Tag: contribution

  • Dangote amazes me with contribution to global health, says Bill Gates

    Microsoft founder, Mr. Bill Gates, is full of praise for Nigerian businessman, Alhaji Aliko Dangote, for what the American philanthropist describes as his generous contribution to global health.

    Gates says he is amazed by Dangote’s generosity with his resources and time.

    Speaking ahead of the release of the 2018 Bill and Melinda Gates Annual Letter to a group of journalists from different African countries in a telephone conference, Gates said: “I am always amazed how generous he has been both with his resources and his time.

    “Just last month, he and I spent six hours on video conferences with six of the northern states where we, twice a year, check in with them and look at their primary healthcare quality in terms of the staff, the location, the supply chain and the results they are getting in terms of vaccination and other interventions.”

    Asked what he would say to convince billionaires in Nigeria to consider the commonwealth in their country instead of acquiring wealth and stashing it offshore, Gates said: “In the entire world, Mr. Dangote has been a very key partner (of the Gates Foundation in funding global health). And the big challenge of improving the primary healthcare, particularly in the North, I know we would not have a chance of doing that without him.

    “I have had a chance to meet with other Nigerians but, in fact, he is the only one who I am personally aware of his significant activities that is working in this key sector.

    “There may be other people working in sectors like education or other environments that we don’t work in.

    “Whenever I travel, I try to sit down with successful people and encourage them that philanthropy can be a great thing.

    “I was looking over the Nigeria purported list of wealthy people and it was interesting that a number of those seem to be based in London.

    “But I am always interested in suggestions about how we draw more people in. We need lots and lots of partners, particularly if they understand the local issues and how the government works locally.

    “They have credibility and understanding that we don’t have. And so we would love to have more partnerships like we have with Mr. Dangote.

    “The companies we work with have a presence in Africa and there are certainly smaller organisations, profit and non-profit like eHealth in Nigeria, or some of the scientific companies in South Africa.

    “One of the two philanthropists that we work with is Patrice Motsepe in South Africa. Aliko Dangote who has been an incredible partner in Nigeria works with us on things like nutrition and the primary healthcare sector.”

    Gates, co-Chair of the Gates Foundation, was in Kano on Friday to attend the wedding Fatiha of Dangotes’ daughter, Fatimah and  Jamil Abubakar, son of former Inspector-General of police, Mohammed Dahiru Abubakar.

  • Ministry targets $27b contribution to GDP by 2025

    The Ministry of Mines and Steel Development will contribute 27 billion dollars (about N9.7trillion) to the Gross Domestic Product (GDP) by 2025, it was learnt yesterday.

    The ministry stated this in its Road Map in Abuja, adding that the contribution would be achieved in three phases.

    It said the phase one was to stabilise the sector and rebuild the country’s market confidence between 2016 and 2018.

    According to roadmap, the second phase will focus on establishing Nigeria as a competitive African mining and mineral processing centre from 2016 to 2020.

    The ministry said the third phase would will enable Nigeria compete in the global market for refined metals and minerals from 2018 to 2030 in addition to selected ore exportation.

  • El-Rufai praises NB on contribution to economy

    El-Rufai praises NB on contribution to economy

    Kaduna State Governor Nasir Ahmad el-Rufai has praised Nigerian Breweries Plc for its role in the economic development of the state. The company, he said, remained the biggest tax payer in the state.

    The governor, who was at NB Plc’s stand at the just-concluded Kaduna Economic and Investment Summit (KadInvest 2.0), said the firm plays a big role in the state, as far as investment and “economic growth are concerned”.

    The governor was accompanied by the National Chairman of the All Progressives Congress (APC), Chief John Odigie Oyegun; Kano State Governor, Alh. Umar Ganduje and his Zamfara State counterpart and Chairman of the Nigeria’s Governors’ Forum, Alh. Abdullazeez Abubakar Yari, as well as the Deputy Governor of Jigawa State, Barrister Ibrahim Hassan.

    El-Rufai maintained that NB Plc was a shining example in corporate Nigeria and a strategic partner for development in the state given its huge investments and social intervention programmes in Kaduna.

    Earlier, while welcoming the governor and his entourage to the stand, the Corporate Affairs Adviser of NB Plc, Mr. Kufre Ekanem, said Kaduna State was a friendly environment for investment and has been home to Nigerian Breweries since 1964 when its first brewery was built in Kakuri.

    Ekanem thanked the Kaduna State Government for its support over the years stressing that the company will continue to be a partner for growth and development in the state in line with its commitment to supporting the development aspirations of its host governments and communities.

  • Why power contribution to GDP is low

    Infrastructural bottlenecks, such as obsolete gas pipelines, vandalism, inability of the turbines to access gas for production, dismal state of hydro power equipment, and irregular power supply, have hindered job creation in the electricity and other sectors.This is also affecting the industry’s contribution to the nation’s Gross Domestic Product (GDP), the Head, Oil and Gas Department, Ecobank Nigeria Plc, Mrs. Olufunke Jones has said.

    She mentioned other issues to include poor funding of the sector occasioned by the reluctance of banks to lend to the power firms, and faulty distribution equipment, adding that the output of the sector has remained low, despite its privitisation a few years ago.

    Speaking during a stakeholders’ forum in Lagos,  Jones said unlike the petroleum industry, which  provides 70 per cent of the Federal Government’s earnings  and further contributes over seven  per cent to nation’s Gross Domestic Product,  the power sector has not.

    She said: “The Federal Government, the Ministry of Power, the Nigerian Electricity Regulatory Commission (NERC), the Transmission Company of Nigeria (TCN), the power firms, and other relevant stakeholders need to develop a template that is robust, adaptable and good enough to facilitate improved power supply.  When this happens, the potentials of the sector would be galvanised to create employment. Anything short of this means the sector would not be able to contribute greatly to the GDP.’’

    She said  renewable energy would provide more than 40 per cent of electricity requirement in the West African region by 2040, urging the Federal Government to maximise the opportunities in the renewable energy.

    “By 2040, the region is expected to generate 40 per cent of its electricity from renewable energy.  Nigeria needs to localise power, by using available natural resources. Where there is sunlight, coal, wind and other renewable energy sources, the country should make use of them. The combination of  both the off-grid and on-grid  means of  generating power would help in improving power supply, as well as contribution to the economy.’’ she added.

    According to her, improvement in the operation of the West African Gas Pipeline project, and others initiated to develop power and petrochemical industries is key to the growth of the region.

    The Nigerian Electricity Regulatory Commission had in December 2014, inaugurated an 11-man advisory board that would manage deployment and use of the regulation in every facet of the power sector.  NERC’s former Chief, Dr Sam Amadi said the development was aimed at creating opportunities for Nigerians to participate actively  in the sector and further improve contribution to the nation’s GDP.

  • Pay your N250m contribution, BoI urges Gombe

    Pay your N250m contribution, BoI urges Gombe

    The Bank of Industry (BOI) has called on Gombe Sate government to urgently release its outstanding counterpart contribution of N250 million to the matching fund to enable it facilitate job creation in the state through funding of loan under the matching fund scheme.

    The Managing Director/CEO of the Bank, Rasheed Olaoluwa spoke in Gombe during the commissioning of the Bank’s branch in the state capital yesterday.

    He said the sum of N903.4 million was approved as loan for 171 projects; but only 55% of the approved loan amount could be funded under the Matching Fund Scheme because available matching fund was N500 million.

    He said: “Notwithstanding, BOI had disbursed N110 million to 16 enterprises in the state from its own resources” all of which had culminated in the creation of “1,277 direct and 623 indirect jobs, totalling 1,900 jobs created”.

    Gombe state government had in 2011 signed a N1 billion entrepreneurship development partnership with BOI in which both parties contributed N250 million each to create a pool of N500 million which was distributed as loans to prospective entrepreneurs in the state.

    Governor Ibrahim Hassan Dankwambo on his part promised that the second tranche of N250 million would be made available to BOI “when government’s finances improve.”

    He said achievements obtained through the entrepreneurship development scheme include: “171 cooperative societies benefiting from the programme, creation of 1,190 direct jobs, creation of 562 indirect jobs and establishment of 171 enterprises in 24 product lines in agriculture and minerals sectors”.

  • Miners plan 10% contribution to GDP

    Miners plan 10% contribution to GDP

    The Miners Association of Nigeria has said with the support of the President Muhammadu Buhari- led administration, it could increase mining contribution to Gross Domestic Product (GDP) to 10 per cent.

    It added that with the Federal Government’s cooperation, the sector could generate 300,000 jobs in one year.

    Its President, Alhaji Sani Shehu, presented this position in the association’s five year Strategic Development Plan for Mining Sector in a  press conference at Abuja.

    He said: “As a major stakeholder in the mining industry, the association has, as a matter of responsibility, resolved to work with the present government to actualise her aspirations of generating additional revenue for the nation and creating massive job opportunities for its teeming population.

    “For this reason, the Executive Council of Miners Association of Nigeria has developed a five-year Strategic Development Plan for Mining in Nigeria. It promises about 300,000 jobs in one year and a contribution of up to 10% to the Gross Domestic Product (GDP).”

    According to him, the challenges in the sector are unfavourable conditions for access to funding, inadequate geological and bankable data, inadequate logistical support and the issues with artisanal mining.

    The association’s chief added that inadequate funding of the Ministry of Mines and Steel Development, interference of mining operations by lower tiers of government in Ogun, Oyo, Benue, Cross River and other states are still barriers to development in the sector.

    Proposing  solutions to the challenges, the association urged the Federal Government to intensify efforts at continuous data generation, proper funding of the Solid Minerals Development Fund and adequate funding of the ministry to strengthen its relevant departments to perform their statutory functions effectively.

    The association also suggested that there should be favourable conditions for access to funding for operators at single digit interest rates.

    It urged the government on extension of local content law for operators at single digit interest rate.

    Asked to mention priorities in a wish list to Buhari, Sani Shehu said funding was very critical, urging the government to funding its machinery.