SUPA: the new frontier for shared prosperity

By Temitope Ajayi

With the increasing demand for blue-collar workers in Europe, North America and Asia, the Federal Government, through the Industrial Training Fund, is now working to up the skills of artisans in Nigeria which, in turn, would boost the nation’s economy through skilled manpower and labour export.

Of recent, Denmark, Germany, UAE, Estonia, United Kingdom, Ireland and many other countries are introducing various Visa categories to attract artisans from Africa.

To boost the pool of local artisans with proficiency in in-demand skills, President Bola Tinubu has mandated the Industrial Training Fund (ITF) to retrain and ensure 20million artisans in Nigeria are properly certified over the next five years, so they can become competitive and be able to take full advantage of job openings locally and abroad.

The President also directed that the ugly trend of artisans from China, Philippines and neighbouring West African countries taking up jobs meant for artisans in Nigeria should be reversed.

In the last decade, many oil service companies and IOCs operating in Nigeria have struggled to get welders, plumbers, electricians, etc to work on their projects.

More disheartening, is that builders and construction firms in Nigeria have resulted into bringing in bricklayers, tilers, carpenters from Benin Republic, Mali, Togo, Ivory Coast to deliver on major projects.

As part of the Renewed Hope Agenda for inclusive and shared prosperity, a national framework, Skill-Up Artisans (SUPA) programme, has been designed to pivot a paradigm shift in technical know-how and service delivery for Nigerian artisans.

With SUPA initiative, the Federal Government through the Ministry of Industry, Trade & Investment and the Industrial Training Fund now has a coordinated programme to standardise and licence artisans. SUPA will equally address outdated and skills deficiency in artisanal practice in the country.

Speaking on the importance of upskilling artisans for national development, Director General of ITF, Afiz Oluwatoyin, explained that the initiative is aimed at ensuring Nigerian artisans can compete globally.

“In the past, Nigerian artisans have been operating like illiterates and low-level people. When you go outside, you find out that artisans are well regarded contributors to economic growth. In some countries, artisans earn more than professors and other white-collar workers.

“In countries like US and Europe, if you are not strong financially, you may not be able to pay them. They are well respected. When I came down here, I saw people from other countries taking up jobs. We dont want quackery in Nigeria. We want standout artisans that can stand up anywhere in the world and measure. We want to upgrade Nigerian artisans to international standard,” the ITF DG said.

At the moment, the Nigerian government is collaborating with Abu Dhabi for the supply of 14,000 qualified artisans to work in UAE. The overarching objective of the SUPA is to drive national development, ensure availability of skilled artisanal workforce for domestic industries and create a sustainable pipeline for labour export.

Ajayi is Senior Special Assistant to the President on Media and Publicity

By Rukayat Moisemhe

Mr Kudzai Mukuku, Chief Executive Officer (CEO) of Africa Investment Leaders (AIL), has announced conception of Africa Investment Leaders Forum and Awards aimed at attracting investment into the continent and fostering economic growth.

Mukuku, during a hybrid press conference on Monday in Harare, said that the forum would contribute significantly to the realisation of African Union’s Agenda 2063.

According to him, the forum is in line with the agenda to foster a continent that is economically vibrant, socially inclusive and technologically advanced.

He said that the three-day event would bring together investors, influential leaders, CEOs, industry experts, policymakers, government officials and other key stakeholders from Africa and other parts of the world.

Mukuku added that the event scheduled for June 26-28, 2024, at Rainbow Towers Hotel, Harare, would foster collaborations, facilitate knowledge sharing, and honour exemplary contributions in the area of investment.

He said that, by highlighting Africa’s economic opportunities and investment climate, increased interest and participation from both local, regional and international investors would be created, thereby contributing to Africa’s economic growth and development.

“During these three days, participants will have the opportunity to engage in various sub-forums that cover a wide range of topics relevant to investment in Africa.

“These discussions will be enriched by the diverse range of speakers from around the world, bringing with them their invaluable experiences and insights.

“This forum will be a melting pot of ideas, aiming to establish Africa as a leading investment destination,” he said.

According to Mukuku, top investors who have invested significantly in Africa since year 2000 will be recognised via ‘The Champions List’.

“We created The Champions List so that so no one with Africa at heart is left out, and the list will be released in five-year batches; for example, year 2000 to 2005, year 2006 to 2010, up to 2020.

“In addition to the intellectual exchange, the Africa Investment Leaders Forum and Awards will feature an exhibition,” he said.

He added that the exhibition would provide a platform for organisations, businesses and entrepreneurs to showcase their innovations, projects and investment opportunities.

“It will be an excellent opportunity for networking and exploring potential partnerships with investors.

“Furthermore, as a buildup to the main event, we will be hosting stakeholder briefs in Zimbabwe, South Africa, Nigeria and Morocco as a precursor to the main event.

“By engaging stakeholders across multiple countries, we aim to ensure the inclusivity and diversity of perspectives at the forum,” he said.

He urged investors and other stakeholders to join the forum to drive innovation, create lasting partnerships and pave way for a prosperous Africa.

The AIL Chief of Communications, Mr Farai Muvuti, said that the forum’s primary goal was to foster collaborations and dialogues among key stakeholders in the investment landscape.

He said that such dialogues and collaborations would facilitate sustainable economic growth and development in Africa.

Muvuti said that the event’s ultimate vision was to unleash untapped potential within Africa and drive innovation, job creation and socio-economic advancement.

“By bringing together decision makers and influencers, we hope to stimulate cross-border investments, enhance infrastructure development and empower local industries.

“Together, we can build a legacy of prosperity that resonates across borders, creating a brighter and more sustainable future for generations to come,” he said.

In her remarks, Ms Rumbidzai Takawira, Events Director of AIL, said that the Africa Wealth Forum would bring together thought leaders, economists and experts to discuss strategies for wealth creation, sustainable growth and investment opportunities in Africa.

She added that a part of the forum would be a presidential symposium exclusively designed for African heads of state to create a platform for high-level discussions on critical investment opportunities and challenges facing Africa.

According to her, deliberations in this exclusive setting will focus on creating investor-friendly environments, promoting sustainable economic growth and attracting foreign investment.

“The presidential symposium will serve as a catalyst for meaningful dialogue, enabling presidents to share their insights and collectively drive the continent towards a brighter, prosperous future.

“There would also be an awards ceremony to recognise investors who have excelled in various sectors, with each category boasting the prestigious award title of ‘Investor of the Year’.

“The categories include oil and mining, agriculture, media and entertainment, real estate and construction, manufacturing, technology, finance, tourism and hospitality, transport and healthcare.

“Others include, diaspora investor of the year, friends of Africa and social responsibility, and we shall also be giving awards to governments with the best investor friendly policies,” she said. (NAN)(www.nannews.ng)

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Edited Ijeoma Popoola

By Lucy Ogalue

The Corporate Affairs Commission (CAC), has advised the general public to desist from opening /registering businesses that they had no immediate intention of translating into action.

The Director of Compliance, CAC, Mr Justine Nidia, gave the advise in an interview with the News Agency of Nigeria (NAN) on Sunday.

Nidia said the commission does not encourage people to go ahead and register companies when they had not developed any business idea that would translate into action.

“It is not advisable to register a company and keep it in your briefcase because that is not helpful to the economy,” he said.

According to the director, such companies are termed shelf companies and are discouraged from being kept in the register of companies of CAC; thus, they are delisted.

“The idea of delisting companies is that we should not be seen encouraging shelf companies.

“By shelf companies, we mean registered companies that are redundant or dormant; they are not doing anything.

“So they do not have to be on the register of companies. The appropriate thing to do is to remove them or strike them off the register,” Nidia said.

He said the commission had published an initial list of about 100,000 companies to be delisted.

“We gave an initial period of 90 days, which has elapsed, to those who think they will still be in business to file annual returns for them not to be delisted.

“After the initial publication, about 5,000 companies responded to file their annual returns, with the remaining approximately 95,000 to be delisted.

“What we have done recently is to issue another publication, requesting companies that have filed their returns, and their names are still on the list to get back to us with evidence.

“So we do not delist a company that already filed its return. So we have given an additional period of one month, after which we will gazette the final list,” Nidia said.

The CAC director commended the efforts of the present government led by President Bola Tinubu for ensuring a conducive atmosphere for businesses to thrive in the country.

Nidia said the commission in line with Tinubu’s mandate, developed a four-point agenda to drive the affairs of CAC.

”The strategic direction contained in the renewed hope agenda informed the need to formulate my four-point agenda aimed at repositioning the commission for greater productivity.

“The four-point agenda is diversification of revenue base, enforcement of compliance, promotion of industrial harmony, and improvement of human capital,” he said. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

By Rukayat Moisemhe

Mr Gbemi Adelekan, Chairman, Money Lenders Association, has emphasised the need for better regulatory protection for money lending operators and consumers.

Adelekan, also, Chief Client Officer, Kwikpay Credit, a foremost digital money lending service, gave the advice in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos.

He said when effective, regulatory protection would protect digital lenders from defaulters and strengthen the money lending ecosystem.

Adelekan commended the tremendous efforts of the Federal Government through Federal Competition and Consumer Protection Council (FCCPC) in making sure that consumers’ rights on loans were protected while illegal and unlicensed loan apps were deleted.

The chairman, however, called for appropriate regulations from the government to address the various critical challenges of digital money lenders.

Adelekan, addressing the importance of money lenders, noted that about 50 per cent of Nigerians were still financially excluded by banks, even though they carry out millions of transactions in the economy.

According to him, this gap creates real opportunities for money lenders as their operations cater for low-income, middle-income and high-income persons alike with the ease of access to funding.

“In recent years, the popularity of digital money lending platforms have grown with lenders providing important services in Nigeria with personal and business loans services including extending loans without security to those that are unbanked and in the informal sector of the economy.

“The growing demand for this service in the country may also be due to the fact that money lenders loan services by design are inclusive and target some important sectors of the economy that may have been excluded from financial services.

“While the lending landscape becomes more competitive and more banks are providing online loans, the heart of the matter for most lenders is that we are lending money to people and businesses that will honour loan commitments and repay the loans,” he said.

Adelekan stated that in spite of technological improvement in credit analysis to enhance the quality of loans granted, the spate of increase in bad loans was worrisome.

This development, he explained, had made it imminent that the government should step in to help save the industry.

He said that the government could save the industry by introducing measures to ensure financial stability and enable healthy evolution due to the huge potential and contribution to the real sector of the economy.

“Digital money lenders have consistently expanded risk acceptance criteria with the use of technology to accommodate more customers thereby improving access to credit in vital sectors of the economy.

“These activities come with critical challenges as the lack of conventional data like bank statements for financially excluded people means digital lenders are using other means of alternative data sources to overcome these challenges.

“It is obvious to digital lenders that even with all the usual measures in place to help mitigate some of the risk that comes with lending online, there are some situations that are completely out of our control,” he said.

Adelekan said the issue of identity theft and serial borrowers moving from one lender to another, using various tactics to circumvent the automated repayment and collection process, have become major challenges to lenders.

He observed that various platforms and groups on social media set up to give tips on ways to avoid repayment of loans to digital lenders operating in Nigeria.

“There have to be consequences for these acts in addition to being disqualified from getting loans in future.

“We need the intervention of the government to improve the access to the courts including the small claims courts to secure judgements for the process of debt collections.

“Licensed digital lenders can also be given access to the Global Standing Instruction (GSI) introduced by Central Bank of Nigeria to reduce non-performing loans in the banking system and place consistent loan defaulters on a watch list.

“There is a need for a robust regulatory framework to address the various challenges in the industry,” he said.

Adelekan reiterated the commitment of members of the association to abide by every laid down ethical code of conduct in their operations. (NAN)(www.nannews.ng)

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Edited by Abdullahi Mohammed/Folasade Adeniran

By Lucy Ogalue

The newly-elected President of the Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, says his administration will ensure infrastructure development and ease of business in the country.

Obegolu said this at the 33rd Annual General Meeting (AGM) and inauguration of the newly elected officials of the chamber on Thursday in Abuja.

“As we move forward, our focus will be on Improving our value proposition, encouraging participatory membership, infrastructural development, professionalising our secretariat and repositioning our brand.

“We will also focus on legislative and Policy advocacy, ease of doing business and expanding market opportunities.

“As we stand at this juncture, let us unite with optimism, determination, and a shared sense of purpose. ACCI has an illustrious past, and together, we will script an even brighter future.

“I am honoured to lead as your President and eagerly anticipate collaborating with each of you to realise our collective vision of a thriving business community in Abuja,” Obegolu said.

While expressing appreciation for the honour of leading as the 12th President of the chamber, Obegolu urged for cooperation from members and stakeholders in carrying out his mandate.

The News Agency of Nigeria (NAN) reports that Mr Agabaidu Jideani was elected as Director-General, Prof. Adesoji Adesugba climbed the ladder to become the 1st Deputy President.

At the same time, Dr Aliyu Hong emerged as the 2nd Deputy President of ACCI.

Earlier, the outgoing President, Dr Abubakar Al-Mujtaba, urged that the same passion, sacrifice and unalloyed loyalty given to him would be extended to the incoming officials.

According to him, the chamber recorded remarkable achievements under his watch due to strategic planning, unalloyed vision and unwavering commitment to the goals and objectives of his administration.

While listing the achievements recorded over the past years, he said the chamber consistently progressed in value and impact.

Al-Mujtaba reiterated the 2024 national outlook of the Federal Government while expressing optimism that the incoming officials of the chamber would support this drive.

“I do not doubt that the incoming President and his team will support the Federal Government through advocacy.

“To ensure that policies and programmes of government are designed towards supporting businesses and consequently improve the lives of the citizens,” he said.

Similarly, the outgoing Director-General, Victoria Akai, expressed hope that the new officials would leverage established partnerships and collaborations to ensure a conducive environment for thriving businesses.

Akai also urged them to explore new opportunities and initiatives that will deliver better services to members and contribute to the development of Nigeria’s economy. (NAN)(www.nannews.ng)

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Edited by Bashir Rabe Mani

By Ginika Okoye

The Federal Competition and Consumer Protection Commission (FCCPC), and the National Sugar Development Council (NSDC) are collaborating to promote competition in the sugar market for effective consumer protection.

Mr Babatunde Irukera, the Executive Vice Chairman of the FCCPC, said this when he paid a visit to Mr Kamar Barkin, the Executive Secretary of the National Sugar Development Council (NSDC) in Abuja on Wednesday.

He said the collaboration would ensure fairer sugar prices for consumers.

Irukera said the collaboration would also come through information sharing from feedback gotten from field works done by the Commission.

He said that businesses benefit and survive from a well regulated competitive market.

According to him, our own work is to ensure that whether imported or locally produced, that consumers get good quality stuff, have choices and get it at the best possible price.

“It is time for some significant constructive collaboration.

“I strongly believe that the kind of feedback we get from the work we do will be of help to you.

“This thing (sugar) is costing a lot, we must do something about it.

“One of the most staple things in food is sugar both in end product.

“Our law prohibits any coordination between businesses with respect to commercially sensitive strategies information or aspects of it.

“That type of coordination is a crime because it is a cartel. Your role is to regulate price.

”You absolutely take this economy wrong if you underestimate the role cost of sugar,” Irukera said.

Also speaking, Barkin said the mandate of the council was to support the development of sugar projects to drive self-sufficiency.

He said that the council would collaborate with the FCCPC to ensure discipline in the market.

“There is a strong nexus between FCCPC activities and our essentially regulated and oversight activities.

“It is in this area that we will be seeing collaboration going forward in terms of ensuring discipline in the market and that the consumer gets what he deserves.

“We will work out the details of this collaboration,” Barkin said. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams