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

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)