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  • Artificial Intelligence: What teachers and students need to know

    Artificial Intelligence: What teachers and students need to know

    By Ganiu Bamgbose

    Artificial intelligence does not come with the options of “to be” or “not to be” in academia. If nothing, the intelligence that is included in the term makes it “a child of necessity” to intellectuals. To say artificial intelligence is not welcome for scholarly activities is like a farmer saying a tractor is not welcome on his farmland. Matter-of-factly, to question or dispute the relevance and deployment of artificial intelligence in research works by either established or budding scholars will, in my opinion, be barbaric.

    Britannica defines artificial intelligence as a term “frequently applied to the project of developing systems endowed with the intellectual processes characteristic of humans, such as the ability to reason, discover meaning, generalize, or learn from past experience”. It is the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings. Artificial intelligence combines the intellectual knowledge of different fields such as computer science, physiology, and philosophy.  There are several approaches to this interdisciplinary science of artificial intelligence. To solve real-life problems, scientists and researchers apply distinct methods to this advanced technology and improve computer machine functionality.

    In their book titled “Artificial Intelligence: A Modern Approach”, Norvig and Russell mention four different artificial intelligence approaches: Thinking humanly – mimicking thought based on the human mind; Thinking rationally – mimicking thought based on logical reasoning; Acting humanly – acting in a manner that mimics human behaviour; Acting rationally – acting in a manner that is meant to achieve a particular goal.

    What comes next to mind with the recent debates on the use of artificial intelligence in academic tasks is the question: is artificial intelligence any recent? With the advent of google in 1998, we can say confidently that artificial intelligence has been with us formidably since over two decades. It is indisputable that artificial intelligence has been instrumental in the ease of research for academics and students alike. Only a scholar who still subscribes to traditional pedagogy would question the relevance of artificial intelligence. Traditional pedagogy primarily relies on lecturer-centred instruction, where an expert imparts knowledge to passive learners. This method is based on the authoritative knowledge of the teacher and textbooks with disregard for interactivity, collaborative effort and technological affordance. A scholar in the 21st century should not hold tightly onto traditional pedagogy.

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    So, if artificial intelligence has come to stay and is evidently of advantage to academia, the next concern is whether it comes with challenges or not. Most definitely, it does. Several, in fact.

    Phenomena are hardly static. They grow or decline. The rapid growth of artificial intelligence has become a big threat to human intelligence. Human intelligence has been explained as a collection of common mental traits such as creativity, perception, and memory. Artificial intelligence is not capable of human ingenuity. Human ingenuity is the way in which human minds have influenced how we think, work, play, construct and conduct friendships and other relationships, interact with each other, find solutions to problems, cause problems, transform things and rationalize thought. While artificial intelligence serves as a veritable tool in the hands of a researcher, a budding scholar or a student, it cannot take the place of human intelligence which involves practical assessment of real-life situation and discernment. 

    To properly narrow this to the academic environment, the advent of certain kinds of artificial intelligence such as ChatGPT (Chat Generative Pre-trained Transformer) is resulting in diminishing return for human intelligence. There is the preponderance of knowledge seekers yet a dwindling number of knowledgeable people. 

    Wikipedia explains ChatGPT as a chatbot developed by OpenAI and launched on November 30, 2022. Based on a large language model, it enables users to refine and steer a conversation towards a desired length, format, style, level of detail, and language. If you seek a five page document on any topic or subject on ChatGPT, you certainly will get it almost immediately.

    This tool has become the succour of lazy students in recent times.  They deploy it as a complete replacement for their own intellectual input rather than being a useful guide or insight into their research interest. You have to be sensitive as a lecturer or supervisor to detect this complete plagiarism and not to even applaud your fraudulent students.

    One of the simple ways to detect this intellectual fraud is that the ChatGPT does not reference existing works on the subject matter, and if it does, it does not reference locally relevant studies and authorities, and cannot appropriately contextualise a study. You therefore must read carefully for traces of appropriate contextualisation to detect the complete use of ChatGPT or otherwise. But again, is the use of ChatGPT and other forms of artificial intelligence wrong? Of course no! Times have offered them to us and we have to utilise them, but not as a replacement for human intelligence and input.

    For researchers, budding scholars and even students, seeking general or background knowledge on any topic through these platforms is not against academic ethics, but this must not replace human ingenuity, proper domestication of knowledge, and application of insights to one’s peculiar situation. 

    In conclusion, artificial intelligence has come to stay and nobody’s validation is needed on this reality. However, artificial intelligence cannot, at least for now, serve as a replacement for human intelligence and ingenuity. Therefore, it is a gift for us to use, but not to abuse. 

    • Bamgbose, PhD, writes from the Department of English, Lagos State University.

  • Illegal miners as banditry sponsors

    Illegal miners as banditry sponsors

    It will be a fatal risk to ignore the new dimension to the festering insecurity exposed by the Minister of Solid Minerals Development, Dele Alake. Not that banditry and terrorism sponsorship is entirely new to this country. It is perhaps, the first time a key official of the federal government would come out very strongly and clearly on the reasons for the festering banditry and terrorism especially as they relate to the mining sector. But the phenomenon is not just limited to the mining sector.

    So, the disclosure may as well serve as a benchmark for understanding the nature and character of the multifarious security infractions that have reduced the country to a verity of the state of nature in the last couple of years. This may open our eyes as to why banditry and terrorism have refused to abate despite the efforts of the government to restore law and order in areas they are most prevalent.

    During his 2024 budget defence at the House of Representatives Committee on Solid Minerals, the minister fingered powerful Nigerians involved in illegal mining for responsibility for other criminal activities and involvement in sponsoring banditry and terrorism.

    “One discovery we have made is that a lot of these insecurities, especially banditry associated with this sector are sponsored by illegal miners. These are not your artisanal miners. They are not the people who pick gold on the ground. These are heavy and powerful individuals in our country. They are Nigerians and not foreigners” he told his audience.

    The issues raised here are as weighty as they are troubling. They indicate very sadly that the menace of banditry and terrorism are not mere happenstances. They are largely contrived and sponsored by men of means for some self-serving economic, religious or political motives. Little surprising that concerted efforts to stem the tide have often proved herculean as the same elite mount sundry obstacles to sabotage the process.

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    The way the minister spoke, there is everything to expect that the government has some idea of who these powerful unpatriotic Nigerians are and the incalculable damage their self-serving activity does to the national economy.

    The suspicion that some powerful individuals must be behind the unceasing insecurity that has stretched the powers of our security agencies to elastic limits has always been there. But the government has not been forthcoming in identifying and unmasking the masterminds. As a matter of fact, the body language of the last administration despite its trumpeted commitment to the war against terrorism had given cause for suspicion regarding its sincerity in the prosecution of that war.

    In 2021, the United Arab Emirate (UAE) named six Nigerians among other nationals as terrorism sponsors. The United States of America, (USA) followed it up by placing the six of them on its terror list for providing financial, material or technological services and support to Boko Haram.

    It is not clear till date what the federal government made of this vital information provided by the UAE. Neither is there evidence of the trial and possible conviction of the suspected terrorism sponsors. The much we got was an evasive statement from the media aide to President Buhari, Femi Adesina that Nigeria was not interested in naming and shaming terrorism sponsors but in ensuring that suspects are brought to book.

    At another occasion, the government through the then minister of information, Lai Mohammed said the Nigerian Financial Intelligence Unit (NFIU) uncovered 96 financiers of Boko Haram and ISWAP. The unit was credited to have unmasked 424 associates/supporters of the financiers, about 123 companies and 33 Bureau de Change linked with terrorism. But not much has thereafter been heard about the prosecution and possible punishment for these suspects.

     So, it was nothing strange when Alake said some powerful Nigerians are behind the sponsorship of terrorism and banditry in the mining sector. The difference lies in the motive which is to deprive the federal government of the financial revenue which full exploitation of the sector holds for the welfare of the toiling citizens.

    Banditry and terrorism in the mining sector are largely economic. The objective is to keep the mining areas lawless so as to allow the illegal business to go on unhindered. That is the objective and powerful Nigerians profiting from the illegal business will not let go.

    It is now getting clearer the uncommon interest shown by some of the elite each time there is a sustained push to smoke out all manner of bandits and terrorists from these shores. It can now be understood why insinuations of mundane colorations are quickly bandied each time there is a miscalculation from the security forces while engaging the bandits and terrorists.

    The so-called powerful Nigerians will be the very first set of people to give weird meaning and interpretation to any sustained onslaughts against the activities of the sponsored criminal elements. We saw how ethnic, religious and political opportunists cashed in on the mistakes of the army in the Tudun Biri incident to stoke embers of discord.

    But there are other dimensions and motivations for terrorism and banditry. At the budding stages of the Boko Haram insurgency, allegations of connivance and sponsorship featured very prominently. The relative ease with which secondary school children were ferried away; disappearing into the thin air in the northeast had left  with it feelings that there was more to it.

    Then also, the efforts of the federal government to confront the monster had lent itself to misinterpretation by some northern elite. No less a person than the then governor of Adamawa State Muritala Nyako bandied vile and damaging allegations of an agenda to depopulate the north. The allegations were so acerbic and discouraging that they placed serious constraints on the war against Boko Haram.

    Had the terrorists been pursued with the vigour their activities demanded at that time, perhaps, we would have put that issue behind us today. Unfortunately, it appears no lesson has been learnt from that incident as the same old tactics is again being traded by the same vested interests in the miscalculated and unfortunate killings in Kaduna State.

    It would seem the Nigerian military command is not unaware of the constraints in its operations imposed by these unguarded insinuations and contrived conspiracy theories. It has despite the challenges, reaffirmed its commitment to remain focused in the fight to rid the country of insecurity.

    That is the way to approximate recent promise by President Tinubu that he will not lose the battle against the bandits and terrorists. We cannot afford to lose the war against insecurity. But the president should back it up with the political will to address the cascading insecurity according to the peculiarities they present.

    Banditry and terrorism sponsorship is not an exclusive preserve of illegal miners. The sponsors of banditry in Zamfara, Katsina and Kaduna states and elsewhere have different motivations. While some are engaged in kidnapping for ransom, others are involved in cattle rustling and stealing. Yet, some others have interest in establishing their own form of government over the people in their areas, imposing taxes and securing allegiance.

    Before now, the motivation and interests of these bandits as well as their mode of operation had raised questions as to who they really are. Are they terrorists professing some weird religious ideology, herdsmen, rogues or bush guerrilla?

    In his interaction with former Governor Matatalle of Zamfara state after his visits to the forests, fiery Islamic preacher, Ahmad Gumi had said, “In most of the bandits’ and Fulani camps we have visited, I came to understand that what is happening in the state is nothing but insurgency”.

     Buoyed by this, he asked the federal government to enter into negotiations with the bandits and the Fulani and reintegrate them the same way the Niger Delta was settled.

    But one of the bandits’ leaders, Kachalla Turji was reported to have said only reconciliation can stop the killings while accusing the Zamfara people of impoverishing and beating the Fulani on the road. Another complained of constant attack by the military and cattle rustling which denies them their legitimate means of livelihood.

    What seemed to have emerged from this is the difficulty in differentiating between the interests of bandits and that of the herdsmen. It is vital that the military understands the complications imposed by this link in the prosecution of the current war.

  • Government and citizens’ neglect of road safety

    Government and citizens’ neglect of road safety

    By Jide Owatunmise

    SIR: Few days ago, over 80 people in Tudun Biri area of Kaduna were accidentally killed by military bombing. The military apologised and commiserated with the families of the bereaved.

    The president, vice president, ministers, legislators, judges, private sector organisations and Civil Society Organisations (CSOs) have lent their voices against the incident.

    Some senators have contributed a large sum of money for the bereaved families and the treatment of those injured.  The hospitals where those injured are being treated have been besieged by many very important personalities to commiserate with the victims.

    Within the past month, over 1,000 innocent Nigerians have been killed on the road while over 5,000 have sustained various degrees of injuries. The Katsina truck crash claimed 17 lives. The Katsina – Kano crash claimed 35 lives. The Kaduna – Abuja crash claimed 16 lives. The Lagos – Ibadan crash claimed 10 lives while the Ilorin – Ogbomoso crash claimed 25 lives among several others with higher rates of injuries, all within one month. 

    Sadly, there was no word from the presidency, national assembly, judiciary, private sector organisations, CSOs and other VIPs. Are the Nigerians that died in the bomb blast through Boko Haram and Insurgency more valuable than those who died on the roads through crashes not due to their faults?

    Have we gotten so familiar with deaths and injuries by road accidents that we don’t regard such wasted and injured as fellow Nigerians?

    The statistics released this year by the Federal Road Safety Commission (FRSC) and World Health Organisation (WHO) revealed that over 43,000 Nigerians, men and women, young and old were killed while a far higher number suffered various degrees of injuries on Nigeria roads. These figures surpassed the number of people killed by Boko Haram, insurgency, banditry and accidental military discharge which have been receiving the open attention of the presidency, National Assembly and other VIPs with significant budgetary allocations annually. 

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    Road safety has not been receiving the right attention by the governments at the federal, state and local government levels. Most VIPs prefer to obtain Driver Licence for themselves, their family members and others around them without going through the mandatory theory and practical training programmes in standard accredited driving schools.

    Many public and private sector organisations do not engage accredited driving schools to conduct testing, assessment and training for the drivers in their employment as instructed in the National Road Traffic Regulations 2012 and 2016 amendments. Virtually all employers of drivers believe they are doing their drivers favour by sending them for testing and refresher training in accredited driving schools according to the law. This is an error. An employer or officer who regularly retrains and motivates his driver is doing not only the drivers but more importantly himself favour.  Driving, traffic regulations and several other human, mechanical and environmental factors are dynamic thereby necessitating the regular updating of the knowledge, skills, and attitudes of the drivers for safer road use. A little error committed by a driver can result to the maiming or loss of the lives of the VIP he is driving.

    Virtually all classes of Nigerians don’t want to obey traffic rules. Many of the VIPs who are expected to be re models violate the traffic laws with impunity. Enforcement is weak and full scale deployment of technology for apprehending traffic offenders is still a mirage in Nigeria. The 2023 Global Status Report on Road Safety was released on Wednesday, December 13, showing improvement in some countries but Nigeria is nowhere near the progressing countries.

    Yet the government is not paying attention. The United Nations through the World Health Organisation has warned of more devastating effects if the government failed to take more proactive actions.

    Nigerian government is a signatory to five International Conventions on Road Safety, Africa Road Safety Charter and Nigeria Road Safety Strategy (2021 – 2030). It is therefore disheartening that the presidency and the governors are not making any executive declaration backed up with subsequent proactive actions the way they do on insurgency, banditry, kidnapping and recently, the Kaduna bombing.

    Those killed on the roads are customers of many micro, small, medium and large scale organisations. The loss of a life on the road has chains of consequences on governments, businesses and several others. Road safety therefore is a joint responsibility and much be given the appropriate attention by all the arms of governments, private sector organisations, Non – Governmental Organisations/ Civil Society Organisations and all to ensure the accomplishment and sustenance of the UN Decade of Action on Road Safety (2021 – 2030).

    • Jide Owatunmise, roadsafetytrainers@yahoo.com 

  • Tinubu should appoint next minister from Plateau Central

    Tinubu should appoint next minister from Plateau Central

    Former House of Representatives member, Alphonsus Komsol (APC-Plateau Shendam, Quaan-Pan, Mikang Constituency), has urged President Bola Tinubu to appoint a new minister from the Plateau Central Senatorial one in the spirit of equity.

    The All Progressives Congress (APC) chieftain made the call in an open letter to the President. He said his suggestion was informed by the urgent need for the President to address diverse issues in Plateau that border on inclusiveness, geopolitics, ethnic balance, equity and fairness.

    Komsol, who was the Secretary, Presidential Campaign Council’s (PCC) Contact and Mobilisation Committee, North-Central Zone; Plateau Coordinator, Independent Campaign Council for Asiwaju and Member, APC’s Election Planning and Strategic Committee, said such a decision would determine APC’s success in Plateau.

    He said: “Your Excellency, I would like to suggest in all honesty and with all sincerity of purpose and intention, that you should do everything possible to ensure that you appoint next minister from the Plateau Central Senatorial Zone. 

    “The reason for my selfless suggestion is not far-fetched: It is noteworthy that Simon Lalong is from Plateau South Senatorial Zone, which has produced six ministers since 1999, namely Pauline Tallen (twice), Fidelis Tapgun and his sister, Josephine Tapgun, Solomon Dalung and, lately, Lalong.

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    “However, Plateau Central Senatorial Zone has produced just 1 minister (Bagudu Hirse) since 1999. Paradoxically, this is a zone that usually returns some of the highest votes for the APC in virtually all elections since the formation of our party about 10 years ago!”

    The former lawmaker noted that the marginalized Central Zone has some of the major financiers and biggest founding fathers of the APC, who are also the President’s die-hard political supporters and best hands, who the ministerial cap perfectly fits. 

    He noted that, like Plateau South, Plateau North has produced 5 ministers since 1999: Damishi Sango, Mark Aku, Musa Izam, Dasuki Nakande and Sarah Ochekpe, who were picked from different ethnic groups within the senatorial zone.

    “Your Excellency, I write to you with a deep sense of both passion and compassion, driven by pure patriotism, with a good intent for our great party, the All Progressives Congress (APC), your government, Plateau State and Nigeria at large.

    “This is especially against the backdrop of your glaring strong will in governance, which has so far in record time, engendered notable reforms across all sectors, including infrastructure and human resource development.

    “To this end, Mr President, I emphatically and unequivocally implore you to please kindly do the needful, do your utmost and do justice to the raging controversy over the next ministerial slot for Plateau State by giving it to Plateau Central Senatorial Zone.”

    The former lawmaker added that giving the next Plateau ministerial slot to the marginalized central zone would go a long way to strengthen the party and avoid any likely political implosion that could arise, if it is done otherwise.

    He lauded President Tinubu for having an ingenuous way of identifying his die-hard political loyalists and rewarding them, as well as having an uncanny ability to mobilise the best minds and strengthen alliances across the country for the common good. 

    “You will agree with me that being the President of a country like Nigeria takes a lot of courage and gut, which you must display by listening to the voice of the people. 

    “How you deal with diverse issues that border on geopolitics, ethnic balance, equity, and fairness, by carrying everyone along, will determine how far you, our party and your government can succeed, going forward,” the APC chieftain added.

    It would be recalled that the Court of Appeal in a controversial judgment recently declared Lalong winner of Plateau South Senatorial Zone, culminating in his resignation last Wednesday to go to the Senate.

    However, it was gathered that the former governor had, prior to his resignation, submitted the names of two of his kinsmen from Shendam for one of them to be appointed as a minister to replace him.

    Lalong’s decision had stirred the hornets nest, triggered a tidal wave of resistance and made him to lock horns with Plateau APC stakeholders like his political protégé, Rep Yusuf Gagdi from the central zone, among others.

  • NPF MfB gets DBN’s Annual Service Ambassador Award

    NPF MfB gets DBN’s Annual Service Ambassador Award

    NPF Microfinance Bank Plc has been recognised by the Development Bank of Nigeria (DBN) as the microfinance bank with the highest impact in the North-West.

    NPF MfB got the DBN Annual Service Ambassador Award as the MfB with the highest loan disbursement in the North-West.

    NPF MfB was honoured for its impact in the Micro Small and Medium Enterprises (MSMEs) space through credit expansion, credit guarantee and technical support to the businesses.

    The awards, recently held at Civic Centre, Victoria Island, Lagos, was the third in a series organised by the DBN for its partners, including Deposit Money Banks (DMBs) and Participating Financial Institutions (PFIs).

    Managing Director/CEO NPF Microfinance Bank Plc, Mr. Akinwunmi Lawal, said the bank is living its vision of value and wealth creation for its stakeholders through the sustainable provision of financial products and services.

    He said the win is an indication that the market is taking note of the efficiency, resourcefulness and commitment that NPF Microfinance Bank Plc brings to its customers.

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    Lawal said the bank will continue to provide tech-driven quality services that are innovative and supportive to clients’ businesses.

    Managing Director/CEO, DBN, Tony Okpanachi, said NPF MfB’s commitment to forging a lasting impact on MSMEs through collaboration is a testament to its dedication to fueling sustainable economic growth.

    “The true essence of the DBN Awards shines through—a celebration of sustainable triumph, where today’s aspirations evolve into tomorrow’s achievements. The occasion unfolded as a day of jubilation, marked by celebration, partnership, and resounding applause,” he said.

    The DBN Ambassadors Programme was designed to increase the sense of ownership among participating financial institutions, build capacity, increase on-lending to Micro, Small and Medium-scale Enterprises (MSMEs) and, ultimately, deepen financial inclusion in Nigeria.

    Other awards won by NPF MfB Plc  included the Nigeria Investor Value Awards (NIVA) organised by Business Day and NGX; Best Performing Stock (Financial Services: Microfinance Banks) (2022); Award of Honour presented to the Managing Director, Mr. Akinwunmi Lawal in recognition  of his contribution and  support to the growth and development  of the Southwest Zone of National Association of Microfinance Banks (NAMB).

    It was presented by Mrs. Adebimpe Esther Ogunleye, the Chairman, Southwest Zone 2020-2022 National Association of Microfinance Banks; the Chartered Institute of Bankers of Nigeria, 2022 Branch Merit Award presented to NPF Microfinance Bank as the 1stRunner Up, Most Supportive Microfinance Bank 2022, among others.

    NPF Microfinance Bank Plc will continue to strive to make life better for all, its management said.

  • What youths stand to gain from Culturati Festival, by Lagos govt

    What youths stand to gain from Culturati Festival, by Lagos govt

    Culturati Festival, Africa’s  largest cultural fusion event, is a way of  connecting the root,  engaging the youths and giving back to the community, Special Adviser to Lagos State Governor on Torusim, Arts and Culture, Idris Aregbe has  said.

    Aregbe, the initiator of the festival, spoke during the second day of the cultural fusion event at the SOL Beach Victoria Island Lagos.

     He said: “If you look around tonight, you will see lots of youths, showcasing their talents in dance, wrestling, crafts, music and many others.

    Initiatives like this will inspire them to do more’’

    ‘’Most importantly we are telling our stories and the strength of Africa, Aregbe added.

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     In its 17th edition, the cultural fest is focused on promoting indigenous tourism and cultural content while exploring its potential for economic development.

     During the grand finale of Culturati festival, at the the Balmoral Hall, Federal Palace Hotel, Victoria Island, Lagos, lovers of cultural activities received exactly what they needed- spellbinding cultural vibes.

     The venue of the festival was filled with lovers of culture and everything cultural. From start to finish, the atmosphere was electrifying.

    The energy that the participants of the cultural fashion show, who were drawn from different parts of Nigeria exuded on stage, consistently sent the excited audience into ecstatic roars. 

    ca’s Economy Through Investments in Culture, Arts & Tourism,’ on November 16.

    Anchoring the finale, Nancy Isime’s captivating presence and finesse on stage left attendees enchanted with her beauty and prowess.

     Several vintage cars from the 70s and 80s were exhibited at the entrance of the Balmoral Hall before the event kicked off. Guests were dressed in different African prints and different styles.

  • Lawmaker lifts constituents with 5,000 food packs

    Lawmaker lifts constituents with 5,000 food packs

    The Lawmaker representing Mainland Federal Constituency in the House of Representatives, Moshood Oshun, had distributed food packs to 5,000 residents in his constituency.

    The beneficiaries were vulnerable households drawn from community development associations, artisans and schools.

    A former House of Representative member, Jide Jimoh, who kicked off the distribution, praised Oshun for remembering his constituency.

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    He said: “For him to have thought of assisting members of the different communities with essential food items, we thank him because it is not easy to feed people. It is not easy to help the poor. Many members of the community, no matter where they belong politically, will benefit.”

    Jimmy therefore urged the people to repay Oshun in good deeds.

    The Queens College community, Ya back, got 12 food packs. Mrs. Abiola Jacobs, who picked the items on behalf of the community, said: “The lawmaker has always been good to the Queens College community. He always assists the school and sometimes visits. I am very happy about it and, on behalf of the Queens College community, we say a big thank you to our lawmaker, Hon. Moshood Oshun for the love shown to the school. We pray the good Lord bless him abundantly.”   

  • Sanwo-Olu seeks investors’ support to grow MSMEs

    Sanwo-Olu seeks investors’ support to grow MSMEs

    Lagos State Governor Babajide Sanwo-Olu has called on local and international investors to partner Micro Small and Medium Enterprises (MSMEs) and scale up their products and services so they can break into African Continental Free Trade Area (AfCFTA) and global market.

    Sanwo-Olu said with the collaboration, there will be a reasonable return on investment for small businesses in Lagos and Nigeria.

    The governor made the call at the closing of the eighth Lagos MSMEs Exclusive Trade Fair at Ikoyi, with the theme ‘Empowering MSMEs for AfCTA Excellence through Sustainable Economic Growth’. He described the fair as ‘a marketing platform to promote the products and services of entrepreneurs in the state at no cost’.

    Sanwo-Olu, represented by the Commissioner for Commerce, Co-operatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, noted that the trade fair has been a period of networking among the MSMEs and visitors, along with fruitful deliberation during the Business Clinics; facilitated by critical stakeholders. He acknowledged the contribution of the sector as a catalyst of a viable economy, stressing that the state will continue to promote various range of products and services that are made in Lagos through the sector.

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    He said: ”MSMEs remain a major factor in creating employment and wealth, generating income, improving standard of living and enabling investment opportunities for profit. Your developmental role is not only significant but highly commendable. This is why I must draw the attention of investors to take advantage of the opportunities in this sector in order to grow the state’s economy.

    “I must also emphasise that we have obtained many feedback from this fair, and they will help the government in planning for future events and improving on our service delivery towards making Lagos A 21st Century Economy.

    “The theme of this eighth edition of the Lagos MSMEs Exclusive Trade Fair is appropriate and well-timed. It speaks to the T.H.E.M.E.S Plus Development Agenda of Mr. Governor, including the steps being taken to position women and youths to explore the benefits of AfCFTA and the global market in general.

    “In the last five days of this great fair, we have impacted and increased the local economic activities of the Lagos Division. Through the engagement of entrepreneurs, vendors and artisans dealing in marquee, shell scheme (booths), carpenters, electricians, food, chair and table rentals, cleaners and others, we have generated employment and improved standard of living.”

  • Stakeholders seek unfreezing of electricity tariff

    Stakeholders seek unfreezing of electricity tariff

    Stakeholders in the electricity industry have called for the unfreezing of the Multi-Year Tariff Order (MYTO).

    They spoke at the maiden edition of the Nigerian Electricity Supply Industry (NESI) Market Participants and Stakeholders’ Roundtable (NMPSR).

    The communique was issued yesterday in Abuja by the Central Planning Committee, Chairman Prof. Stephen Ogaji and  Central Planning Committee Secretary, Mr. Oyebode Fadipe.

    The communique said, “Reopen the MYTO and provide a tariff that incentivizes capacity sustenance and additions, including the move to a combined cycle.”

    According to the communique, the stakeholders noted that the current MYTO is outdated after over 10 years and needs a decoupling since enough sector data should have been gathered to improve the assumptions initially made.

    The stakeholders urged the Nigerian Electricity Regulatory Commission (NERC)  should implement a fair and cost-reflective tariff structure that encourages

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    investment, ensures revenue sufficiency, and incentivizes efficient energy consumption.

    They insisted that the cost reflective tariff should be treated as an output, not an input.

    Electricity Distribution Companies (DisCos), said the communique, should introduce energy efficiency programs and initiatives to encourage customers to adopt energy-saving practices and technologies.

    The stakeholders also insisted that DisCos should expand the deployment of smart meters to improve billing accuracy, and revenue collection, and reduce electricity theft.

    They also said a  full contractual market with capacity payment should be encouraged.

    According to the communique, this will enable the replacement of aging capacities as well as support the retention of existing capacities.

    It said the “Roundtable identified several key challenges within NESI. These challenges include power generation: privatization, Challenges, and the Way Forward

    • Inadequate power generation capacity: Nigeria faces a significant challenge in meeting the growing demand for electricity due to insufficient power generation

    capacity, in addition to poor utilization of power generated and stranded generation

    capacity.

    ” Current generation constraints include – gas volume and pressure, transmission, collection/financing, and risk mismatch or misalignment.”

    `On  gas-to-power: Challenges and the Way Forward, the stakeholders said, “Pricing gas in Naira currency will diminish any incentive to continue domestic gas production. Continuing this path will further increase gas prices until any parity issues are recovered.

    “This is because producers will not accept or absorb the currency exchange risk.”

  • LCCI backs World Bank on underperformance of NNPCL, others

    LCCI backs World Bank on underperformance of NNPCL, others

    The Lagos Chamber of Commerce & Industry (LCCI) has said it share similar views with the World Bank on the opacity and underperformance of the Nigerian National Petroleum Corporation Limited (NNPCL) and other Governmen-Owned Enterprises (GOEs). 

    LCCI   said the improvement of government revenue could only be achieved by reforms and commitment on the part of the government to improve transparency and a comprehensive strategy that will improve the performance of the enterprises, including privatisation options.

     LCCI Director- General, Dr Chinyere Almona, in a statement, said it would not support the immediate increase in Value-Added Tax (VAT) due to its cost impact on consumers in the immediate term.

    On the partial return of subsidy, she said the Chamber supports the views of the World Bank and the need to adjust petrol prices to reflect market conditions.

    According to her, over the years, the Chamber has consistently advocated the full deregulation of petroleum products.  She said: “We are, however, worried about the monopoly in the importation and supply of the products by NNPCl and the lack of transparency in the pricing of the products.

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    “In relation to the unstable FX market, the Chamber recommends that the government, in the short term, should address the supply gap in the market and improve its forex earnings by declaring an emergency in oil & gas production.’’

    “In the medium term, the government must strategically pursue and incentivize the local production of basic household needs that are being heavily imported in order to reduce the huge demand of Forex.

    The LCCI boss insisted on the need to build market confidence around free FX pricing and implement policies to channel FX supply into the market.

    In continuation of their response to the World Bank’s Nigeria Development Update (NDU) themed “Turning the Corner, From Reforms and Renewed Hope to Results”, the LCCI boss said they share the global bank’s concerns about the Nation’s economy despite the reforms carried out so far including fuel subsidy removal, liberalization of the foreign exchange market, removal of 43 items from FX restrictions and tightening of monetary policy.

    According to her a detailed review of the report revealed that the key concerns in the Nigerian economy are high inflation, revenue leakages, unstable FX market due to liquidity challenges, increased poverty due to the high cost of living, partial return of subsidy, and sub-optimal GDP growth.

    The LCCI notes with concern, as highlighted by the World Bank, the continued uptick in inflation and its severe impact on businesses, consumers’ income, spending & saving as well as manufacturing productivity in the country. We urge the CBN to intensify its efforts to address the challenge by adopting the right policy mix and ensuring synergy with fiscal authorities she stated.

    In her recommendation she said the Chambers in the short run is urging on the need for government to focus on the critical needs of the poor and ensure regenerative investments in priority sectors of the economy. According to her this includes agriculture, transport, health, youth development and human capital, infrastructure and housing.