Naira Gains N126/$ In One Week Amid CBN’s Reforms In FX Market

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December 8, 2024

By Paul Effiong, Abuja

Deputy speaker of the House of Representatives, Hon. Benjamin Kalu has commended President Bola Tinubu for appointing pioneer members of the Board of the South East Development Commission, SEDC.

The Deputy Speaker in a statement yesterday signed by his Chief Press Secretary, Livinus Nwabughiogu, also commended President’Tinubu for his choices in the appointment, stating that the appointments aligned with his vision to reposition the South-East.

Kalu specifically congratulated the nominees, including the chairman of the board and former Minister of Labour and Productivity, Chief Emeka Wogu, executive director for finance, Hon. Stanley Ohajuruka, the executive director of projects, Hon. Toby Okechukwu, and another director, Dr. Clifford Ogbede.

He also commended the president for appointing the former minority leader of Abia State House of Assembly, Hon. Chijioke Chukwu, to the Board of North West Development Commission, NWDC.

He urged them to work diligently to realize the SEDC’s mandate and promote regional development.

Kalu played a crucial role in sponsoring the SEDC’s bill which aims at addressing the region’s infrastructural challenges, ecological problems, and environmental issues.

The Deputy Speaker’s appreciation ultimately reflects his commitment to the growth and progress of the South-East geo-political zone .

COAS Reassures Commitment To Tackle Security Challenges In North-West

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December 8, 2024

By Mariam Sanni

Chief of Army Staff, COAS, Lt.-Gen. Olufemi Oluyede has assured the army’s commitment to addressing security challenges by terrorists in the North-East and North-West regions.

Oluyede gave the assistance while speaking at the Theatre Command of North-East Operation Hadin Kai in Maiduguri, Borno State.

The COAS said the army was reviewing its strategies and intensifying efforts to ensure effective response to security threats nationwide.

“We have rephrased our strategies and are bringing in more platforms and resources to support the troops in their positions.

“This is to ensure they have the necessary tools to perform their duties effectively. That’s why I am here. And I think I have achieved that aim. So we are going to go back to Abuja, see how we can add more to their platforms, support them in their positions, and I am sure we will get better results”, he said.

The COAS noted that the army’s operations have yielded significant results across the country, with peace largely maintained in most regions.

However, he acknowledged the persistent issues in Zamfara and other parts of the North-West.

“Regarding Zamfara and the northwest in general, we are re-appraising operations in the region.

“We plan to deploy advanced technology and strengthen our approach to make things better. I will be visiting the northwest next week to oversee these efforts”, Oluyede said.

Highlighting the army’s proactive measures in addressing specific security threats, citing recent efforts in Sokoto State as an example, Oluyede said “when the issue of Lakurawa people in Sokoto came up, I visited to assess the situation and significant progress has been made”.

Group Seeks Constitutional Law To Promote Property Right For Women

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December 8, 2024

Mariam Sanni

A Non- Governmental Organizations, NGO known as ACE charity has called for constitutional laws, such as Land Reform Act, to promote property ownership for women.

The Senior Monitoring and Evaluation Officer at ACE Charity, Vivian Ejike made this suggestion in an interview with pressmen at the round table discussion themed,”Transforming the Business Landscape For Rural Women through Inclusive Economic Development,” held in Abuja.

She explained that women face barriers such as inequality and limited access to resources, including land.

Ejike added that cultural and religious settings often confine women to household duties, limiting their economic participation.

She discussed the role of government policies in promoting women’s economic participation.

According to her. communities need to legislate property rights for women to ensure equal access to resources.

She stated that representation of women in political positions is crucial to address women’s economic challenges effectively.

“The House of Representative have what it takes to pass some laws that can actually alter the fate of women in a positive way.For instance, land reforms. I don’t know if there’s a Land Reform Act, but that’s something that we can actually do, or the government can take up, to be able to create laws that promote the property ownership of women.

“ I think there are some laws that are against property ownership, and so we need the government to be able to set laws in place that women can hold, both at different levels.So we also need these communities where they are to be able to give property rights to women.

“So we need it to be legislated, passed into law that women can own lands, women can own properties, women can have equal access to resources to women. So we do believe that if it is something that the government can actually pass into law, then it will also help women to be able to benefit more in the economic participation.

“Also, I think it is necessary for women to be better represented in politics, not just for participation, but also representation, because sometimes the men can only partially give information about what women are going through but if there are women representing us at the helm of affairs, they can say for sure what the problem is when it comes to women accessing economic opportunities,”she said

Ejike while discussing the organisation economic program called “Women Microcredit Program” which was aimed at economically empowering rural women in Nigeria, explained that program provides interest-free loans to women entrepreneurs, with 75% of rural women and 80% of food producers being female.

According to her , ACE Charity addresses economic issues through digital training, financial management education, and formal banking access, leading to a high savings rate among participants.

She added that over 500 women have directly benefited, with 2,000 indirect beneficiaries, and the program aims to expand its reach.

Ejike stated that the program started in 2021 is to address the critical issue of access to finance for rural women.

According to her, the government should ensure gender mainstreaming in in state budget.

“The core of the program is the women microcredit project, providing small, interest-free loans to rural women entrepreneurs. The program aims to engage various sectors, including policy makers, GBV survivors, and other women-focused programs to foster inclusive conversations,” she noted.

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Ogun Emerges Best Overall Performing State In ICT

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December 8, 2024

Ogun State has emerged “Best Overall Performing State in Digital Technology Development”.

This is the result of the collaborations between the State Government and Information and Communication Technology ,ICT, professionals, as well as startups, towards advancing the digital economy.

Previously, the State had received several awards in the sector, including the Most Digitally Compliant State in 2023 by the National Information Technology Development Agency ,NITDA, and Best State in e-Governance Implementation Category by the National Council on Communications & Digital Economy ,NCCDE, just to mention a few.

Speaking while presenting the award at the 12th Regular Meeting of the National Council on Communications, Innovation and Digital Economy ,NCCIDE, held in Makurdi, Benue State, Governor Hyacinth Lormem Alia commended Prince Dapo Abiodun’s administration in digitalization and tech entrepreneurship, which has positioned the state as the best among other states.

He noted that the award was a testament to the visionary leadership of Governor Abiodun and called for more synergy between ICT professionals and governments at all levels to enable the country to attain a maximal level in information technology.

Receiving the award on behalf of the Ogun State government, Special Adviser on ICT, Dayo Abiodun, attributed the feat to the digital initiatives of Governor Abiodun towards digitalizing the state through various training programs for the citizenry, especially the youth.

The Special Adviser, who was represented by a Program Analyst from the Ogun State Bureau of Information Technology ,BIT, Ridwan Odufowora, stated that the award would spur the state government to show more commitment towards harnessing the prospects of emerging digital innovations for the development of the state.

The Council Meeting was an annual event aimed at strategizing on advancements in communications, fostering innovations, and promoting growth in the digital economy.

In attendance were all the states of the federation, as they showcased their achievements in the digital economy.

Our Target Is Funding Recurrent Expenditure With IGR – Oyebanji

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December 8, 2024

…Inaugurates Ikole area tax office

Ekiti State Governor, Mr. Biodun Oyebanji has reiterated the commitment of his administration to strengthening the revenue generation capacity of the state to enable it fund the recurrent expenditure through internally generated revenue without inflicting pains on the citizens.

Governor Oyebanji, who stated this in Ikole Ekiti on Saturday while Inaugurating the new Ekiti State Internal revenue Service Area Tax Office in Ikole -Ekiti, said his government is committed to building a self-sustaining economy where the state can fund its recurrent expenditure without over-reliance on federal allocation.

The new tax office, according to him is a step towards achieving the goal of making the state less dependent on federal allocation.

The Governor described the opening of the new tax office as a strategic initiative to decentralize revenue collection and ensure efficiency in tax administration.

Emphasizing the importance of IGR as a sustainable source of funding government operations, particularly in the face of dwindling federal allocation, Governor Oyebanji explained that he has been able to fulfill almost all his campaign promises because of the remarkable increase in the state IGR.

While commending the State Internal Revenue Service for its effort in increasing the state’s revenue base, the Governor urged the agency to intensify its sensitization campaigns to educate residents that payment of tax is their civic duty.

He added that the funds generated will be used to provide critical infrastructure and improve the standard of living in the state.

“Our target by the grace of God is that we should be able to fund out recurrent from IGR, that’s the target. We should be able to pay workers’ salaries from IGR, if we are able to fund our recurrent with IGR whatever comes from FAAC we can use for development, that’s the target and it is doable and am happy that the little you are paying, you call all see what we are doing with it in the state”

“when I was coming, I was asking myself that of all the campaign promises we made to our people which one have I done and I was happy within myself answering the question myself because I discovered we have done a lot to the glory of God. We have been able to activate those promises” either in education, agric, health, infrastructure, governance, and human capital development”. The Governor asserted

Earlier in his opening remarks, the Chairman of the State Internal Revenue Service, Mr Olutona Olaniran, commended the Governor for his dedication to utilizing public funds effectively, which has now fostered trust and compliance among tax payers.

He noted that the various ongoing developmental projects across the state have made it easier to convince residents to pay their taxes, as they can visibly see the impact of their contributions.

While calling the people to put more efforts at embracing their civic duty by paying their taxes promptly and regularly, the EKIRS Chairman emphasized that a prosperous and self-reliant state depends on the collective responsibility of its citizens.

Also at the event were, Commissioner of Information, Rt Hon Taiwo Olatunbosun, Commissioner for Agric, Mr Ebenezer Boluwade, DG Bureau of Public Procure, James Foloruneo, Special Adviser Media, Mr Yinka Oyebode, Special Adviser on Special Education and Social Inclusion, Mrs Adetoun Agboola; Director General Bureau of Assets Management , Chairman Ikole LG, Hon Omobola Bayo, among others.

Gunners Drop Points in Title Chase After Late Disallowed Goal

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December 8, 2024

Fulham and Arsenal won a point apiece in this match at Craven Cottage, but despite coming from behind to draw away from home, it will be Arsenal that will be most disappointed to have not come away with all three.

Mikel Arteta’s side dominated possession throughout the game (69%), and after a first-half that saw them attempt just one shot, they had all the chances in the second period. Arsenal had seven shots after half-time, while Fulham sat back and could only muster one shot and one touch in the Gunners’ box.

Raúl Jiménez opened the scoring against the run of play in the 11th minute. His shot was just Fulham’s second touch inside the Arsenal half, but hit the back of the net past the outstretched hand of David Raya.

The strike was Jiménez’s fifth of the Premier League season and 52nd in the competition across history – only Javier Hernández has more among Mexican players (53).

Seven minutes into the second half, Arsenal scored from yet another corner. Declan Rice’s wicked inswinging set-piece found the head of an unmarked Kai Havertz at the back post, who headed down onto the foot of William Saliba to tap home from a few yards out.

Saliba’s strike came four days after he had the final touch on another Arsenal corner goal versus Manchester United in midweek. Overall, it was the 36th goal that the Gunners have scored following corners since the start of 2022-23 in the Premier League, 10 more than any other side.

Arsenal thought they’d won all three points in the 88th minute when Bukayo Saka headed in from close range, but the VAR deemed that assister Gabriel Martinelli was offside before receiving the ball out wide.

With that goal ruled out, it means that Arsenal have only come back to win one of their last 24 Premier League away games under Arteta when they’ve trailed at half time (D5 L18), with that only victory coming at Aston Villa in February 2023 (4-2)

Calabar Agog As Senator John Enoh hosts Second Edition of the Renewed Hope and People National Tennis Open, in Calabar

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December 8, 2024

Joel Ajayi

The Honourable Minister of State for Industry who once served Nigeria as the 36th Minister of Sports , hosted players from across Nigeria for days , to the second edition of the Renewed Hope and People First National Tennis Open,Calabar 2024 .
The finals took place on the 7th of December on the hard court of the Calabar Sports Club 1898.

Nubari and Rebecca stole the show at the finals of the tournament after pipping their opponents Aliyah Precious and Timiprie Maxwell ,to walk home with cash prizes,gifts and trophies.

With an electric crowd cheering the players’ concerted efforts as hard hitters,who display wonderful backhand with utmost precision, playing very calculated games with their hands while talking with their racquets.

The thrilling encounter is annually staged to promote the growth and development of tennis in Cross River State and Nigeria as a whole .
The focus is for players in the state to have the needed exposure to excell in the sports of tennis while fostering the spirit of unity and sportsmanship amongst Nigerians and sports lovers.

The Chief Host of the tournament ,Senator John Owan Enoh, who served Nigeria as the 36th Sports Minister and currently the Honourable Minister of State for Industry, FIMTI, made it clear, that although he was no longer Sports Minister, he will continue to support the growth and development of Tennis and football in Cross River State his home state.
He said:
‘I will continue to give young Cross Riverians who show excellence and hard work, the platform to excel right to the Zenith of tennis and football.”

Senator John Enoh committed to increasing the prize money through every edition of the tournament ,and challenged players in the state to make it to the finals.

The Minister further announced his plan for a football talent hunt across Cross River State early in 2025. He stated that early exposure is good for football talents.
To buttress his commitment, he said:
” This is a clarion call to Cross Riverians ,that there is an opportunity and early support for those who show seriousness to excell in tennis and football.
I am ready and willing to give the needed support .”

In addition, the Minister of State for Industry appreciated the efforts of His Excellency Prince Bassey Edet Otu ,the Executive Governor of Cross River State for his passion towards sports development in the state ,such that he embraced the tournament into the grand annual Calabar Festival. The Minister also acknowledged the enthusiasm of the Sports Commissioner Hon. Agnes Atsu, noting that the performance of Team Cross River at the 8th edition of the National Youth Games in Asaba ,Delta State,showed great improvement from their previous performance, and this speaks monumentally of the efforts put in by the leadership of the state.

The Chief Host and Minister of State for Industry, Senator John Owan Enoh told newsmen that sports is integral in promoting national unity and development .

The second edition of the tennis tournament saw an array of dexterous and ranked tennis players in Nigeria.Female Nigeria no.7 Rebecca Ekpenyong, no. 11, Timiprie Maxwell and Amarachi Odoh ,Nigeria no. 24. Others include Aliya Precious, Universal Tennis Ranking U14, U16 Champion Bayelsa State and John Nubari who emerged winner was one time U16 champion Rivers State.

Senator John Enoh donated Tennis equipments for the continuous training of young tennis talents in Cross River State , sponsorship to other National tournaments for Charles Olom and Theresa Otu of CRS,for their maximum sports exposure .

High point of the day was the presentation of cash prizes,gifts and trophies to players ,not forgetting the presentation of awards of honour to the outstanding coach of the tournament, Ekpenyong Peter Effiong and the Honourable Minister of State for Industry, in recognition of his continuous support towards the growth and development of tennis in Cross River State and Nigeria.

Minister Calls for Collaborative efforts Among Stakeholders to Build a Robust Industrial Sector For Nigeria

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December 8, 2024

Joel Ajayi

The Honourable Minister of State Industry, Federal Ministry of Industry, Trade and Investment (FMITI), Senator John Owan Enoh has called for collaboration between Government and the Organized Private Sector (OPS) to build an industrialized nation. The Minister made this call during a Town Hall meeting organized by OPS on Wednesday, December 3, 2024, at Mariotte Hotel, GRA Ikeja Lagos, Lagos State, to address the overwhelming challenges bedeviling the growth of the Nigerian Industrial sector.

Speaking during the meeting, the Hon. Minister noted that the manufacturing sector of every nation is critical to the progress in the nation’s economic drive.

He said that no country can move from developing to being a developed country without a turnaround of its industrial sector. The Minister stressed the need for synergy between all relevant stakeholders to ensure sustainable development in the nation’s manufacturing sector.

The Minister listed collaboration/partnership, accountability and transparency as key factors to what he described as ‘movement for a better nation’. He noted that there was the need for an inter-ministerial collaborative effort to achieve the national goal. According to him, “involving the Raw Materials Research and Development Council (RMRDC), an office of government, under the Federal Ministry of Innovation, Science and Technology (FMIST), is very important, as the Council play a crucial role in Nigeria’s industrialization processes”.

Senator Enoh therefore prescribed for the formation of an Industrial Revolution Work Group with multi stakeholder participation that will identify existing challenges in the manufacturing sector, with the aim of providing possible solutions to them. He said the Multi-Stakeholder Group will comprise of stakeholders in FMITI, Ministry of Solid Minerals, Ministry of Agriculture, the RMRDC and the OPS which is made up of MAN, NASME, NECA and the Nigerian Association of Small Scale Industrialists with him as Chairman and DG Manufactuers Association of Nigeria (MAN) as co-chairman, and the Group will meet quarterly to evaluate progress made as they advance in pursuit of the agenda.

In His goodwill message, the Director General and Chief Executive Officer of the RMRDC, Prof. Nnanyelugo Ike-Muonso congratulated the Hon. Minister for Industry, FMITI, for his new appointment. He appreciated the Ministers’ doggedness to industrial growth and development, despite the unprecedented challenges. The DG eulogized the various initiatives by the Hon. Minister to emancipate the nation from what has been described as colonial perpetuity and economic dominance. Prof. Ike-Muonso pledged his unrelenting commitment and support to the movement to national self-reliance and economic independence.

The DG pointed out some significant strides of the RMRDC to advancing the manufacturing sector and urged all stakeholder to show their support, He said with these effectively put in place, the sector will experience a turnaround; One of such is sponsoring of the Raw Material Protection Bill which has been presented to the National Assembly to promote 30% value addition to indigenous raw materials resources before export. He said the legislative Bill, when passed, will protect Nigeria’s natural resources and catalyze domestic processing capabilities, thereby reduce the challenges faced by local manufacturers.

According to the DG, another is the launch of the Raw Materials Information System (RMIS), a comprehensive central database to monitor material flows and support industrial planning; an instrument that provides access to national data on all aspects of raw materials; from deposits, distribution, location, quality, quantity and even security around such raw material resources, and much more. “The RMIS would enable comprehensive tracking and management of raw materials, fostering strategic industrial development”, he added.

Earlier at the meeting, The Chairman OPS and President MAN Otunba Francis Meshioye and the Director General of MAN Mr. Segun Ajayi-Kadir gave an overview of the industrial sector, with emphasis on the prospects and challenges of the manufacturing sector.

In his presentation, the Mr. Segun Ajayi-Kadir revealed that at 46.5% of industrial output, the manufacturing sector remains the leading contributor to the industrial sector.

He said no economy has developed without the formidable role of manufacturing. “If prioritized, the sector can generate a minimum of $6.72billion of foreign exchange and contribute over 80% of non-oil export”, he added. He stated that despite the inherent challenges facing indigenous manufacturing, Nigeria’s industrial value added $118.22 billion in 2023, ranking second in Africa, with the manufacturing sector accounting for $55.74 billion.

The DGMAN now went further to make several recommendations to revitalizing the manufacturing sector among which are: that the National Assembly pass the bill on Fiscal policy and tax reform; The federal government should enforce compliance with existing standards on imported goods; Federal government should provide adequate support for innovation in local production processes: The Federal government should intensify its efforts toward upscaling raw materials development and utilization: etc.

60th Anniversary: NYCN Tasks FG On Youth- Friendly Policies As Shettima Reveals Tinubu’s Plans For Youth

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December 8, 2024