NEWS AGENCY OF NIGERIA
Politics

APC chieftain to Tinubu: Monitor N200bn MSMEs, manufacturer intervention fund

122 total views today

 

By Victor Adeoti

Mr Olatunbosun Oyintiloye, a Chieftain of All Progressives Congress (APC) has advised President Bola Tinubu to monitor the disbursement of the N200 billion Presidential Intervention Fund for Micro, Small and Medium Scale Enterprises and manufacturers.

Oyintiloye, while speaking with newsmen on Sunday in Osogbo, urged the president to set up a monitoring team to ensure that the intervention fund achieved its purpose.

The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, had announced the launch of the N200 billion Presidential Intervention Fund for Micro, Small and Medium Scale Enterprises and manufacturers.

According to Uzoka-Anite, N75 billion will be disbursed to MSMEs while another N75 billion will be distributed to the manufacturing industry under the Presidential Intervention Fund.

Oyintiloye noted that the fund must be protected from being siphoned into private pockets.

He, however, said that necessary strategies must be put in place to ensure that different intervention programmes by the president have positive impacts on the lives of Nigerians.

Oyintiloye commended the president for the launch of the intervention fund, noting that it would boost economic growth and industrial development at all levels.

The APC chieftain, who noted that MSMEs promote grassroots-level economy and creating multiplier effects on the overall economy, said that the presidential intervention fund for the sector was a right decision.

He said the intervention fund would afford the MSMEs, being the backbone of the economy, opportunity to create more jobs which would unlock full potential of the nation economy.

“MSMEs contribute over 45 per cent to the country’s gross domestic product (GDP) with 98.8 per cent of them in the micro cadre; they account for nearly 90 per cent of the jobs in the country.

“Therefore, as MSMEs grow, they create more jobs, contribute to GDP by producing goods and services for domestic consumption and export, which will lead to prosperity for more, and less insecurity across the country.

“By creating jobs, MSMEs help to reduce unemployment rates, promote innovation, stimulate economic growth and diversification, and that is the more reason we have to give it to the president for this initiative.

“It will in no small way boost the economy through creation of open new market because MSMEs are vital to the economic growth of any nation,” he said.

Oyintiloye, a former lawmaker said that the intervention fund would also boost the manufacturing industries in the country, adding that no modern economy could develop without a strong industrial base.

He said with viable manufacturing industries in the country, there would be high growth, productivity and competitiveness.

According to him, this will increase exports, enhance infrastructure, skill development, expand tax base and tax returns from both manufacturers and their workers which will in turn increase revenue generation.

Oyintiloye, a former member of the defunct APC Presidential Campaign Council (PCC), urged Nigerians to continue to support the president for the delivery of more dividends of democracy.

Edited by Tayo Ikujuni

Education

Access to good nutrition can help control crime, Don says

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By Ige Adekunle

A Don, Prof. Israel Afolabi on Saturday suggested that deliberate use of the dietary approach could help in crime control at the national and global levels.

Afolabi, who is of the Department of Biochemistry, Covenant University, Ota, gave the counsel while delivering the 31st Inaugural Lecture of the institution.

He said: “I believe that the level of crime will be reduced if the community is given adequate diet and nutrients, especially at the childhood level.

“The current insecurity crisis experienced in our nation may be attributed to poor access to good nutrition, as food and nutrients are programme software that drive the behaviour of humans in response to her community,” he said.

The professor of Nutritional Biochemistry & Phytomedicine, urged the Federal Government to establish a ministry of food processing which should be encouraged to use local research output by industries in Nigeria.

Afolabi said that providing tax incentives for these industries would also create market competition that may force the price of services down for the benefit of the citizens.

He also urged the Federal Government to further invest and reinvest in technological revolution to drive national development.

The don added that technological drive was imperative for national development, adding that such a drive would engage the minds of several youths to reduce crime.

According to him, proper education which inculcates critical thinking dynamics of youths and explores their knowledge gaps for practicable global competition is needed.

The don emphasised that universities and research institutes should be empowered through adequate funding to generate products and services for global competition.

In his welcome address, Prof. Abiodun Adebayo, the Vice-Chancellor of the institution, said that the 31st Inaugural Lecture was critical and timely to addressing fundamental human existence.

Adebayo said that the entire nation was grappling with acute hunger and nutritional deficiency, due to the incessant destruction of food production and distribution chains rising from armed banditry and numerous attacks on farmers, among others.

“It is time for the federal government to look inward and see how food could be made available to everyone, because a hungry man is an angry man,” he said.

The vice-chancellor assured that the institution would continue to strive hard to ensure that it promoted research that would advance food security in the country.

Adebayo also urged the federal government to continue to diversify the economy from oil to Agriculture to secure food security and tame the price of goods and services.

Edited by Oluyinka Fadare

Business

U.S. Consulate sponsors 100 youths for vocational, entrepreneurial training

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By Kazeem Akande

The United States Diplomatic Mission has sponsored 100 youths in Lagos for vocational and entrepreneurial training, aimed at boosting self-reliance.

U.S. Consul General in Lagos, Will Stevens, on Thursday in Lagos, commended the youths for their resilience and determination during the training, emphasising the importance of entrepreneurial skills in the green economy job market.

The News Agency of Nigeria (NAN) reports that the graduands were offered certificates after three months of training at the Field of Skills and Dreams (FSD) Vocational, Technical and Entrepreneurship Training Institute, Agege.

The theme of the event is: “Life Entrepreneurship Skills for Green Economy Job”.

“I know Nigerian citizens are focused, hardworking and unwilling to give up under any circumstances.

“It’s very rear to see a Nigerian with one job. They work so hard with entrepreneurial skills with credible potential.

“That’s why the U.S. Consulate is sponsoring the youths in solar energy installations and fashion designers,” Steven said.

According to him, the training focuses on helping and equipping the youth with the green economy.

The U.S. Consul General added that vocations and skill acquisitions were what the people needed to be able to succeed in the 21st century.

The most amazing thing in this programme is the incredible entrepreneurial experience of the students with their dedications in promoting themselves and their community.

“At the same time, seeing that all of them have been gainfully employed, which mean ‘graduating on Friday and starting a job on Monday’ that’s exactly why we are so proud as a consulate to support such programme.

“We are also determined to tackle the challenges facing Nigerians and showcase our commitments to partnering with Nigeria,” he added.

Miss Oluwabusolami Yusuf, in her remarks, thanked the U.S. Consulate for sponsoring the vocational training.

“This is a great opportunity giving to us to be empowered and trained in various entrepreneurial skills.

“I am sure the programme will go a long way in making the youth self-reliant in our various fields of training,” she said.

Mr Muhammed Ibrahim, who was trained in solar energy installations, thanked the consul for helping the grassroots youth to benefit in such quality training.

“I really appreciate our sponsor and the institution involved.

“In fact, I really gained a lot in the training because presently, I have submitted three proposals to different clients where I am expecting a positive response from them. (NAN)

Edited by Olawunmi Ashafa

 

 

Metro

NYCN backs full implementation of expatriate employment levy

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By Olatunde Ajayi

The Forum of the State Chairmen of the National Youth Council of Nigeria (NYCN) has urged President Bola Tinubu to ensure full implementation of the Expatriate Employment Levy (EEL).

The Chairman of the forum, Comrade Abdul-Quadri Abdul-Salam, made the appeal during a news conference on Tuesday in Ibadan.

Abdul-Salam said that EEL had the potential to expeditiously address both economic and security challenges facing the nation.

The News Agency of Nigeria (NAN) reports that EEL is a fee imposed on employers hiring expatriate staff in Nigeria. It serves to address specific socio-economic factors within the nation.

He said that recognising the escalating influx of foreign labour into the country, government deemed it necessary to introduce the EEL to balance economic expansion, social equity, and workforce enhancement.

According to him, EEL aims to regulate the employment of expatriates in Nigeria, while encouraging the recruitment and training of local talent, including young Nigerians.

“Imposing EEL will incentivise the hiring and development of Nigerian workers, thereby reducing dependence on foreign labour and fostering indigenous capacity building.

“While the EEL has garnered both acclaim and criticism, it remains a pivotal policy in nurturing local talent and fostering economic empowerment.

“NYCN Chairmen Forum wholeheartedly supports the implementation of the Expatriate Employment Levy in Nigeria, viewing it as a significant measure to ensure fair job access across the nation, particularly for Nigerian youth,” he said.

The chairman implored the relevant government ministries, departments agencies, and other stakeholders to endorse and diligently pursue the successful implementation of the EEL, for the benefit of Nigerians.

“We advocate for collaboration among government agencies, private sector stakeholders, and civil society organisations to ensure the successful execution of the EEL.

“We want quick achievement of EEL objectives, thus fostering a more inclusive and prosperous future for Nigerian youth, and laying the groundwork for sustainable development and economic growth,” he said.

Edited by Florence Onuegbu/Chinyere Joel-Nwokeoma

Judiciary

Alleged Defilement: Businessman docked for failing to produce suspect

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By Ngozi Njoku

A businessman, Robert Makolo, on Monday appeared before an Ikeja Chief Magistrates’ Court, for failing to produce a suspect he stood surety for in a case of defilement.

Makolo had promised to produce the suspect, Paul, who is his brother in court by the adjourned date.

The Magistrate, Mr Lateef Owolabi, adjourned the case until May 30 for mention and to enable the defendant to produce the suspect.

The News Agency of Nigeria (NAN) reports that Makolo had earlier been arraigned on Jan. 22 and stood trial on a two-count charge of conspiracy and perversion of justice.

He had pleaded not guilty.

Owolabi granted the defendant bail in the sum of N200,000 with two sureties in like sum who must produce evidence of 3 years tax payment to the Lagos State Government.

He said that one of the sureties must be a blood relative.

The prosecutor, SP Josephine Ikhayere, had told the court that Makolo stood in as surety on Nov 16, 2023, at the Anthony Police Station.

Ikhayere alleged that Makolo stood as a surety for his brother Paul, who was involved in a case of defilement.

She said that the defendant promised to produce his brother the suspect anytime his presence was required at the police station until the case was finally disposed of.

She said that the defendant undertook to produce the suspect on Nov. 30, 2023, but failed.

The prosecutor said that the offence contravened the provisions of Sections 97 and 411 of the Criminal Law of Lagos.

Edited by Yakubu Uba/Sadiya Hamza

Judiciary

Lawyers back virtual hearing in Lagos, seek fee reduction

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By Adenike Ayodele

Some lawyers have expressed optimism that the virtual hearing method introduced by the Lagos State judiciary will speed up dispensation of justice in the state.

They disclosed this in separate interviews with the News Agency of Nigeria (NAN) on Friday in Lagos.

They spoke against the backdrop of the N30,000 virtual hearing fee per session announced on March 28 by the Chief Judge of Lagos State, Justice Kazeem Alogba.

Mr Malachy Ugwummadu, a former National President of the Committee for the Defence of Human Rights, described it as gratifying to find a way around adopting technology to deal with some clauses affecting the dispensation of justice in the state.

Ugwummadu said Alogba had the constitutional power to make rules for regulating the practice and procedure of the High Court of Lagos in accordance with Section 274 of the Constitution of the Federal Republic of Nigeria (1999 as amended).

“The legality, constitutionality and validity of the Chief Judge to make regulations were derived from the constitutional provisions which allowed him to announce the virtual fee.

He said there was very little space for escape in relation to adopting technology and modern communication infrastructure as it further advanced the hierarchy of technological revolution, attending the process and procedure in court.

Ugwummadu, however, described the introduction of the fee as a two-way thing, saying that virtual hearing was more recognised in Lagos State.

According to him, there are no escape routes from adopting technology in judicial practice, as it helps in the enhancement of access to justice.

”For me, it is a two-way traffic, on one hand, it is gratifying that we have found a way around adopting technology to deal with some of the clause that we have had in past procedures.

“For instance, in those cases in which I had to bring these applications, I have some witnesses who have relocated to London but must they come back to Nigeria just because I intend to lead them in evidence for a maximum of 40 minutes?

“The answer is no, so we got the application. It was granted and the challenge was handled.

Secondly, where it becomes impracticable to have these witnesses to testify physically, the beauty of what is now available is that you can have the person virtually attended to from the comfort of wherever he is and it is about balancing at the end of the day,” he said.

Ugwummadu, however, urged the chief judge to take into cognizance human rights lawyers who took up pro bono cases.

“My argument is on both sides. On the first side, we are great, boasting to enjoy the beauty of technology and on the other hand is how does it poses a limitation to access to justice.

“I think that my lord, the Chief Judge, is able to factor into decision cases that we human rights activists handle pro bono.

“We pay for filing, service fee and the likes for pro bono cases and in addition to the virtual fee, I think it is a huge sum but if we take all of these into consideration, we will be able to strike the right balance,” he said.

A Lagos-based lawyer, Mr Ige Asemudara, also applauded the state judiciary for coming to terms with the need for virtual hearing of cases for the sake of speed and to proper management of manpower.

Asemudara, the founder of Mission Against Injustice in Nigeria, added that virtual proceedings would save cost for litigants.

According to him, virtual proceedings were basically introduced for speed and time management.

“Virtual proceeding was introduced because we needed to manage speed, time and reduce cost.

“It is a good thing that the Lagos State Judiciary has taken a step further.

“However, I am of the view that N30,000 is on a high side, though we are not forced to apply for it.

“The honourable chief judge should please look into it as there is a need to allow access to justice for both the rich, middle class and the poor.

“We should not look at it from the angle of counsel but from the angle of litigants who may not have the financial capacity to transport themselves to court to and fro,” he said.

Another Lagos lawyer, Mr Abdul Wahab, said that an equitable amount of money should be fixed for virtual hearing.

Wahab said that virtual hearing had made it easy for elderly people who could not afford the time and energy to give their evidence in the comfort of their homes.

He, however, said that the price should be reduced to boost accessibility.

NAN also reports an Information Technology (IT) firm, Global T & T New Solutions Ltd., which partnered the Lagos State judiciary on virtual court proceedings, said that the new development was geared towards leveraging on virtual /remote trial to enhance access to justice.

The remote court payments go to the judiciary purse but managed by Global T&T New Solutions.

Edited by Chinyere Joel-Nwokeoma

Business

Zenith Bank to submit 2023 financial statement April 30

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By Rukayat Adeyemi
Zenith Bank Plc. on Thursday expressed  optimism that it would submit its 2023 full-year audited financial statement to the Nigerian Exchange Ltd. (NGX) on or before April 30.
The Company Secretary, Zenith Bank Plc.,  Mr Michael Otu, stated this in a notification sent to the NGX in Lagos.

Companies listed on NGX are required to file their financial statements within 60 days of a year-end.

This is in line with the Securities and Exchange Commission’s (SEC) directives and NGX RegCo’s Circular on the filing of fourth quarter unaudited financial statements.

Specifically, companies with a year-end date of Dec. 31 of any year should file their accounts on or before March 1 of the next year.

However, this rule comes with some exceptions, especially for commercial banks.

Otu said that the bank’s 2023 financial statement would be submitted to the NGX after receipt of approval by the Central Bank of Nigeria (CBN).
He stated that the bank had submitted its audited financial statements and accounts to CBN for final approval.
According to him, Zenith  Bank envisaged a delay due to the fact that it recently concluded the component audit of its subsidiary companies.
“We have communicated this to the Securities and Exchange Commission (SEC) and NGX for extension of the time within which the bank will publish the audited financial statements for the year ended Dec. 31, 2023.
“The extension is to enable the bank  to receive all outstanding regulatory approvals relating to the component audit of the subsidiary companies,” he said. (NAN)
Edited by Ijeoma Popoola
Entertainment

Academy trains 100 youths on photography

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By Oladele Eniola

Mr Victor Okhai, Founder, International Film and Broadcast Academy (IFBA), has urged youths in the country to learn skills to achieve self-sustainability.

He said this would reduce the unemployment rate among the youth and develop the national economy as well as enhance self-reliance among them.

Okhai said this in an interview with the News Agency of Nigeria (NAN) in Lagos, on the sideline of the conclusion of a five-day training of 100 up-and-coming photographers on the art of photography.

The News Agency of Nigeria (NAN) reports that the training was held at the Academy Centre, in Surulere area of Lagos State.

He explained that the training would enhance skills of the participants and also help in filling the void of inadequate skills acquisition amongst the youth.

“We are training 100 photographers on the techniques of photography, as this is part of our mandate to offer free training to over 20 million people around the continent.

“Skills acquisition is very important as it plugs different holes and ensures that people can explore and use their skills set to use.

“We have been doing this type of training over the years and we are committed to ensuring that we empower the masses through these means and give people the platform to enhance and put their skills into use,” he said.

Okhia, who is also the President of Director Guild of Nigeria (DGN), revealed that the participants of the training were selected from faith-based organisations, Non-Governmental Organisations and advert placement of Facebook.

He said that 2000 people in each state would be empowered before the half of the year, adding that collaborations with the Federal Government and NGOs will aid in spreading the outreach.

“We plan to spread the outreach to other parts of state as that is part of our mandate. So, collaboration with the government and its agencies would help us do more.

“We remain committed to ensuring that we play our part in ensuring that we impact the lives of the people through empowerment programme as this,” he said.

One of the participants, Mr Michael Adeyinka, who is a person with disability, applauded the training noting that it would help him develop a new skill.

Adeyinka, who is a Disc Jockey by profession, said,“I’m very glad I was able to do this training as I was always interested in enhancing my skills in photography, so, this was a great opportunity for me.”

 

Abaji Yahaja, an actress and movie producer, said the training would help in improving her photography skills as she has always known the basics about it. (NAN)

Edited by Auwalu Birnin Kudu/Folasade Adeniran

General News , Health

LUTH ‘ll continue to partner public/private institutions to achieve laudable goals – CMD

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By Abiodun Azi

Prof. Wasiu Adeyemo, Chief Medical Director, Lagos University Teaching Hospital (LUTH), says the institution will continue to partner public and private organisations to achieve its set goals.

 

Adeyemo said this during a news conference on Monday in Lagos to mark his one year in office.

 

“On assumption, l was faced with three major tasks of completion of projects by the last management, which I was a member for eight years.

“Pursuing my own vision as highlighted in my strategic plans, and pursuing the vision of the President of the Federal Republic of Nigeria and the Federal Ministry of Health and Social Welfare (FMOH&SW).

“The FMOH&SW has developed a four point agenda to drive the objectives of this administration. The key vision behind the 4-point agenda of the Ministry was that of President Tinubu,’’ he said.

He read the agenda as improving quality of governance and leadership of hospital, regulatory capacity of agencies under the ministry, improving population health outcomes, promoting medical industrialisation and improving health security/investment in public health.

Adeyemo said that the present administration of LUTH under his leadership would continue to partner the leadership of the FMOH&SW and contribute its own quota toward achieving the laudable four- point agenda.

“The multi-million-naira NSIA-LUTH Cancer Centre is the single largest Cancer Centre in West Africa, and has provided care to over 11,000 patients since 2019 when it was commissioned.

“Thereby, saving the country millions in foreign exchange that would have been expended on medical tourism. The Centre has 3 Linear Accelerators, a CT Simulator, Brachytherapy machine, and a Chemotherapy suite (containing 14 Chemotherapy chairs).

“LUTH is now a go-to Hospital for Cancer Management in West Africa and is even attracting clients from abroad.

“For comprehensive cancer care, Federal Government has also committed to building a state-of- the-art Nuclear Medicine Centre at the hospital, the first of its kind in a Public Hospital in Nigeria,” he said.

He assured the public of the institution’s commitment to providing qualitative and affordable healthcare to Nigerians.

He said that the institution was committed to the policies and programmes of the Federal Government and its parent ministry, targeted at reviving and upgrading the healthcare sector.

“The federal government has also made funds available to LUTH to upgrade endoscopic surgical services, urology and gastroenterology.

“Endoscopic procedure otherwise not possible a few years ago, are now being carried out in LUTH. Other hospitals now refer patients who require video-bronchoscopy to LUTH,’’ he said.

Adeyemo said that last month, LUTH became the first public tertiary hospital in Nigeria to perform Thoracoscopic primary repair of Oesophageal Fistula.

He said that this was a case of minimal access surgery performed on a 13-day-old baby, made possible with the increased funding by the federal government, commitment of the ministry of health and management of LUTH. (NAN)

Edited by Ifeyinwa Okonkwo/Folasade Adeniyi

Economy/Business , General News

FG to patronise local meter manufacturers to close metering gap

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By Yusuf Yunus

The Federal Government has pledged its commitment to patronising local meter manufacturers in boosting local content development and fostering growth in the industrial sector.

 

Mr Adebayo Adelabu, the Minister of Power, during a working visit to Momas Electricity Meters Manufacturing Company Ltd. (MEMMCOL), gave the assurance to local manufacturers investing in domestic production in Mowe, Ogun State.

 

Adelabu emphasised the importance of sustaining local producers through access to affordable funding and long-term capital

He said, “We will also prioritise patronage, ensuring sustainability in their operations, aligning with President Bola Tinubu’s renewed agenda.

“It is a must to have significant local content in power sector’s projects and contracts.”

He highlighted plans to introduce legislation mandating local content in the power sector, just like the oil and gas industry, stressing the necessity of comprehensive plans for full backwards integration and technical training.

Adelabu said: “That is the only way local producers can be sustained.

“But, we need to start developing capacity in terms of investment infrastructure and also ensure mass production.

“Need to develop local capacity to avoid importation.

“We must have comprehensive plan for full backward integration, so that the locally manufactured productst will be achieved.

“We need to start training our people in technical training.”

The minister outlined the Presidential Metering Initiatives’ target of installing two million to 2.5 million meters annually over the next five years.

According to him, initially to address significant metering gaps, stressing the need for collaborative efforts from all stakeholders.

Commending MOMAS for its contributions to bridging the metering gap, Adelabu stated,  “MOMAS remain our proud local meter manufacturing company in Nigeria. Its investment in metering and other electrical equipment is topnotch.

“I visited the meters manufacturing company to see how they can be supported.

“lt’s part of my visit to see how they can be supported through the meter expansion programme of the Ministry of Power.

“We know that Nigeria is highly import dependence country, this are one of the reason our currency has lost vulues.

“lt one of the intention of government to ensure we are back on import substitution journey.

“The only way we can do this is to support local manufacturers, apart from support.

“We must also incentives them by providing conducive atmosphere that we make their production activities in terms of cost to be competitive,” Adelabu expressed.

He acknowledged MOMAS’s substantial investment in metering infrastructure and emphasised the importance of creating a conducive environment for local manufacturers to thrive.
Impressed by MOMAS’s commitment to local content, Adelabu promised to engage with regulatory bodies to expedite meter acquisition plans, underscoring the urgency of addressing the widening metering gap.
He urged other Nigerian businesses to emulate MOMAS’s dedication to local content development, emphasising the government’s commitment to promoting self-reliance and reducing dependence on foreign goods.
In response, Mr Kola Balogun, Chairman of MOMAS, expressed appreciation for the minister’s support and stressed the need for sustained government commitment to local industries.
Balogun highlighted MOMAS’s capability in meter manufacturing and called for increased government support to facilitate raw material procurement and potentially explore export opportunities.
As the nation’s sole Original Equipment Manufacturer (OEM) in meter production, he said that MOMAS is poised to meet Nigeria’s metering needs.
He advocated for continued government patronage to support its investment in the country’s industrial development.

We design meters from scratch and  that capability not in doubt because we complied with all the various standards that Nigeria has set and also global best practices in terms of design.

“Virtually all DisCos are our partners. We also supply meter to Liberia,  Sierra Leone and  other African countries, but the volume Nigeria needed supersedes any volume in Africa,” he said

Balogun said: “The local patronage is still very much needed to be able meet up the investment threshold that we have done in the country today.

“We are the only Original Equipment Manufacturer (OEM) in the country. We design from scratch, which is an embedded conceptualisation in engineering.

“That is the capability we have brought to the country.  It also behoves on the government to leverage on this and patronise us,”  Balogun added.(NAN)

 

Edited by Olawunmi Ashafa

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