By Rukayat Moisemhe

The Nigerian Indonesian Chamber of Commerce (NICCI) has called on Indonesian businesses to harness the exportable opportunities of the Nigerian non-oil economy, to enhance bilateral trade between both countries.

Mr Ishmael Balogun, NICCI President, made the call at a news conference on Friday in Lagos to detail the forthcoming Nigerian Indonesian Investment and Trade Forum (NIITF) 2024 event in Abuja.

Balogun said that sectors of the economy in focus for the forum were agriculture, renewable energy, power generation, manufacturing, mining, transportation, infrastructure development, oil, aviation, digital economy and health.

He said that the event, which was scheduled for June 3, 2024, was an opportunity for Indonesia to meet in Nigeria and expand bilateral trade and investment between both countries.

The president noted that Nigeria, as the number one investment destination in Africa, was currently also Indonesia’s number one trading partner in the continent with a trade balance of 4.7 billion dollars as at 2022.

According to Balogun, the chamber is intentional about the continuous promotion and engagement between the two countries either through trade forums, trade fairs, bilateral symposiums and deliberations.

“This year, we have decided to bring Indonesians to experience Nigeria in its full entirety.

“We have partnered with the Indonesian Embassy in Nigeria under the leadership of the Indonesian Ambassador to Nigeria, His Excellency, Amb. Dr. Usra Hendra Harahap.

“This partnership, in collaboration with the Indonesian government through the Ministry of Trade and Foreign Affairs has invited 70 Indonesian companies to Nigeria.

“The year’s edition starts with a five-day trade exposition taking place in Kano from May 27 to 31, and several products and services will be on display, thereby promoting bilateral trade opportunities.

“Next is the main event on June 3 in Abuja; the 3rd edition of the NIITF, and we have partnered with several government and private sector-led organisations to explore the opportunities in the non-oil sector,” he said.

Also, Ms Teniola Jibike, Special Adviser, Policy and Legal Services to the Minister of Tourism, Lola Ade-John, stated interest in exploring the tourism opportunities between both countries.

According to her, before the end of the current administration, the Nigerian tourism sector would wear a new look as many tourism assets, which before now had not been explored before, would now be addressed.

She added that the creation of a stand-alone ministry of tourism would help to focus better on the sector and increase its contribution to the Gross Domestic Product (GDP) of the economy.

Similarly, Mr Emmanuel Lingga, Representative of Indonesia to Nigeria, said Indonesian businesses coming to Nigeria were eager to explore opportunities in automotive, beverages, confectionery, pharmaceuticals and other sectors.

Lingga said Indonesia would export Nigeria’s tourism, while Nigeria imports Indonesia’s as a means of increasing awareness of both countries’ tourism potentials. (NAN) (www.nannews.ng)

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Edited by Ayodeji Alabi/Olawunmi Ashafa

By Constance Athekame

The African Development Bank (AfDB) says it plans to support Nigeria’s power sector with one billion dollars to boost electricity.

Dr Kevin Kariuki, Vice President, Power, Energy, Climate Change and Green Growth Complex, AfDB, said this on Thursday at the Eight Africa Energy MarketPlace (AEMP) Forum in Abuja.

The forum was organised by AfDB, Ministry of Power and the United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF).

The theme of the forum titled “Towards Nigeria’s Sustainable Energy Future: Policy, Regulation and Investment – A Policy Dialogue for the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP)”.

Kariuki said: “We will be shortly seeking board approval for a one billion dollars policy-based operation (PBO) with a significant energy component.

“This is aimed at supporting the ongoing power sector reforms triggered by the new Electricity Act.

“The timing of the AEMP and the proposed policy-based lending focused on the energy sector is, therefore, not coincidental.

“We will finance the policy recommendations to actualise the expected outcomes from the National Integrated Electricity Policy and Strategic Implementation Plan.”

He said that good policies attracted sustainable investments, adding that enabling environment would maximise the value of ongoing investments, including the 256.2 million dollars Nigeria Transmission Expansion Project.

According to him, the project entailed the construction of 500 Kilometres (KM) of transmission lines and four substations with a capacity of over 1000 Mega Volt Ampree (MVA).

“And the 200 million dollars Nigeria Electrification Project, which will build 150 mini-grids.

“Moreover, we are financing a study for the Transmission Company of Nigeria (TCN) to explore deployment of Battery Energy Storage Systems to enhance grid stability and facilitate greater uptake of renewable energy generation.

“Nigeria is part of our flagship 20 billion dollars Desert to Power Initiative, which aims to generate 10,000 Megawatts (MW) of solar power across 11 countries in the Sahel region to provide power to 250 million Africans.”

According to AfDB vice president, this portends great promise for increasing the proportion of renewable energy in Nigeria’s energy mix.

He said that through the multi-prong approach of supporting policy development, financing critical power sector infrastructure, and providing technical assistance and capacity building would be achieved.

“We strongly believe that our partnership with the Federal Government will ensure a viable and sustainable power sector that will yield the desired result,” he said.

On his part, the Minister of Power, Mr Adebayo Adelabu, said the NIEP-SIP would serve as a guiding blueprint for Nigeria’s energy development.

He said that Section 3 (1) of the Electricity Act, 2023, mandated the Ministry of Power to draft and publish, in the Federal Government Gazette, the Nigerian Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP).

Adelabu said the Act directed the ministry to do this in consultation with relevant government authorities and other stakeholders within one year of the commencement.

According to him, the NIEP-SIP will serve as a guiding blueprint for Nigeria’s energy development, addressing areas such as rural electrification, public-private partnerships for universal electricity access.

“Power-source specific policies, bulk power purchase, and management of local distribution in rural areas, among other pertinent aspects as directed by the Federal Government.

“In alignment with this legal mandate, the ministry of power has initiated the development of the NIEP-SIP, as required by EA-2023, aiming to address industry challenges and capitalising on opportunities identified during a comprehensive two-day retreat in December.

“I strongly believe and hope that through this collaboration, the Federal Government will leverage the opportunity provided by this AEMP to engage with stakeholders in the sector.”

The minister added that the collaboration would also facilitate the realisation of the goals of the mandate of section Three of the Electricity Act, 2023.

Mr Lamin Barrow, Director-General, Nigeria Country Department, AfDB said that the event was timely, coming in the wake of the ongoing rollout of the 2023 Electricity Act.

Barrow said the event also provided a unique opportunity to contribute to the preparation of the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP), in line with the requirements of the new Electricity Act.

“As part of the AEMP, several technical sessions were held virtually that generated a raft of recommendations across key areas, including recapitalisation of the Nigerian Electricity Supply Industry (NESI).

“Reform of the National Wholesale Electricity Market, operationalisation of State-level electricity markets, accelerating Universal Access, promoting a Just Energy Transition, enhancing human capital and national content development.

“We wish to commend the experts for their contributions at these technical sessions and urge participants to share their insights and experience in the two-day sessions to inform the action place emanating from the Eight AEMP,” he said. (NAN)(www.nannews.ng)

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Edited by Chioma Ugboma/Deji Abdulwahab

By Vivian Emoni

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), in collaboration with Joint Admission and Matriculation Board (JAMB), on Thursday conducted 2024 staff promotion exercise for senior officers of the commission with Computer-Based Test (CBT).

The News Agency of Nigeria (NAN) reports that the officers who participated in the examination in Abuja included those on Grade Levels 14, 15 and 16 who had met the basic requirements.

Mr Ntufam Nsa, Commissioner representing Cross River State in the commission, said that the examination took place at the JAMB Professional Test Centre in Bwari, using the newly introduced CBT examination format.

Nsa, also Chairman of the Personnel Matters Committee, said that the decision to conduct the examination with the CBT in conjunction with JAMB, was based on Plenary Session decision.

He said that the essence of the CBT was to test the staff’s ability to discharge their duties in light of the organisation’s sensitive role.

“The essence of the exercise is to test the competence of our officers, knowing that the RMAFC is a strategic commission that is in charge of revenue monitoring, evaluation and implementation of policies.

“We had to do this exercise to test the competence of our officers, their professional competence, their abilities and their knowledge on the rules and regulations,” he said.

The Secretary to the Board of the Commission, Mr Nwaze Okechukwu, expressed satisfaction with the exercise and the good conduct of the candidates.

Okechukwu said that the decision to replace the orthodox method of conducting exams with the CBT method was to move the commission to greater heights.

“I am confident in the success of the exam, and I believe that future promotion exams will continue to be computer-based.

“I am pleased with the staff’s well conduct, and I believe that at the end of the day, all the participants will be happy with the innovation,” he said.

Mrs Funmilola P-Usman, Acting Director Information Communication Technology (ICT) Department, JAMB, said that her organisation was committed to collaborating with both private and public agencies.

P-Usman expressed happiness over the collaboration with RMAFC and wished the participants success.

“I hope we were able to satisfy your needs because exam delivery is our business and that is what we have been doing for years.

“We just thank God that we have been living up to expectations,” she said.

One of the participants, who spoke on behalf of others, Mr Bashiru Aliyu, thanked the commission for giving them the opportunity to test their intellectual capacities.

“I feel so proud that I took part in the computer-based exam. I believe I am going to make it.

“I wish the commission the best of everything, and I wish my colleagues the best of luck,” he said. (NAN)(www.nannews.ng)

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Edited by Vivian Ihechu

By Okeoghene Akubuike

The African Export-Import Bank (Afreximbank) says it has concluded arrangements for a facility of 250 million dollars with the International Islamic Trade Finance Corporation (ITFC) in support of trade and projects in Africa.

This is contained in a statement issued by Vincent Musumba, Media Relations Manager, Afreximbank, in Abuja on Friday.

Masumba said Afreximbank also concluded arrangements for a facility of 100 million dollars with the Islamic Corporation for Development of the Private Sector (ICD).

He said the arrangements were concluded on the sidelines of the recently concluded 2024 Islamic Development Bank (IsDB) Group Annual Meetings and Golden Jubilee Celebrations.

Masumba said the lines of financing expected from ICD would strengthen Afreximbank’s capacity and reinforce its intervention in the private sector, particularly for enterprises with substantial development impact in ICD and Afreximbank’s member states.

He said the facility from ITFC on the other hand, would provide Compliant Syndicated trade financing line thereby complementing the bank’s trade finance offerings to its clients.

“As partners of the Arab Africa Trade Bridges (AATB) Programme, Afreximbank, ITFC, and ICD are committed to promoting south-to-south trade among African and Arab countries for a common goal.

“ A goal of advancing socio-economic prosperity and building sustainable trade and development across the regions.

“The collective support from ITFC and ICD will also allow the bank to deliver on its continental mandate of fostering industrialisation, developing exports, and full implementation of the African Continent Free Trade Area (AfCFTA).”

Masumba quoted Prof. Oramah, President and Chairman of the Board of Directors of Afreximbank, as saying:

“I take this opportunity to thank Engineer Hani Salem Sonbol and the entire team at ITFC and ICD for the continued partnership with Afreximbank.

“The arrangements we have entered into today with the two institutions will go a long way in supporting Afreximbank in addressing the funding and structural challenges that stand in the way of Africa’s integration agenda.”

Masumba said ITFC is a member of the IsDB Group established with the primary objective of advancing trade among Organisation of Islamic Cooperation (OIC) member countries.

He said the ICD is a multilateral development financial institution that supports the economic development of its member countries, based in Jeddah, ICD is a part of the IsDB Group and was established in November 1999.

“With an authorised capital of four billion dollars, ICD’s shareholders include the IsDB, 56 Islamic countries, and five public financial institutions.” (NAN)(www. nannews.ng)

edited by Sadiya Hamza