania this Saturday [The Morning Call]
“Well we’ve seen that if you’re able to successfully train one skilled developer, that impact that individual has is on 10 to 15 other individuals in that person’s environment because they’re creating employment, they’re bringing more efficiency into the workplace, they’re creating more profitable businesses enabling companies to employ even more people. So the impact that one skilled developer has is on 15 other individuals.

If we’re able to produce an extra 100,000 skilled developers across the country we have 1.5 million people that can be employed in the country,” said Yossi Hasson,Co-Founder, WeThinkCode.

Getting young South Africans to learn coding is hard; high data prices and with only four our of ten public schools have computer labs according to South African Institute of Race Relations.

Thursday, June 20, 2019

Breaking: Buharia Appoints Kyari New MD for NNPC

Breaking: Buharia Appoints Kyari New MD for NNPC

Breaking: Buhari appoints Kyari new GMD for NNPC
President Muhammadu Buhari has appointed Mr Mele Kolo Kyari as the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC).

The corporation disclosed this in a statement released by the  NNPC Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu,in Abuja, on Thursday.

He said that the appointment will take effect from July 8, 2019 adding that the president  also appointed alongside Kyari, seven new Chief Operating Officers.


Kyari, a geologist, was Group General Manager, Crude Oil Marketing Division of NNPC and also doubled, since 13th May, 2018, as Nigeria’s National Representative to the Organization of the Petroleum Exporting Countries, OPEC.



The statement noted that President Buhari had directed that the New GMD and the newly appointed Chief Operating Officers work with the current occupiers of the various offices till 7th July, 2019 towards a smooth transition on 8th July 2019 when their appointments would take effect to ensure a smooth transition.

However, the appointment of Mr. Farouk Garba Said (North West), who is replacing a retiring Chief Operating Officer, is effective from 28th June, 2019.

 Other officers appointed by Buahri include  Mr. Roland Onoriode Ewubare (South-South), Chief Operating Officer, Upstream, Engr. Mustapha Yinusa Yakubu (North Central) – Chief Operating Officer Refining and Petrochemicals and  Engr. Yusuf Usman (North East) – Chief Operating Officer, Gas and Power

Also, Ms Lawrencia Nwadiabuwa Ndupu (South East), Chief Operating Officer Ventures, Mr. Umar Isa Ajiya (North West), Chief Financial Officer,  Engr. Adeyemi Adetunji (South West), Chief Operating Officer, Downstream and  Mr. Farouk Garba Said (North West) – Chief Operating Officer, Corporate Services.

The NNPC Group Managing Director, Dr. Maikanti Baru, in the statement  had congratulated the new appointees.

 Kyari is a quintessential crude oil marketer with prerequisite certification and outfield pedigree in Petroleum Economics and crude oil and gas trading.

In the last 27 years he had traversed the entire value chain of the Petroleum Industry, with exceptional records of performance.

Under his watch, the Crude Oil Marketing Division has recorded noticeable transformation in the management and sales of the various Nigeria’s crude oil grades via an infusion of transparency and automation of the processes, the release by the NNPC spokesperson, stated.

Kyari would be the 19th Group Managing Director of the National Oil Company.
(NAN)

Monday, June 17, 2019

11 Ships With Petrol, Other Products Arrive Lagos Ports – Npa

11 Ships With Petrol, Other Products Arrive Lagos Ports – Npa


11 Ships With Petrol, Other Products Arrive Lagos Ports – Npa


Eleven ships conveying petrol and other commodities have berthed at the Apapa and Tin-Can Island Ports in Lagos, the Nigerian Ports Authority (NPA) announced on Monday.

The authority said in its daily publication, Shipping Position, that the vessels were waiting to berth with their consignments at the ports.

Eight of the 11 vessels are waiting to berth with petrol while three others will berth with diesel, container and frozen fish.

NPA said that no fewer than 23 ships were expected to berth in Lagos ports between June 17 and June 29.

It said that the 23 expected ships would sail in with general cargo, bulk salt, semi-trailers, bulk sugar, bulk fertiliser, steel products, buckwheat, petrol and container.

It said that eight ships were discharging gypsum, container, general cargo, buckwheat and frozen fish. (NAN)

Sunday, June 16, 2019

 IMF Ranks Nigeria World’s ‘second Worst’ In Use Of Sovereign Wealth Fund

IMF Ranks Nigeria World’s ‘second Worst’ In Use Of Sovereign Wealth Fund

According to the Fiscal Monitor report released on Wednesday and seen by TheCable, Qatar was the only country worse than Nigeria on the index.

Imf Ranks Nigeria World’s ‘second Worst’ In Use Of Sovereign Wealth Fund

The Bretton Wood institution said the index was compiled using the corporate governance and transparency scores of the sovereign wealth funds and the size of assets as a percentage of 2016 GDP of the countries considered.

The fund said it used data compiled by the Natural Resource Governance Institute and Worldwide Governance Indicators.

Imf Ranks Nigeria World’s ‘second Worst’ In Use Of Sovereign Wealth Fund

“It is critical to develop a strong institutional framework to manage these resources—including good management of the financial assets kept in sovereign wealth funds—and to ensure that proceeds are appropriately spent,” the report read.

“This remains a significant challenge in many resource-rich countries that, on average, have weaker institutions and higher corruption

“The governance challenges of commodity-rich countries— that is, the management of public assets— call for ensuring a high degree of transparency and accountability in the exploration of such resources.

“Countries should develop frameworks that limit discretion, given the high risk of abuse, and allow for heavy scrutiny.”

Explaining that sovereign wealth funds have to be transparent, the IMF advised that countries should ensure that the natural resources of countries should be channelled properly to the people that need them.

Of the 10 African countries considered, Ghana was ranked the highest.
(TheCable)