By Kadiri Abdulrahman

The Debt Management Office says it is impressed at the response of investors to its awareness programme on the benefits of investing in Federal Government of Nigeria (FGN) securities.

Mrs Jumai Saidu-Ahmed, the Team Leader, Domestic Debt Unit of the DMO said this on Thursday on the sidelines of the FGN Securities Issuance Awareness Programme in Kaduna.

According to Saidu-Ahmed, the programme is a collaborative effort between the DMO and CSL Stockbrokers Limited, the stockbroking firm of the Federal Government.

“It has contributed in no small measure to enlightening potential Nigerian investors on the benefits of investing in FGN securities,” she said.

She said that the improved response from investors to the various FGN securities offer like the recently offered FGN bond. FGN savings bond and the Sukuk was proof that the awareness had been impactful.

She said that the DMO was determined to sustain the awareness programme to ensure that every Nigerian across the length and breadth of the country benefitted from the lucrative investment opportunities.

Also speaking, Ifeoma Ukwunna, Head, Retail Business at CSL, said that response to the awareness programme had been very encouraging.

According to Ukwunna, investors need information because they care about safe investment and for the opportunity to engage capital market operators on issuance of these FGN securities.

“Also, the feedback from investors has been encouraging.

“Capital raised from FGN savings bond has also grown significantly due to the impact of these awareness programmes,” she said.

The News Agency of Nigeria (NAN) reports that the FGN Securities Issuance Awareness Programme was innaugurated in Lagos in March, 2022.

It has also been held in Enugu, Ibadan, Kano, Yola, Umuahia, Gombe, Osogbo, Port Harcourt, Benin, Uyo, Asaba, Maiduguri, Abeokuta, and Makurdi. (NAN) (www.nannews.ng)

Edited by Ese E. Eniola Williams

By Kadiri Abdulrahman

The Debt Management Office (DMO), says the Federal Government securities are designed to meet investment needs of all categories of investors.

Patience Oniha, the Director-General of the DMO, said this at the FGN Securities Issuance Awareness Programme in Kaduna on Thursday.

Oniha, who was represented by Mrs Jumai Saidu-Ahmed, Team Leader, Domestic Debt Unit, said that FGN securities were default risk-free, and backed by the full faith and credit of the Federal Government.

She said that the awareness programme was a collaborative effort of the DMO and CSL Stockbrokers Limited, the Federal Government’s stockbroking firm.

“The programme is designed to create more awareness about the immense benefits of investing in FGN securities, ” she said.

She listed the existing FGN securities as FGN Bond, FGN Savings Bond, the Sukuk Bond, the Green Bond and Treasury Bills.

She, particularly, urged retail investors to take advantage of the FGN savings bond, which had a minimum subscription of N5,000.

“It is easily accessible to retail investors and attracts a guaranteed quaterly coupon payment, ” she said.

She said that the DMO was a Federal Government agency saddled with the responsibility of managing the country’s public debt portfolio.

“In discharging that responsibility, the DMO also has the responsibility of issuing FGN securities which offer good investments for Nigerians.

“By investing in these securities, citizens are also contributing to nation-building,” she said.

According to Mr Abiodun Fagbulu, the Chief Executive Officer, CSL Stockbrokers Limited, FGN securities help to finance deficits in the federal budget.

Fagbulu, who was represented by Mr Richard Akinmoladun, Head, Property Trading, CSL, said that FGN securities also helped in developing the domestic financial market.

“They are listed on the Nigerian Exchange Limited and FMDQ Securities Exchange Limited, and can be traded at any time.

“They also promote financial inclusion, and attract foreign investment into the domestic financial markets,” he said.

According to him, FGN securities are viable collateral that can be used to access loans from banks.

“They also help in the diversification of investment port to reduce risk and achieve growth in value,” he said.

The News Agency of Nigeria (NAN) reports that the awareness programme was innaugurated in Lagos in March, 2022.

It had also been held in Enugu, Ibadan, Kano, Yola, Umuahia, Gombe, Osogbo, Port Harcourt, Benin, Uyo, Asaba, Maiduguri, Abeokuta, and Makurdi. (NAN) (www.nannews.ng)

Edited by Ese E. Eniola Williams

By Salisu Sani-idris

Vice President Kashim Shettima and members of the National Economic Council are meeting at the presidential villa, Abuja for their monthly programme.

The meeting is chaired by Shettima and attended by state governors, ministers in charge of the finance budget, governor of the Central Bank of Nigeria and other co-opted government officials.

The NEC was established by the provisions of the Constitution of the Federal Republic of Nigeria, 1999, as amended; Section 153(1) and Paragraphs 18 & 19 of Part I of the Third Schedule.

The council has the mandate to “advise the President concerning the economic affairs of the Federation.

” And in particular on measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.”

Top on the agenda is the issue of ecological and security challenges in some parts of the country as well as taking of resolutions on economic matters.

The Council achieves its objectives working through ad hoc committees set up to perform specific tasks, after which they are dissolved.

While inaugurating the body in June, President Bola Tinubu charged the council to support his administration in transforming the economic fortunes of the country.

He stated that the task of growing the nation’s economy is quite enormous adding that there must be “no excuse for failure.”

Tinubu restated his administration’s commitment to delivering on its promises to Nigerians.

Governors in attendance include that of Kaduna, Bauchi, Ogun, Bayelsa, Kwara, Kogi, Jigawa and some deputy governors.(NAN)

Edited by Ismail Abdulaziz.

By Constance Athekame

The Rural Electrification Agency (REA) on Wednesday inaugurated an Energy Management System (EMS) Control Centre to host all mini-grids in the country to boost electricity access to Nigerians.

The project which reaffirms the Federal Government’s commitment towards increasing energy access to un-served and underserved areas nationwide was executed by REA and with support from Korean government through an In-Kind-Grant.

Speaking while inaugurating the project in Abuja, the Minister of Power, Mr Adebayo Adelabu, said that collaborations such as these would help bridge the gap between the served and the un-served.

Adebayo, represented by Mr Abubakar Ali-Dapshima, Director, Renewable Energy and Rural Power Access, Ministry of Power said the EMS was a testament to collective dedication to progress, efficiency, and empowerment of Nigerians.

According to him, the system will revolutionise the way the country manage and utilise energy data across its electrification programmes.

“For us, the EMS is not just a tool; it is a mechanism we plan to optimise to alleviate the existential problem of poor energy data in the nation’s energy space.

“It is a gateway to a future where data becomes a strategic asset in our pursuit of reliable, accessible, and sustainable energy.

“Most importantly, I must commend REA for deliberately drawing in partnerships, while forming alliances as an institution that serves as a solid entry point into the nation’s renewable energy space,” he said..

The minister said the partnership reaffirmed the need for all stakeholders in the power sector to stay on course in the optimisation of strategic collaboration for a common goal.

“I extend my deepest gratitude to the Korean Government for their invaluable support, a testament to the enduring partnership between our nations.

“This collaborative effort stands as a beacon of solidarity, showcasing how nations can come together to address shared challenges and create meaningful change,” he said.

It is the belief of the Federal Ministry of Power that these projects will be delivered on time and with the best standard for our people,’’ he said.

The Managing Director, REA, Ahmad Salihijo said: ’’the milestone achieved under the Korean Energy Project is a testament of the agency’s resolve to collaborate with development partners in delivering its mandate.

He said that the Memorandum of Understanding (MoU) between REA and Korean Government for the project was signed in 2023.

According to him, the actualisation of the project was made possible through the support of the Korean Government under the Official Development Assistance (ODA).

“The completion of this EMS coincides with the Electricity Act 2023 under section 154 (Monitoring of Rural Electrification Projects).

“It mandates the agency to put in place appropriate machinery for the monitoring of rural electrification implementation projects nationwide.

“This system represents a significant leap forward in our ability to capture and manage energy data across diverse electrification programmes within our nation and through the guidance of the Federal Ministry of Power.

“In a landscape where data is paramount, the EMS stands as a beacon of efficiency and transparency.

“It is a tool that will empower us to make informed decisions, optimize our energy resources, and enhance the impact of our electrification initiatives across Nigeria,” he said.

Salihijo said the system would seamlessly integrate with the agency’s existing programmes by providing real-time insights, and enabling us to navigate the dynamic energy landscape with precision

He said that .the system would further strengthen the agency’s collaboration with the Electricity Distribution Companies (DisCos) on the development, integration, monitoring and management of interconnected mini grids.

“I must emphasise the timeliness of this innovative intervention, coming at a time where the energy sector in Nigeria is once again going through a data-driven, transformative change through the visionary leadership of President Bola Tinubu.

“The Korean Ambassador to Nigeria, Mr Kim Young-Chae said that the Republic of South Korea made a commitment through the Official Development Assistance fund to support the Nigerian power sector particularly on the development of solar mini-grids,” he said.

Young-Chae represented by Mr Choi Won, First Secretary, Economic, Embassy of Korea said that Korea understands the role of solar power generation on energy access and climate resilience.

“Rural electrification requires unique granular data which is why the Government of Korea undertook the Integrated Energy Management System to enable efficient planning and design concepts.

“The EMS can host all mini-grids data hence will strengthen the position of REA on central coordination role.

“The Korean Government is also seeking to strengthen and promote its cooperation with the Nigerian Government for the prosperity of both nations,” he said. (NAN)(www.nannews.ng)

==========
Edited by Uche Anunne

By Okeoghene Akubuike

The Statistician-General of the Federation, Prince Adeyemi Adeniran, says Africa must harness the benefits of big data to achieve sustainable development.

Adeniran said this at a Public Lecture to mark the 2023 African Statistics Day celebration in Abuja on Wednesday.

The News Agency of Nigeria (NAN) reports that the theme of the 2023 African Statistics Day is; “Modernising Data Ecosystems to Accelerate the Implementation of the AfCFTA: The Role of Official Statistics and Big Data in the Economic Transformation and Sustainable Development of Africa”.

He said the theme underscored the importance of embracing new thinking, innovation, and leveraging the power of both traditional official statistics and emerging big data sources.

Adeniran said the term “big data” refers not only to the sheer volume of information generated daily but also to the diversity and speed at which this data is produced.

“From social media interactions and online transactions to sensor readings and satellite imagery, the sources of big data are vast and varied, creating a variety of information that when properly harnessed, provides unprecedented insights.’’

Adeniran said the strength of big data was in its ability to uncover patterns and trends that may remain hidden in traditional datasets.

“The sheer volume and diversity of these data sources allows us to paint a more detailed and nuanced picture of economic dynamics.’’

The statistician-general said in the context of the AfCFTA, big data could play a pivotal role in understanding and optimising trade patterns.

“Big data analytics can provide real-time insights into the movement of goods, changes in consumer behaviour, and emerging market trends, empowering policymakers, and businesses to make agile and well-informed decisions.’’

Furthermore, he said the integration of big data with official statistics enhanced the ability to assess the impact of policies on sustainable development.

“By analysing a broad spectrum of data, we can measure not only economic indicators but also the social and environmental dimensions of development.

“This holistic approach enables us to craft policies that not only stimulate economic growth but also address societal challenges and promote environmental sustainability.

Adeniran said in essence, the synergy between big data and official statistics opened new frontiers of knowledge and understanding.

“As we navigate the intricacies of the AfCFTA and work towards sustainable development, the judicious use of big data alongside traditional statistical methods empowers us to make informed, anticipatory, adaptive, and impactful decisions.

Mr Obiara Obiabumo, the Statistician-General of Anambra state, pledged to continue to support the NBS and the statistical family to meet the nation’s statistical needs.

Prof. Sarah Anyanwu, the Professor of Economics, University of Abuja, said data was vital in achieving national development objectives in Nigeria such as poverty and unemployment reduction.

“We need data to address inflation, and bridge the infrastructural deficit, we need data in the health, agric, and education sectors.’’

Anyanwu called on the government at all levels to adequately budget for data collation, and analysis to achieve sustainable development in Nigeria.

Dr Godday Ebuh, the National President, Chartered Institute of Statisticians of Nigeria, called on the national assembly to increase its budgetary allocation to NBS, saying conducting surveys was an expensive venture.

Ebuh said one of the objectives of AfCTA was to progressively eliminate tariffs and non-tariff barriers to trade in goods.

“Therefore, if statistics is modernised, documentation of trade could be carried out faster.’’

He commended the National Bureau of Statistics (NBS) for using big data and empowering its field officers with the needed technology to perform their functions.

NAN reports that the African Statistics Day is an annual event celebrated on Nov. 18 to raise public awareness of the importance of statistics in all aspects of social and economic life. (NAN) www.nannews.ng

Edited by Ese E. Eniola Williams