Tag: Development

  • Rep assures constituents on development

    Rep assures constituents on development

    The member representing Apapa Federal Constituency in the House of Representatives, Ayodeji Joseph, has assured his constituents that their challenges will be addressed at the National Assembly.

    He spoke at an interactive dinner organised by the maritime operators at Rockview Hotel at Park Lane in Apapa, Lagos.

    Ayodeji, who identified poor roads as the major challenge the people were facing, assured them that before the end of the year, some roads would be expanded.

    Convener Chief Gabby Dimudde-Kabayan, who said the Federal Government gets 74 per cent of its revenue from the maritime sector, called for an urgent repair of roads in Apapa since most of the maritime activities happen there.

    Spokesman of the Lagos State All Progressives Congress (APC) Mr. Jones Igbokwe said Lagos would collaborate with the Federal Government to put the roads in proper shape.

  • Council makes case for educational development

    Council makes case for educational development

    In the face of government commitment to education, the Executive Secretary of Amuwo Odofin Local Government, Deaconess Modupe Ajibola- Ojodu has made significant efforts to improve quality of education in the schools in terms of infrastructure development and otherwise.

    For her: “Having realized the effectiveness of education as a powerful instrument for national progress and development, we set out our plans in tandem with the reality on ground. A nation develops to its achievement in education. This explains why contemporary world attention has focused on education as an instrument of launching nations into the world of science and technology and with consequential hope of human advancement in terms of living conditions and development of the environment.”

    Recently, the desire of 100 students in the Local Government to write the November/December General Certificate of Examination (GCE) came to fruition as the Local Government gave out free forms to the students.

    Ajibola- Ojodu said: “I believe we should encourage the youths. We are not going to stop at the form distribution; we are moving further by organising extra classes for the beneficiaries. And we promise that the sky is the beginning of our pursuit for standard education in the Local Government.”

    She also said the council has renovated the Vocational Centre to modern standard and assured that: “This simple and singular exercise will mould their destinies and transform their lives” as well as veer the minds of youths from vices, while strengthening their entrepreneurial capabilities.

    The Executive Secretary also distributed 200 magic boards to all the 22 primary schools in the local Government area.

    She however appealed to corporate bodies to assist government in its pursuit for academic excellence for the youths in the Local Government.

    “Organizations like commercial banks and other wealthy individuals should assist immensely in funding education at all levels. Development partners and other crucial stakeholders should also do more in the above direction, as the era of leaving the funding to government alone had passed,” she averred.

    In a related development, the Executive Secretary urged pupils of Charles Lorie School, Festac Town, Lagos to pay more attention to their studies and be good ambassadors of their school, the Local and State Government at a courtesy visit of the school to the Local government Secretariat.

  • South African bank raises N50b for property development in Nigeria, others

    FirstRand Bank Ltd said the property unit of its investment banking arm has raised $203 million (about N50billion) for its Real Estate Development Fund (REDF) aimed at developing real estate assets in Nigeria and other West African countries.

    Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is a leading South African corporate and investment bank and part of one of the largest financial services groups in Africa.

    Aside Nigeria, RMB Westport is also looking at Ghana and Angola as key jurisdictions in which to develop retail and commercial property going forward.

    Commenting on the development, Director of RMB Westport, Michael O’Malley, said: “We believe in the African growth story. Over the past decade‚ African economic output has more than tripled‚ which is one of the many reasons we think that Africa today holds the greatest overall investment potential for all frontier markets globally.”

    RMB Westport opened its doors in 2008 when Rand Merchant Bank (RMB)‚ through its Real Estate Investment Banking division entered into a joint venture with the Westport Property Group to combine west African property development skills‚ capital and investing expertise to enable the construction and development of high-grade retail‚ commercial and industrial property assets in key growth nodes of sub-Saharan Africa.

    According to Africa Property News, an increasing proportion of Africa’s population is moving into urban areas as economic growth quickens, with houses and malls being built in major cities including Accra, Abuja and Luanda, the capitals of Ghana, Nigeria and Angola respectively.

    O’Malley who has spent the past 20 years working on retail and mixed-use projects in 12 African countries, says the discovery of oil in Ghana will likely lead to a further increase in investor interest and subsequent demand for office and industrial space.

    RMB Westport is no newcomer to Africa. Some of RMB Westport’s biggest projects (at various levels of completion) include: Icon House and Accra Financial Centre (A-grade buildings in Ghana); Ikeja City Mall (the largest shopping mall in Nigeria); Osapa Retail (Phase I) and Project Wings (Office and retail property in Nigeria) and recently the Junction Shopping Centre (retail property in Accra‚ Ghana).

  • Population profile critical to development

    The above title is a paraphrase from an address delivered by Eze Duruiheoma (SAN), Chairman, National Population Commission (NPC), at the investiture ceremony of Rotarian Alex Geolebedum, as the 34th President of the Rotary Club of Festac Town, on Saturday, October 17, 2015. As observed by the Commission Chair, there is a point of confluence between Rotary and the NPC “in the noble cause of advancing humanity through projects that have direct bearing on the people”. As he also noted, “the people are both the agents and beneficiaries of any development effort”.

    With a current estimated population of 187,301, 926, Nigeria he observed, is the tenth most populous country in the world; but by 2050, with an estimated population of 289 million, she would become the fifth most populous country. Quoting the National Bureau of Statistics (2010), Duruiheoma said, “it would be noticed that as the population of the country grows, the incidence of poverty also increased”. Observably “rapid population growth threatens food security, causes massive food importation that drains scarce resources and mounts pressure on the available arable land leading to excessive fragmentation”.

    From his analysis, the threat posed by high level of unemployment among the youthful population in our country, is even more precarious than many Nigerians may know. With young people who are aged 0-24 constituting 62 percent of the total Nigerian population (2009), high unemployment among the youths, clearly pose a grievous threat to the very existence of our country. The army of unemployed youths may indeed explain why the army of Boko Haram, suicide bombers, kidnappers, violent armed robbers, reckless okada riders, political thugs, street hawkers and other purveyors of security threats, seems to be inexhaustible.

    Going further, he informed the august gathering that “while the annual population growth rate is 3.2 percent, the annual Gross Domestic Product (GDP) growth rate is 3.5 percent”. Before the audience could get excited by the slight difference between the GDP and the population growth rate, the learned silkwarned, “though the growth rate appears higher, the economy cannot accommodate the rapid population growth and regardless of the fact that the country is rich in both human and natural resources, much more resources will be required to take care of the ever growing population that will over stretch the resources available for development”.

    President Muhammadu Buahri (PMB), the state governors, the local government administrators, and the Millennium Development Agencies (MDA), and indeed all agencies of government and the private sector,from that report, clearly have their jobs caught out for them. Grow the national economy and create more employment opportunities for our youthful population, if Nigeria is to survive.The realisation that the population profile is also critical to national security, may have informed the desperation by PMB to find the technical study, conducted by President Olusegun Obasanjo’s government, on how to channel some rivers to the Lake Chad, to provide economic opportunities for over two million people, relying on the lake for survival. That obviously will help the north east have respite, fromarmed insurgencies, like the Boko Haram.

    Considering that many state governors have borrowed from the federal government, which itself is substantially insolvent, to meet their recurrent expenditure, the future is indeed grim, for our dear county.For if they have borrowed to eat, how would they be able to save, to invest? And yet without investment in critical infrastructure, the much sought after employment opportunities, would remain a mirage.As the Chairman said in his lecture, “high fertility leads to high increase in schools enrolment and pressure on facilities”. He also noted that “scores of urban slums now exist in our cities with people living in sub-human conditions without decent accommodation, toilet facilities and infrastructure”.

    Perhaps the realisation of the inadequacy of government as the sole purveyor of development and the realisation of the enormous contribution of Rotary to human development, across the nations of the world, may have informed the interest of the NPC Chair, in the affairs of Rotary. Interestingly, the Rotary Club of Festac Town, has exceptionally distinguished herself, in the pursuit of Service Above Self, which is the Motto of the Rotary Movement. Giving a record of his performance in office, the immediate Past President of the Club, Rotarian Gabriel Onyema, confirmed that the Club spent over 25 million naira, in rendering humanitarian services, in the 2014-2015 rotary year.

    With the huge success recorded in the past rotary year, in service to humanity; the new rotary year, is expectedly going to be more exciting and challenging. According the new president, Rotarian Alex, the six arrears of focus for the rotary year, is, peace and conflict prevention/resolution; disease prevention and treatment; water and sanitation; maternal and child health; better education and literacy and economic and community development. He and his board which was also inaugurated by him, last Saturday, proposed a conservative budget of 22 million naira, for the rotary year.

    Instructively, in his address, the Chairman of the NPC, reminded the gathering of the National Policy on Population for Sustainable Development (2004), the objectives of which are “to increase understanding and awareness of the interrelationships between populationand development, expansion of access and coverage to improve quality of reproductive and sexual healthcare services, and strengthening and expansion of comprehensive family planning and fertility management programme”.The commission chair admitted that “the policy have not been met due largely to lack of commitment by stakeholders”.

    He therefore enjoined Rotarians “to help to sensitize stakeholders on the imperative for the review of the population policy … so that the nation can have a new National Population Policy that will embody our aspirations and determination as a nation”.

     

  • Provost tasks Nigerian scholars on intellectual development

    Provost tasks Nigerian scholars on intellectual development

    The Provost, Adeyemi College of Education, (ACE) Ondo, Prof. Olukoya Ogen, has urged scholars to seek global outreach and intellectual development in order to enhance their career. Ogen gave the advice at a workshop themed: “Writing Research proposals for Fellowship and Grants” held at the Management Information System (MIS) building of the institution.

    The workshop was sponsored by the United Kingdom/Economic and Social Research Council (UK/E.S.R.C).

    Stressing the importance of international collaboration in knowledge transfer, the Provost said participation in seminars and conferences outside their institutions would help Nigerian academics to acquire knowledge and gain exposure to compete favourably on the world stage.

    Ogen also said Nigerian institutions need to keep abreast of global trends as institutions in the 21st Century are defined not only by physical attributes, but international presence, competitiveness and global recognition.

    In his welcome address, the Dean, School of Arts and Social Sciences, Dr Gbade Ikuejube, described the workshop as a landmark achievement and first of its kind in the history of the institution.

    Expressing optimism on the immense benefits that would accrue to participants from the workshop, Ikuejube described the team of resource persons as seasoned and experienced.

    Also speaking, Dr. Insa Nolte, a researcher and history lecturer in the Department of History, University of Birmingham, United Kingdom, said the programme was aimed at developing the skills and proficiency of scholars in Nigerian institutions to enable them compete and network internationally.

    Calling for effective collaboration between Nigerian scholars and their overseas counterparts, he said knowledge transfer could better be achieved with international collaboration and mutual engagements.

    The two-day programme featured presentation of papers on various topics which include: “An overview of available national and international grants and fellowship programmes”, “Applying for and winning the George Forster/AVH Fellowships”; “Applying for and winning the Cadbury and AHP-ACLS  fellowships and “Applying for and winning the Leventis fellowship.”

     

  • Stockbrokers woo entrepreneurs on capital market development

    Stockbrokers woo entrepreneurs on capital market development

    Stockbrokers have started wooing indigenous entrepreneurs to the capital market as part of efforts to deepen the  market and enhance its developmental roles in the economy.

    Stockbrokers would be using the platform of the yearly conference of the Chartered Institute of Stockbrokers (CIS), scheduled for October 29 and 30, to discuss  key strategies and ways of enhancing the use of capital market by Nigerian entrepreneurs.

    Addressing capital market reporters on the forthcoming conference, Chairman, Programmes Committee of CIS, Mr Akeem Oyewale, said the Institute has chosen the theme: Entrepreneurship and the Capital market: Fast-tracking a new economy for Africa, in demonstration of the importance of entrepreneurs in the quest to boost activities and reposition the market for global competitiveness.

    According to him, no capital market can thrive without the participation of entrepreneurs who have the capacity to bring their companies for listing on the stock exchanges.

    “It has been proven that our annual conference is a platform for articulating issues that would help the government in its policy planning and implementation. Last year’s conference focused on the entertainment industry and many of the key players in that sector have been utilising the market facilities to expand their businesses.

    “Capital Market is not just about listing alone, there are other windows such as the use of debt instruments to raise fund. We are focusing on the entrepreneurs this year as part of our input towards strengthening the African capital markets. We want to promote entrepreneurs because they occupy a pivotal role in the development of a capital market,” Oyewale said.

    Chairman, Annual Conference Sub-Committee, Mr Wale Agbeyangi, explained that participants for the conference had been carefully selected with emphasis on those who are knowledgeable about issues of capital market development.

    Managing Director, Fortress Capital, Mr Yomi Adeyemi, noted that Africa has many entrepreneurs that can compete globally.

     

     

    “We need to promote our entrepreneurs. As the present administration tries to tackle social problems including unemployment, the roles of entrepreneurs become more glaring. We must encourage our entrepreneurs to come and create more businesses and employ people,” Adeyemi said.

    The conference would be flag-off by the Vice President, Federal Republic of Nigeria, Professor YemiOsinbajo. Other speakers included Mr Akinwunmi Ambode, Executive Governor, Lagos State, Mr Mounir Gwarzo, Director General, Securities & Exchange Commission (SEC), Mr Oscar Onyema, CEO, Nigerian Stock Exchange (NSE); Mr Tony Elumelu, Chairman, Heirs Holdings; Michael Harris, Head of Research and  kurkish Product, Rencap, Mr Bismark Rewane, CEO, Financial Derivatives Company, Mr Peter Bankole, Director, Enterprise Development Centre, Pan African University; Mr Rasheed Olaoluwa, MD, Bank of Industry (BOI) and Ms. Eme Essien-Lore, Country Manager, IFC among others.

     

  • How Nigeria can fund newly adopted development goals, by UN chief

    How Nigeria can fund newly adopted development goals, by UN chief

    Nigeria may need to find innovative ways of funding the newly adopted Sustainable Development Goals (SDGs), it has been learnt. Unlike in the  past when the country received international aid to implement the Millennium Development Goals, that the country might have to look inwards to fund the global goals adopted by world leaders on Friday at the United Nations headquarters.

    Thomas Gass, an assistant secretary general of the United Nation, who spoke with The Nation at the United Nations Headquarters in New York said it was important for government of developing countries as Nigeria to ensure the flow of funding within the country to support the goals.

    “It is very clear that this new agenda cannot be paid for only by Development Corporations. It would be important that the developed countries raise their Official Development Assistance (ODA ) to 0.7 of Gross National Income (GNI)  and many countries are still far from that. Government needs to ensure that all the flows of funding within the country actually support sustainable development. They need to ensure that all the companies operating are paying their taxes properly and see to it that international companies do not  shift their profits to other countries where they don’t have to pay for taxes”, said Gass.

    Asked if the United Nations would compel developed countries to pay compensation to African countries hit by the effects of climate change, he affirmed that the organisation was working towards a green climate fund through which countries can be supported in adapting and mitigating the effect of climate change.

    “There is work on a green climate fund  through which countries could be supported in adapting and mitigating the effects of climate change but compelling countries to do something never works very well. We have lots of experience of that in the United Nations.  It needs to be about convincing them that is in the best interest of the whole community for everyone to be able to shoulder the weight that they can carry, and that weight is heavier for some countries that it is for others.  The importance of climate change is that every country participates in a way that is based on the solidarity between people and between nations.

    The UN chief also reacted to the insinuation that 17 goals might be a long list for developing countries than are faced with other constraints, stating that although countries may set priorities where they would start, it was important they have a commitment to achieve all the goals as the 169 targets are closely linked and indivisible.

    “It is a long list because the needs and aspirations of the people are very complex and diverse.  The global goals are a new contract between government and their people and therefore must include all the issues that people need.   Of course countries will set priorities where they will start but it is very important that they have the commitment to achieve all the goals at all the time”.

    Acknowledging the fact that countries in the Lake Chad basin facing the Boko Haram menace might have more difficulties in achieving the SDGs; he  hoped that the conflicts in the region could be resolved using the right approach and strategies, especially as the new goals points to some of the  root cause of the crisis, such as poverty and inequality.

  • Council welcomes UN’s adoption of 17 development goals

    Council welcomes UN’s adoption of 17 development goals

    The African Ministers’ Council on Water (AMCOW) has welcomed the UN’s adoption of the 17 Sustainable Development Goals (SDGs) which aim at eradicating extreme poverty and hunger by 2030.

    This is contained in a statement by Mr Oseloka Zikora, Head of Communication of (AMCOW)  in Abuja yesterday.

    The statement, according to the News Agency of Nigeria (NAN), said the council welcomed the good news of all the SDGs, and in particular, Goal six solely dedicated to “ensure availability and sustainable management of water and sanitation for all by 2030.

    “One hundred and ninety-three world leaders met at the United Nations General Assembly and approved 17 SDGs to replace the Millennium Development Goals which will expire in December 2015.’’

    It congratulated the water and sanitation sector community for celebrating the inclusion of a dedicated water security and sanitation goal, saying without water, these goals could not be achieved.

    It quoted AMCOW President Mr Amadou Mansour-Faye, as saying that the centrality of sustainable management of water and sanitation in ending global poverty and ensuring sustainable development was not up for further debate.

    “The benefits extend well beyond the water and sanitation domain to ensuring increased agriculture and food production, energy security, and better education for our teeming populations,’’ Mansour-Faye, Senegal’s Minister for Hydraulic and Sanitation said.

    The statement noted that AMCOW played a significant role in the global advocacy for a distinct Water Security and Sanitation Goal.

    Such role, it said, was based on the firm belief that this was primarily essential for ensuring secure, productive and sustainable water for all purposes, sanitation and hygiene interventions.

  • AMSCO, NPC partner to boost enterprise development

    With the understanding that Nigerian businesses, particularly Small and Medium Enterprises (SMEs) require the capacity to engage at global levels, a conference was held in Lagos by African Management Services Company, AMSCO in collaboration with the National Planning Commission of Nigeria, NPC, to sensitize the Nigerian private sector about developing management capacity and expertise. AMSCO is a private sector development organisation that provides integrated human capital development solutions to private and public businesses across sub-Saharan Africa and  has evolved to become the leading advisory solutions provider; working to address the issue of market systems and capacity failures through management and skills development. The Organisation implements the African Training and Management Services (ATMS) Project of the United Nations Development Programme.

    The conference was to generate home-grown solutions to help address challenges like access to finance, shortage of skills, market access and a general enabling environment hindering their development and global attractiveness and to open up opportunities for dialogue and collaboration with key players.

    Speaking at the conference, Chief Executive Officer, Managing Director AMSCO, Mr Paul Malherbe stated three key issues that require special attention for Nigeria to reach its private sector development agenda, they include ;a change of focus from youth education to youth entrepreneurship, increased interventions that promote gender empowerment and directly developing SMEs with limited skills.

    His words: “Most Africans SMEs are faced with growth challenges because there is a dependency on large company or cooperates to educate them. Our business landscape can only improve if we don’t wait but rather place our lens on collaborations to develop human capital at SME level, matching the right skills to the right jobs, training the management of those businesses and helping them access financial capital to reinvent themselves, this is our core focus at AMSCO” said Malherbe.

    Also at the conference was the Governor of the Central Bank of Nigeria Mr Emefiele who underscored the crucial role that Nigerian enterprises play in the growth and sustenance of the Nigerian economy.He called on various stakeholders to take an active role in capacitating the private sector. “Promoting increased foreign direct investment and other capital inflows through policies that will attract foreign investors and strengthening the DFIs to promote affordable and long-term finance is required.”

    The, Executive Secretary of the NPC Mr Bassey Akpanyung emphasized that Nigeria is not unmindful of challenges in the Nigerian business environment. He said the rate of economic growth and development of any nation is functionally related to its infrastructure. “This informed the decision of Government to bring on board the 30 year National Master Plan in collaboration with the private sector aimed at addressing these gaps” he said.

    Participants at the conference agreed that building capacity for the private sector remains an indispensable step for Nigerian enterprises to be globally competitive and sustainable. Leaders of private and public businesses, senior government officials, Development Finance Institutions (DFIs) and donors were present.

    Further insights and recommendations were shared through two panel discussions, interrogating issues of access to finance and building capacity for sustainable growth.

    The conference was themed Accelerating Enterprise Growth and Competitiveness in Nigeria- Building Capacity for sustainable Development.

  • Monarch praises govt on skills acquisition development

    The Paramount Ruler of Ikot Abasi Local Government Area,Akwa Ibom State, HRM Edidem Udo Joe Ntukubom XII, has praised Governor Udom Gabriel Emmanuel for providing  skill acquisition centres across the state.

    Ntukubom said this when he  received the  Senior Special Assistant to the Governor on Skill Development Projects Centre, Dr. Majorie Abasiodiong in his palace.

    He noted that Governor Emmanuel’s administration accords priority to the welfare and well-being of Akwa Ibom citizenry, which has informed prompt actions towards rehabilitating defunct skills acquisition centres in the state.

    The former Council of Chiefs’ Chairman, Ntukubom, said  revamping  the  centres, would provide opportunities for youths to acquire various skills.

    The Senior Special aide noted that Emmanuel is poised to spread skills acquisition centres across the  state.

    She said her visit to the area was to have a first-hand knowledge of the state of the  centres, calling on all Ikot Abasi people in particular and Akwa Ibom indigenes at large to support the Governor Emmanuel administration.