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  •   Leading mobile service provider MTN in Zambia has launched its fifth generation 5G mobile network which will enable consumers to have indestructible fast internet speed The network launched Thursday will also allow signal carriers to transfer data at high speeds and users to download large files of any type faster than before without network interference Carried out in partnership with Chinese ICT giant Huawei the network was initially put to the test in January this year Zambian President Hakainde Hichilema praised MTN and Huawei for making Zambia s first 5G network possible He said that 5G is in line with the government s digital agenda to catch up with technological advances and transform the economy adding that the speed that comes with the 5G network will transform the way business is conducted as it will improve the communication and service delivery Phil Li Huawei s vice president for the Southern Africa region praised MTN for being the 5G market leader in Zambia He reiterated Huawei s long term commitment to the partnership the two companies have enjoyed for years The Minister of Technology and Science F lix Mutati said that the 5G network will greatly contribute to transforming people s lives because they will have access to high speed Internet Yolanda Cuba Vice President for the South and East Africa Region of MTN Group thanked Huawei and other partners for making the launch a reality Xinhua
    Huawei-supported 5G network launched in Zambia-
      Leading mobile service provider MTN in Zambia has launched its fifth generation 5G mobile network which will enable consumers to have indestructible fast internet speed The network launched Thursday will also allow signal carriers to transfer data at high speeds and users to download large files of any type faster than before without network interference Carried out in partnership with Chinese ICT giant Huawei the network was initially put to the test in January this year Zambian President Hakainde Hichilema praised MTN and Huawei for making Zambia s first 5G network possible He said that 5G is in line with the government s digital agenda to catch up with technological advances and transform the economy adding that the speed that comes with the 5G network will transform the way business is conducted as it will improve the communication and service delivery Phil Li Huawei s vice president for the Southern Africa region praised MTN for being the 5G market leader in Zambia He reiterated Huawei s long term commitment to the partnership the two companies have enjoyed for years The Minister of Technology and Science F lix Mutati said that the 5G network will greatly contribute to transforming people s lives because they will have access to high speed Internet Yolanda Cuba Vice President for the South and East Africa Region of MTN Group thanked Huawei and other partners for making the launch a reality Xinhua
    Huawei-supported 5G network launched in Zambia-
    Foreign1 week ago

    Huawei-supported 5G network launched in Zambia-

    - Leading mobile service provider MTN in Zambia has launched its fifth generation (5G) mobile network which will enable consumers to have indestructible fast internet speed.

    The network launched Thursday will also allow signal carriers to transfer data at high speeds and users to download large files of any type faster than before without network interference.

    Carried out in partnership with Chinese ICT giant Huawei, the network was initially put to the test in January this year.

    Zambian President Hakainde Hichilema praised MTN and Huawei for making Zambia's first 5G network possible.

    He said that 5G is in line with the government's digital agenda to catch up with technological advances and transform the economy, adding that the speed that comes with the 5G network will transform the way business is conducted as it will improve the communication and service delivery. .

    Phil Li, Huawei's vice president for the Southern Africa region, praised MTN for being the 5G market leader in Zambia. He reiterated Huawei's long-term commitment to the partnership the two companies have enjoyed for years.

    The Minister of Technology and Science, Félix Mutati, said that the 5G network will greatly contribute to transforming people's lives because they will have access to high-speed Internet.

    Yolanda Cuba, Vice President for the South and East Africa Region of MTN Group, thanked Huawei and other partners for making the launch a reality. ■



    (Xinhua)

  •   On its participation in AfricaCom the African trade show dedicated to digital technology the Digital Virgo group www DigitalVirgo com a global specialist in payment via telecom operators bills and mobile money announced that its customized payment platform has provided 25 million Africans with access to digital content and services in 2022 With a presence in about fifteen African countries the Digital Virgo group took part in the AfricaCom in Cape Town the continent s leading digital event and presented the latest developments in its offerings The group s management including the CEO Guillaume Briche and Mounia Terhzaz Africa General Manager gave an overview of the development of their activities on the continent and reported that they had succeeded in deploying their payment solutions to 25 million people At a time when Digital Virgo is multiplying its partnerships with leading merchants on the continent Universal Music Youscribe OSN and connecting them to the billing systems of the continent s main telecom operators Orange Vodacom MTN this announcement confirms the relevance of its solutions We are very proud to have succeeded in building an offer adapted to the African markets Thanks to our payment solutions millions of people are accessing digital services and content that were previously only available to bank account holders commented Guillaume Briche CEO of Digital Virgo The group will also be attending the Salon des Industries Musicales d Afrique francophone SIMA on November 17 and 18 in Abidjan
    At AfricaCom, Digital Virgo announces that it enabled 25 million people to access digital content and services in Africa in 2022
      On its participation in AfricaCom the African trade show dedicated to digital technology the Digital Virgo group www DigitalVirgo com a global specialist in payment via telecom operators bills and mobile money announced that its customized payment platform has provided 25 million Africans with access to digital content and services in 2022 With a presence in about fifteen African countries the Digital Virgo group took part in the AfricaCom in Cape Town the continent s leading digital event and presented the latest developments in its offerings The group s management including the CEO Guillaume Briche and Mounia Terhzaz Africa General Manager gave an overview of the development of their activities on the continent and reported that they had succeeded in deploying their payment solutions to 25 million people At a time when Digital Virgo is multiplying its partnerships with leading merchants on the continent Universal Music Youscribe OSN and connecting them to the billing systems of the continent s main telecom operators Orange Vodacom MTN this announcement confirms the relevance of its solutions We are very proud to have succeeded in building an offer adapted to the African markets Thanks to our payment solutions millions of people are accessing digital services and content that were previously only available to bank account holders commented Guillaume Briche CEO of Digital Virgo The group will also be attending the Salon des Industries Musicales d Afrique francophone SIMA on November 17 and 18 in Abidjan
    At AfricaCom, Digital Virgo announces that it enabled 25 million people to access digital content and services in Africa in 2022
    Africa3 weeks ago

    At AfricaCom, Digital Virgo announces that it enabled 25 million people to access digital content and services in Africa in 2022

    On its participation in AfricaCom, the African trade show dedicated to digital technology, the Digital Virgo group (www.DigitalVirgo.com), a global specialist in payment via telecom operators' bills and mobile money, announced that its customized payment platform has provided 25 million Africans with access to digital content and services in 2022.

    With a presence in about fifteen African countries, the Digital Virgo group took part in the AfricaCom in Cape Town, the continent's leading digital event, and presented the latest developments in its offerings.

    The group's management, including the CEO, Guillaume Briche, and Mounia Terhzaz, Africa General Manager, gave an overview of the development of their activities on the continent, and reported that they had succeeded in deploying their payment solutions to 25 million people.

    At a time when Digital Virgo is multiplying its partnerships with leading merchants on the continent (Universal Music, Youscribe, OSN...) and connecting them to the billing systems of the continent's main telecom operators (Orange, Vodacom, MTN...), this announcement confirms the relevance of its solutions.

    "We are very proud to have succeeded in building an offer adapted to the African markets.

    Thanks to our payment solutions, millions of people are accessing digital services and content that were previously only available to bank account holders," commented Guillaume Briche, CEO of Digital Virgo.

    The group will also be attending the Salon des Industries Musicales d'Afrique francophone (SIMA) on November 17 and 18 in Abidjan.

  •  The Minister of Youth and Social Development Mt Sunday Dare has urged more youths to apply for the National Youth Investment Fund NYIF The News Agency of Nigeria reports that the is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths Dare made the call in Abuja at the 2022 Youth Day with the theme Breaking Barriers to Meaningful Participation and Inclusion in Advocacy NAN reports that the celebration is also with the sub theme Bridging the Inter generational Gap to Annex Youth Potentials The minister said the theme provided an ample opportunity to critically look into and address issues which have continued to hinder the youths pursuit of a secured role in decision making He said it also impacted especially on issues which directly affected them and how to leverage on the experiences garnered from the older generations According to him the NYIF initiative will allow youths to bring up creative ideas which government can support with small loans On the day of the national youth day if you have not heard before please hear it loud and clear we still have N25 million to give to our youths for the programmes When we announce the opening of the portal you have to apply and go through the processes unless you do that you will not benefit We will announce in due time when the portal will be open Dare said He said no country that has been able to solve the youths unemployment problem without deliberately placing its youth on the part of entrepreneurship The minister called on youths to take advantage of the programme to achieve development entrepreneurship and skills acquisition He said that government had trained more than 250 thousand youths in digital skills in the last few years Dare said that there were almost 200 digital skills globally but the country consecrated on fifteen different digital skills to empower the youths by investing in their ideas He said that government came up with an MTN programmes called training into enterprise According to him the youths are trained and given money instrument tools to start up their businesses Government s unflinching resolve to passionately address youth related issues with the aim of placing Nigerian youths on the path of career development entrepreneurship skills acquisition and direct employment The government concluded to achieve such through such lofty programmes called the National Youth Investment Fund an initiative that allows youths to bring up creative ideas that government supports with small loans Through this programme many youths have started doing small businesses instead of waiting for white collar jobs he said According to him it is the belief that facilitating youth inclusion enables the mobilisation of the new generation as an economic and social resource which can directly contribute to sustaining the stability and economic growth of Nigeria He said that the ministry found out that more than three hundred and fifty thousand jobs are available for young cyber security experts Dare said the ministry partnered with Halogen Group to train the youths on cyber security adding that the group had trained thirty one thousand youths on cyber security Also speaking Mr Wale Adeagbo the Chief Operating Officer of Halogen Group said the group s focus was to provide security Adeagbo said that the country had the challenge of cyber insecurity and that the group was ready to carry out free online cyber security training for youths in Nigeria We know that currently over 36 per cent of Nigerians as seen on social media on the Internet We also know unfortunately that over 86 per cent of our businesses are prone to cyber attacks so we need more specialties and competencies he said According to him more young people are needed to be equipped to be part and parcel of this cyber security training as the market is growing massively It s been projected that we are going to have by the end of 2022 more than 3 5 million vacancies globally for people with cyber security competencies he said NAN reports that the NYIF aims to reach 500 000 youth annually between 2020 and 2023 Each fund approval ranges from N250 000 to N50 000 000 with a spread across group applications individual applications working capital loans set at one year and term loans set at three years with single digit interest rate of five per cent NAN reports that Dare said that no fewer than 6 054 Youths have so far benefited from the NYIF receiving between N250 000 to N3 million each NewsSourceCredit NAN
    Dare urges more youths to apply for FG’s investment fund
     The Minister of Youth and Social Development Mt Sunday Dare has urged more youths to apply for the National Youth Investment Fund NYIF The News Agency of Nigeria reports that the is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths Dare made the call in Abuja at the 2022 Youth Day with the theme Breaking Barriers to Meaningful Participation and Inclusion in Advocacy NAN reports that the celebration is also with the sub theme Bridging the Inter generational Gap to Annex Youth Potentials The minister said the theme provided an ample opportunity to critically look into and address issues which have continued to hinder the youths pursuit of a secured role in decision making He said it also impacted especially on issues which directly affected them and how to leverage on the experiences garnered from the older generations According to him the NYIF initiative will allow youths to bring up creative ideas which government can support with small loans On the day of the national youth day if you have not heard before please hear it loud and clear we still have N25 million to give to our youths for the programmes When we announce the opening of the portal you have to apply and go through the processes unless you do that you will not benefit We will announce in due time when the portal will be open Dare said He said no country that has been able to solve the youths unemployment problem without deliberately placing its youth on the part of entrepreneurship The minister called on youths to take advantage of the programme to achieve development entrepreneurship and skills acquisition He said that government had trained more than 250 thousand youths in digital skills in the last few years Dare said that there were almost 200 digital skills globally but the country consecrated on fifteen different digital skills to empower the youths by investing in their ideas He said that government came up with an MTN programmes called training into enterprise According to him the youths are trained and given money instrument tools to start up their businesses Government s unflinching resolve to passionately address youth related issues with the aim of placing Nigerian youths on the path of career development entrepreneurship skills acquisition and direct employment The government concluded to achieve such through such lofty programmes called the National Youth Investment Fund an initiative that allows youths to bring up creative ideas that government supports with small loans Through this programme many youths have started doing small businesses instead of waiting for white collar jobs he said According to him it is the belief that facilitating youth inclusion enables the mobilisation of the new generation as an economic and social resource which can directly contribute to sustaining the stability and economic growth of Nigeria He said that the ministry found out that more than three hundred and fifty thousand jobs are available for young cyber security experts Dare said the ministry partnered with Halogen Group to train the youths on cyber security adding that the group had trained thirty one thousand youths on cyber security Also speaking Mr Wale Adeagbo the Chief Operating Officer of Halogen Group said the group s focus was to provide security Adeagbo said that the country had the challenge of cyber insecurity and that the group was ready to carry out free online cyber security training for youths in Nigeria We know that currently over 36 per cent of Nigerians as seen on social media on the Internet We also know unfortunately that over 86 per cent of our businesses are prone to cyber attacks so we need more specialties and competencies he said According to him more young people are needed to be equipped to be part and parcel of this cyber security training as the market is growing massively It s been projected that we are going to have by the end of 2022 more than 3 5 million vacancies globally for people with cyber security competencies he said NAN reports that the NYIF aims to reach 500 000 youth annually between 2020 and 2023 Each fund approval ranges from N250 000 to N50 000 000 with a spread across group applications individual applications working capital loans set at one year and term loans set at three years with single digit interest rate of five per cent NAN reports that Dare said that no fewer than 6 054 Youths have so far benefited from the NYIF receiving between N250 000 to N3 million each NewsSourceCredit NAN
    Dare urges more youths to apply for FG’s investment fund
    General news1 month ago

    Dare urges more youths to apply for FG’s investment fund

    The Minister of Youth and Social Development, Mt Sunday Dare, has urged more youths to apply for the National Youth Investment Fund (NYIF).

    The News Agency of Nigeria reports that the is a government initiative created to boost the Nigerian economy through leverage and access to finance for youths.

    Dare made the call in Abuja, at the 2022 Youth Day with the theme “Breaking Barriers to Meaningful Participation and Inclusion in Advocacy”.

    NAN reports that the celebration is also with the sub-theme “Bridging the Inter-generational Gap to Annex Youth Potentials”.

    The minister said the theme provided an ample opportunity to critically look into and address issues which have continued to hinder the youths’ pursuit of a secured role in decision-making.

    He said it also impacted especially on issues which directly affected them, and how to leverage on the experiences garnered from the older generations.

    According to him, the NYIF initiative will allow youths to bring up creative ideas which government can support with small loans.

    “On the day of the national youth day, if you have not heard before, please hear it loud and clear, we still have N25 million to give to our youths for the programmes.

    “When we announce the opening of the portal, you have to apply and go through the processes unless you do that, you will not benefit.

    “We will announce in due time when the portal will be open,’’ Dare said.

    He said no country that has been able to solve the youths’ unemployment problem without deliberately placing its youth on the part of entrepreneurship.

    The minister called on youths to take advantage of the programme to achieve development, entrepreneurship and skills acquisition He said that government had trained more than 250 thousand youths in digital skills in the last few years.

    Dare said that there were almost 200 digital skills globally but the country consecrated on fifteen different digital skills to empower the youths by investing in their ideas.

    He said that government came up with an MTN programmes called training into enterprise.

    According to him, the youths are trained and given money, instrument tools to start up their businesses.

    “Government’s unflinching resolve to passionately address youth-related issues with the aim of placing Nigerian youths on the path of career development, entrepreneurship, skills acquisition and direct employment.

    “The government concluded to achieve such through such lofty programmes called the National Youth Investment Fund, an initiative that allows youths to bring up creative ideas that government supports with small loans.

    “Through this programme, many youths have started doing small businesses instead of waiting for white collar jobs,’’ he said.

    According to him, it is the belief that, facilitating youth inclusion enables the mobilisation of the new generation as an economic and social resource, which can directly contribute to sustaining the stability and economic growth of Nigeria.

    He said that the ministry found out that more than three hundred and fifty thousand jobs are available for young cyber security experts.

    Dare said the ministry partnered with Halogen Group to train the youths on cyber security, adding that the group had trained thirty-one thousand youths on cyber security Also speaking, Mr Wale Adeagbo, the Chief Operating Officer of Halogen Group said the group’s focus was to provide security.

    Adeagbo said that the country had the challenge of cyber insecurity and that the group was ready to carry out free online cyber security training for youths in Nigeria.

    “We know that currently over 36 per cent of Nigerians as seen on social media on the Internet.

    “We also know unfortunately, that over 86 per cent of our businesses are prone to cyber-attacks so we need more specialties and competencies,’’ he said.

    According to him, more young people are needed to be equipped to be part and parcel of this cyber security training as the market is growing massively.

    “It’s been projected that we are going to have by the end of 2022 more than  3.5 million vacancies globally for people with cyber security competencies,’’ he said.

    NAN reports that the NYIF aims to reach 500,000 youth annually between 2020 and 2023. Each fund approval ranges from N250, 000 to N50, 000,000, with a spread across group applications, individual applications, working capital loans set at one year and term loans set at three years with single digit interest rate of five per cent.

    NAN reports that Dare said that no fewer than 6,054 Youths have so far benefited from the NYIF, receiving between N250,000 to N3 million each. 


    NewsSourceCredit: NAN

  •   Odoo https www Odoo com chose Kenya to establish its first African office the start of operations was on July 1 2022 With already 30 employees to date they are expected to join up to 50 new colleagues new office within a year Several new software features have been implemented to address the specific needs of SMEs in Kenya and Africa 2022 marks the beginning of a new chapter for the Odoo software editor The company is opening its first office in Africa and has chosen Nairobi to establish its local headquarters As with all Odoo subsidiaries the goals are ambitious on all fronts recruitment customer and prospect management expected revenue new features Buckle up Earlier this year Patrick Lukusa was appointed Director of Odoo KE LTD the new subsidiary of Odoo SA opening in Africa Within a few weeks the company was incorporated a fully equipped office was rented in Nairobi and the recruitment began The goal was to start activities on July 1 with a staff of 15 new colleagues sales consultants and business analysts It was very important for us to open this new office and 2022 was the year to do it We wanted to be closer to our customers and target them locally with local talent which is something we can t do from afar says Fabien Pinckaers CEO and founder of Odoo SA Odoo SA already had a customer base in Africa Its suite of business applications is used by more than 7 5 million users worldwide but it lacked local presence and support In addition SMEs are facing new challenges and cannot continue to operate as they did 10 or 20 years ago Digitization can no longer be ignored Today an SME in Nairobi or Abidjan faces the same challenges as one in Sydney Madrid or Mexico in terms of increasing efficiency We want to equip these SMEs with a modern and fully integrated set of business applications that can meet their needs at a reasonable cost and increase their competitiveness explains Patrick Lukusa Director of Odoo KE LTD To ensure its ability to address the needs of the market Odoo KE LTD is already announcing several new features designed specifically for Kenya Kenya Account Chart new e commerce acquirers that accept payment methods such as credit cards debit cards money mobile Mpesa Airtel MTN etc across Africa Kenyan payroll and KRA TIMS integration coming soon In addition several new colleagues have been recruited trained and have already started work at the new office on Chiromo Lane Westlands Whats Next Several targets have been set for Odoo KE LTD one of which is to achieve a turnover of 250 million Kenyan shillings equivalent to 2 million euros in the first year
    The first months of Odoo in Kenya
      Odoo https www Odoo com chose Kenya to establish its first African office the start of operations was on July 1 2022 With already 30 employees to date they are expected to join up to 50 new colleagues new office within a year Several new software features have been implemented to address the specific needs of SMEs in Kenya and Africa 2022 marks the beginning of a new chapter for the Odoo software editor The company is opening its first office in Africa and has chosen Nairobi to establish its local headquarters As with all Odoo subsidiaries the goals are ambitious on all fronts recruitment customer and prospect management expected revenue new features Buckle up Earlier this year Patrick Lukusa was appointed Director of Odoo KE LTD the new subsidiary of Odoo SA opening in Africa Within a few weeks the company was incorporated a fully equipped office was rented in Nairobi and the recruitment began The goal was to start activities on July 1 with a staff of 15 new colleagues sales consultants and business analysts It was very important for us to open this new office and 2022 was the year to do it We wanted to be closer to our customers and target them locally with local talent which is something we can t do from afar says Fabien Pinckaers CEO and founder of Odoo SA Odoo SA already had a customer base in Africa Its suite of business applications is used by more than 7 5 million users worldwide but it lacked local presence and support In addition SMEs are facing new challenges and cannot continue to operate as they did 10 or 20 years ago Digitization can no longer be ignored Today an SME in Nairobi or Abidjan faces the same challenges as one in Sydney Madrid or Mexico in terms of increasing efficiency We want to equip these SMEs with a modern and fully integrated set of business applications that can meet their needs at a reasonable cost and increase their competitiveness explains Patrick Lukusa Director of Odoo KE LTD To ensure its ability to address the needs of the market Odoo KE LTD is already announcing several new features designed specifically for Kenya Kenya Account Chart new e commerce acquirers that accept payment methods such as credit cards debit cards money mobile Mpesa Airtel MTN etc across Africa Kenyan payroll and KRA TIMS integration coming soon In addition several new colleagues have been recruited trained and have already started work at the new office on Chiromo Lane Westlands Whats Next Several targets have been set for Odoo KE LTD one of which is to achieve a turnover of 250 million Kenyan shillings equivalent to 2 million euros in the first year
    The first months of Odoo in Kenya
    Africa1 month ago

    The first months of Odoo in Kenya

    Odoo (https://www.Odoo.com/) chose Kenya to establish its first African office, the start of operations was on July 1, 2022.

    With already 30 employees to date, they are expected to join up to 50 new colleagues.

    new office within a year!

    Several new software features have been implemented to address the specific needs of SMEs in Kenya and Africa.

    2022 marks the beginning of a new chapter for the Odoo software editor!

    The company is opening its first office in Africa and has chosen Nairobi to establish its local headquarters.

    As with all Odoo subsidiaries, the goals are ambitious on all fronts: recruitment, customer and prospect management, expected revenue, new features...

    Buckle up!

    Earlier this year, Patrick Lukusa was appointed Director of Odoo KE LTD, the new subsidiary of Odoo SA opening in Africa.

    Within a few weeks, the company was incorporated, a fully equipped office was rented in Nairobi, and the recruitment began!

    The goal was to start activities on July 1 with a staff of 15 new colleagues (sales consultants and business analysts)!

    “It was very important for us to open this new office and 2022 was the year to do it.

    We wanted to be closer to our customers and target them locally, with local talent, which is something we can't do from afar."

    says Fabien Pinckaers, CEO and founder of Odoo SA Odoo SA already had a customer base in Africa.

    Its suite of business applications is used by more than 7.5 million users worldwide, but it lacked local presence and support.

    In addition, SMEs are facing new challenges and cannot continue to operate as they did 10 or 20 years ago.

    “Digitization can no longer be ignored.

    Today, an SME in Nairobi or Abidjan faces the same challenges as one in Sydney, Madrid or Mexico in terms of increasing efficiency.

    We want to equip these SMEs with a modern and fully integrated set of business applications that can meet their needs at a reasonable cost and increase their competitiveness”, explains Patrick Lukusa, Director of Odoo KE LTD.

    To ensure its ability to address the needs of the market, Odoo KE LTD is already announcing several new features designed specifically for Kenya: Kenya Account Chart, new e-commerce acquirers that accept payment methods such as credit cards, debit cards, money mobile (Mpesa, Airtel, MTN, etc.) across Africa, Kenyan payroll, and KRA TIMS integration (coming soon).

    In addition, several new colleagues have been recruited, trained and have already started work at the new office on Chiromo Lane, Westlands.

    Whats Next?

    Several targets have been set for Odoo KE LTD, one of which is to achieve a turnover of 250 million Kenyan shillings (equivalent to 2 million euros) in the first year.

  •   Gov Ifeanyi Ugwuanyi of Enugu State has assured youths of his administration commitment to uplifting creativity and talent through various platforms Ugwuanyi gave the assurance on Saturday evening at the grand finale and award night of the 2022 Edition of Life In My City Art Festival LIMCAF which was themed Paradox of Muted Echoes The governor represented by the Commissioner for Lands Chief Chidi Aroh noted that the state government would continue to give hope to the youth by supporting their creativity talent and zeal in order to bring out their best According to him as a government we will continue to create enabling environment for creativity of our youths to be heard and seen clearly and sustain our support for various platforms in this direction The state government will continue to support the youth creativity and this particular festival to achieve greater heights since it serves as a spring board to showcase their artistic creativity to the entire world I will want to commend the organisers for making this festival an annual one since 2007 and taking pains and resources to teach and bring the very best out of our talented youths he said Speaking the Obi of Onitsha Igwe Nnaemeka Achebe urged the youth to be hard working and determined to get to the zenith of anything they had passion as there lies the future for you Achebe thanked the sponsors of the festival MTN Foundation Ford Foundation and others for sustaining the festival and making it a global brand notwithstanding its very humble beginning LIMCAF Art Festival within 16 years has grown to become the largest and highest running art festival in the country collecting hundreds of art works yearly It is time to take and expand LIMCAF beyond Nigeria to an African scope and magnitude said the Obi of Onitsha who spoke through a virtual platform Chairman of the LIMCAF Board of Trustees Elder K U Kalu said that LIMCAF was able to send the overall winners in its past 16 editions to an African art exhibition in Dakar Senegal to get more exposure in arts Kalu explained that for this year s edition a total of 270 art entries were received from eight zonal and region centres throughout the country We follow up on career development of our youths especially those that have won various categories as well as our yearly overall winners Hundreds of youths have found livelihood through arts some have become international artists while others have discovered themselves by participating in this festival which indicates that our investment is yielding fruits I must appreciate MTN Foundation Ford Foundation Pinnacle Oil and Gas Ltd and a host of others as well as families and individuals that have endowed prizes at the yearly grand finale he said In a goodwill message Mr Dennis Okoro who represented MTN Foundation said that the telecommunication firm was sponsoring the festival as part of its corporate social responsibility Okoro noted that the foundation was impressed with the yearly outcome of the festival and its focus of enhancing capacity and providing platform for artistic excellence among youths in the country Sponsoring this art festival remains a wise decision as it brings hope and gives platforms to hundreds of youths from different parts of the country yearly and creates an enabling environment for youths to learn from renowned art scholars In MTN Foundation our mandate focuses on education health and human empowerment while presently we have over 5 000 medical and science students under our scholarship Okoro who is also a teacher said Mr Dabesaki Mac Ikemenjima representative of Ford Foundation said that the artistic works of the young artists were a reflection of the society and its pain and agony The artistic works speak volumes of the reality within the society and its shows that the youths are much aware of societal issues Mac Ikemenjima said The Chairman of the grand finale Elder U K Eke said that the festival provided opportunity for the society to truly connect with the youth and share in their hopes aspirations and struggles Prof Jerry Buhari who led a five man jury for the art work entries advised all the young artists to continue their hard work even if they were not among the first 25 that would be given prizes Buhari who is a professor of fine art from the Ahmadu Bello University Zaria said that the works were judged individually by members of the jury before overall collation of the individual results based on creativity originality work presentation and explanation among others In the award proper four school children got N50 000 cash award each in the children category while some schools within Enugu metropolis got art textbooks A total of 14 artists among the final 25 artists got N20 000 consolation cash prizes each while five artists got endowment prizes from notable individuals and families For the remaining six Abiodun Emmanuel won the best textile and got N250 000 Segun Adebayo won best and got N250 000 Idowu Abayomi won best art and got N250 000 and Joy Onyiri won best ceramics and got N250 000 Others were Hector Udoka who won the best painting mixed and got N250 000 and the overall winner of LIMCAF 2022 Edition and also winner of the best art was Samson Ejiofor who got N500 000 cash prize In a brief interview Ejiofor revealed that it was his seventh year of sending his entries to the festival adding that I am grateful to God for rewarding my persistence My story of struggle to make it is just like the one of many youths out there but there is hope of a better future and success if we remained focused on our passion and pursuit in life I thank the organisers the sponsors the judges as well as my family and friends that believed in me and kept encouraging me Thank you all he added NewsSourceCredit NAN
    LIMCAF Art Festival: Ugwuanyi assures youths of commitment to uplifting creativity
      Gov Ifeanyi Ugwuanyi of Enugu State has assured youths of his administration commitment to uplifting creativity and talent through various platforms Ugwuanyi gave the assurance on Saturday evening at the grand finale and award night of the 2022 Edition of Life In My City Art Festival LIMCAF which was themed Paradox of Muted Echoes The governor represented by the Commissioner for Lands Chief Chidi Aroh noted that the state government would continue to give hope to the youth by supporting their creativity talent and zeal in order to bring out their best According to him as a government we will continue to create enabling environment for creativity of our youths to be heard and seen clearly and sustain our support for various platforms in this direction The state government will continue to support the youth creativity and this particular festival to achieve greater heights since it serves as a spring board to showcase their artistic creativity to the entire world I will want to commend the organisers for making this festival an annual one since 2007 and taking pains and resources to teach and bring the very best out of our talented youths he said Speaking the Obi of Onitsha Igwe Nnaemeka Achebe urged the youth to be hard working and determined to get to the zenith of anything they had passion as there lies the future for you Achebe thanked the sponsors of the festival MTN Foundation Ford Foundation and others for sustaining the festival and making it a global brand notwithstanding its very humble beginning LIMCAF Art Festival within 16 years has grown to become the largest and highest running art festival in the country collecting hundreds of art works yearly It is time to take and expand LIMCAF beyond Nigeria to an African scope and magnitude said the Obi of Onitsha who spoke through a virtual platform Chairman of the LIMCAF Board of Trustees Elder K U Kalu said that LIMCAF was able to send the overall winners in its past 16 editions to an African art exhibition in Dakar Senegal to get more exposure in arts Kalu explained that for this year s edition a total of 270 art entries were received from eight zonal and region centres throughout the country We follow up on career development of our youths especially those that have won various categories as well as our yearly overall winners Hundreds of youths have found livelihood through arts some have become international artists while others have discovered themselves by participating in this festival which indicates that our investment is yielding fruits I must appreciate MTN Foundation Ford Foundation Pinnacle Oil and Gas Ltd and a host of others as well as families and individuals that have endowed prizes at the yearly grand finale he said In a goodwill message Mr Dennis Okoro who represented MTN Foundation said that the telecommunication firm was sponsoring the festival as part of its corporate social responsibility Okoro noted that the foundation was impressed with the yearly outcome of the festival and its focus of enhancing capacity and providing platform for artistic excellence among youths in the country Sponsoring this art festival remains a wise decision as it brings hope and gives platforms to hundreds of youths from different parts of the country yearly and creates an enabling environment for youths to learn from renowned art scholars In MTN Foundation our mandate focuses on education health and human empowerment while presently we have over 5 000 medical and science students under our scholarship Okoro who is also a teacher said Mr Dabesaki Mac Ikemenjima representative of Ford Foundation said that the artistic works of the young artists were a reflection of the society and its pain and agony The artistic works speak volumes of the reality within the society and its shows that the youths are much aware of societal issues Mac Ikemenjima said The Chairman of the grand finale Elder U K Eke said that the festival provided opportunity for the society to truly connect with the youth and share in their hopes aspirations and struggles Prof Jerry Buhari who led a five man jury for the art work entries advised all the young artists to continue their hard work even if they were not among the first 25 that would be given prizes Buhari who is a professor of fine art from the Ahmadu Bello University Zaria said that the works were judged individually by members of the jury before overall collation of the individual results based on creativity originality work presentation and explanation among others In the award proper four school children got N50 000 cash award each in the children category while some schools within Enugu metropolis got art textbooks A total of 14 artists among the final 25 artists got N20 000 consolation cash prizes each while five artists got endowment prizes from notable individuals and families For the remaining six Abiodun Emmanuel won the best textile and got N250 000 Segun Adebayo won best and got N250 000 Idowu Abayomi won best art and got N250 000 and Joy Onyiri won best ceramics and got N250 000 Others were Hector Udoka who won the best painting mixed and got N250 000 and the overall winner of LIMCAF 2022 Edition and also winner of the best art was Samson Ejiofor who got N500 000 cash prize In a brief interview Ejiofor revealed that it was his seventh year of sending his entries to the festival adding that I am grateful to God for rewarding my persistence My story of struggle to make it is just like the one of many youths out there but there is hope of a better future and success if we remained focused on our passion and pursuit in life I thank the organisers the sponsors the judges as well as my family and friends that believed in me and kept encouraging me Thank you all he added NewsSourceCredit NAN
    LIMCAF Art Festival: Ugwuanyi assures youths of commitment to uplifting creativity
    General news1 month ago

    LIMCAF Art Festival: Ugwuanyi assures youths of commitment to uplifting creativity

     Gov. Ifeanyi Ugwuanyi of Enugu State has assured youths of his administration commitment to uplifting creativity and talent through various platforms.

    Ugwuanyi gave the assurance on Saturday evening at the grand finale and award night of the “2022 Edition of Life In My City Art Festival (LIMCAF) which was themed: “Paradox of Muted Echoes”.

    The governor, represented by the Commissioner for Lands, Chief Chidi Aroh, noted that the state government would continue to give hope to the youth by supporting their creativity, talent and zeal in order to bring out their best.

    According to him, as a government, we will continue to create enabling environment for creativity of our youths to be heard and seen clearly and sustain our support for various platforms in this direction.

    “The state government will continue to support the youth, creativity and this particular festival to achieve greater heights since it serves as a spring board to showcase their artistic creativity to the entire world.

    “I will want to commend the organisers for making this festival an annual one since 2007 and taking pains and resources to teach and bring the very best out of our talented youths,” he said.

    Speaking, the Obi of Onitsha, Igwe Nnaemeka Achebe, urged the youth to be hard working and determined to get to the zenith of anything they had passion  as “there lies the future for you”.

    Achebe thanked the sponsors of the festival – MTN Foundation, Ford Foundation and others – for sustaining the festival and “making it a global brand notwithstanding its very humble beginning”.

    “LIMCAF Art Festival, within 16 years, has grown to become the largest and highest running art festival in the country collecting hundreds of art works yearly.

    “It is time to take and expand LIMCAF beyond Nigeria to an African scope and magnitude,” said the Obi of Onitsha, who spoke through a virtual platform.

    Chairman of the LIMCAF Board of Trustees, Elder K.

    U. Kalu, said that LIMCAF was able to send the overall winners in its past 16 editions to an African art exhibition in Dakar, Senegal, to get more exposure in arts.

    Kalu explained that for this year’s edition, a total of 270 art entries were received from eight zonal and region centres throughout the country.

    “We follow up on career development of our youths, especially those that have won various categories, as well as our yearly overall winners.

    “Hundreds of youths have found livelihood through arts, some have become international artists while others have discovered themselves by participating in this festival, which indicates that our investment is yielding fruits.

    “I must appreciate MTN Foundation, Ford Foundation, Pinnacle Oil and Gas Ltd and a host of others, as well as families and individuals that have endowed prizes at the yearly grand finale,” he said.

    In a goodwill message, Mr Dennis Okoro, who represented MTN Foundation, said that the telecommunication firm was sponsoring the festival as part of its corporate social responsibility.

    Okoro noted that the foundation was impressed with the yearly outcome of the festival and its focus of enhancing capacity and providing platform for artistic excellence among youths in the country.

    “Sponsoring this art festival remains a wise decision as it brings hope and gives platforms to hundreds of youths from different parts of the country yearly and creates an enabling environment for youths to learn from renowned art scholars.

    “In MTN Foundation, our mandate focuses on education, health and human empowerment; while presently we have over 5,000 medical and science students under our scholarship,” Okoro, who is also a teacher, said.

    Mr Dabesaki Mac-Ikemenjima, representative of Ford Foundation, said that the artistic works of the young artists were a reflection of the society and its “pain and agony”.

    “The artistic works speak volumes of the reality within the society and its shows that the youths are much aware of societal issues,” Mac-Ikemenjima said.

    The Chairman of the grand finale, Elder U.

    K. Eke, said that the festival provided opportunity for the society to truly connect with the youth and share in their hopes, aspirations and struggles.

    Prof. Jerry Buhari, who led a five-man jury for the art work entries, advised all the young artists to continue their hard work even if they were not among the first 25 that would be given prizes.

    Buhari, who is a professor of fine art from the Ahmadu Bello University, Zaria, said that the works were judged individually by members of the jury, before overall collation of the individual results, based on creativity, originality, work presentation and explanation, among others.

    In the award proper, four school children got N50,000 cash award each in the children category; while some schools within Enugu metropolis got art textbooks.

    A total of 14 artists among the final 25 artists got N20,000 consolation cash prizes each; while five artists got endowment prizes from notable individuals and families.

    For the remaining six; Abiodun Emmanuel won the best textile and got N250,000; Segun Adebayo won best and got N250,000; Idowu Abayomi won best art and got N250,000 and Joy Onyiri won best ceramics and got N250,000. Others were  Hector Udoka who won the best painting, mixed and got N250,000; and the overall winner of LIMCAF 2022 Edition and also winner of the best art was Samson Ejiofor, who got N500,000 cash prize.

    In a brief interview, Ejiofor revealed that it was his seventh year of sending his entries to the festival, adding that “I am grateful to God for rewarding my persistence’’.

    “My story of struggle to make it is just like the one of many youths out there but there is hope of a better future and success if we remained focused on our passion and pursuit in life.

    “I thank the organisers, the sponsors, the judges , as well as my family and friends that believed in me and kept encouraging me.

    Thank you all,” he added.


    NewsSourceCredit: NAN

  •  The Nigerian Exchange Ltd NGX declined further on Friday as market capitalisation depreciated by N389 billion or 1 6 per cent to close at N23 918 trillion from N24 307 trillion on Thursday The negative performance was due to Selloffs in market heavyweights Dangote Cement and MTN Nigeria Also the All Share Index ASI fell by 712 54 points or 1 6 per cent to 43 912 64 from 44 625 18 recorded at the previous trading The market breath ended negative with 16 stocks on the losers charts while 13 stocks gained WAPIC Insurance led the gainers by 9 09 per cent to close at 36k per share Neimeth Pharmaceuticals followed with an appreciation of 8 7 per cent to close N1 50 per share ABC Transport rose by eight per cent to close at 27k while Fidelity Bank rose by 7 89 per cent to close at 57k per share FBN Holdings appreciated by 7 69 per cent to close at N9 80 per share Conversely Dangote led the loser s chat with a depreciation of 10 per cent to close at N220 50 per share Learn Africa Press ollowed dropping by 9 68 per cent to close at N1 68 per share while Honeywell Flour Mills lost by 9 36 per cent to close at N2 13 per share Academy Press declined by 7 53 per cent to close at N1 35 while NEM Insurance shed 6 25 per cent to close at N12 95 per share Analysis of today s market activities showed trade turnover settled lower relative to the previous session with the value of transactions decreasing by 183 07 per cent A total of 122 79 million shares valued at N4 4 billion were exchanged in 3 402 deals NewsSourceCredit NAN
    Investors lose N388bn on NGX amid selloffs
     The Nigerian Exchange Ltd NGX declined further on Friday as market capitalisation depreciated by N389 billion or 1 6 per cent to close at N23 918 trillion from N24 307 trillion on Thursday The negative performance was due to Selloffs in market heavyweights Dangote Cement and MTN Nigeria Also the All Share Index ASI fell by 712 54 points or 1 6 per cent to 43 912 64 from 44 625 18 recorded at the previous trading The market breath ended negative with 16 stocks on the losers charts while 13 stocks gained WAPIC Insurance led the gainers by 9 09 per cent to close at 36k per share Neimeth Pharmaceuticals followed with an appreciation of 8 7 per cent to close N1 50 per share ABC Transport rose by eight per cent to close at 27k while Fidelity Bank rose by 7 89 per cent to close at 57k per share FBN Holdings appreciated by 7 69 per cent to close at N9 80 per share Conversely Dangote led the loser s chat with a depreciation of 10 per cent to close at N220 50 per share Learn Africa Press ollowed dropping by 9 68 per cent to close at N1 68 per share while Honeywell Flour Mills lost by 9 36 per cent to close at N2 13 per share Academy Press declined by 7 53 per cent to close at N1 35 while NEM Insurance shed 6 25 per cent to close at N12 95 per share Analysis of today s market activities showed trade turnover settled lower relative to the previous session with the value of transactions decreasing by 183 07 per cent A total of 122 79 million shares valued at N4 4 billion were exchanged in 3 402 deals NewsSourceCredit NAN
    Investors lose N388bn on NGX amid selloffs
    Economy1 month ago

    Investors lose N388bn on NGX amid selloffs

    The Nigerian Exchange Ltd. (NGX) declined further on Friday as market capitalisation depreciated by N389 billion or 1.6 per cent, to close at N23.918 trillion from N24.307 trillion on Thursday.

    The negative performance was due to Selloffs in market heavyweights, Dangote Cement and MTN Nigeria.

    Also, the All-Share Index (ASI) fell by 712.54 points or 1.6 per cent to 43,912.64 from 44,625.18 recorded at the previous trading.

    The market breath ended negative with 16 stocks on the losers’ charts, while 13 stocks gained.

    WAPIC Insurance led the gainers by 9.09 per cent to close at 36k per share.

    Neimeth Pharmaceuticals followed with an appreciation of 8.7 per cent to close N1.50 per share.

    ABC Transport rose by eight per cent to close at 27k, while Fidelity Bank rose by 7.89 per cent to close at 57k per share.

    FBN Holdings appreciated by 7.69 per cent to close at N9.80 per share.

    Conversely, Dangote led the loser’s chat with a depreciation of 10 per cent to close at N220.50 per share.

    Learn Africa Press ollowed dropping by 9.68 per cent to close at N1.68 per share, while Honeywell Flour Mills lost by 9.36 per cent to close at N2.13 per share.

    Academy Press declined by 7.53 per cent to close at N1.35, while NEM Insurance shed 6.25 per cent to close at N12.95 per share.

    Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 183.07 per cent.

    A total of 122.79 million shares valued at N4.4 billion were exchanged in 3,402 deals.


    NewsSourceCredit: NAN

  •  Mr Maxwell Adeyemi a lecturer in the Animal Production and Health Department of Olusegun Agagu University of Science and Technology OAUSTECH Okitipupa Ondo State has won an International Foundation for Science IFS research grant worth 15 000 U S dollars This is contained in a statement signed by Mr Paul Adeagbo Deputy Director Information Protocol and Public Relations OAUSTECH on Wednesday in Okitipupa The IFS won by the 35 year old researcher an indigene of Supare Akoko was sponsored by the Government of Sweden for early career scholars Adeyemi on his doctoral programme in Animal Science at Obafemi Awolowo University OAU Ile Ife Osun focused his research work on the Nutritive Evaluation of Cassava plant Meals as Diet in Life Cycle Feeding of Pigs The OAUSTECH academic was once a winner of the MTN Science and Technology Scholarship Phase II with which he funded his university education for three consecutive years 2010 2013 The animal scientist is also a winner of the CLIFF GRADS Doctoral Fellowship sponsored by the Government of New Zealand The CLIFF GRADS affords him a six month stay in the Universidad Technologica Nacional UTN Argentina where he will work on greenhouse gases mitigation strategies of the different diary productive systems of Argentina Adeagbo said Meanwhile Prof Temi Ologunorisa Vice Chancellor OAUSTECH has congratulated the scholar and wished him a brilliant success in his research endeavours He further encouraged other staff members to emulate the young scholar and researcher NAN also reports that Adeyemi who joined OAUSTECH as Assistant Lecturer in School of Agriculture Food and Natural Resources on Nov 1 2018 is expected to commence the Swedish IFS research in mid March 2023 NewsSourceCredit NAN
    Ondo varsity lecturer win ,000 Swedish research grant
     Mr Maxwell Adeyemi a lecturer in the Animal Production and Health Department of Olusegun Agagu University of Science and Technology OAUSTECH Okitipupa Ondo State has won an International Foundation for Science IFS research grant worth 15 000 U S dollars This is contained in a statement signed by Mr Paul Adeagbo Deputy Director Information Protocol and Public Relations OAUSTECH on Wednesday in Okitipupa The IFS won by the 35 year old researcher an indigene of Supare Akoko was sponsored by the Government of Sweden for early career scholars Adeyemi on his doctoral programme in Animal Science at Obafemi Awolowo University OAU Ile Ife Osun focused his research work on the Nutritive Evaluation of Cassava plant Meals as Diet in Life Cycle Feeding of Pigs The OAUSTECH academic was once a winner of the MTN Science and Technology Scholarship Phase II with which he funded his university education for three consecutive years 2010 2013 The animal scientist is also a winner of the CLIFF GRADS Doctoral Fellowship sponsored by the Government of New Zealand The CLIFF GRADS affords him a six month stay in the Universidad Technologica Nacional UTN Argentina where he will work on greenhouse gases mitigation strategies of the different diary productive systems of Argentina Adeagbo said Meanwhile Prof Temi Ologunorisa Vice Chancellor OAUSTECH has congratulated the scholar and wished him a brilliant success in his research endeavours He further encouraged other staff members to emulate the young scholar and researcher NAN also reports that Adeyemi who joined OAUSTECH as Assistant Lecturer in School of Agriculture Food and Natural Resources on Nov 1 2018 is expected to commence the Swedish IFS research in mid March 2023 NewsSourceCredit NAN
    Ondo varsity lecturer win ,000 Swedish research grant
    General news1 month ago

    Ondo varsity lecturer win $15,000 Swedish research grant

    Mr Maxwell Adeyemi, a lecturer in the Animal Production and Health Department of Olusegun Agagu University of Science and Technology (OAUSTECH), Okitipupa, Ondo State, has won an International Foundation for Science (IFS) research grant worth 15,000 U.

    S. dollars.

    This is contained in a statement signed by Mr Paul Adeagbo, Deputy Director, Information, Protocol and Public Relations, OAUSTECH, on Wednesday in Okitipupa.

    The IFS, won by the 35-year-old researcher, an indigene of Supare-Akoko was sponsored by the Government of Sweden for early career scholars.

    Adeyemi, on his doctoral programme in Animal Science at Obafemi Awolowo University (OAU), Ile-Ife, Osun,  focused his research work on the “Nutritive Evaluation of Cassava plant Meals as Diet in Life Cycle Feeding of Pigs”.

    “The OAUSTECH academic was once a winner of the MTN Science and Technology Scholarship Phase II with which he funded his university education for three consecutive years (2010 – 2013).

    “The animal scientist is also a winner of the CLIFF-GRADS Doctoral Fellowship, sponsored by the Government of New Zealand.

    “The CLIFF-GRADS affords him a six-month stay in the Universidad Technologica Nacional (UTN), Argentina, where he will work on greenhouse gases mitigation strategies of the different diary productive systems of Argentina,” Adeagbo said.

    Meanwhile, Prof. Temi Ologunorisa, Vice-Chancellor, OAUSTECH, has congratulated the scholar and wished him a brilliant success in his research endeavours.

    He further encouraged other staff members to emulate the young scholar and researcher.

    NAN also reports that Adeyemi, who joined OAUSTECH as Assistant Lecturer in  School of Agriculture, Food and Natural Resources on Nov. 1, 2018 is expected to commence the Swedish IFS research in mid-March 2023.
    NewsSourceCredit: NAN

  •  Minister of State for Petroleum Resources Chief Timipre Sylva has assured of Federal Government s commitment to ensure affordable cost of energy for Nigerians Sylva gave the assurance on Tuesday in Abuja at the 2nd World Energy Day conference organised by the National Chamber Policy Centre of the Abuja Chamber of Commerce and Industry ACCI Represented by an official of the ministry Mr Dipo Agboola the minister said that the Petroleum Industry Act PIA would further support the opening up of the downstream oil sector to ensure affordable energy He stressed that the need to unbundle the downstream oil sector was imperative We have spent so much on subsidy However when the downstream sector is unbundled more business opportunities would be created Initially the challenges might be a bit high but over time it will definitely be in the best interest of the country Take for example the telecoms sector when we first had the likes of MTN and Glo coming on board a SIM card cost N18 000 but today you can get the SIM card for as low as nothing Also there is now competition in the telecoms sector So it is necessary that we ensure that energy is affordable for our citizens When energy is affordable we would have been able to meet some of the Sustainable Development Goals he said I his remarks President of ACCI Dr Al Mujtaba Abubakar described energy security as the uninterrupted availability of energy sources at an affordable price which had many aspects Long term energy security mainly deals with timely investments to supply energy in line with economic developments and environmental needs he said Abubakar noted that Nigeria had been pursuing energy transition to promote economic growth and gradually investing in renewable energies primarily solar This is to reduce carbon emissions while continuing to exploit hydrocarbon resources especially natural gas the energy transition fuel for Nigeria Energy transition will continue to impact on the ability of Nigeria and oil and gas companies to attract capital This is as banks and investors prioritise environmental social and governance factors and move away from funding hydrocarbon projects he noted Abubakar said the conference would provide better appreciation of government s efforts to develop the sector improve private sector investment in clean energy and new insights on national policy on energy transition I believe that security in the oil and gas sector will help Nigeria to meet its OPEC daily oil output as well as meet the energy requirements of the country he said The conference theme is Energy Security and Sustainability in Oil and Gas Sector NewsSourceCredit NAN
    FG assures of affordable energy for Nigerians
     Minister of State for Petroleum Resources Chief Timipre Sylva has assured of Federal Government s commitment to ensure affordable cost of energy for Nigerians Sylva gave the assurance on Tuesday in Abuja at the 2nd World Energy Day conference organised by the National Chamber Policy Centre of the Abuja Chamber of Commerce and Industry ACCI Represented by an official of the ministry Mr Dipo Agboola the minister said that the Petroleum Industry Act PIA would further support the opening up of the downstream oil sector to ensure affordable energy He stressed that the need to unbundle the downstream oil sector was imperative We have spent so much on subsidy However when the downstream sector is unbundled more business opportunities would be created Initially the challenges might be a bit high but over time it will definitely be in the best interest of the country Take for example the telecoms sector when we first had the likes of MTN and Glo coming on board a SIM card cost N18 000 but today you can get the SIM card for as low as nothing Also there is now competition in the telecoms sector So it is necessary that we ensure that energy is affordable for our citizens When energy is affordable we would have been able to meet some of the Sustainable Development Goals he said I his remarks President of ACCI Dr Al Mujtaba Abubakar described energy security as the uninterrupted availability of energy sources at an affordable price which had many aspects Long term energy security mainly deals with timely investments to supply energy in line with economic developments and environmental needs he said Abubakar noted that Nigeria had been pursuing energy transition to promote economic growth and gradually investing in renewable energies primarily solar This is to reduce carbon emissions while continuing to exploit hydrocarbon resources especially natural gas the energy transition fuel for Nigeria Energy transition will continue to impact on the ability of Nigeria and oil and gas companies to attract capital This is as banks and investors prioritise environmental social and governance factors and move away from funding hydrocarbon projects he noted Abubakar said the conference would provide better appreciation of government s efforts to develop the sector improve private sector investment in clean energy and new insights on national policy on energy transition I believe that security in the oil and gas sector will help Nigeria to meet its OPEC daily oil output as well as meet the energy requirements of the country he said The conference theme is Energy Security and Sustainability in Oil and Gas Sector NewsSourceCredit NAN
    FG assures of affordable energy for Nigerians
    Economy1 month ago

    FG assures of affordable energy for Nigerians

    Minister of State for Petroleum Resources, Chief Timipre Sylva, has assured of Federal Government’s commitment to ensure affordable cost of energy for Nigerians.

    Sylva gave the assurance on Tuesday in Abuja at the 2nd World Energy Day conference organised by the National Chamber Policy Centre of the Abuja Chamber of Commerce and Industry (ACCI).

    Represented by an official of the ministry, Mr Dipo Agboola, the minister said that the Petroleum Industry Act (PIA) would further support the opening up of the downstream oil sector to ensure affordable energy.

    He stressed that the need to unbundle the downstream oil sector was imperative.

    “We have spent so much on subsidy.

    However, when the downstream sector is unbundled, more business opportunities would be created.

    “Initially the challenges might be a bit high, but over time it will definitely be in the best interest of the country.

    “Take for example, the telecoms sector; when we first had the likes of MTN and Glo coming on board, a SIM card cost N18, 000, but today you can get the SIM card for as low as nothing.

    “Also, there is now competition in the telecoms sector.

    So, it is necessary that we ensure that energy is affordable for our citizens.

    “When energy is affordable, we would have been able to meet some of the Sustainable Development Goals,’’ he said.

    I his remarks, President of ACCI, Dr Al-Mujtaba Abubakar, described energy security as the uninterrupted availability of energy sources at an affordable price which had many aspects.

    “Long-term energy security mainly deals with timely investments to supply energy in line with economic developments and environmental needs,’’ he said.

    Abubakar noted that Nigeria had been pursuing energy transition to promote economic growth and gradually investing in renewable energies, primarily solar.

    “This is to reduce carbon emissions while continuing to exploit hydrocarbon resources, especially natural gas, the energy transition fuel for Nigeria.

    “Energy transition will continue to impact on the ability of Nigeria and oil and gas companies to attract capital.

    “This is as banks and investors prioritise environmental, social and governance factors and move away from funding hydrocarbon projects,’’ he noted.

    Abubakar said the conference would provide better appreciation of government’s efforts to develop the sector, improve private sector investment in clean energy and new insights on national policy on energy transition.

    “I believe that security in the oil and gas sector will help Nigeria to meet its OPEC daily oil output as well as meet the energy requirements of the country,’’ he said.

    The conference theme is: “Energy Security and Sustainability in Oil and Gas Sector’’.


    NewsSourceCredit: NAN

  •   Equity market indices gain by 0 15 Equity market indices gain by 0 15 Equity By Olawunmi Ashafa Lagos Oct 24 2020 The Nigerian Exchange Ltd NGX resumed the week on a positive note with N36 billion gain due to bargain hunting in shares of MTN Nigerian Communications MTNN and seven other companies The market capitalisation increased by N36 billion or 0 15 per cent to close at N24 217 trillion from N24 181 billion at the previous session Also the All Share Index ASI rose by 64 90 points or 0 15 per cent to close at 44 461 63 from 44 396 73 recorded on Friday The upturn was as a result of gains recorded in medium and large capitalised stocks amongst which are MTNN Beta Glass Nigeria Lafarge Africa Ardova and Red Star Express Plc Analysts at United Capital Plc said We expect bearish sentiment to continue to dominate the market as investors stay off equities and take advantage of the rising interest rates in the fixed income market However we may see some bargain hunting in stocks that have underlying fundamentals as investors look to take position ahead of the Q3 2022 earning season Market sentiment as measured by market breadth was however negative as 18 stocks lost relative to eight gainers Red Star Express recorded the highest price gain of 8 22 per cent to close at N2 37 per share Beta Glass followed with a gain 5 90 per cent to close at N43 95 while Wapic Insurance rose by 5 88 per cent to close at 36 kobo per share Lafarge Africa went up by 2 73 per cent to close at N22 55 while Ardova appreciated by 2 19 per cent to close at N14 00 per share On the other hand Unilever Nigeria led the losers chart by 10 per cent to close at N10 80 per share NEM Insurance followed with a decline of 9 50 per cent to close at N4 00 while Lasaco Assurance depreciated by 4 60 per cent to close at 83k per share Regency Alliance Insurance declined by 4 17 per cent to close at 23k while Sovereign Trust Insurance depreciated by 3 85 per cent to close at 25 k per share The total volume of trades declined by 23 9 per cent to 72 328 million units valued at N2 169 billion and exchanged in 2 887deals Transnational Corporation of Nigeria Transcorp topped the activity chart with 11 352 million shares valued at N11 929 million Nigerian Exchange Group NGX Group followed with 5 611 million shares worth N120 060 million while Guaranty Trust Holding Company GTCO traded 5 277 million shares valued at N97 319 million Sovereign Trust Insurance traded 4 120 million shares valued at N1 051 million while Fidelity Bank transacted 3 923 million shares worth N14 433 million NewsSourceCredit NAN
    Equity market: indices gain by 0.15%
      Equity market indices gain by 0 15 Equity market indices gain by 0 15 Equity By Olawunmi Ashafa Lagos Oct 24 2020 The Nigerian Exchange Ltd NGX resumed the week on a positive note with N36 billion gain due to bargain hunting in shares of MTN Nigerian Communications MTNN and seven other companies The market capitalisation increased by N36 billion or 0 15 per cent to close at N24 217 trillion from N24 181 billion at the previous session Also the All Share Index ASI rose by 64 90 points or 0 15 per cent to close at 44 461 63 from 44 396 73 recorded on Friday The upturn was as a result of gains recorded in medium and large capitalised stocks amongst which are MTNN Beta Glass Nigeria Lafarge Africa Ardova and Red Star Express Plc Analysts at United Capital Plc said We expect bearish sentiment to continue to dominate the market as investors stay off equities and take advantage of the rising interest rates in the fixed income market However we may see some bargain hunting in stocks that have underlying fundamentals as investors look to take position ahead of the Q3 2022 earning season Market sentiment as measured by market breadth was however negative as 18 stocks lost relative to eight gainers Red Star Express recorded the highest price gain of 8 22 per cent to close at N2 37 per share Beta Glass followed with a gain 5 90 per cent to close at N43 95 while Wapic Insurance rose by 5 88 per cent to close at 36 kobo per share Lafarge Africa went up by 2 73 per cent to close at N22 55 while Ardova appreciated by 2 19 per cent to close at N14 00 per share On the other hand Unilever Nigeria led the losers chart by 10 per cent to close at N10 80 per share NEM Insurance followed with a decline of 9 50 per cent to close at N4 00 while Lasaco Assurance depreciated by 4 60 per cent to close at 83k per share Regency Alliance Insurance declined by 4 17 per cent to close at 23k while Sovereign Trust Insurance depreciated by 3 85 per cent to close at 25 k per share The total volume of trades declined by 23 9 per cent to 72 328 million units valued at N2 169 billion and exchanged in 2 887deals Transnational Corporation of Nigeria Transcorp topped the activity chart with 11 352 million shares valued at N11 929 million Nigerian Exchange Group NGX Group followed with 5 611 million shares worth N120 060 million while Guaranty Trust Holding Company GTCO traded 5 277 million shares valued at N97 319 million Sovereign Trust Insurance traded 4 120 million shares valued at N1 051 million while Fidelity Bank transacted 3 923 million shares worth N14 433 million NewsSourceCredit NAN
    Equity market: indices gain by 0.15%
    Economy1 month ago

    Equity market: indices gain by 0.15%

    Equity market: indices gain by 0.15% Equity market: indices gain by 0.15% Equity By Olawunmi Ashafa Lagos, Oct. 24, 2020 The Nigerian Exchange Ltd. (NGX) resumed the week on a positive note with N36 billion gain due to bargain-hunting in shares of MTN Nigerian Communications (MTNN) and seven other companies.

    The market capitalisation increased by N36 billion or 0.15 per cent to close at N24.217 trillion from N24.181 billion at the previous session.

    Also, the All Share Index (ASI) rose by 64.90 points or 0.15 per cent to close at 44,461.63 from  44,396.73 recorded on Friday.

    The upturn was as a result of gains recorded in medium and large capitalised stocks, amongst which are: MTNN, Beta Glass Nigeria, Lafarge Africa, Ardova and Red Star Express Plc. Analysts at United Capital Plc said, “We expect bearish sentiment to continue to dominate the market as investors stay off equities and take advantage of the rising interest rates in the fixed income market.

    “However, we may see some bargain hunting in stocks that have underlying fundamentals as investors look to take position ahead of the Q3, 2022 earning season.

    ” Market sentiment, as measured by market breadth was, however, negative as 18 stocks lost relative to eight gainers.

    Red Star Express recorded the highest price gain of 8.22 per cent to close at N2.37, per share.

    Beta Glass followed with a gain 5.90 per cent to close at N43.95, while Wapic Insurance rose by 5.88 per cent to close at 36 kobo, per share.

    Lafarge Africa went up by 2.73 per cent to close at N22.55,  while Ardova  appreciated by 2.19 per cent to close at N14.00, per share.

    On the other hand, Unilever Nigeria led the losers’ chart by 10 per cent to close at N10.80, per share.

    NEM Insurance followed with a decline of 9.50 per cent to close at N4.00, while Lasaco Assurance depreciated by 4.60 per cent  to close at 83k, per share.

    Regency Alliance Insurance declined by 4.17 per cent to close at 23k, while Sovereign Trust Insurance depreciated by 3.85 per cent to close at 25 k, per share.

    The total volume of trades declined by 23.9 per cent to 72.328 million units, valued at N2.169 billion, and exchanged in 2,887deals.

    Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 11.352 million shares valued at N11.929 million.

    Nigerian Exchange Group (NGX Group) followed with 5.611 million shares worth N120.060 million, while Guaranty Trust Holding Company (GTCO)  traded 5.277 million shares valued at N97.319 million.

    Sovereign Trust Insurance traded 4.120 million shares valued at N1.051 million, while Fidelity Bank transacted 3.923 million shares worth N14.433 million.


    NewsSourceCredit: NAN

  •  Nigerian Governors have assured the Federal Government of their full cooperation on the Right of Way RoW issue to boost the nation s digital economy drive Mr Godwin Obaseki of Edo gave the assurance during the maiden edition of Broadband Technical Awareness Forum For Governor s organised by Nigerian Communications Commission NCC on Thursday in Abuja Obaseki said that broadband penetration was very vital to improving ofgovernance in the states adding that the regulator must create mutual trust for the Governors to key into the programme He assured the Minister and the NCC that states are willing and ready to collaborate and work together We need to build more trust We have to understand what is going on in states and how they will benefit from internet penetration A few things happened in the past during COVID 19 MTN wanted to give states like Edo access to more broadband but they did not get approvals from the regulator When the policy of broadband came out five years ago states were allocated certain providers but they did not have capacity For Edo for instance we decided to bypass the instruction and went to get another deal with a different provider who had capacity that was how we were able to get 400km he said Obaseki said We believe there is so much to offer when we work together as subnational and Federal government But how we go about it must be of mutual benefit There must be openness trust and put in mind what the states need The Minister of Communications and Digital Economy Prof Isa Pantami used the opportunity to once again appeal to the state governors to see beyond the levy on RoW Pantami said There is need for us to engage our sub nationals our Governors let them understand that the benefits of broadband penetration are beyond the right of way Certain taxes being collected at the Federal Government which the states are benefiting the same tax are being collected at the state level This is the reason why we engaged them so that they will see the benefits of broadband penetration beyond collection of RoW and other charges which are obstacles to broadband penetration in their states He however informed them of the benefits of broadband penetration in their states When there is broadband penetration in our states it will go a long way in supporting our security institutions entire economy ecosystem schools citizens to update daily information and news It is because of this our sub nationals have a strong role to play Particularly when they comply with the agreement I engaged them on the 15th of January 2020 under the Nigerian Governors Forum And I also engaged the Governors at the National Economic Council And at least four different times with the challenge of right of way and multiple taxation he stated The Executive Vice Chairman EVC of the NCC Prof Umar Danbatta appealed to the 36 state Governors to cooperate with the NCC and the ministry of Communications and Digital Economy to promote the nation s digital economy drive When you ask that the journey we have undertaken for almost ten to fifteen years or may be 20 years and the verdict today is we are making progress indeed But we should ask ourselves is that the kind of progress we would like to see Or is there room for us to improve what we need to do in order to reach that destination that we want to reach We must deploy infrastructure in a way and manner that will show inclusiveness We can only achieve this dream by appealing to their excellencies spearheaded by the Edo Governor that he should please cooperate with NCC the Minister and promote digital economy he said He however said that leading broadband infrastructure nations were those with the highest GDP per capital in the global broadband infrastructure ecosystem These are countries with GDP per capita of between 50 60 thousand dollars We can only better manage our environment when we put broadband infrastructure in place And above all we will be able to meet our sustainable development goals There is no goal that doesn t have ICT component in it that ICT component can only be accomplished if commensurate broadband infrastructure is put n place NewsSourceCredit NAN
    Right of Way: Nigerian Governors pledge cooperation to FG
     Nigerian Governors have assured the Federal Government of their full cooperation on the Right of Way RoW issue to boost the nation s digital economy drive Mr Godwin Obaseki of Edo gave the assurance during the maiden edition of Broadband Technical Awareness Forum For Governor s organised by Nigerian Communications Commission NCC on Thursday in Abuja Obaseki said that broadband penetration was very vital to improving ofgovernance in the states adding that the regulator must create mutual trust for the Governors to key into the programme He assured the Minister and the NCC that states are willing and ready to collaborate and work together We need to build more trust We have to understand what is going on in states and how they will benefit from internet penetration A few things happened in the past during COVID 19 MTN wanted to give states like Edo access to more broadband but they did not get approvals from the regulator When the policy of broadband came out five years ago states were allocated certain providers but they did not have capacity For Edo for instance we decided to bypass the instruction and went to get another deal with a different provider who had capacity that was how we were able to get 400km he said Obaseki said We believe there is so much to offer when we work together as subnational and Federal government But how we go about it must be of mutual benefit There must be openness trust and put in mind what the states need The Minister of Communications and Digital Economy Prof Isa Pantami used the opportunity to once again appeal to the state governors to see beyond the levy on RoW Pantami said There is need for us to engage our sub nationals our Governors let them understand that the benefits of broadband penetration are beyond the right of way Certain taxes being collected at the Federal Government which the states are benefiting the same tax are being collected at the state level This is the reason why we engaged them so that they will see the benefits of broadband penetration beyond collection of RoW and other charges which are obstacles to broadband penetration in their states He however informed them of the benefits of broadband penetration in their states When there is broadband penetration in our states it will go a long way in supporting our security institutions entire economy ecosystem schools citizens to update daily information and news It is because of this our sub nationals have a strong role to play Particularly when they comply with the agreement I engaged them on the 15th of January 2020 under the Nigerian Governors Forum And I also engaged the Governors at the National Economic Council And at least four different times with the challenge of right of way and multiple taxation he stated The Executive Vice Chairman EVC of the NCC Prof Umar Danbatta appealed to the 36 state Governors to cooperate with the NCC and the ministry of Communications and Digital Economy to promote the nation s digital economy drive When you ask that the journey we have undertaken for almost ten to fifteen years or may be 20 years and the verdict today is we are making progress indeed But we should ask ourselves is that the kind of progress we would like to see Or is there room for us to improve what we need to do in order to reach that destination that we want to reach We must deploy infrastructure in a way and manner that will show inclusiveness We can only achieve this dream by appealing to their excellencies spearheaded by the Edo Governor that he should please cooperate with NCC the Minister and promote digital economy he said He however said that leading broadband infrastructure nations were those with the highest GDP per capital in the global broadband infrastructure ecosystem These are countries with GDP per capita of between 50 60 thousand dollars We can only better manage our environment when we put broadband infrastructure in place And above all we will be able to meet our sustainable development goals There is no goal that doesn t have ICT component in it that ICT component can only be accomplished if commensurate broadband infrastructure is put n place NewsSourceCredit NAN
    Right of Way: Nigerian Governors pledge cooperation to FG
    General news2 months ago

    Right of Way: Nigerian Governors pledge cooperation to FG

    Nigerian Governors have assured the Federal Government of their full cooperation on the Right of Way (RoW) issue to boost the nation’s digital economy drive.  

    Mr Godwin Obaseki of Edo gave the assurance during the maiden edition of Broadband Technical Awareness Forum For Governor’s organised by Nigerian Communications Commission (NCC) on Thursday in Abuja.  

    Obaseki said that broadband penetration was very vital to improving ofgovernance in the states, adding that the regulator must create mutual trust for the Governors to key into the programme.  

    He assured the Minister and the NCC that states are willing and ready to collaborate and work together.  

    “We need to build more trust.

    We have to understand what is going on in states and how they will benefit from internet penetration.  

    “A few things happened in the past, during COVID-19 MTN wanted to give states like Edo access to more broadband, but they did not get approvals from the regulator.  

    “When the policy of broadband came out five years ago, states were allocated certain providers, but they did not have capacity.  

    “For Edo for instance, we decided to bypass the instruction and went to get another deal with a different provider who had capacity that was how we were able to get 400km,”he said.  

    Obaseki said: “We believe there is so much to offer when we work together as subnational and Federal government.

    “But, how we go about it must be of mutual benefit .

    There must be openness, trust and put in mind what the states need.

    ”   The Minister of Communications and Digital Economy, Prof. Isa Pantami, used the opportunity to once again appeal to the state governors to see beyond the levy on RoW.  

    Pantami said: “There is need for us to engage our sub-nationals, our Governors, let them understand that the benefits of broadband penetration are beyond the right of way.  

    “Certain taxes being collected at the Federal Government, which the states are benefiting the same tax are being collected at the state level.  

    “This is the reason why we engaged them so that they will see the benefits of broadband penetration beyond collection of RoW and other charges, which are obstacles to broadband penetration in their states.

    ”   He, however, informed them of the benefits of broadband penetration in their states.  

    “When there is broadband penetration in our states, it will go a long way in supporting our security institutions, entire economy ecosystem, schools, citizens to update daily information and news.  

    “It is because of this our sub-nationals have a strong role to play.

    Particularly when they comply with the agreement I engaged them on the 15th of January 2020 under the Nigerian Governors’ Forum.  

    “And I also engaged the Governors at the National Economic Council.

    And at least four different times with the challenge of right of way and multiple taxation,” he stated.  

    The Executive Vice Chairman (EVC), of the NCC, Prof. Umar Danbatta, appealed to the 36 state Governors to cooperate with the NCC and the ministry of Communications and Digital Economy to promote the nation’s digital economy drive.  

    “When you ask that the journey we have undertaken for almost ten to fifteen years or may be 20 years and the verdict today is, we are making progress indeed.  

    “But, we should ask ourselves; is that the kind of progress we would like to see?

    Or is there room for us to improve what we need to do, in order to reach that destination that we want to reach.  

    “We must deploy infrastructure in a way and manner that will show inclusiveness.  

    “We can only achieve this dream by appealing to their excellencies spearheaded by the Edo Governor that he should please cooperate with NCC, the Minister and promote digital economy,” he said.  

    He, however, said that leading broadband infrastructure nations were those with the highest GDP per capital in the global broadband infrastructure ecosystem.  

    “These are countries with GDP per capita of between 50-60 thousand dollars.  

    “We can only better manage our environment when we put broadband infrastructure in place.

    And above all, we will be able to meet our sustainable development goals.  

    “There is no goal that doesn’t have ICT component in it, that ICT component can only be accomplished if commensurate broadband infrastructure is put n place”.  


    NewsSourceCredit: NAN

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