By Kamal Tayo Oropo

Mr Claver Gatete, Executive Secretary, Economic Commission for Africa, says Africa needs support in developing its road safety management to curb the high rate of road crashes.

Gatete, who made the call in a statement on Thursday by the Communications Session of ECA, said the rate of road crashes in Africa was a blight on the continent’s development.

The World Health Organisation (WHO) estimates the road traffic fatality rate on the continent to be 26.6 deaths per 100,000 people, compared to 17 in South-East Asia, 9.3 in Europe and the world’s average of 17.5.

Speaking at the United Nations Partnership Meeting for Road Safety, Gatete said that the disproportionately high rate of road traffic deaths in Africa was alarming.

He noted that this was especially so as the continent had barely 3 per cent of the world’s vehicle fleet.

“Equally alarming, road traffic fatalities in Africa increased by 15% between 2019 and 2020,” he added.

The United Nations Partnership Meeting for Road Safety is a platform for UN organisations to share experiences in efforts to reduce road injuries and fatalities across the world.

The 2023 WHO Global Status Report on Road Safety indicates that approximately 1.19 million people die each year as a result of road traffic crashes with road traffic injuries being the leading cause of death for children and young adults aged 5 – 29 years.

“Road safety management is foundational to curbing road deaths, yet it remains a major challenge in Africa,” Gatete said.

Research by ECA and the African Union Commission (AUC) shows that only 22 per cent of measures related to road safety management in the African Road Safety Action Plan (2011-2020) were implemented.

According to Gatete, ECA has since focused its technical assistance and advisory services to African countries and organisations on Road Safety Management.

He urged the UN Road Safety Fund (UNRSF) to consider allocating more resources to projects in Africa due to the magnitude of the road safety problems on the continent.

The ECA boss also called on UN organisations to assist in improving the reliability of road safety data in Africa by supporting the Africa Road Safety Observatory (ARSO).

“Lack of reliable data on road safety is another challenge that Africa grapples with”, Gatete said, calling for the speedy implementation of the ARSO, which will help address the issue through evidence-based decision-making on the continent.”

Also calling on UN organisations to support the digitalisation of road safety in Africa, Gatete said the continent needed capacity building, technical assistance, research, and financial support.

According to 2023 WHO Global Status Report on Road Safety, 92 per cent of the world’s fatalities on the roads occur in low- and middle-income countries.

Road traffic crashes also cost most countries three per cent of their Gross Domestic Product (GDP). (NAN).

Edited by Folasade Adeniran

By Martha Agas

The Minister of Solid Minerals Development, Dr Dele Alake, has tasked geoscientists on boosting development in the solid minerals sector.

Alake described them as critical in establishing  proposed businesses of investors that Nigeria was wooing to the sector.

He made the call while speaking at the 13th induction ceremony of the Council of Nigerian Mining Engineers and Geoscientists (COMEG), on Thursday in Abuja.

He said that the government had been embarking on engagements both locally and internationally,  aimed at attracting investors to the sectors, and would require the input of key stakeholders .

He said that geoscientists  represented a critical part of the value chain of Nigeria’s exploration, extraction and processing of solid minerals,  aimed at diversifying its economy.

He added that the country required their services to enable it to achieve its target of increasing its revenue profile.

”Investors both locally and internationally are coming to us in droves, making enquiries  to bring in direct foreign investments into our economy.

” However, the criticality of your role comes to the fore because once these investors come in, you are the first set of public relations managers .

”Because they need scientists and mining engineers for feasibility studies, development, exploration activities or extraction, ” he said.

He urged them to play their roles efficiently to encourage the investors to engage in long term businesses in the country.

The minister urged them to also update their knowledge and skills,  especially as their work is  technical where new technology continuously evolves.

According to  Alake, his ministry will not have any business with geoscientists not certified by COMEG as part of efforts to sanitise the sector.

The minister said there had been a global upsurge for energy transition, which required a shift from the use of traditional fossil fuel and dependency on oil hydrocarbons to green energy.

He said the situation required mineral deposits in order to sustain the transition  for decades and centuries, which Nigeria possessed.

He said that President Bola  Tinubu is determined to explore such minerals and reposition the sector to address overdependence on the oil industry.

The action, he further explained, would contribute to Nigeria’s Gross Domestic Products (GDP) which would facilitate infrastructure development.

Speaking earlier, the Registrar of COMEG Prof. Zacheus Opafunso,  urged the inductees to be of good behaviour and adhere to  professional ethics in their discharge of duties.

According to Opafunso, as part of COMEG’s mandate, they have visited tertiary institutions running programmes related to the extraction industry, to  ensure compliance to standards and churning out  of  qualified graduates.

He said that about 50 per cent of such programmes had been accredited.

Also speaking, Prof. Akinade Olatunji, President of the Nigerian Mining and Geosciences Society (NMGS) said that no graduate from unaccredited institutions would be registered with them to check quackery.

The News Agency of Nigeria (NAN) reports that 28 inductees comprising of individuals and companies were admitted as members of COMEG. (NAN)

Edited by Chioma Ugboma

By Ginika Okoye

The Federal Competition and Consumer Protection Commission (FCCPC) says an improved knowledge of digital finance will help young consumers position themselves for a greater future.

Mr Babatunde Irukera, the Executive Vice Chairman of FCCPC, said this at the 2023 National Young Consumer Contest Awards on Thursday in Abuja.

Irukera said digital markets would dominate the future hence the need for young consumers to acquaint themselves of what it entailed.

He said the theme of the contest which was: ‘Fair Digital Finance,’ was to direct young consumers attention to their future.

“The future belongs to the young people in Africa.

“Digital finance, digital markets are what will dominate the future.

“The thing big companies are interested in now are the young people. They want to know what the young ones like because the knowledge lies their profitability.

“We must be intentional in acquiring this knowledge.

“We cannot catch up with the rest of the world by building new schools. The way of instructions are going to be digital,” he said.

Ms Mercy Ogwu, the Head, Consumer and Business Education Department, FCCPC, said the contest came up out of the commission’s initiative known as ‘Learning for Life’.

Ogwu said the initiative was to catch the younger generation to make sure they understood consumerism.

She said the competition which was about essay writing was open to all schools both in secondary and tertiary levels.

“We have different segments of our sensitisation and a part of it is for schools.

“We go to schools, set up school clubs and help them become proactive consumers.

“Every year, we access them and part of the assessment is to set up this competition and this year, they wrote an essay on fair digital finance,” she said.

The News Agency of Nigeria (NAN) reports that Master Peter Idara Ukweso of the Southern British High School, Calabar won the first position in the secondary schools cadre.

NAN also reports that Freedom Ominyi-Eje of the Benue State University, Makurdi won the first place in the tertiary cadre.

The winner in the secondary received N300,000, while the tertiary cadre winner received N500,000 and an advanced National Youth Service Corps (NYSC) placement in the Commission.

Some of the winners expressed gratitude to the FCCPC, saying that the knowledge had equipped them to understand consumerism. (NAN)(www.nannews.ng)

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Edited by Chinyere Joel-Nwokeoma

By Lydia Ngwakwe

The Enhancing Financial Innovation and Access (EFInA) says the percentage of adults who use regulated financial services in Nigeria has reached 74 per cent in 2023.

Dr Oluwatobi Eromosele, General Manager/ A2F Research Lead, EFInA, disclosed this while presenting Access to Financial Services in Nigeria (A2F) 2023 survey results on Wednesday in Lagos.

The News Agency of Nigeria (NAN) reports that the 2023 EFInA Access to Financial Services in Nigeria (A2F) Survey findings, has the theme, “Unlocking Insights to Accelerate Financial and Economic Inclusion’’.

By Rukayat Moisemhe

The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has urged Nigerians to exercise patience with the various economic policies by the President Bola Tinubu led administration to gestate and have projected impact on the society.

Mrs Funmi Ekundayo, President, ICSAN, gave the advice during a media parley on Wednesday in Lagos.

Ekundayo noted that these policies must take their time to gain traction particularly given the peculiarity of the realities on ground.

She said citizens must consider the rationale leading to the fuel subsidy removal and the benefits accrued to us as a nation, which may not be felt immediately.

“Citizens must continue to set the tone for what they want to see to put the government on their toes as it is on us all to ensure that things pick up economically.

“When government is able to meet our expectations, we must be bold enough to commend them and when there is the need to overhaul things, we must also be bold enough to address it.

“It is important that the cost of governance must be at its barest minimum; if government is tasking people to forebear, they must take the lead.

“If Nigerians are showing understanding, taking it in their strides and being extremely resilient, it is not appropriate to see any wastage on the part of government,” she said.

Addressing the 2024 budget, Ekundayo said its early presentation signified a right measure in the right direction, leading to early discussion, approval, implementation and the positive impact on the people.

She tasked the National Assembly to ensure adequate oversight and effective monitoring of all Ministries, Departments and Agencies (MDAs) that generate revenues to put to them on their toes to meet their respective targets.

She also called for an overhaul of the public sector and build pragmatic checks and balances to address corruption and inefficiency.

“Government must also ensure prompt and effective implementation of all executive orders while factors militating against successful implementation of governmental policies must be looked into and addressed appropriately,” she said.

Ekundayo said government in its bid to review the national minimum wage next year must ensure adequate and appropriate engagement with all the relevant stakeholders, including the labour unions and pensioners.

This, she explained, would enable all parties come up with a proposition that would be acceptable and fair to all.

“Once the right engagement is in place and every stakeholder represented, the position reached would be a win win with less aggravation and heated polity.

“Government must also ensure accountability and transparency in its dealings. If there’s a reason why they are unable to meet up, it should be clearly stated to avoid speculations.

“This brings us to the importance of corporate governance practices such as transparency and information dissemination when necessary to avoid these issues.

“Nigeria must strengthen her corporate governance regime to reap the benefits of economic growth and sustainable development.

“While we affirm faith in the viability of emergence of a Nigeria that is strong, self-reliant and prosperous, we daresay that one of the cogent ways of moving in this direction is by entrenching good governance in the public and private sectors,” she said.

Ekundayo, speaking on the gains of the institute in 2023, said it made a giant stride in the quest to propagate quality education and knowledge on governance matters in Nigeria by signing a Memorandum of Understanding (MoU).

She said the MoU was signed with the Nigerian Institute of Legislative and Democratic Studies, Abuja, in conjunction with the University of Benin, for Master of Science in Governance.

Ekundayo pledged to continue to engage relevant stakeholders and government in areas of governance and capacity development for private, public and non for profit organisations as the institute looked forward to 2024 with renewed vigour. (NAN)(www.nannews.ng)

==============
Edited by Chinyere Joel-Nwokeoma

Participants at the Entrepreneurship Development Programme /Public Presentation of Practice Licence in Lagos

By Lydia Ngwakwe

The Chartered Institute of Bankers of Nigeria (CIBN) has awarded practice licence to 14 deserving members who met all the requirements for issuance of the licence.

The News Agency of Nigeria (NAN) reports that the public presentation of the license was done at a two-pronged event organised by the institute, on Wednesday in Lagos.

The event has the theme, “Building a Sustainable Enterprise: The Role of Environmental, Social, and Governance (ESG)’’.

The President/Chairman of Council, CIBN, Dr Ken Opara, said that candidates who were granted the licence went through an extensive screening process, which in part required meeting preset requirements.

“While the Entrepreneurship Programme is aimed at sharpening the entrepreneurial skills of our professional members and empowering them to successfully run their own businesses, the public presentation of practice licence enables the holders to consult and render services in banking, finance, and allied matters to clients except for financial intermediation services.

“This year,  we are proud to award the practice licence to 14 deserving members who have met all the requirements for issuance of the licence,’’ he said.

Opara said that the theme for the event, which was carefully chosen, gave the various factors involved in sustaining a business in the 21 st Century.

According to him, sustainable enterprise helps to recognise that success is not measured solely by financial gains but also by the positive impact made in one’s environment, society, and during corporate governance.

The CIBN boss stressed that considerations for the environment, society, and good governance (ESG) was fundamental to how businesses operate in the modern world.

He said, “ in recent times, environmental, social, and governance principles have become the bedrock of modern business practices.

“Among other things, it helps businesses identify and manage social risks that can impact their operations and reputation.

“It also gives businesses a competitive advantage, this is because investors and other key stakeholders are more likely to prioritise support for organisations that have displayed a commitment towards maintaining ESG standards.’’

Dr Bankole Allibay, Consultant, Social Safeguards, World Bank Group, urged every organisation to adopt ESG in business operations.

According to him, every business, to varying degrees, has environmental and social impact on the society and their environment as well as risks associated with their operations.

“To manage these risks and impacts, every organisation needs to adopt ESG in their business operations.

“The three major pillars of ESG are key factors that affect an organisation’s reputation and long term success.

He said that some of the benefits of ESG to business were to provide competitive advantage, attract and retain top talent, attract investors and lenders, and improve the health of the living ecosystem, among others.

He said that low employee commitment, investors apathy, litigation, bad public reputation, among others were some of the cost of not adopting ESG.(NAN)

Edited by Olawunmi Ashafa

L-R  Speaker, Lagos State House of Assembly, Mr Mudashiru Obasa and Gov. Babajide Sanwo-Olu

Resident

By Adekunle Williams and Florence Onuegbu

The 2024 budget proposal of N2.246 trillion presented by Gov. Babajide Sanwo-Olu should be tailored towards improving the lives of residents, the Speaker, Lagos State House of Assembly, Mr Mudashiru Obasa, has said.

Obasa made this known immediately after the presentation of the budget estimate by the governor to the lawmakers on Wednesday at the assembly’s chamber.

The News Agency of Nigeria (NAN) reports that Gov. Babajide Sanwo-Olu presented N2.246 trillion budget estimate tagged, ’Budget of Renewal’ to the assembly for legislative approval.

NAN reports that a breakdown of the budget shows a capital expenditure of N1.224 trillion and a recurrent expenditure of N1.02 trillion.

Obasa said the state government should urgently begin to look at better ways to alleviate poverty beyond giving out packaged foodstuff.

The speaker said this was important because the country had been faced with multifaceted issues of rising prices of goods and services, high forex and other societal problems, which required urgent attention and drastic solutions.

He said: “It is highly important for us to apply the right indices toward ensuring a performing and functioning budget that would lift people out of poverty and reposition the state towards infrastructural growth and renewal.

“Palliatives should move from just giving people garri, rice, beans or even money. We should have a direction that is focused, impactful and deeply backed up by effective policy implementations.

“For instance, in the name of palliative care, let there be provision of drugs at all public hospitals in the state at subsidised rates. At the same time, focus should be on a downward review of treatment costs in these hospitals.

“Also, provision of subsidised school materials should be encouraged. In like manner, raw food merchants who bring food items from the hinterlands should be put into consideration.

“The government can help subsidise their transportation system too. This will in turn lead to a crash in the cost of food prices and make them affordable.”

Obasa said this was an avenue to reiterate his stand on the need to improve the enforcement and implementation of state polices, which was highly necessary.

According to him, it is on record that most people flout the laws of the land with impunity.

“We hear of people’s total disregard to traffic laws every now and then,” he said.

The speaker urged his colleagues to be steadfast, courageous and determined as they perform their constitutional duties.

He said his colleagues should monitor the performance, execution, and compliance of the provision of the budget.

Obasa appealed to Nigerians to be patient with the administration of President Bola Tinubu, saying,”he is aware of the economic challenges in the country”.

The speaker said Tinubu’s team was working on turning around the economic situation of the country, urging them to support the president in his prayers. (NAN)

Edited by Olawunmi Ashafa

By Rukayat Adeyemi

Mrs Barakat Odunuga-Bakare, Special Adviser to Gov. Babajide Sanwo-Olu on Housing, says real estate is contributing a sizable share to the state’s Gross Domestic Products (GDP).

Odunuga-Bakare said this at the fourth Lagos Real Estate Market Place Conference and Exhibition, organised by the Lagos State Real Estate Regulatory Authority (LASRERA), on Wednesday.

The News Agency of Nigeria (NAN) reports that the theme of the conference is: “Real Estate Regulation – A Panacea For Disaster Mitigation and Recovery in the Built Environment.”

She stated that real estate contributed 5.31 per cent to the state’s GDP in first quarter of this year, noting that Lagos is the economic heartbeat of the nation.

“Real estate in Lagos has also displayed great potential to create jobs, bridge housing deficit as well as boost economic growth.

” This year alone the budget for affordable housing in Lagos was in excess of N67 billion,”she said.

” Considering the strong demand for affordable and decent homes, there is a growing market for luxury homes and an increased demand for commercial real estate.”

She noted that in spite of the state of the economy, the outlook for the Nigerian real estate market is still positive.

” As such, the government as a regulator must continues to play its supervisory and regulatory role.

” This is to streamline the sector’s activities, both to foster greater prosperity and protect the interest of all stakeholders.”

She commended Gov. Sanwo-Olu for strengthening the executive in the implementation of the Lagos State Real Estate Regulatory law as documented in the state Official Gazette of Feb. 11, 2022.

According to her, sections 6 and 7 of the law give LASRERA the power, among other functions, to formulate policies for proper dealings in real estate transactions in line with best global practices.

” Considering the huge opportunities in real estate, the stakes are higher, as there are several risk and dangers that could make or mar us as players.

“However, embracing best practices is the sure way to mitigate disasters in the sector.

“There are established quality control measures, time tested ethics and operational principles applicable in all professions.

“In spite of laid down rules and tenet, we cannot curb innate human tendencies of some who will always attempt to circumvent and sabotage extant rules.

” This is where regulation and compliance works for all.”

Odunuga-Bakare emphasised that de-risking housing investment for private developers and investors was a key goal for the Lagos state government.

She said that providing a favourable environment for private investment in the built sector was a fundamental and entry point for partnership that works.

The special adviser expressed readiness for collaboration with stakeholders and development of regulations that will boost their businesses and grow Lagos economy.

The Managing Director, Gracias Global, Dr Ololade Abuta, urged government to create a more convenient platform for realtors in the state and ensure that documentation processes for construction were seamless.

Abuta noted that enforcement of LASRERA’s regulations was key to sanitising the real estate sector.

The managing director added that realtors must ensure to do the needful at all times to promote the sector. (NAN)(www.nannews.ng)

Edited by Olawunmi Ashafa