NEWS AGENCY OF NIGERIA
Association seeks review of 2024 Hajj operations

Association seeks review of 2024 Hajj operations

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By Salisu Sani-Idris

Association for Hajj and Umrah Operators of Nigeria (AHOUN) has called on the Federal Government to set up an inter-ministerial panel to review 2024 Hajj operations.

Its National President, Alhaji Abdulateef Ekundayo, made the call at a news conference in Makkah, on the outcome of the just concluded 2024 Hajj.

” We call on the Federal Government to, as a matter of urgency, set up an inter-ministerial and credible panel to review this year’s Hajj, with the aim of restoring sanity into future operations.”

Ekundayo also emphasised the need for government to investigate the laws and acts that regulate Hajj affairs in the country.

” We implore those saddled with such responsibilities to
act now to safeguard Nigerian pilgrims.”

He decried poor services at tent A, saying “like the previous years, tent A was characterized by lack of transparency, racketeering, profiteering and poor organisation.

“Some of us paid double camp fees for camp at zone five and zone one on a single pilgrim.

“Apart from the exorbitant amounts for basic services, many pilgrims couldn’t have access to the services.

“This is the peak of any contractual breach, and we demand immediate reconciliation and payment of refund to affected members by the management of Ithra Alkhair (service provider).

“The Mutawwif (Ithra Alkhair) should immediately reconcile with our members to refund money paid for services not rendered both in Muna and Arafat for this year because of their actions and inactions.”

He urged the National Hajj Commission (NAHCON) to stop all charges on
members of the association, including the dollar equivalent service fees based on the new policy of government withdrawal of subsidy on Hajj.

” While we agree that NAHCON has the right to charge licencing fees, we believe the Hajj licence is the most expensive of any licencing regime in Nigeria.

“How can anyone justify a fee of N1 million for a licence that has only two months validity.

“ What happened to the component of the international pilgrims out of the N90 billion approved Hajj subsidy. Aren’t they Nigerians?.

“Our members deserve the right for official visa during Hajj because the Ministry of Hajj provides such as a percentage of the total allocation to Nigeria.

“Some of the problems our pilgrims face during Hajj can be easily addressed by us if we can move freely.” (NAN)(www.nannews.ng)

Edited by Hadiza Mohammed-Aliyu

NGO seeks more blood donors to save lives

NGO seeks more blood donors to save lives

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Blood
By Sarafina Christopher and Eletta Mercy
Jela Development Initiative (JDI), an NGO, has appealed to the public to donate blood to address the shortage of blood supply in hospitals and healthcare facilities nationwide.

The NGO made the appeal during a blood drive on Saturday in Abuja.

The blood drive, in collaboration with the National Blood Service Commission (NBSC) and Rotary Club of Abuja is themed “Be a hero, donate blood and save lives.”

The Chief Executive Officer of the NGO, Mrs Angela Omeiza, stressed the importance of providing blood donations to aid patients in life-threatening conditions.

Omeiza, represented by the NGO’s Programme Assistant, Ms Oluchi Ihezie, said that blood donation is a noble and selfless act that impact on people’s lives.

“The organisation is dedicated to promoting voluntary blood donations, recognising the challenges many face in accessing blood due to its high cost.”

Omeiza further stated that there was a surging demand for blood not only within the nation but also across the continent and globally.

“Patients requiring blood, such as those grappling with severe illnesses like cancer or undergoing intensive medical treatments, heavily rely on blood transfusions for their survival.”

Also, Mrs Omotayo Ottun, Donor Recruiter NBSC, pointed out that blood donors not only contribute to a life-saving cause but also benefit from comprehensive medical check-ups prior to donation.

“The main targets of the donation are the excess blood in your system, which the body is not using, a sachet of that blood after every three months for men and four months for women can save three people’s lives.

“Donations also help to produce new red blood cells making it more active in your system, it helps burn calories and also regulates the heart effectively,” Ottun said.

Mr Theophilus Apeh, representing the Rotary Club of Abuja Federal, commended blood donors for their invaluable contributions to the humanitarian endeavour.

Apeh also urged the relevant authorities to ensure that donated blood reached patients in need without imposing any financial burdens.

The News Agency of Nigeria (NAN) reports that an anonymous first-time blood donor shared her experience in partaking in the noble cause and overcoming initial apprehensions surrounding blood donation.

She also expressed appreciation for the rigorous screening procedures carried out to ensure donor eligibility and blood safety.(NAN) (www.nannews.com.ng)

Edited by Abiemwense Moru

Eid el-Kabir: Foundation, UAE distribute meat to women, vulnerable in FCT

Eid el-Kabir: Foundation, UAE distribute meat to women, vulnerable in FCT

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By Salisu Sani-Idris

Helpline Social Support Initiative, an NGO, in partnership with the United Arab Emirates (UAE) Embassy in Nigeria, shared meat during the Eid el-Kabir to women, vulnerable groups and persons living with disabilities in the FCT.

Dr Jumai Ahmadu, Founder of the initiative, who made this known on Wednesday, thanked the UAE Embassy for its kindness and dedication to making a positive impact in the FCT.

Ahmadu said that the gesture demonstrates the embassy’s commitment to community support through the spreading of joy and compassion to those in need.

She also commended the embassy for identifying with the initiative, saying ” this is the third year it is supporting the needy in Abuja and its environs with this gesture.”

” Their generous contribution of fresh meat donations benefited our women and individuals living with disabilities, spreading joy and compassion to those in need.

” This marks the third consecutive year of their support, which has made a significant difference in the lives of our beneficiaries, including the Internally Displaced Persons (IDPs).

” We are grateful for their kindness and dedication to making a positive impact in our community.

” Thank you to the UAE Embassy for your unwavering support and to our team for their tireless efforts in serving our community.”

She noted that Eid el Kabir was an opportunity and occasion to put smiles on the faces of the less privileged, especially women.

Ahmadu, therefore, called on other relevant organisations at all levels to go beyond “funfairs that characterised every festivities and use such occasions to assist the vulnerable in the society. (NAN)

Edited by Sadiya Hamza

Civil War: How Tinubu is rebuilding bombed southeast bridge

Civil War: How Tinubu is rebuilding bombed southeast bridge

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By Leonard Okachie, News Agency of Nigeria (NAN)

At the foot of the destroyed bridge is a monument which reads: “We remember you who died at this bridge that we may live. Rest In Peace (24th Dec. 1969).”

The bridge is on the Achingalli-Udo-Na-Obizi-Umunwanwa-Ubakala road. It connects parts of Imo and Abia. It took a hit during the Nigeria civil war and for 55 years has been in ruins.

While the construction of second Niger Bridge has huge headlines over the decades, the hardship suffered by the commuters on the Achingalli-Udo-Na-Obizi-Umunwanwa-Ubakala road has gone unreported.

Therefore, no government has taken any practical step to restore the road and reconstruct the damaged bridge.

The closest the people of the area have used 21-kilometre road was in June 2020, when the Federal Executive Council of then President Muhammadu Buhari awarded contract of N11.540 billion for its reconstruction.

The contract included construction of 120 metres bridge close to the destroyed facility across the Imo River in Imo. Since, then nothing concrete has been done.

However, since the inception of the President BolaTinubu’s administration, so much work has been done at the site and the people of the area are excited at the prospects of using the road again.

They also look forward to the contribution that the road would make in their socio-economic lives.

Eze Azubuine Obizie, the traditional ruler of Obizi in Ezinihite Mbaise Local Government Area of Imo, expressed happiness over the level of work done so far.

“We are pleased that the job is going on; we owe much gratitude to the then Minister of Works, Mr Babatunde Fashola, who saw the need to give the road and the bridge back.

“We are only praying and urging the government to continue so that the dividend of that project will be realised,” he said.

Eze Obizie also expressed gratitude to Mr Amanze Uchegbulam, an indigene of Obizi for his efforts towards rehabilitating the road.

Obizie observed that he and his counterpart from the neighbouring Umunwanwa in Abia, had in 2017 wrote a letter to Fashola on the need to rebuild the road.

Also, Eze Stephen Ihuoma, the traditional ruler of Umunwanwa, in Umuahia South Local Government Area, Abia, thanked Tinubu for carrying on with the project that was initiated by Buhari-led administration.

He said a site visit by Minister of Works, Mr David Umahi, was an indication of the president’s desire to complete the project.

According to Ihuoma when completed the road will make travel from Umuahia to Owerri easier.

However, the traditional ruler expressed concern over the slow pace of work at the Umunwanwa axis, and urged the government to put more effort.

He said: “The tarred section in Umunwanwa is not up to half kilometre and my people are suffering it because from the spot where they stopped work to the bridge head is bad.

“Without the intervention of the communities about three years ago that road would have been a different thing all together.

“My people are united in ensuring that the project is completed but I am appealing to the Federal Government to let my people feel the tarred portion of the road”, he told NAN.

Meanwhile, Mr Dennis Orji the consultant for the project and a former Director, Federal Ministry of Works, said erosion at Umunwanwa posed a major challenge to the project.

He said that the Federal Ministry of Works was considering an augmentation to be able to tackle the challenge.

As for the completion period, he said that it was difficult to determine when the project would be completed considering various potential challenges, including weather.

The consultant said that Imo and Abia belong to the rainforest and as a result not much would be achieved starting from May because of heavy rain.

He affirmed that the bridge construction was still going saying “we at the piling stage and once the bridge is done we will focus on the road.”

“But there is a remarkable progress and the Federal Government is trying because the road is being funded through Skukuk.

“Of course, governance is a continuum and luckily they are of All Progressives Congress party.

“I think if there must be progress there must be continuity, otherwise there will be so many abandoned projects.”

Ongoing construction of a new bridge at Imo River
Also, Eze Stephen Ihuoma, the Traditional Ruler of Umunwanwa, in Umuahia South Local Government Area, Abia, thanked Tinubu for carrying on with the project that was initiated by Buhari-led administration.
He said that the visit to the project site by the Minister of Works, David Umahi, was a clear indication of the president’s interest to see that the road was completed.
According to Eze Ihuoma, the road when completed will make travel from Umuahia to Owerri very simple and will ease trade between Imo and Abia.
However, the traditional ruler expressed concern over the slow pace of work at the Umunwanwa axis, and urged the government to put more effort.
He said: “The tarred section in Umunwanwa is not up to half kilometre and my people are suffering it heavily because from the spot they stopped work to the bridge head the road is bad.
“Without the intervention of the communities about three years ago that road would have been a different thing all together.
“My people are united in ensuring that the project is completed but I’m appealing to the Federal Government to let my people feel the tarred portion of the road.”
Meanwhile, the Consultant, Mr Dennis Orji, a former Director at the Federal Ministry of Works, admitted that the serious erosion problem at Umunwanwa was one of the challenges to the project.
He said that the Federal Ministry of Works was considering an augmentation to be able to tackle the challenge.
As for the completion period, he said that it was difficult to determine when contracts and projects would be completed in Nigeria considering the problems of funding and weather.
The consultant said that Imo and Abia belong to the rainforest and as a result not much would be achieved starting from this month(May).
He affirmed that the bridge construction was still going saying “we at the piling stage and once the bridge is done we will focus on the road.”
Orji continued; “But there is a remarkable progress and the Federal Government is trying because the road is being funded through Skukuk.
“Of course, governance is a continum and luckily they are of All Progressives Congress party.
“I think if there must be progress there must be continuity, otherwise there will be so many abandoned projects.”

Completed section of the road at Achingali
Rep. Emeka Chinedu, Member representing Ahiazu /Mbaise Ezinihite Federal Constituency at the House of Representatives, expressed happiness for the progress on the road.
He also thanked Tinubu for his efforts in sustaining the road as well as Fashola for his critical role in the award of the contract.

Chinedu recalled that the road was approved by 9th Assembly but was not funded in the budget.

He said that he and Chief Sam Onuigbo, former member representing Ikwuano/Umuahia North/Umuahia Federal Constituency in the House of Representatives also met Fashola to facilitate the project.

The lawmaker, who is the Chairman, House Committee on the Federal Character Territory, equally commended the Minister of Works, Mr David Umahi, for his commitment in ensuring that the road was completed.

“If you go on inspection there you will see the level of progress recorded.

“That road is so significant to Imo and Abia because it is a link road between the two neighbouring states.

“If it is completed there is going to be heavy trade relationship between the two states and that will bring a lot of economic benefits to the people,” he said.

Corroborating him, the ex-lawmaker, Onuigbo, said the completion of the bridge and the road would go a long way in enhancing the economic fortunes of the people.

Onuigbo, who represents South-East on the Board of the North-East Development Commission, said that it was important road that Tinubu administration was executing the project as part of his Renewed Hope agenda.

He said the government should be commended for taking up the project even when Tinubu did not get win South-East states in the 2023 general elections.

“Another reason for the commendation is that the bridge being reconstructed was one of the bridges destroyed during the 1967-1970 civil war.

“Therefore, continuing with this project without abandoning it is a sign that President Tinubu is focused on the overall development of Nigeria.

“I must also commend the minister, Umahi for visiting the site and working tirelessly to see that the project see the light of the day.”

Interestingly, Mr Amanze Uchegbulam, former First Vice President of Nigeria Football Federation also heaped praises on Tinubu and Fashola.

He said that he would eternally remain grateful to Fashola, whom he described as his friend and teammate at Eagle Club Surulere, for granting his request.

“I really thank the Federal Government because our people have suffered for over 50 years from 1969-2019, when nobody cared for us.

“My people are so happy for this project and they wanted to give me an award but I refused to take it.

“I told them that I would not take any award until the road was completed and we drive on it,” said Uchegbulam, a former Vice President of Confederation of Africa Football Appeal Committee.

A commercial motorcyclist, Mr Izuchulwu Ukuwa, who plies the road is excited that the project would completed soon and urged the government to step up its effort.

Ukuwa, the Youth Leader of Umuoke in Umunwanwa, said that the road was very significant because it links some states including Imo, Abia, Enugu.

“Our people are known for agriculture, especially cassava farming. If this road is completed it will help us in transporting our farm produce to the market.

“I’m very happy that the government has remembered us and I pray that it try its best to complete the project,” he said.

A commercial bus driver, Mr Valentine Chukwu, a native of Umuawada Onicha Mbaise, commended the government for committing to the project, especially the bridge.

“When I was younger, it was plank that was used to cover up that bridge.

We were always scared whenever my father carried me and my siblings through it on his motorcycle to take us in our primary school.

“So the fact that the government is now constructing the bridge gives me joy. When the road is completed it will help our people in their daily businesses,” Chukwu said. (NANFeatures) (www.nannews.ng)

**If used please credit the writer and News Agency of Nigeria.

Anniversary: Miyetti Allah hails Tinubu, demands commission for nomadic education

Anniversary: Miyetti Allah hails Tinubu, demands commission for nomadic education

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By Salisu Sani-Idris

Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) has commended President Bola Tinubu’s commitment to developing Nigeria’s infrastructure, agricultural sector and enhanced security since his assumption of office.

The National President of MACBAN, Alhaji Baba Othman-Ngelzarma, made the commendation in a congratulatory letter to Tinubu, which was made available to the News Agency of Nigeria (NAN)on Friday in Abuja.

” Congratulations to Mr President and Commander-In-Chief of the Federal Republic of Nigeria, Alhaji Bola Tinubu on your one year in office.

” On behalf of the over six million pastoral communities in Nigeria, the Chairman, Board of Trustees, the National Executive, Management and staff of MACBAN, I wish to congratulate you on your successful one year anniversary in office.

” Your one year in office, though tumultuous but stands you as a man of courage, conviction and vision with Renewed Hope to make Nigeria great.

” Your commitment to developing Nigeria’s infrastructure, agricultural development and enhanced security is a testimony that you are not only up to the task but to deliver dividends of democracy to the larger Nigerians populace.”

Othman-Ngelzarma noted that the Renewed Hope agenda on agriculture which intends to make Nigeria self-sufficient in its food security entails massive investment in both agronomy and livestock production.

” In view of this, MACBAN looks forward to your promise of creating a Ministry for Livestock to handle the N15 trillion Industry and its value chain.

” The industry stands to provide millions of quality jobs to Nigerian youth wallowing in unemployment and abject poverty which is a threat to National Cohesion and the security in the country.

” To achieve this objective, there is the need for immediate establishment and inauguration of the livestock implementation committee which you promised during the report presentation.”

Othman-Ngelzarma also appealed to Tinubu to allow for the stand-alone existence of the National Commission for Nomadic Education for the continued well-being of Nigerian nomads.

” We appreciate the efforts of security agencies in the country in combating crime but we express concern with the way and manner in which innocent pastoralists are being profiled and extorted.

” Yours Excellency, the hope you exude should be made a reality to strengthen the faith of ordinary Nigerians on your renewed hope agenda.

” We will continue to support you in your quest to strengthen institutional frameworks to make Nigeria and Nigerians the pride of Africa in innovation and productivity.” (NAN) (www.nannews.ng)

Edited by Bashir Rabe Mani

Rep. urges Tinubu to invest in manufacturing sector

Rep. urges Tinubu to invest in manufacturing sector

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By Femi Ogunshola

Rep. Emeka Idu (LP-Anambra) has urged President Bola Tinubu to invest in the manufacturing sector of the economy.

Idu, who represents Onitsha North/South Federal Constituency of Anambra State said this in Abuja on Thursday while speaking with newsmen following 25 years of unbroken democracy in the country.

He said the manufacturing sector has the capacity to produce different variety of products that could be exported.

He added that the sector would earn Nigeria foreign exchange, revive the nation’s economy and address security challenges.

He appealed to Tinubu to ensure implementation of economic policies that would transform Nigeria to productive nation to end the economic hardship in the country.

On the 25 years of unbroken democracy, Idu said that Nigeria had remained one indivisible entity and witnessed uninterrupted democracy from 1999 till date in spite of challenges.

The lawmaker expressed concern that after 25 years of democratic rule in Nigeria, the country still faced with security and economic challenges.

This, he said had compelled some individuals and private companies to leave the country to other countries that have conducive environment for businesses.

He said that provision of adequate security for Nigeria on long term basis and investment in the production sector were part of the ways that would revive the nation’s economy.

He added that this would engender confidence and trust for investors to start trooping in.

He expressed commitment to enacting laws and supporting policies that would improve the living standard of the people of Onitsha North/South Federal Constituency, South East and Nigeria in general. (NAN) www.nannews.ng

Edited by Ali-Baba Inuwa

Ist Anniversary: Experts predict bright future for capital market

Ist Anniversary: Experts predict bright future for capital market

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By Rukayat Adeyemi, News Agency of Nigeria (NAN)

As the Bola Tinubu-led administration clocks one year in office, some financial experts, while assessing the performance of the capital market, have commended the government’s efforts so far.

The News Agency of Nigeria (NAN) reports that Tinubu was sworn in as Nigeria’s President on May 29, 2023, succeeding President Muhammadu Buhari, having emerged winner of the 2023 presidential election.

In the trading week ended May 26, 2023, hours before Tinubu’s inauguration, the NGX All-Share Index and Market Capitalisation appreciated by 1.51 per cent to close at 52,973.88 points and N28.845 trillion respectively.

Equally, as at the close of trading on Monday, May 27, the NGX All-Share Index and Market Capitalisation stood at 97,863.34 and N55.359 trillion respectively.

Regulated by both the Nigerian Exchange Ltd.(NGX) and the Securities and Exchange Commission (SEC), the capital market is primarily a financial institution to raise capital to invest in new projects, expand operations, or pay off debt.

A financial expert, Mr David Adonri, described the Nigerian capital market as extremely profitable, liquid and a safe investment outlet under the administration.

He emphasised that progress in the market had been defined by a surging bull-rally in the secondary market for equities under the present leadership.

Andori, also the Vice Chairman of Highcap Securities, said that debt capital raising through the capital market enjoyed a sustained tempo under the Tinubu-led government.

He noted that almost all capital raising at the market were either through debt or equities by businesses.

“When this administration took office on May 29, 2023, the All-Share Index (ASI) of NGX, a metric for gauging performance of equities, was 52,973.88.

“Thereafter, it proceeded on a galloping race which took it to 102,401.88 on Jan. 26, thereby shattering previous records of growth.

” Following its overheating, the equities market is gradually experiencing a correction.”

He said the two major economic reforms of floating the Naira and removal of fuel subsidy embarked upon by Tinubu resonated well with the capital market.

Dissecting the situation, Adonri said that the new ceiling served as a boost to investors’ confidence and increased demand for equities, just as the debt market increased in vibrancy on spite of the increase in interest rates by the Monetary Authority to rein in inflation.

The stockbroker highlighted the public macro-economic policies, saying that “the capital market has been akin to a candle burning from both ends”.

“Consequently, for investors, the Nigerian capital market has been an extremely profitable, liquid and safe investment outlet in the past one year,”he added.

To him, if the fundamentals of the economy and the capital market become stronger, investors’ confidence will remain high.

The resolution of the crisis around trapped investors’ funds, according to the expert, is a vital ingredient to bringing back many disillusioned foreign investors to the market.

To further buttress experts’ position, Mr Tajudeen Olayinka, an Investment banker, said that the Nigerian capital market had really done well in the past one year.

Olayinka stated that, as a matter of fact, the market started showing a positive sign or bullish run, following the announcement of Tinubu as the winner of the 2023 presidential election.

“Let me also add that the market started showing positive signs in November 2022 when it was obvious that any of the three leading presidential candidates; Peter Obi, Atiku Abubakar and Bola Tinubu could succeed outgoing President Buhari.

This, from an analytical perspective, the reason being that the three leading candidates were known to be private sector activists, as against the outgoing President’s public sector orientation.

“So, the astronomical rise in the index we have today started with an uptick that predates the 2023 election proper,” the expert explained

When President Tinubu made those important pronouncements during his inaugural speech, the market quickly embraced him as a pro-market participant.

Some stock and market players have been confident to hail the performance indices which they claimed had recorded three times their values before the conduct of the 2023 presidential election.

They attributed this to the calibre of the presidential candidates as tactical market players.

During the period under examination, the market also recorded massive gains, enriching new investors that came to the market for the first time.

According to Olayinka, the government needs to strengthen all the institutions that provide direction to the market, including the Securities and Exchange Commission (SEC) the Central Bank of Nigeria (CBN), the Debt Management Office (DMO) and Federal Ministry of Finance.

The stockbroker viewed the recent appointment of a new board of SEC, as a positive reaction to improve institutional performance.

Mr Aruna Kebira, a stockbroker with Global View Capital Ltd., also submitted that the market, being information sensitive, was stagnated from the build-up to the 2023 general elections.

According to him, this is due to several factors because industry players were unsure of who would emerge winner at the 2023 presidential poll, hence the discordant the by investors.

He noted that after the emergence of Tinubu as president, the market was further enveloped with gloom as a result of the impending court cases and the possibility of judgment being passed in favour of the opposition.

According to him, the announcement of the removal of the fuel subsidy and that the inauguration of a president after the election took the stock market by storm.

Kebira explained that the Foreign Direct Investment
(FDIs) Pension Fund Administrators (PFAs) and the High Networth IndividuaIs (HNIs) which were hitherto on the sidelines, launched a full come-back to the market.

“It was believed that the incumbent has some good things up his sleeves.

“The fire in the market was further kindled when the erstwhile CBN governor, Godwin was arrested for an alleged misdemeanour during his tenure as Nigeria’s chief banker.

“The market began to enjoy its highest patronage when the rates in the money market were not encouraging enough vis-a-vis the sterling performances of the listed companies.

“Then came along the floating of the Naira that led to the banks declaring super loss and humongous profit.

“The ASI broke its set all-time high points of 68,000 in 2008 and established another all-time at 106,000 points,” he said.

According to him, stocks fared well in the capital market during this period, while the rates in the money were moderate.

The stockbroker, however, expressed disappointment that the dollar exchange jumped to N1,950 per dollar.

The resultant effect of this is food inflation, which has contributed to the rise in the general inflation led to the CBN’s hike in the Monetary Policy Rate (MPR) to control inflation.

This development, Kebira said, rebound to a better yield environment at the money market, hence, investors who were constantly in search of better yields, migrated from the capital market to the money market.

He said: “That frenzy of trying to cover one position at the market normally leads to sell-off pressure that would, in turn, depress stock prices and, by extension, the All-Share Index.

“The various information and policies of the government are anti-capital markets, and until we begin to see a decline in inflation rate, that would necessitate the CBN to review the MPR downwards, the capital market may be in limbo for a long while.

In addressing the present situation and further boosting and sustaining investors’ interest in the capital market, Kebira advised the Federal Government to provide a secure environment for farmers.

While expressing that the problem currently facing the country is that of demand and supply, the stockbroker, believed that once inflationary trends about food are checkmated with enough to go around, headline inflation will also be stemmed.

“By that, the CBN can review the MPR downwards, thereby discouraging investment in money market instruments, and consequently, the capital market can then be an investment destination for high yield-seeking investors,” he said.

Observers said that the Tinubu-led government, having started well with laudable policies, must aggressively work toward stemming inflation, exchange and interest rates to spur investment in the capital market vis-a-vis the country.

According to them, this is because the positive performance of the stock market as a primary barometer of economic health, both domestically and globally, is interconnected with the broader economic indicators. (NANfeatures)

Edited by Olawunmi Ashafa

***If used, please credit NAN and the writer***

Boosting tourism vital for economic growth, says industry stakeholders

Boosting tourism vital for economic growth, says industry stakeholders

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By Taiye Olayemi, News Agency of Nigeria (NAN)

On Aug. 16, 2023, President Bola Tinubu heeded the called by tourism industry stakeholders for the creation of a stand-alone Ministry of Tourism in the country, with the appointment of Lola Ade-John as the minister to spearhead affairs of the ministry.

The creation of the first-ever Ministry of Tourism was greeted by celebrations and jubilation among stakeholders across the nation.

One year into the present administration, some tourism practitioners while commending the government for the creation of the ministry, however, fault its budget allocation.

The ministry has an allocation of N11.06 billion in the 2024 budget, of which the sum of N3.96 billion is for recurrent expenditures while N7. 30 billion is for capital expenditure.

Ime Udo, National President, Nigeria Association of Tour Operators (NATOP), advised President Bola Tinubu to ensure a substantial budget allocation for the tourism industry to support large-scale capital projects, marketing initiatives and capacity building.

Udo said it was necessary for the government to revitalise the industry, which has been abandoned for a long.

“The allocated budget of N11.06 billion for the tourism ministry in 2024 is a meagre sum, considering the industry’s neglect over the years and the need to execute significant capital projects.

“Recurrent expenditures account for a substantial portion (N3.96 billion), leaving limited funds for capital projects (N7.30 billion).

“To revitalise the industry, a more substantial budget allocation is necessary to support initiatives like infrastructure development, marketing campaigns, and capacity building.

“I believe tourism as a whole needs a lot more investment and budget than what we currently have.

“Tourism marketing and promotion does not only benefit the sites, attractions or festivals but also the entire socio-economic landscape of the people,” she says.

Udo further advised that going forward, a comprehensive tourism master plan must be developed, outlining strategies for sustainable development, growth and investment in human capacity building, training tourism professionals, and enhancing service standards.

She harped on the need for tourism and hospitality practitioners to leverage technology for digital marketing and virtual tours to showcase Nigeria’s rich cultural and natural heritage.

For Ikechi Uko, a tourism consultant, the ministry is yet to receive its full support from the government.

“No office, no vehicles, no take-off grant, so, for now, we are waiting for the government to fund and support its new baby to help realise the full potential of the purpose of its creation.”

According to Gbenga Sunmonu, President, Nigerian Hotel and Catering Institute (NHCI), the tourism industry has not faired well in the last one year.

Sunmonu says this is a result of the low budget made available for the sector which cannot make any significant impact in the promotion of tourism.

“The budget allocation is abysmal. This is just a fragment compared to some MDAs in the country.

“To groom the industry, the government should approach a holistic strategy starting from increasing the budget through appropriation.

“The minister should be intentional to develop all year-round programmes along geo-political zones; involve the state commissioners and be ready to mass promote using all agencies of government,” he said.

Sunmonu advised the Federal Government to reinstate the Presidential Advisory Committee on Tourism and walk the talk.

“The tourism minister should minimise junketing across states and be purposeful in the visits to attract others to create wealth.

“Let the states make their respective tourism boards effective,” he says.

On his part, Nkereuwem Onung, National President of the Federation of Tourism Associations of Nigeria (FTAN), called for the release of a take-off grant for the new Ministry of Tourism.

“One of the bane of tourism development in Nigeria is lack of funding. Some state tourism budgets are higher than the federal tourism budget.

“I call on the federal government to release the take-off grant for the young ministry. We need a structured programme for the industry that will enable us to move on a predetermined trajectory.

Onung saaid going forward, the Key Performance Indicator (KPI) of the ministry should be made public while appropriate records of international arrivals, domestic tourism potential and delivery be made available to all.

According to him, this will aid the growth of the industry over time.

Tourism is one of the biggest economic activities in the world today. It involves the pursuit of recreation, relaxation, and pleasure while making use of the commercial provision of services.

The tourism industry with its enormous potential is capable of generating the needed employment opportunities for the teaming youth as well as engaging them in meaningful ventures.

Stakeholders said the industry, if well positioned, can successfully boost Nigeria’s foreign exchange earnings through the development of inbound and outbound tourism.

They said while the government should be committed to taking deliberate and giant steps in creating an enabling environment for tourism businesses to thrive by making available the needed infrastructures and basic amenities, the private practitioners are meant to consolidate on this to build an attractive and formidable industry, capable of contributing significantly to economic growth. (NANFeatures)

Edited by Folasade Adeniran

Group to launch Election AI tool to bridge election information gap

Group to launch Election AI tool to bridge election information gap

352 total views today

By Abdul Hassan

The Kimpact Development Initiative (KDI), an NGO, says it plans to launch an Artificial Intelligence (AI) tool, designed to bridge the electoral information gap among Nigerians, particularly youths.

Bukola Idowu, Executive Director, KDI, stated this in a statement on Tuesday in Abuja.

 “Over the years, citizens in Nigeria have been faced with the challenge of misinformation and disinformation in processing electoral data. 

“In a bid to bridge the electoral information gap in Nigeria, the KDI, with the support of the UK Foreign, Commonwealth and Development Office (FCDO) is elated to announce the development of her innovative Election Artificial Intelligence (AI) tool.

” It is designed to bridge the electoral information gap among citizens, particularly the youth.

“This innovation aims to empower electorates with accessible simplified, accurate, and comprehensive electoral information, advancing informed decision-making in the electoral process.

“The innovative Election AI tool, which is being developed by KDI’s Tech4Democracyteam, will serve as a reliable source of electoral information, offering simplified real-time data-driven information.”

He said that the launch would take place on June 13 in Abuja.

“By leveraging the power of AI, KDI is committed to providing a platform that ensures every citizen has access to accurate information to participate fully in electoral and democratic processes.

“The Election AI tool represents a significant leap forward in how citizens can understand the election framework from the Constitution, Electoral Act 2022, and INEC Election guidelines among several others.

 “The launch event will take place on June 13, in the Federal Capital Territory (FCT)Abuja, and will feature a live demonstration of the tool.

“KDI is committed to advancing democracy and civic engagement in Nigeria and envisions this Election AI platform will serve as an incentive for driving a positive change in electoral engagement and information dissemination.” (NAN)

Ali Baba-Inuwa

 

Okomu Oil seeks govt, stakeholders support amidst bandits attacks

Okomu Oil seeks govt, stakeholders support amidst bandits attacks

219 total views today

By Lucy Ogalue

The management of Okumu Oil Palm Company Plc. has urged Federal and State Governments to support the company in tackling the bandits whose activities are affecting the company’s operations.

They spoke in an interview with the News Agency of Nigeria (NAN) on Saturday in Abuja.

NAN reports that the multi-million naira company had threatened to shut down operations in Nigeria following a recent attack by militants on its staff on May 6.

One of the recent attacks led to the death of three of the company’s workers inside the plantation.

The company’s Managing Director, Graham Hefer, told NAN that insecurity posed one of the major challenges for the company.

“It is a very difficult task for the company because we are not a security outlet but rather deal in oil palm production.

“So we have to look to the government to assist us in this kind of situation, be it federal or state,

“We need the government to step in and to protect us because that is part of the provisions in the constitution to protect properties and lives.

“The Edo State government has done quite a lot to help us. These workers need to be protected to do their work,” he said.

He said the company was also making efforts to collaborate with the local community to ensure security.

Hefer said: “on our part, we are having a lot of discussions with the local community. They have also been attacked by the same youth. It is not just Okomu oil.

“So everybody is trying to work together to ensure that this does not happen again; we are taking a holistic approach.”

The managing director said that in addition to insecurity, the devaluation of the naira, lack of forex, and poor infrastructure, among other things, affected the company.

Hefer said some government policies and regulations, especially multiple taxation, were other obstacle facing the firm.

He expressed hope that the government would tackle these to make it easier for businesses to perform better and attract more foreign investors.

The managing director said there were no immediate plans to expand the company’s business unless its board decides otherwise.

“At the moment, we have a good market for what we are producing, and we are happy within that market; we feel we are comfortable with that.

“But if later on, my board decides to look into different things, we may, but right now, we are happy with where we are,” he said.

Hefer said rubber production was strategic in the firm’s operations because it is one its major sources foreign exchange earnings.

However, he decried some losses encountered in its production, which he said were also a result of insecurity.

“Last year, we also had attacks. The same people were attacking us last year, so we had to stop our rubber farming.

So we did not fulfil our obligations in terms of our commitment because we could not tap at that stage,” he said.

Hefer, who said the company was keen on quality products, said it was also part of a Compliance Certification Scheme such as the Roundtable on Sustainable Oil Palm (RSPO).

“We are with the European Union Deforestation Recertification (EUDR) and have all of these available. We are also certified ISO for our environment, so we are very cognizant of afforestation.

“Remember, being an agriculture company, it is critical that we keep our soil and environment safe because, without that, we do not have a company,” he said.

Also speaking, Mr Gbenga Oyebode, chairman of the company, reiterated the importance of tackling insecurity around the environs of the company’s plantation.

Oyebode said: “we will continue to do what we have to do, and we are working very hard to reduce this incidence of insecurity.”

On climate, he said the company’s activities had no negative effects on its environs, adding that they would continue to plan sustainably to drive their business. (NAN)

Edited by Uche Anunne

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