Connect with us

OPS

  •  The Federal Government on Friday commended David Alaba a renowned Real Madrid footballer for donating a biodegradable toilet to Ogere Remo community in Ogun State The Minister of Water Resources Mr Suleiman Adamu in a statement on Friday said private sector involvement was critical if Nigeria would end open defecation practice by 2025 According to him private sector and Diaspora engagement and support through accelerated provisions of toilets by philanthropy will go a long way The commissioning was made possible through collaboration with Organised Private Sector in Water Sanitation and Hygiene OPS WASH Clean Nigeria Campaign CNC and Nigerians in Diaspora Commission The minister reaffirmed that Clean Nigeria Campaign was targeted at mobilising high level political support resources and the entire populace towards building a new culture of safe sanitation He added that such commendable project by Alaba and his foundation was worthy of emulation saying the quest to end open defecation required the contribution and commitment of all stakeholders The minister urged Nigerians in the Diaspora to mobilise support for the campaign through private sector engagement adding that under the Clean Nigeria Campaign 84 LGAs were now Open Defecation Free ODF Jigawa is on the verge of achieving a state wide ODF status with just one more LGA to go Nigeria has been given the hosting rights for the 2022 World Toilet Summit and we want active participation Governor of Ogun State Mr Dapo Abiodun said Alaba was a true Nigerian saying the gesture was a new dimension in community development for a better society Abiodun represented by his Commissioner for Special Duties Olufemi Ilori Oduntan appealed to the people to always incorporate toilets into their building plan He however pledged the state government s resolve to maintain toilets in public places such as parks and markets The Nigerians in Diaspora Commission Dr Abike Dabiri Erewa said the initiative was in tandem with NiDCOM s mandate of harnessing the potentials of Nigerians in Diaspora for national growth and development Dabiri Erewa represented by Mr Oladipo Odebowale urged other Diasporans and Nigerians to emulate the worthy gesture as a support to national development efforts The Coordinator OPS WASH Dr Nicholas Igwe emphasised the significance of collaboration and partnership saying the private sector would continue to work with and all stakeholders to achieve the 2025 ODF target Clean Nigeria Campaign Coordinator Mrs Chizoba Opara said ODF Nigeria was achievable with the right political will and collective support of all stakeholders High points of the occasion were the unveiling of the toilet facility and the distribution of autographed Real Madrid Jerseys to three successful winners by the David Alaba Foundation NewsSourceCredit NAN
    Real Madrid star, Alaba, donates bio-degradable toilet to Ogun community
     The Federal Government on Friday commended David Alaba a renowned Real Madrid footballer for donating a biodegradable toilet to Ogere Remo community in Ogun State The Minister of Water Resources Mr Suleiman Adamu in a statement on Friday said private sector involvement was critical if Nigeria would end open defecation practice by 2025 According to him private sector and Diaspora engagement and support through accelerated provisions of toilets by philanthropy will go a long way The commissioning was made possible through collaboration with Organised Private Sector in Water Sanitation and Hygiene OPS WASH Clean Nigeria Campaign CNC and Nigerians in Diaspora Commission The minister reaffirmed that Clean Nigeria Campaign was targeted at mobilising high level political support resources and the entire populace towards building a new culture of safe sanitation He added that such commendable project by Alaba and his foundation was worthy of emulation saying the quest to end open defecation required the contribution and commitment of all stakeholders The minister urged Nigerians in the Diaspora to mobilise support for the campaign through private sector engagement adding that under the Clean Nigeria Campaign 84 LGAs were now Open Defecation Free ODF Jigawa is on the verge of achieving a state wide ODF status with just one more LGA to go Nigeria has been given the hosting rights for the 2022 World Toilet Summit and we want active participation Governor of Ogun State Mr Dapo Abiodun said Alaba was a true Nigerian saying the gesture was a new dimension in community development for a better society Abiodun represented by his Commissioner for Special Duties Olufemi Ilori Oduntan appealed to the people to always incorporate toilets into their building plan He however pledged the state government s resolve to maintain toilets in public places such as parks and markets The Nigerians in Diaspora Commission Dr Abike Dabiri Erewa said the initiative was in tandem with NiDCOM s mandate of harnessing the potentials of Nigerians in Diaspora for national growth and development Dabiri Erewa represented by Mr Oladipo Odebowale urged other Diasporans and Nigerians to emulate the worthy gesture as a support to national development efforts The Coordinator OPS WASH Dr Nicholas Igwe emphasised the significance of collaboration and partnership saying the private sector would continue to work with and all stakeholders to achieve the 2025 ODF target Clean Nigeria Campaign Coordinator Mrs Chizoba Opara said ODF Nigeria was achievable with the right political will and collective support of all stakeholders High points of the occasion were the unveiling of the toilet facility and the distribution of autographed Real Madrid Jerseys to three successful winners by the David Alaba Foundation NewsSourceCredit NAN
    Real Madrid star, Alaba, donates bio-degradable toilet to Ogun community
    Environment2 weeks ago

    Real Madrid star, Alaba, donates bio-degradable toilet to Ogun community

    The Federal Government on Friday commended David Alaba, a renowned Real Madrid footballer, for donating a biodegradable toilet to Ogere Remo community in Ogun State.

    The Minister of Water Resources, Mr Suleiman Adamu, in a statement on Friday, said private sector involvement was critical if Nigeria would end open defecation practice by 2025. According to him, private sector and Diaspora engagement and support through accelerated provisions of toilets by philanthropy will go a long way.

    The commissioning was made possible through collaboration with Organised Private Sector in Water Sanitation and Hygiene (OPS- WASH), Clean Nigeria Campaign (CNC) and Nigerians in Diaspora Commission.

    The minister reaffirmed that Clean Nigeria Campaign was targeted at mobilising high-level political support, resources and the entire populace towards building a new culture of safe sanitation.

    He added that such commendable project by Alaba and his foundation was worthy of emulation, saying the quest to end open defecation required the contribution and commitment of all stakeholders.

    The minister urged Nigerians in the Diaspora to mobilise support for the campaign through private sector engagement, adding that under the Clean Nigeria Campaign, 84 LGAs were now Open Defecation Free (ODF).

    “Jigawa is on the verge of achieving a state-wide ODF status with just one more LGA to go, Nigeria has been given the hosting rights for the 2022 World Toilet Summit and we want active participation,’’ Governor of Ogun State, Mr Dapo Abiodun, said Alaba was a true Nigerian, saying the gesture was a new dimension in community development for a better society.

    Abiodun, represented by his Commissioner for Special Duties, Olufemi Ilori-Oduntan, appealed to the people to always incorporate toilets into their building plan.

    He, however, pledged the state government’s resolve to maintain toilets in public places such as parks and markets.

    The , Nigerians in Diaspora Commission, Dr Abike Dabiri-Erewa, said the initiative was in tandem with NiDCOM’s mandate of harnessing the potentials of Nigerians in Diaspora for national growth and development Dabiri-Erewa, represented by Mr Oladipo Odebowale, urged other Diasporans and Nigerians to emulate the worthy gesture, as a support to national development efforts.

    The Coordinator, OPS-WASH, Dr Nicholas Igwe, emphasised the significance of collaboration and partnership, saying the private sector would continue to work with and all stakeholders to achieve the 2025 ODF target.

    Clean Nigeria Campaign Coordinator, Mrs Chizoba Opara, said ODF Nigeria was achievable with the right political will and collective support of all stakeholders.

    High points of the occasion were the unveiling of the toilet facility and the distribution of autographed Real Madrid Jerseys to three successful winners by the David Alaba Foundation.


    NewsSourceCredit: NAN

  •  Presidential candidate of the Peoples Democratic Party PDP Atiku Abubakar played a major role in pushing millions of Nigerians into the unemployment market and into poverty as Vice President between 1999 and 2007 This according to the Buhari Media Organisation BMO is contrary to the impression Atiku sold in his presentation at the recent Lagos Chamber of Commerce and Industry LCCI Presidential Economic Agenda Forum BMO said in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke that the former Vice President and his party were largely responsible for the mess the All Progressives Congress APC led administration had been cleaning in the last seven years It was meant to be an economic forum for the Peoples Democratic Party s flag bearer to give the Organized Private Sector OPS an insight into what he has to offer but he preferred to use it as an opportunity to again demonize President Buhari and his administration So not surprising Atiku went ahead to limit all the problems in the country to the tenure of the incumbent government which he claimed was responsible for massive and regrettable level of unemployment But what he deliberately left out is the fact that Nigeria s unemployment figure in the PDP era was 112million out of a population of 160m inspite of a higher oil revenue for a sustainable period with no global pandemic or a war with grave worldwide economic implication It is public knowledge the former Vice President laid the groundwork for that high number of unemployed people as the man who presided over the much abused privatisation programme that led to massive job cuts with no fall back plans for those pushed into the labour market We find it funny that same man is pledging funding for small businesses when the administration he served and the party were more interested in protecting the interest of the political elite for 16 years rather than providing a social safety net for the poor and vulnerable The PDP candidate also made it look like Nigeria began running a budget deficit under Buhari when publicly available information showed that it started in 2011 when the country actually had an oil boom but with little effort at economic diversification It was also a period that the country s infrastructure deficit began to rise menacingly with successive PDP administrations doing little or nothing to bridge the gap that Atiku is now pledging to commit 20billion dollars to with private sector support the group said BMO added that it was interesting to see the former Vice President promising things that the Buhari administration has already put in place in a different way The APC led Buhari administration has already put in place several Public Private Partnership PPP initiatives in infrastructure on the back of Executive Order 7 which a number of key private sector players have already embraced to reconstruct some roads in exchange for tax credit across the six geo political zones This is aside from the National Council on Infrastructure that has already been set up to encourage private sector involvement in infrastructure development and the Presidential Infrastructure Development Fund PIDF which is already up and running So what the perennial presidential candidate is doing amounts to seeking to giraffing or spying nothing more in proposing OPS involvement in infrastructure development But what we like many Nigerians find laughable is Atiku s plan to propose a legislation to remove electricity from the exclusive list even when it has been in the news for at least three months that President Buhari and the National Assembly have began a process of decentralizing the power sector So we agree with those who say that the former Vice President had stayed too long in Dubai that he has lost track of what is happening in the country The group said that the former Vice President simply showed in his LCCI presentation that he has nothing to offer Nigeria and Nigerians ABI NewsSourceCredit NAN
    How Atiku, PDP engineered mass poverty on Nigerians: BMO
     Presidential candidate of the Peoples Democratic Party PDP Atiku Abubakar played a major role in pushing millions of Nigerians into the unemployment market and into poverty as Vice President between 1999 and 2007 This according to the Buhari Media Organisation BMO is contrary to the impression Atiku sold in his presentation at the recent Lagos Chamber of Commerce and Industry LCCI Presidential Economic Agenda Forum BMO said in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke that the former Vice President and his party were largely responsible for the mess the All Progressives Congress APC led administration had been cleaning in the last seven years It was meant to be an economic forum for the Peoples Democratic Party s flag bearer to give the Organized Private Sector OPS an insight into what he has to offer but he preferred to use it as an opportunity to again demonize President Buhari and his administration So not surprising Atiku went ahead to limit all the problems in the country to the tenure of the incumbent government which he claimed was responsible for massive and regrettable level of unemployment But what he deliberately left out is the fact that Nigeria s unemployment figure in the PDP era was 112million out of a population of 160m inspite of a higher oil revenue for a sustainable period with no global pandemic or a war with grave worldwide economic implication It is public knowledge the former Vice President laid the groundwork for that high number of unemployed people as the man who presided over the much abused privatisation programme that led to massive job cuts with no fall back plans for those pushed into the labour market We find it funny that same man is pledging funding for small businesses when the administration he served and the party were more interested in protecting the interest of the political elite for 16 years rather than providing a social safety net for the poor and vulnerable The PDP candidate also made it look like Nigeria began running a budget deficit under Buhari when publicly available information showed that it started in 2011 when the country actually had an oil boom but with little effort at economic diversification It was also a period that the country s infrastructure deficit began to rise menacingly with successive PDP administrations doing little or nothing to bridge the gap that Atiku is now pledging to commit 20billion dollars to with private sector support the group said BMO added that it was interesting to see the former Vice President promising things that the Buhari administration has already put in place in a different way The APC led Buhari administration has already put in place several Public Private Partnership PPP initiatives in infrastructure on the back of Executive Order 7 which a number of key private sector players have already embraced to reconstruct some roads in exchange for tax credit across the six geo political zones This is aside from the National Council on Infrastructure that has already been set up to encourage private sector involvement in infrastructure development and the Presidential Infrastructure Development Fund PIDF which is already up and running So what the perennial presidential candidate is doing amounts to seeking to giraffing or spying nothing more in proposing OPS involvement in infrastructure development But what we like many Nigerians find laughable is Atiku s plan to propose a legislation to remove electricity from the exclusive list even when it has been in the news for at least three months that President Buhari and the National Assembly have began a process of decentralizing the power sector So we agree with those who say that the former Vice President had stayed too long in Dubai that he has lost track of what is happening in the country The group said that the former Vice President simply showed in his LCCI presentation that he has nothing to offer Nigeria and Nigerians ABI NewsSourceCredit NAN
    How Atiku, PDP engineered mass poverty on Nigerians: BMO
    General news3 weeks ago

    How Atiku, PDP engineered mass poverty on Nigerians: BMO

    Presidential candidate of the Peoples Democratic Party (PDP) Atiku Abubakar played a major role in pushing millions of Nigerians into the unemployment market and into poverty as Vice President between 1999 and 2007. This, according to the Buhari Media Organisation (BMO), is contrary to the impression Atiku sold in his presentation at the recent Lagos Chamber of Commerce and Industry (LCCI) Presidential Economic Agenda Forum.

    BMO said in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, that the former Vice President and his party were largely responsible for the mess the All Progressives Congress APC-led administration had been cleaning in the last seven years.

    “It was meant to be an economic forum for the Peoples Democratic Party’s flag bearer to give the Organized Private Sector (OPS) an insight into what he has to offer, but he preferred to use it as an opportunity to again demonize President Buhari and his administration.

    “So, not surprising, Atiku went ahead to limit all the problems in the country to the tenure of the incumbent government which he claimed was responsible for massive and regrettable level of unemployment.

    “But what he deliberately left out is the fact that Nigeria’s unemployment figure in the PDP era was 112million out of a population of 160m, inspite of a higher oil revenue for a sustainable period with no global pandemic or a war with grave  worldwide economic implication.

    “It is public knowledge the former Vice President laid the groundwork for that high number of unemployed people as the man who presided over the much abused privatisation programme that led to massive job cuts with no fall back plans for those pushed into the labour market.

    “We find it funny that same man is pledging funding for small businesses when the administration he served and the party were more interested in protecting the interest of the political elite for 16 years rather than providing a social safety net for the poor and vulnerable.

    “The PDP candidate also made it look like Nigeria began running a budget deficit under Buhari, when publicly available information showed that it started in 2011 when the country actually had an oil boom but with little effort at economic diversification.

    “It was also a period that the country’s infrastructure deficit began to rise menacingly with successive PDP administrations doing little or nothing to bridge the gap that Atiku is now pledging to commit 20billion dollars to, with private sector support,” the group said.

    BMO added that it was interesting to see the former Vice President promising things that the Buhari administration has already put in place in a different way.

    “The APC-led Buhari administration has already put in place several Public Private Partnership (PPP) initiatives in infrastructure on the back of Executive Order 7 which a number of key private sector players have already embraced to reconstruct some roads in exchange for tax credit across the six geo-political zones.

    “This is aside from the National Council on Infrastructure that has already been set up to encourage private sector involvement in infrastructure development and the Presidential Infrastructure Development Fund (PIDF) which is already up and running.

    “So what the perennial presidential candidate is doing amounts to seeking to ‘giraffing’ or spying; nothing more, in proposing OPS involvement in infrastructure development.

    “But what we, like many Nigerians, find laughable is Atiku’s plan to propose a legislation to remove electricity from the exclusive list even when it has been in the news for at least three months, that President Buhari and the National Assembly have began a process of decentralizing the power sector.

    “So we agree with those who say that  the former Vice President had stayed too long in Dubai that he has lost track of what is happening in the country.

    ” The group said that the former Vice-President simply showed in his LCCI presentation that he has nothing to offer Nigeria and Nigerians.

    ABI  
    NewsSourceCredit: NAN

  •  The Clean Nigeria Steering Committee chaired by Vice President Yemi Osinbajo has approved measures to end open defecation in Nigeria by 2025 Osinbajo s spokesman Laolu Akande in a statement on Thursday in Abuja said the committee approved measures to accelerate access to Water Sanitation and Hygiene WASH The committee virtually approved prayers contained in the Clean Nigeria Use the Toilet Campaign 2022 mid year report The Minister of Water Resources Engr Suleiman Adamu had earlier made a presentation on the ongoing Clean Nigeria campaign He said that the slow advancement in the finalisation and roll out of the Tax Credit Scheme and Blue Bond Programme as part of challenges affecting the country wide campaign The prayers to the steering committee approved during the meeting include support strong advocacy to policy makers at subnational level for prioritisation and funding of campaign implementation Support strong advocacy on public private partnership for sanitation services improvement in public places Support of Federal Ministry of Finance Budget and National Planning on the finalization of the issuance of the Blue Bond Support of Federal Ministry of Justice Federal Ministry of Finance and the Federal Inland Revenue Service on the finalization of Tax Credit Scheme under the Executive Order 009 Federal Ministries of Education Environment and Health to accelerate the initiative of Schools WASH and Health WASH program towards improving access to Sanitation and Hygiene facilities in schools and Healthcare centres Members of steering committee to champion the delivery of their respective LGAs as Open Defecation Free in collaboration with the Clean Nigeria Campaign Secretariat Speaking while approving the prayers contained in the report Osinbajo said the recommendations captured the gaps and the sort of support required I think that we are making steady progress but there is need for us to do a bit more because only 18 per cent of our people have access to Water Sanitation and Hygiene in public places He said that performances in schools and public places must improve The vice president called on stakeholders to do more with the sub nationals The states hold the aces to make the required efforts to make substantial progress The fact that more states have Open Defecation Free ODF status means we are on course Other officials present at the meeting included the Minister of Environment Mr Mohammed Abdullahi Head of Civil Service of the Federation Dr Folashade Yemi Esan and representatives of the Association of Local Governments of Nigeria ALGON Representatives of UNICEF the Organised Private Sector Water Sanitation and Hygiene OPS WASH and the Diaspora Commission also attended the meeting NewsSourceCredit NAN
    Osinbajo-led committee approves measures to end open defecation  
     The Clean Nigeria Steering Committee chaired by Vice President Yemi Osinbajo has approved measures to end open defecation in Nigeria by 2025 Osinbajo s spokesman Laolu Akande in a statement on Thursday in Abuja said the committee approved measures to accelerate access to Water Sanitation and Hygiene WASH The committee virtually approved prayers contained in the Clean Nigeria Use the Toilet Campaign 2022 mid year report The Minister of Water Resources Engr Suleiman Adamu had earlier made a presentation on the ongoing Clean Nigeria campaign He said that the slow advancement in the finalisation and roll out of the Tax Credit Scheme and Blue Bond Programme as part of challenges affecting the country wide campaign The prayers to the steering committee approved during the meeting include support strong advocacy to policy makers at subnational level for prioritisation and funding of campaign implementation Support strong advocacy on public private partnership for sanitation services improvement in public places Support of Federal Ministry of Finance Budget and National Planning on the finalization of the issuance of the Blue Bond Support of Federal Ministry of Justice Federal Ministry of Finance and the Federal Inland Revenue Service on the finalization of Tax Credit Scheme under the Executive Order 009 Federal Ministries of Education Environment and Health to accelerate the initiative of Schools WASH and Health WASH program towards improving access to Sanitation and Hygiene facilities in schools and Healthcare centres Members of steering committee to champion the delivery of their respective LGAs as Open Defecation Free in collaboration with the Clean Nigeria Campaign Secretariat Speaking while approving the prayers contained in the report Osinbajo said the recommendations captured the gaps and the sort of support required I think that we are making steady progress but there is need for us to do a bit more because only 18 per cent of our people have access to Water Sanitation and Hygiene in public places He said that performances in schools and public places must improve The vice president called on stakeholders to do more with the sub nationals The states hold the aces to make the required efforts to make substantial progress The fact that more states have Open Defecation Free ODF status means we are on course Other officials present at the meeting included the Minister of Environment Mr Mohammed Abdullahi Head of Civil Service of the Federation Dr Folashade Yemi Esan and representatives of the Association of Local Governments of Nigeria ALGON Representatives of UNICEF the Organised Private Sector Water Sanitation and Hygiene OPS WASH and the Diaspora Commission also attended the meeting NewsSourceCredit NAN
    Osinbajo-led committee approves measures to end open defecation  
    General news2 months ago

    Osinbajo-led committee approves measures to end open defecation  

    The Clean Nigeria Steering Committee chaired by Vice President Yemi Osinbajo has approved measures to end open defecation in Nigeria by 2025. Osinbajo’s spokesman, Laolu Akande, in a statement on Thursday in Abuja, said the committee approved measures to accelerate access to Water, Sanitation and Hygiene (WASH).

    The committee virtually approved prayers contained in the “Clean Nigeria: Use the Toilet Campaign”, 2022 mid-year report.

    The Minister of Water Resources, Engr. Suleiman Adamu, had earlier made a presentation on the ongoing Clean Nigeria campaign.

    He said that the slow advancement in the finalisation and roll out of the Tax Credit Scheme and Blue Bond Programme as part of challenges affecting the country-wide campaign.

    The prayers to the steering committee approved during the meeting include support strong advocacy to policy makers at subnational level for prioritisation and funding of campaign implementation “ Support strong advocacy on public private partnership for sanitation services improvement in public places “Support of Federal Ministry of Finance, Budget and National Planning on the finalization of the issuance of the Blue Bond “Support of Federal Ministry of Justice, Federal Ministry of Finance and the Federal Inland Revenue Service on the finalization of Tax Credit Scheme under the Executive Order 009 “Federal Ministries of Education, Environment and Health to accelerate the initiative of Schools WASH and Health WASH program towards improving access to Sanitation and Hygiene facilities in schools and Healthcare centres “Members of steering committee to champion the delivery of their respective LGAs as Open Defecation Free in collaboration with the Clean Nigeria Campaign Secretariat.

    ’’ Speaking while approving the prayers contained in the report,  Osinbajo said the recommendations captured the gaps and the sort of support required.

    “I think that we are making steady progress but there is need for us to do a bit more because only 18 per cent of our people have access to Water, Sanitation and Hygiene in public places.

    ” He said that performances in schools and public places must improve.

    The vice president called on stakeholders to do more with the sub-nationals.

    “The states hold the aces to make the required efforts to make substantial progress.

    “The fact that more states have Open Defecation Free (ODF) status means we are on course.

    ” Other officials present at the meeting included the Minister of Environment, Mr Mohammed Abdullahi, Head of Civil Service of the Federation, Dr Folashade Yemi-Esan and representatives of the Association of Local Governments of Nigeria (ALGON).

    Representatives of UNICEF, the Organised Private Sector Water, Sanitation and Hygiene (OPS WASH), and the Diaspora Commission also attended the meeting.


    NewsSourceCredit: NAN

  •  An Organised Private Sector OPS stakeholders have called on the Federal Government to address crude oil theft and other macroeconomic fundamentals to navigate the Nigerian economy to the path of growth They gave the advice at the third quarter council meeting of the Lagos Chamber of Commerce and Industry LCCI and the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture NACCIMA on Wednesday in Lagos Dr Michael Olawale Cole President LCCI said the event was crucial to review major economic developments and communicate the chambers position to the wider business community and the government for a thriving private sector The LCCI president said the menace of oil theft had become a national disaster and a critical threat to the nation s revenue base According to him Nigeria is losing crude oil at the level of about 91 per cent of output as the country lost 3 2 billion dollars in crude oil theft between January 2021 and February 2022 The twins factor of fuel subsidy payments and crude oil theft have combined to deny Nigeria the gains of the high crude oil price on the international market he said Olawale Cole said that the country s total public debt stock rose from N39 56 trillion in December 2021 to N41 60 trillion about 100 07 billion by the end of the second quarter of 2022 as revealed by the Debt Management Office DMO He added that Nigeria s debt to Gross Domestic Product GDP ratio currently stood at 23 27 per cent against 22 43 per cent on Dec 31 2021 The LCCI president said the development had already resulted in concerns that most if not all of the assumptions in the Medium Term Expenditure framework MTEF 2023 2025 would be missed This he explained was as the country continued to experience unprecedented levels of disruptions to supply chains and agricultural production In the face of rising debt servicing costs accompanied by a dwindling revenue the provision of critical infrastructure and amenities like healthcare services education power roads and security will be hard hit as funding shrinks he said Olawale Cole also urged monetary authorities to liberalise the foreign exchange market by unifying the multiple rates and ensure that rates were market driven to enhance stability liquidity and transparency in the foreign exchange market The unification is expected to improve our currency management framework given that the multiple exchange rate systems have continued to create uncertainties and sources of arbitrage he said The LCCI president also appealed to the Federal Government and the Academic Staff Union of Universities ASUU to come to an agreement as soon as possible to end the ongoing industrial action We cannot look to half baked graduates to build a prosperous economy Nigeria must begin to pay more attention to improving its latest Human Development Index HDI which stood at 161 out of 189 countries he said Olawale Cole expressed concern about the worsening insecurity profile of the country saying that it posed an apparent threat to the forthcoming general elections in 2023 and by extension a threat to democratic governance He said that in the absence of peace and security it would be challenging to hold credible free and fair elections that would reflect the choices of the electorate in choosing those that should lead them We need to address the root causes of youths unemployment drug abuse uncontrolled small arms and unmanned borders through which foreigners infiltrate our territories We also need to boost security enforcement through frequent recruitments into the security agencies and well supported with modern weaponry and deployment of warfare technology Community policing and intelligence gathering need to be officially endorsed and systematically managed he said In his remarks Ude Udeagbala President NACCIMA lauded the Lagos State Government for its efforts in supporting the private sector and accommodating its needs under the THEMES agenda Udeagbala urged members of the private sector to engage politicians and political parties in discourse to know their plans for the private sector as the electioneering year approached This would further help convey our plights to the incoming governments he said The Secretary to the Lagos State Government Mrs Folasade Jaji said the state would continue to leverage recommendations from the private sector to discern challenges affecting it Jaji represented by Mrs Olabisi Shonibare Director Political Affairs charged the sector to engage best practices in trade investments and commerce to solidify the state as the best investment destination On our parts we would continue to promote more friendly environment for enterprises and provide workable solution to all the challenges she said www nannews ng NewsSourceCredit NAN
    LCCI, NACCIMA urge FG to address crude oil theft, rising debt profile
     An Organised Private Sector OPS stakeholders have called on the Federal Government to address crude oil theft and other macroeconomic fundamentals to navigate the Nigerian economy to the path of growth They gave the advice at the third quarter council meeting of the Lagos Chamber of Commerce and Industry LCCI and the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture NACCIMA on Wednesday in Lagos Dr Michael Olawale Cole President LCCI said the event was crucial to review major economic developments and communicate the chambers position to the wider business community and the government for a thriving private sector The LCCI president said the menace of oil theft had become a national disaster and a critical threat to the nation s revenue base According to him Nigeria is losing crude oil at the level of about 91 per cent of output as the country lost 3 2 billion dollars in crude oil theft between January 2021 and February 2022 The twins factor of fuel subsidy payments and crude oil theft have combined to deny Nigeria the gains of the high crude oil price on the international market he said Olawale Cole said that the country s total public debt stock rose from N39 56 trillion in December 2021 to N41 60 trillion about 100 07 billion by the end of the second quarter of 2022 as revealed by the Debt Management Office DMO He added that Nigeria s debt to Gross Domestic Product GDP ratio currently stood at 23 27 per cent against 22 43 per cent on Dec 31 2021 The LCCI president said the development had already resulted in concerns that most if not all of the assumptions in the Medium Term Expenditure framework MTEF 2023 2025 would be missed This he explained was as the country continued to experience unprecedented levels of disruptions to supply chains and agricultural production In the face of rising debt servicing costs accompanied by a dwindling revenue the provision of critical infrastructure and amenities like healthcare services education power roads and security will be hard hit as funding shrinks he said Olawale Cole also urged monetary authorities to liberalise the foreign exchange market by unifying the multiple rates and ensure that rates were market driven to enhance stability liquidity and transparency in the foreign exchange market The unification is expected to improve our currency management framework given that the multiple exchange rate systems have continued to create uncertainties and sources of arbitrage he said The LCCI president also appealed to the Federal Government and the Academic Staff Union of Universities ASUU to come to an agreement as soon as possible to end the ongoing industrial action We cannot look to half baked graduates to build a prosperous economy Nigeria must begin to pay more attention to improving its latest Human Development Index HDI which stood at 161 out of 189 countries he said Olawale Cole expressed concern about the worsening insecurity profile of the country saying that it posed an apparent threat to the forthcoming general elections in 2023 and by extension a threat to democratic governance He said that in the absence of peace and security it would be challenging to hold credible free and fair elections that would reflect the choices of the electorate in choosing those that should lead them We need to address the root causes of youths unemployment drug abuse uncontrolled small arms and unmanned borders through which foreigners infiltrate our territories We also need to boost security enforcement through frequent recruitments into the security agencies and well supported with modern weaponry and deployment of warfare technology Community policing and intelligence gathering need to be officially endorsed and systematically managed he said In his remarks Ude Udeagbala President NACCIMA lauded the Lagos State Government for its efforts in supporting the private sector and accommodating its needs under the THEMES agenda Udeagbala urged members of the private sector to engage politicians and political parties in discourse to know their plans for the private sector as the electioneering year approached This would further help convey our plights to the incoming governments he said The Secretary to the Lagos State Government Mrs Folasade Jaji said the state would continue to leverage recommendations from the private sector to discern challenges affecting it Jaji represented by Mrs Olabisi Shonibare Director Political Affairs charged the sector to engage best practices in trade investments and commerce to solidify the state as the best investment destination On our parts we would continue to promote more friendly environment for enterprises and provide workable solution to all the challenges she said www nannews ng NewsSourceCredit NAN
    LCCI, NACCIMA urge FG to address crude oil theft, rising debt profile
    Economy2 months ago

    LCCI, NACCIMA urge FG to address crude oil theft, rising debt profile

    An Organised Private Sector ((OPS) stakeholders have called on the Federal Government to address crude oil theft and other macroeconomic fundamentals to navigate the Nigerian economy to the path of growth.

    They gave the advice at the third quarter council meeting of the Lagos Chamber of Commerce and Industry (LCCI) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) on Wednesday in Lagos.

    Dr Michael Olawale-Cole, President, LCCI, said the event was crucial to review major economic developments and communicate the chambers’ position to the wider business community and the government for a thriving private sector.

    The LCCI president said the menace of oil theft had become a national disaster and a critical threat to the nation’s revenue base.

    According to him, Nigeria is losing crude oil at the level of about 91 per cent of output, as the country lost 3.2 billion dollars in crude oil theft between January 2021 and February 2022. “The twins factor of fuel subsidy payments and crude oil theft have combined to deny Nigeria the gains of the high crude oil price on the international market,” he said.

    Olawale-Cole said that the country’s total public debt stock rose from N39.56 trillion in December 2021 to N41.60 trillion (about $100.07 billion) by the end of the second quarter of 2022, as revealed by the Debt Management Office (DMO).

    He added that Nigeria’s debt to Gross Domestic Product (GDP) ratio currently stood at 23.27 per cent against 22.43 per cent on Dec. 31, 2021. The LCCI president said the development had already resulted in concerns that most, if not all, of the assumptions in the Medium-Term Expenditure framework (MTEF) 2023-2025 would be missed.

    This, he explained, was as the country continued to experience unprecedented levels of disruptions to supply chains and agricultural production.

    “In the face of rising debt servicing costs accompanied by a dwindling revenue, the provision of critical infrastructure and amenities like healthcare services, education, power, roads and security will be hard hit as funding shrinks,” he said.

    Olawale-Cole also urged monetary authorities to liberalise the foreign exchange market by unifying the multiple rates and ensure that rates were market-driven to enhance stability, liquidity and transparency in the foreign exchange market.

    “The unification is expected to improve our currency management framework, given that the multiple exchange rate systems have continued to create uncertainties and sources of arbitrage,” he said.

    The LCCI president also appealed to the Federal Government and the Academic Staff Union of Universities (ASUU) to come to an agreement as soon as possible to end the ongoing industrial action.

    “We cannot look to half-baked graduates to build a prosperous economy.

    “Nigeria must begin to pay more attention to improving its latest Human Development Index (HDI) which stood at 161 out of 189 countries,” he said.

    Olawale-Cole expressed concern about the worsening insecurity profile of the country, saying that it posed an apparent threat to the forthcoming general elections in 2023 and, by extension, a threat to democratic governance.

    He said that in the absence of peace and security, it would be challenging to hold credible, free and fair elections that would reflect the choices of the electorate in choosing those that should lead them.

    “We need to address the root causes of youths unemployment, drug abuse, uncontrolled small arms and unmanned borders through which foreigners infiltrate our territories.

    “We also need to boost security enforcement through frequent recruitments into the security agencies and well supported with modern weaponry and deployment of warfare technology.

    “Community policing and intelligence gathering need to be officially endorsed and systematically managed,” he said.

    In his remarks, Ude Udeagbala, President, NACCIMA, lauded the Lagos State Government for its efforts in supporting the private sector and accommodating its needs under the THEMES agenda.

    Udeagbala urged members of the private sector to engage politicians and political parties in discourse to know their plans for the private sector, as the electioneering year approached.

    “This would further help convey our plights to the incoming governments,” he said.

    The Secretary to the Lagos State Government, Mrs Folasade Jaji, said the state would continue to leverage recommendations from the private sector to discern challenges affecting it.

    Jaji, represented by Mrs Olabisi Shonibare, Director, Political Affairs, charged the sector to engage best practices in trade, investments and commerce to solidify the state as the best investment destination.

    “On our parts, we would continue to promote more friendly environment for enterprises and provide workable solution to all the challenges,” she said.

    (www.

    nannews.

    ng)•
    NewsSourceCredit: NAN

  •  The Association of Corporate Affairs Managers of Banks ACAMB has stressed the need for active and synergistic relationship between the banking and private sector for economic growth and development ACAMB said this in a communique issued at the end of the first national stakeholders conference between the banking industry and the Organised Private Sector OPS The communique issued in Lagos on Thursday was jointly signed by Mr Rasheed Bolarinwa the President ACAMB for the promoters and Dr Seye Awojobi the Executive Officer Chartered Institute of Bankers of Nigeria CIBN for partners It stated that stakeholders collectively agreed on the importance of effective synergy and good working relationship between the banking industry and the OPS given the critical roles of the two sectors in overall national economic development The conference agreed to work with all stakeholders going forward to create a more effective financing structure that would ensure increased accessibility to funding into the real sector The communique said that a consultative committee of experts and stakeholders drawn from across the sectors and relevant agencies and institutions would be constituted for continuing and enduring dialogue between the banking sector and the OPS The statement said that the committee would enhance funding and monitoring of the impact on the real sector It added that ACAMB and the CIBN would work together on thr joint action body It urged the OPS to take advantage of specialised development finance institutions created by government with active funding from the CBN to access affordable funding It also said that the CBN was opened to suggestions and feedback on its programmes and banking operations from all stakeholders It added that the apex bank was ever willing to further collaborate in addressing the issue of effective funding of the OPS The communique advised the banking sector and the OPS to put national interest uppermost in their business relationships and avoid deliberate acts of sabotage in the guise of transactions It noted that there was a need for fiscal policy measures to complement current funding initiatives by the banking industry in support of the real sector The CBN should increase foreign exchange allocation to the real sector by restoring the priority window and dedicated access for manufacturers while members of the OPS should repatriate foreign exchange to enable the apex bank sustain forex management In order to foster greater understanding and knowledge of operations of each sub sector of the OPS Deposit Money Banks DMBs should develop in house expertise through dedicated desks and requisite professionals of key segments of the OPS ACAMB and CIBN should institutionalise the conference initiative and ensure that subsequent editions are all inclusive of critical players in the Nigerian economy it said NewsSourceCredit NAN
    ACAMB seeks enhanced synergy for economic growth
     The Association of Corporate Affairs Managers of Banks ACAMB has stressed the need for active and synergistic relationship between the banking and private sector for economic growth and development ACAMB said this in a communique issued at the end of the first national stakeholders conference between the banking industry and the Organised Private Sector OPS The communique issued in Lagos on Thursday was jointly signed by Mr Rasheed Bolarinwa the President ACAMB for the promoters and Dr Seye Awojobi the Executive Officer Chartered Institute of Bankers of Nigeria CIBN for partners It stated that stakeholders collectively agreed on the importance of effective synergy and good working relationship between the banking industry and the OPS given the critical roles of the two sectors in overall national economic development The conference agreed to work with all stakeholders going forward to create a more effective financing structure that would ensure increased accessibility to funding into the real sector The communique said that a consultative committee of experts and stakeholders drawn from across the sectors and relevant agencies and institutions would be constituted for continuing and enduring dialogue between the banking sector and the OPS The statement said that the committee would enhance funding and monitoring of the impact on the real sector It added that ACAMB and the CIBN would work together on thr joint action body It urged the OPS to take advantage of specialised development finance institutions created by government with active funding from the CBN to access affordable funding It also said that the CBN was opened to suggestions and feedback on its programmes and banking operations from all stakeholders It added that the apex bank was ever willing to further collaborate in addressing the issue of effective funding of the OPS The communique advised the banking sector and the OPS to put national interest uppermost in their business relationships and avoid deliberate acts of sabotage in the guise of transactions It noted that there was a need for fiscal policy measures to complement current funding initiatives by the banking industry in support of the real sector The CBN should increase foreign exchange allocation to the real sector by restoring the priority window and dedicated access for manufacturers while members of the OPS should repatriate foreign exchange to enable the apex bank sustain forex management In order to foster greater understanding and knowledge of operations of each sub sector of the OPS Deposit Money Banks DMBs should develop in house expertise through dedicated desks and requisite professionals of key segments of the OPS ACAMB and CIBN should institutionalise the conference initiative and ensure that subsequent editions are all inclusive of critical players in the Nigerian economy it said NewsSourceCredit NAN
    ACAMB seeks enhanced synergy for economic growth
    Economy2 months ago

    ACAMB seeks enhanced synergy for economic growth

    The Association of Corporate Affairs Managers of Banks (ACAMB) has stressed the need for active and synergistic relationship between the banking and private sector for economic growth and development.

    ACAMB said this in a communique issued at the end of the first national stakeholders conference between the banking industry and the Organised Private Sector (OPS).

    The communique issued in Lagos on Thursday was jointly signed by Mr Rasheed Bolarinwa, the President, ACAMB for the promoters and Dr Seye Awojobi, the Executive Officer Chartered Institute of Bankers of Nigeria (CIBN) for partners.

    It stated that stakeholders collectively agreed on the importance of effective synergy and good working relationship between the banking industry and the OPS given the critical roles of the two sectors in overall national economic development.

    The conference agreed to work with all stakeholders, going forward, to create a more effective financing structure that would ensure increased accessibility to funding into the real sector.

    The communique said that a consultative committee of experts and stakeholders drawn from across the sectors and relevant agencies and  institutions would be constituted for continuing and enduring dialogue between the banking sector and the OPS.

    The statement said that the committee would enhance funding and monitoring of the impact on the real sector.

    It added that ACAMB and the CIBN would work together on thr joint action-body.

    It urged the OPS to take advantage of specialised development finance institutions created by government with active funding from the CBN to access affordable funding.

    It also said that the CBN was opened to suggestions and feedback on its programmes and banking operations from all stakeholders.

    It added that the apex bank was ever willing to further collaborate in addressing the issue of effective funding of the OPS.

    The communique advised the banking sector and the OPS to put national interest uppermost in their business relationships and avoid deliberate acts of sabotage in the guise of transactions.

    It noted that there was a need for fiscal policy measures to complement current funding initiatives by the banking industry in support of the real sector.

    “The CBN should increase foreign exchange allocation to the real sector by restoring the priority window and dedicated access for manufacturers while members of the OPS should repatriate foreign exchange to enable the apex bank sustain forex management.

    “In order to foster greater understanding and knowledge of operations of each sub-sector of the OPS, Deposit Money Banks (DMBs) should develop in-house expertise through dedicated desks and requisite professionals of key segments of the OPS.

    “ACAMB and CIBN should institutionalise the conference initiative, and ensure that subsequent editions are all inclusive of critical players in the Nigerian economy,” it said.


    NewsSourceCredit: NAN

  •  The Manufacturers Association of Nigeria MAN on Wednesday urged commercial banks and the Organised Private Sector OPS to join hands to grow the economy Mr Mansur Ahmed President of MAN gave the advice at the first National Stakeholders Conference organised by the Association of Corporate Affairs Managers of Banks ACAMB in partnership with the Chartered Institute of Bankers of Nigeria CIBN in Lagos The News Agency of Nigeria reports that the conference supported by Access Bank Ecobank FirstBank and Zenith Bank had Promoting Synergy Between the Banking Industry and the Organised Private Sector as the theme Ahmed said that the performance and development of both sectors were expedient for the sustainability of the economy hence the need for both sectors to work together to reduce poverty attract investment and boost economic growth The traditional industry bank lending relationship is no longer supporting the growth of the industry the bank and the economy as a whole Industry activities have massively declined showing rising number of moribund industries across the country and the increasing capital flight Based on this information it is important that the commercial banks and the industry should come together to chart new ways of supporting each other to the benefit of all There is no doubt that the industry needs the bank to increase investment and production while the bank needs the industry for interest payment incomes and equity subscription he said He therefore recommended that the commercial bank should develop corporate patriotism to strengthen the willingness to lend at the interest rate that supports both the industry and the banking sector for the sake of the economy He stressed the need to prioritise attention to industry foreign exchange requests particularly in this period of acute shortage Ahmed represented by Mr Ambrose Oruche Director Corporate Services of MAN also urged the banks to ensure that government or international development funds were well accessed without undue difficult conditionality He recommended the creation of a process that would support equipment acquisition in the industry and creation of funds to support industry bank joint venture for easy financing of specific industry business He also suggested the creation of a unit for business support and capacity development for the industry as well as a trade support unit Mr Ide Udeagbala President Nigerian Association of Chambers of Commerce Industry Mines and Agriculture NACCIMA represented by Mr Ayo Osinloye urged stakeholders to provide answers to the difficult challenges being faced by the private sector They face weak infrastructure especially in terms of power transportation and workspace They lack a collective voice and have relatively weak influence of policy formulation They have poor access to vital resources especially finance Udeagbala said Also speaking Mr Eboagwu Ezulu Deputy Director Financial System Stability Directorate of the Central Bank of Nigeria CBN advised the OPS to approach the development financing institutions for financial assistance I am aware that the Development Bank of Nigeria was established in collaboration with the CBN to provide funding as well as the Bank of Industry established to support the manufacturing sector Have we the manufacturing sector approached those entities to utilise the funds available rather than asking the commercial banks Banks are supposed to approach the CBN on behalf of their customers to solve these problems the commercial banks lend for credit purpose they have the primary responsibility to protect their depositors Ezulu said Dr Ken Opara the CIBN President noted that the organised private sectors were the real drivers of real sector growth and economic advancement through industrialisation job creation provision of goods and services and poverty alleviation Thus a well functioning financial system and a rigorous private sector are important drivers of national growth in terms of Gross Domestic Product employment generation economic stability and poverty reduction However I must admit that there are still a lot of untapped opportunity between these two critical sectors some of which are attributable to lack of proper handshake between the bodies Given the interdependence of both sector it has become imperative for both to work mutually for the growth of the nation s economy Opara said Earlier Mr Rasheed Bolarinwa President ACAMB said that the outlook of the conference was essentially to develop a workable roadmap for the two sectors to synergise for the benefit of the national economy Finance the essence of banking is the driving force for the private sector Capital is probably the primary factor of production On the other side the private sector as the end users of banking services and the largest sector of the economy is also conversely the driver of a sustainable and viral banking sector So I will say there is a symbiotic relationship between the two sectors banking is important to the private sector just as the private sector is important to the banks That explains why this conference is taking place So it is safe to conclude that the more active and synergistic the relationship between banking and private sector the more we are collectively able to develop and grow the national economy for sustainable Nigeria he said NewsSourceCredit NAN
    MAN tasks banks, OPS on economic growth
     The Manufacturers Association of Nigeria MAN on Wednesday urged commercial banks and the Organised Private Sector OPS to join hands to grow the economy Mr Mansur Ahmed President of MAN gave the advice at the first National Stakeholders Conference organised by the Association of Corporate Affairs Managers of Banks ACAMB in partnership with the Chartered Institute of Bankers of Nigeria CIBN in Lagos The News Agency of Nigeria reports that the conference supported by Access Bank Ecobank FirstBank and Zenith Bank had Promoting Synergy Between the Banking Industry and the Organised Private Sector as the theme Ahmed said that the performance and development of both sectors were expedient for the sustainability of the economy hence the need for both sectors to work together to reduce poverty attract investment and boost economic growth The traditional industry bank lending relationship is no longer supporting the growth of the industry the bank and the economy as a whole Industry activities have massively declined showing rising number of moribund industries across the country and the increasing capital flight Based on this information it is important that the commercial banks and the industry should come together to chart new ways of supporting each other to the benefit of all There is no doubt that the industry needs the bank to increase investment and production while the bank needs the industry for interest payment incomes and equity subscription he said He therefore recommended that the commercial bank should develop corporate patriotism to strengthen the willingness to lend at the interest rate that supports both the industry and the banking sector for the sake of the economy He stressed the need to prioritise attention to industry foreign exchange requests particularly in this period of acute shortage Ahmed represented by Mr Ambrose Oruche Director Corporate Services of MAN also urged the banks to ensure that government or international development funds were well accessed without undue difficult conditionality He recommended the creation of a process that would support equipment acquisition in the industry and creation of funds to support industry bank joint venture for easy financing of specific industry business He also suggested the creation of a unit for business support and capacity development for the industry as well as a trade support unit Mr Ide Udeagbala President Nigerian Association of Chambers of Commerce Industry Mines and Agriculture NACCIMA represented by Mr Ayo Osinloye urged stakeholders to provide answers to the difficult challenges being faced by the private sector They face weak infrastructure especially in terms of power transportation and workspace They lack a collective voice and have relatively weak influence of policy formulation They have poor access to vital resources especially finance Udeagbala said Also speaking Mr Eboagwu Ezulu Deputy Director Financial System Stability Directorate of the Central Bank of Nigeria CBN advised the OPS to approach the development financing institutions for financial assistance I am aware that the Development Bank of Nigeria was established in collaboration with the CBN to provide funding as well as the Bank of Industry established to support the manufacturing sector Have we the manufacturing sector approached those entities to utilise the funds available rather than asking the commercial banks Banks are supposed to approach the CBN on behalf of their customers to solve these problems the commercial banks lend for credit purpose they have the primary responsibility to protect their depositors Ezulu said Dr Ken Opara the CIBN President noted that the organised private sectors were the real drivers of real sector growth and economic advancement through industrialisation job creation provision of goods and services and poverty alleviation Thus a well functioning financial system and a rigorous private sector are important drivers of national growth in terms of Gross Domestic Product employment generation economic stability and poverty reduction However I must admit that there are still a lot of untapped opportunity between these two critical sectors some of which are attributable to lack of proper handshake between the bodies Given the interdependence of both sector it has become imperative for both to work mutually for the growth of the nation s economy Opara said Earlier Mr Rasheed Bolarinwa President ACAMB said that the outlook of the conference was essentially to develop a workable roadmap for the two sectors to synergise for the benefit of the national economy Finance the essence of banking is the driving force for the private sector Capital is probably the primary factor of production On the other side the private sector as the end users of banking services and the largest sector of the economy is also conversely the driver of a sustainable and viral banking sector So I will say there is a symbiotic relationship between the two sectors banking is important to the private sector just as the private sector is important to the banks That explains why this conference is taking place So it is safe to conclude that the more active and synergistic the relationship between banking and private sector the more we are collectively able to develop and grow the national economy for sustainable Nigeria he said NewsSourceCredit NAN
    MAN tasks banks, OPS on economic growth
    Economy2 months ago

    MAN tasks banks, OPS on economic growth

    The Manufacturers Association of Nigeria (MAN) on Wednesday urged commercial banks and the Organised Private Sector (OPS) to join hands to grow the economy.

    Mr Mansur Ahmed, President of MAN, gave the advice at the first National Stakeholders Conference organised by the Association of Corporate Affairs Managers of Banks (ACAMB) in partnership with the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos.

    The News Agency of Nigeria reports that the conference supported by Access Bank, Ecobank, FirstBank and Zenith Bank had: “Promoting Synergy Between the Banking Industry and the Organised Private Sector,’’ as the theme.

    Ahmed said that the performance and development of both sectors were expedient for the sustainability of the economy; hence, the need for both sectors to work together to reduce poverty, attract investment and boost economic growth.

    “The traditional industry-bank lending relationship is no longer supporting the growth of the industry, the bank and the economy, as a whole.

    “ Industry activities have massively declined showing rising number of moribund industries across the country and the increasing capital flight.

    “ Based on this information, it is important that the commercial banks and the industry should come together to chart new ways of supporting each other to the benefit of all.

    “ There is no doubt that the industry needs the bank to increase investment and production while the bank needs the industry for interest payment incomes and equity subscription,’’ he said.

    He, therefore, recommended that the commercial bank should develop corporate patriotism to strengthen the willingness to lend at the interest rate that supports both the industry and the banking sector for the sake of the economy.

    He stressed the need to prioritise attention to industry foreign exchange requests, particularly in this period of acute shortage.

    Ahmed represented by Mr Ambrose Oruche, Director, Corporate Services of MAN, also urged the banks to ensure that government or international development funds were well accessed without undue difficult conditionality.

    He recommended the creation of a process that would support  equipment acquisition in the industry and creation of funds to support industry-bank joint venture for easy financing of specific industry business.

    He also suggested the creation of a unit for business support and capacity development for the industry as well as a trade support unit.

    Mr Ide Udeagbala, President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), represented by Mr Ayo Osinloye, urged stakeholders to provide answers to the difficult challenges being faced by the private sector.

    “They face weak infrastructure, especially in terms of power, transportation, and workspace.

    They lack a collective voice and have relatively weak influence of policy formulation.

    They have poor access to vital resources, especially finance,” Udeagbala said.

    Also speaking, Mr Eboagwu Ezulu, Deputy Director, Financial System Stability Directorate of the Central Bank of Nigeria (CBN), advised the OPS to approach the development financing institutions for financial assistance.

    “I am aware that the Development Bank of Nigeria was established in collaboration with the CBN to provide funding as well as the Bank of Industry established to support the manufacturing sector.

    “Have we the manufacturing sector approached those entities to utilise the funds available rather than asking the commercial banks?

    “Banks are supposed to approach the CBN on behalf of their customers to solve these problems; the commercial banks lend for credit purpose, they have the primary responsibility to protect their depositors,’’ Ezulu said Dr Ken Opara, the CIBN President, noted that the organised private sectors were the real drivers of real sector growth and economic advancement through industrialisation, job creation, provision of goods and services and poverty alleviation.

    “Thus a well-functioning financial system and a rigorous private sector are important drivers of national growth in terms of  Gross Domestic Product, employment generation, economic stability and poverty reduction.

    “However, I must admit that there are still a lot of untapped opportunity between these two critical sectors some of which are attributable to lack of proper handshake between the bodies.

    “Given the interdependence of both sector, it has become imperative for both to work mutually for the growth of the nation’s economy,’’ Opara said.

    Earlier, Mr Rasheed Bolarinwa, President ACAMB, said that the outlook of the conference was essentially to develop a workable roadmap for the two sectors to synergise for the benefit of the national economy.

    “Finance, the essence of banking is the driving force for the private sector.  

    Capital, is probably the primary factor of production.

    “On the other side, the private sector, as the end users of banking services and the largest sector of the economy, is also conversely the driver of a sustainable and viral banking sector.

    “So, I will say there is a symbiotic relationship between the two sectors, banking is important to the private sector, just as the private sector is important to the banks.

    That explains why this conference is taking place.

    “So, it is safe to conclude that the more active and synergistic the relationship between banking and private sector, the more we are collectively able to develop and grow the national economy for sustainable Nigeria,’’ he said.

    (
    NewsSourceCredit: NAN

  •  The Lagos State Government says it is set for the ninth edition of its Climate Change Summit The Commissioner for Environment and Water Resources Mr Tunji Bello stated this at a news conference on Wednesday in Lagos ahead of the summit According to Bello the summit which will take place from Aug 2 to Aug 3 will be action oriented because the government has decided to do things differently Bello said that for the government to achieve a robust summit it co opted the Organised Private Sector OPS from the planning stage to the delivery of the Summit This is in recognition of the impact of the OPS to economic growth in Lagos and our resolve to mainstream climate action in the next phase of the developmental agenda in Lagos state It is also an affirmative action in the support of the role of the private sector in mitigating the effects of climate change Bello said He said that the theme of the 2022 edition of the Summit is Integrating Climate Actions in Lagos State Development Investment Opportunities and Trade offs According to him the theme demonstrates the effect of climate action on the state and how new vistas of opportunities can be developed The commissioner said that the state government inaugurated the Lagos State Climate Action Plan at the eighth edition of the summit in 2021 He said that the projected agenda embedded in that plan was aimed at charting a course towards achieving net zero emissions that is zero carbon emission in Lagos by 2050 He added that the state hope to achieve zero carbon emission through the provision of impact oriented actions across various sectors of the economy What this simply means is that we have to accelerate the development of a green economy in the state by exploring innovative climate solutions and mobilizing various resources required to achieve the target Bello said He said that Governor Babajide Sanwo Olu will be the Special Guest of Honour at the summit The commissioner said that the lead paper titled Financing Transformative Climate Action for Lagos State would be delivered by Prof Chukwumerije Okereke Okereke is the Director of the Center for Climate Change and Development Alex Ekwueme Federal University Ndufu Alike Ebonyi Bello enjoined all stakeholders development partners and investors to join Lagos as partners in progress towards achieving a green and sustainable economic growth in Lagos The commissioner expressed optimism that the summit will create a sustainable environment for future generations The News Agency of Nigeria reports that other dignitaries present at the conference included the Permanent Secretary Office of Drainage Services Lagos state Mr Lekan Shodeinde and the Consultant on Climate Change Prof Babajide Alo Also in attendace was Dr Omobolaji Gaji Permanent Secretary Office of Environmental Services Ministry of Environment www nanews ng NewsSourceCredit NAN
    LASG set for 9th Climate Change Summit
     The Lagos State Government says it is set for the ninth edition of its Climate Change Summit The Commissioner for Environment and Water Resources Mr Tunji Bello stated this at a news conference on Wednesday in Lagos ahead of the summit According to Bello the summit which will take place from Aug 2 to Aug 3 will be action oriented because the government has decided to do things differently Bello said that for the government to achieve a robust summit it co opted the Organised Private Sector OPS from the planning stage to the delivery of the Summit This is in recognition of the impact of the OPS to economic growth in Lagos and our resolve to mainstream climate action in the next phase of the developmental agenda in Lagos state It is also an affirmative action in the support of the role of the private sector in mitigating the effects of climate change Bello said He said that the theme of the 2022 edition of the Summit is Integrating Climate Actions in Lagos State Development Investment Opportunities and Trade offs According to him the theme demonstrates the effect of climate action on the state and how new vistas of opportunities can be developed The commissioner said that the state government inaugurated the Lagos State Climate Action Plan at the eighth edition of the summit in 2021 He said that the projected agenda embedded in that plan was aimed at charting a course towards achieving net zero emissions that is zero carbon emission in Lagos by 2050 He added that the state hope to achieve zero carbon emission through the provision of impact oriented actions across various sectors of the economy What this simply means is that we have to accelerate the development of a green economy in the state by exploring innovative climate solutions and mobilizing various resources required to achieve the target Bello said He said that Governor Babajide Sanwo Olu will be the Special Guest of Honour at the summit The commissioner said that the lead paper titled Financing Transformative Climate Action for Lagos State would be delivered by Prof Chukwumerije Okereke Okereke is the Director of the Center for Climate Change and Development Alex Ekwueme Federal University Ndufu Alike Ebonyi Bello enjoined all stakeholders development partners and investors to join Lagos as partners in progress towards achieving a green and sustainable economic growth in Lagos The commissioner expressed optimism that the summit will create a sustainable environment for future generations The News Agency of Nigeria reports that other dignitaries present at the conference included the Permanent Secretary Office of Drainage Services Lagos state Mr Lekan Shodeinde and the Consultant on Climate Change Prof Babajide Alo Also in attendace was Dr Omobolaji Gaji Permanent Secretary Office of Environmental Services Ministry of Environment www nanews ng NewsSourceCredit NAN
    LASG set for 9th Climate Change Summit
    Environment2 months ago

    LASG set for 9th Climate Change Summit

    The Lagos State Government says it is set for the ninth edition of its Climate Change Summit.

    The Commissioner for Environment and Water Resources, Mr Tunji Bello, stated this at a news conference on Wednesday in Lagos ahead of the summit .

    According to Bello, the summit, which will take place from Aug. 2 to Aug. 3, will be action-oriented because the government has decided to do things differently.

    Bello said that for the government to achieve a robust summit, it co-opted the Organised Private Sector (OPS) from the planning stage to the delivery of the Summit.

    “This is in recognition of the impact of the OPS to economic growth in Lagos and our resolve to mainstream climate action in the next phase of the developmental agenda in Lagos state.

    “It is also an affirmative action in the support of the role of the private sector in mitigating the effects of climate change,” Bello said.

    He said that the theme of the 2022 edition of the Summit is “Integrating Climate Actions in Lagos State Development; Investment Opportunities and Trade-offs”.

    According to him, the theme demonstrates the effect of climate action on the state and how new vistas of opportunities can be developed.

    The commissioner said that the state government inaugurated the Lagos State Climate Action Plan at the eighth edition of the summit in 2021.

    He said that the projected agenda embedded in that plan was aimed at charting a course towards achieving net zero emissions; that is zero carbon emission in Lagos by 2050.

    He added that the state hope to achieve zero carbon emission through the provision of impact oriented actions across various sectors of the economy.

    “What this simply means is that we have to accelerate the development of a green economy in the state by exploring innovative climate solutions and mobilizing various resources required to achieve the target,” Bello said.

    He said that Governor Babajide Sanwo-Olu will be the Special Guest of Honour at the summit.

    The commissioner said that the lead paper, titled “Financing Transformative Climate Action for Lagos State”, would be delivered by Prof. Chukwumerije Okereke.

    Okereke is the Director of the Center for Climate Change and Development, Alex Ekwueme Federal University, Ndufu-Alike, Ebonyi.

    Bello enjoined all stakeholders, development partners and investors to join Lagos as partners in progress towards achieving a green and sustainable economic growth in Lagos.

    The commissioner expressed optimism that the summit will create a sustainable environment for future generations.

    The News Agency of Nigeria reports that other dignitaries present at the conference included the Permanent Secretary, Office of Drainage Services, Lagos state, Mr Lekan Shodeinde and the Consultant on Climate Change, Prof. Babajide Alo. Also in attendace was Dr Omobolaji Gaji, Permanent Secretary, Office of Environmental Services, Ministry of Environment.

    (www.

    nanews.

    ng)

    NewsSourceCredit: NAN

  •  The Association of Corporate Affairs Managers of Banks ACAMB says that constant engagement and communication between the Organised Private Sector OPS and the banking sector will promote the desired sustainable growth and development of the economy Mr Rasheed Bolarinwa President of ACAMB disclosed this in an interview with the News Agency of Nigeria on Sunday in Lagos Bolarinwa said Nigeria would be the major beneficiary of the high profile meeting between banks and the OPS as stakeholders seek to find lasting solutions to the constraints between the two key sectors of the economy He said that the first ever national stakeholders conference on synergy between the Nigerian banking industry and the OPS would hold on Aug 3 2022 Bolarinwa said that the first ever conference would birth far reaching strategies that would help to unlock several opportunities for the Nigerian economy He said that the conference would be organised by the ACAMB the banking industry corporate marketing communications and reputation management association in partnership with other stakeholders including the Chartered Institute of Bankers of Nigeria CIBN Bolarinwa said Nigeria will be the major beneficiary of the high profile meeting between banks and the Organised Private Sector as stakeholders seek to find lasting solutions to the constraints between the two key sectors of the economy He said that the conference which would hold at the Bankers House Victoria Island Lagos would bring together the best players in banks and OPS to act as think tank for the nation s macroeconomic growth Bolarinwa said that the Governor of the Central Bank of Nigeria Mr Godwin Emefiele would be the keynote speaker He added that the Presidents of the Chartered Institute of Bankers of Nigeria CIBN NACCIMA Institute of Directors IoD and Manufacturers Association of Nigeria MAN would be major speakers He said that the strategic panelists would be led by the leadership of the sectors which would cut across banking players and the OPS including NECA NASSI and NASME among others He also said that the main plenary session would be moderated by the foremost economist Dr Biodun Adedipe We are providing an open minded platform for both sectors to articulate and ventilate their fears interest and expectations and opportunities that will benefit both sectors the national economy and Nigeria at large At the end of the session we expect a robust communique that will provide a road map for a new relationship between the banking industry and the OPS Bolarinwa said According to him the OPS is a valued stakeholder of the banking industry as both the banking industry and the organised private sector play major roles in growing the economy Therefore there is a need for the two sectors to work closely together The conference offers a unique platform for private sector players and the banking community to share perspectives on the synergy communication cooperation and mutual understanding between these two critical segments of the Nigerian economy can be improved to benefit the Nigerian people and economy progressively ACAMB is reaching out to all critical stakeholders to ensure inclusiveness and maximisation of capacity We will persist in generating innovative and creative initiatives to promote the growth and development of the banking industry and the national economy Bolarinwa said He urged the media to partner in the new paradigm shift of engagements with critical stakeholders in the industry describing the media as being crucial to creating mutual understandings NewsSourceCredit NAN
    Banks, OPS synergy key to sustainable growth, says ACAMB President
     The Association of Corporate Affairs Managers of Banks ACAMB says that constant engagement and communication between the Organised Private Sector OPS and the banking sector will promote the desired sustainable growth and development of the economy Mr Rasheed Bolarinwa President of ACAMB disclosed this in an interview with the News Agency of Nigeria on Sunday in Lagos Bolarinwa said Nigeria would be the major beneficiary of the high profile meeting between banks and the OPS as stakeholders seek to find lasting solutions to the constraints between the two key sectors of the economy He said that the first ever national stakeholders conference on synergy between the Nigerian banking industry and the OPS would hold on Aug 3 2022 Bolarinwa said that the first ever conference would birth far reaching strategies that would help to unlock several opportunities for the Nigerian economy He said that the conference would be organised by the ACAMB the banking industry corporate marketing communications and reputation management association in partnership with other stakeholders including the Chartered Institute of Bankers of Nigeria CIBN Bolarinwa said Nigeria will be the major beneficiary of the high profile meeting between banks and the Organised Private Sector as stakeholders seek to find lasting solutions to the constraints between the two key sectors of the economy He said that the conference which would hold at the Bankers House Victoria Island Lagos would bring together the best players in banks and OPS to act as think tank for the nation s macroeconomic growth Bolarinwa said that the Governor of the Central Bank of Nigeria Mr Godwin Emefiele would be the keynote speaker He added that the Presidents of the Chartered Institute of Bankers of Nigeria CIBN NACCIMA Institute of Directors IoD and Manufacturers Association of Nigeria MAN would be major speakers He said that the strategic panelists would be led by the leadership of the sectors which would cut across banking players and the OPS including NECA NASSI and NASME among others He also said that the main plenary session would be moderated by the foremost economist Dr Biodun Adedipe We are providing an open minded platform for both sectors to articulate and ventilate their fears interest and expectations and opportunities that will benefit both sectors the national economy and Nigeria at large At the end of the session we expect a robust communique that will provide a road map for a new relationship between the banking industry and the OPS Bolarinwa said According to him the OPS is a valued stakeholder of the banking industry as both the banking industry and the organised private sector play major roles in growing the economy Therefore there is a need for the two sectors to work closely together The conference offers a unique platform for private sector players and the banking community to share perspectives on the synergy communication cooperation and mutual understanding between these two critical segments of the Nigerian economy can be improved to benefit the Nigerian people and economy progressively ACAMB is reaching out to all critical stakeholders to ensure inclusiveness and maximisation of capacity We will persist in generating innovative and creative initiatives to promote the growth and development of the banking industry and the national economy Bolarinwa said He urged the media to partner in the new paradigm shift of engagements with critical stakeholders in the industry describing the media as being crucial to creating mutual understandings NewsSourceCredit NAN
    Banks, OPS synergy key to sustainable growth, says ACAMB President
    Economy2 months ago

    Banks, OPS synergy key to sustainable growth, says ACAMB President

    The Association of Corporate Affairs Managers of Banks (ACAMB) says that constant engagement and communication between the Organised Private Sector (OPS) and the banking sector will promote the desired sustainable growth and development of the economy.

    Mr Rasheed Bolarinwa, President of ACAMB, disclosed this in an interview with the News Agency of Nigeria on Sunday in Lagos.

    Bolarinwa said Nigeria would be the major beneficiary of the high-profile meeting between banks and the OPS as stakeholders seek to find lasting solutions to the constraints between the two key sectors of the economy.

    He said that the first-ever national stakeholders conference on synergy between the Nigerian banking industry and the OPS would hold on Aug.

    3, 2022.

    Bolarinwa said that the first-ever conference would birth far-reaching strategies that would help to unlock several opportunities for the Nigerian economy.

    He said that the conference would be organised by the ACAMB – the banking industry corporate, marketing communications and reputation management association; in partnership with other stakeholders including the Chartered Institute of Bankers of Nigeria (CIBN).

    Bolarinwa said: “Nigeria will be the major beneficiary of the high-profile meeting between banks and the Organised Private Sector, as stakeholders seek to find lasting solutions to the constraints between the two key sectors of the economy.” He said that the conference which would hold at the Bankers House, Victoria Island, Lagos, would bring together the best players in banks and OPS to act as think tank for the nation’s macroeconomic growth.

    Bolarinwa said that the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, would be the keynote speaker.

    He added that the Presidents of the Chartered Institute of Bankers of Nigeria (CIBN), NACCIMA, Institute of Directors (IoD) and Manufacturers Association of Nigeria (MAN) would be major speakers.

    He said that the strategic panelists would be led by the leadership of the sectors, which would cut across banking players and the OPS including NECA, NASSI and NASME, among others.

    He also said that the main plenary session would be moderated by the foremost economist, Dr Biodun Adedipe.

    “We are providing an open-minded platform for both sectors to articulate and ventilate their fears, interest and expectations and opportunities that will benefit both sectors, the national economy and Nigeria at large.

    “At the end of the session, we expect a robust communique that will provide a road map for a new relationship between the banking industry and the OPS,” Bolarinwa said.

    According to him, the OPS is a valued stakeholder of the banking industry as both the banking industry and the organised private sector play major roles in growing the economy.

    “Therefore, there is a need for the two sectors to work closely together.

    “The conference offers a unique platform for private sector players and the banking community to share perspectives on the synergy, communication, cooperation and mutual understanding between these two critical segments of the Nigerian economy can be improved to benefit the Nigerian people and economy progressively.

    “ACAMB is reaching out to all critical stakeholders to ensure inclusiveness and maximisation of capacity.

    “We will persist in generating innovative and creative initiatives to promote the growth and development of the banking industry and the national economy,” Bolarinwa said.

    He urged the media to partner in the new paradigm shift of engagements with critical stakeholders in the industry, describing the media as being crucial to creating mutual understandings.

    NewsSourceCredit: NAN

  •   Gabriel Othong the returning officer of the Idemili South local government area said that 41 results sheets out of 42 results sheets for 89 polling stations were taken away Mr Othong who is from Calabar University in Cross River made the disclosure while submitting the results for the region The returning officer alleged that the results sheets for the affected sectors had been taken away by the returning officer OPS stationed in the sector According to him there were no elections in Oba 1 wards 11 Oba wards and Akukwu wards all located in the Idemili South Anambra local government area One of the FS took 41 results sheets out of the 42 results sheets intended for the 89 polling stations in the districts concerned More than 40 000 voters were unable to vote in the affected areas due to development he said The returning officer said some of the polling units had failed to secure the deployment of election officers due to cases of gunfire Ebere Obiakor agent for the All Progressives Congress APC said there had been elections in those places but the results had not been collated But Alex Obiogbolu the People s Democratic Party PDP collation agent countered the APC agent s stance saying there had been no elections in any of the affected locations Victor Umeh of the All Progressives Grand Alliance APGA corroborated Mr Obiogbolu by insisting that there were no elections in this region Meanwhile the top three party results published for Idemili Sud were APC 1 036 APGA 2 312 and PDP 2 016 The Idemili Sud local government area has a total of 112 652 of which only 6 622 voters have been accredited NOPE
    Anambra polls: Election supervisor carts away 41 result sheets in Idemili South LGA
      Gabriel Othong the returning officer of the Idemili South local government area said that 41 results sheets out of 42 results sheets for 89 polling stations were taken away Mr Othong who is from Calabar University in Cross River made the disclosure while submitting the results for the region The returning officer alleged that the results sheets for the affected sectors had been taken away by the returning officer OPS stationed in the sector According to him there were no elections in Oba 1 wards 11 Oba wards and Akukwu wards all located in the Idemili South Anambra local government area One of the FS took 41 results sheets out of the 42 results sheets intended for the 89 polling stations in the districts concerned More than 40 000 voters were unable to vote in the affected areas due to development he said The returning officer said some of the polling units had failed to secure the deployment of election officers due to cases of gunfire Ebere Obiakor agent for the All Progressives Congress APC said there had been elections in those places but the results had not been collated But Alex Obiogbolu the People s Democratic Party PDP collation agent countered the APC agent s stance saying there had been no elections in any of the affected locations Victor Umeh of the All Progressives Grand Alliance APGA corroborated Mr Obiogbolu by insisting that there were no elections in this region Meanwhile the top three party results published for Idemili Sud were APC 1 036 APGA 2 312 and PDP 2 016 The Idemili Sud local government area has a total of 112 652 of which only 6 622 voters have been accredited NOPE
    Anambra polls: Election supervisor carts away 41 result sheets in Idemili South LGA
    Headlines11 months ago

    Anambra polls: Election supervisor carts away 41 result sheets in Idemili South LGA

    Gabriel Othong, the returning officer of the Idemili South local government area, said that 41 results sheets out of 42 results sheets for 89 polling stations were taken away.

    Mr. Othong, who is from Calabar University in Cross River, made the disclosure while submitting the results for the region.

    The returning officer alleged that the results sheets for the affected sectors had been taken away by the returning officer, OPS, stationed in the sector.

    According to him, there were no elections in Oba 1 wards, 11 Oba wards and Akukwu wards, all located in the Idemili South Anambra local government area.

    “One of the FS took 41 results sheets out of the 42 results sheets intended for the 89 polling stations in the districts concerned.

    "More than 40,000 voters were unable to vote in the affected areas due to development," he said.

    The returning officer said some of the polling units had failed to secure the deployment of election officers due to cases of gunfire.

    Ebere Obiakor, agent for the All Progressives Congress, APC, said there had been elections in those places but the results had not been collated.

    But Alex Obiogbolu, the People's Democratic Party, PDP collation agent, countered the APC agent's stance, saying there had been no elections in any of the affected locations.

    Victor Umeh of the All Progressives Grand Alliance, APGA, corroborated Mr. Obiogbolu by insisting that there were no elections in this region.

    Meanwhile, the top three party results published for Idemili Sud were APC-1,036, APGA-2,312 and PDP-2,016.

    The Idemili Sud local government area has a total of 112,652 of which only 6,622 voters have been accredited.

    NOPE

  •   By Emmanuella Anokam The Abuja Chamber of Commerce and Industry ACCI urged the federal government to ensure that its nationwide agro industrial zone initiative be led by the organized private sector OPS ACCI President Dr Abubakar Al Mujtaba made the appeal in a statement Thursday in Abuja Al Mujtaba said agro industrial zones should be PAHO s turf while the government should provide the right framework support and environment for the project to thrive Al Mujtaba described the political action as a timely response to the push to diversify the economy to fill the dwindling fortunes of the oil sector and meet the challenges of the African continental free trade area We are excited about the planned project coverage which confirms the seriousness of federal and state governments in responding to the agricultural value urgency to increase export revenues and be competitive locally and internationally The expected massive production will compensate for the late action aimed at improving the national capacity for agricultural exports The OPS has the skills and experience to turn the government s dream of a diverse economy into reality with maximum efficiency The private sector has the qualities of less waste a transparent business model and value for money he said He added that the project would also capitalize on the industry s proven track record in the processing sub sector while leveraging the extensive capacity of the private sector to drive such a business model He particularly congratulated the ministers of agriculture as well as those of industry trade and investment for their collaboration and foresight He hoped that full integration of the private sector into the design and implementation process would make a huge difference in achieving the project objectives and program NOPE NAN
    ACCI entrusts the private sector with piloting the agro-industrial zones
      By Emmanuella Anokam The Abuja Chamber of Commerce and Industry ACCI urged the federal government to ensure that its nationwide agro industrial zone initiative be led by the organized private sector OPS ACCI President Dr Abubakar Al Mujtaba made the appeal in a statement Thursday in Abuja Al Mujtaba said agro industrial zones should be PAHO s turf while the government should provide the right framework support and environment for the project to thrive Al Mujtaba described the political action as a timely response to the push to diversify the economy to fill the dwindling fortunes of the oil sector and meet the challenges of the African continental free trade area We are excited about the planned project coverage which confirms the seriousness of federal and state governments in responding to the agricultural value urgency to increase export revenues and be competitive locally and internationally The expected massive production will compensate for the late action aimed at improving the national capacity for agricultural exports The OPS has the skills and experience to turn the government s dream of a diverse economy into reality with maximum efficiency The private sector has the qualities of less waste a transparent business model and value for money he said He added that the project would also capitalize on the industry s proven track record in the processing sub sector while leveraging the extensive capacity of the private sector to drive such a business model He particularly congratulated the ministers of agriculture as well as those of industry trade and investment for their collaboration and foresight He hoped that full integration of the private sector into the design and implementation process would make a huge difference in achieving the project objectives and program NOPE NAN
    ACCI entrusts the private sector with piloting the agro-industrial zones
    Business1 year ago

    ACCI entrusts the private sector with piloting the agro-industrial zones

    By Emmanuella Anokam

    The Abuja Chamber of Commerce and Industry (ACCI) urged the federal government to ensure that its nationwide agro-industrial zone initiative be led by the organized private sector (OPS).

    ACCI President Dr Abubakar Al-Mujtaba made the appeal in a statement Thursday in Abuja.

    Al-Mujtaba said agro-industrial zones should be PAHO's turf while the government should provide the right framework, support and environment for the project to thrive.

    Al-Mujtaba described the political action as a timely response to the push to diversify the economy to fill the dwindling fortunes of the oil sector and meet the challenges of the African continental free trade area.

    “We are excited about the planned project coverage which confirms the seriousness of federal and state governments in responding to the agricultural value urgency to increase export revenues and be competitive locally and internationally.

    “The expected massive production will compensate for the late action aimed at improving the national capacity for agricultural exports.

    “The OPS has the skills and experience to turn the government's dream of a diverse economy into reality with maximum efficiency.

    “The private sector has the qualities of less waste, a transparent business model and value for money,” he said.

    He added that the project would also capitalize on the industry's proven track record in the processing sub-sector, while leveraging the extensive capacity of the private sector to drive such a business model.

    He particularly congratulated the ministers of agriculture as well as those of industry, trade and investment for their collaboration and foresight.

    He hoped that full integration of the private sector into the design and implementation process would make a huge difference in achieving the project objectives and program. (NOPE)

    (NAN)