The Nation Newspaper

Tag: economic development

  • Still on wards as building blocks for economic development

    Still on wards as building blocks for economic development

    By Vincent O. Akinyosoye

    Planning for development of the political wards depends on the availability of good statistics, particularly those assembled for tracking activities of citizens resident in rural and urban wards of the nation, as well as in all commercial and non-commercial entities and public institutions therein. The lack of such statistics has largely impeded service delivery at the ward level of governance. A major problem is that the data collection activities at that level are not coordinated for planning. But, if we are to achieve any meaningful development that is fully inclusive at this primary level, the time has come to put in place a viable system of data and information gathering from the primary level and its dissemination through the establishment of a National Integrated Information Management System (NIIMS) to aid the development process. The system will draw data and information about activities in the wards from various government agencies, notably the National Bureau of Statistics (NBS), National Population Commission (NPC), Federal Inland Revenue Service (FIRS), Independent National Electoral Commission (INEC), National Identity Management Commission (NIMC), Federal Ministry of Education (FME), Federal Ministry of Health (FMOH), National Immigration Service (NIS), Nigeria Police and other data and revenue-generating bodies amongst others. These agencies will have desks in the Political Ward Management Offices (PWMOs) gathering data on a routine basis and storing such data electronically. The individual electronic storage systems in the office will be networked with others into a central server at the state and federal levels.

    When fully established, the system will be managed through a network of databases of socio-economic information on all citizens and residents and their activities in Nigeria, as well as information on all commercial, institutional, and social activities within all defined geographical entities in the country, that is, the 8,809 political wards, 774 Local Government Areas, 36 states, and the FCT. The national database can also be configured to report information on each of the 109 senatorial districts and the 360 House of Representatives districts. This way, all major stakeholders in the legislative and executive arms of government will have the wherewithal to track development in their respective political domains. A NIIMS Centre should be established in each local government headquarters to receive data and information from the wards. Similarly, NIIMS Centre will be at the state headquarters and be linked to all the Local Government data centres in the states. All state NIIMS centres will then be connected with a centralised node at the national level in Abuja under the watch of the National Planning Commission, which is now in the adjunct of the Federal Ministry of Budget and National Planning.

    Numerous benefits will accrue from this novel statistical apparatus for development. It will serve as a repository for data and information for national planning and management of the economy in general, as it will support the National Population Commission in the routine assemblage of vital demographic statistics and headcounts to regularly update population figures at the ward, local government, state, and federal levels.

    In addition, it will support the Independent National Electoral Commission (INEC) in the electoral process, especially making it a routine to obtain an accurate number of people eligible to vote within each ward, LGA, state, and the entire nation. Importantly, NIIMS will constitute a routine and regular assemblage of statistics on outcomes of economic activities, which can assist in the production and tracking of macro-economic aggregates like the ward GDP estimates, as well as expose the challenges of the economy right from the wards level, such as unemployment and other disequilibrous contexts.

    This grassroots activity will create a system for assembling statistical and non-statistical information on Micro, SMEs, and LSEs to enable the government to plan and have a broader stronghold on the economy, and facilitate tax collection and revenue generation through obtaining information on individual and corporate commercial activities, professional bodies, and the wealth status of economic entities regularly. Through this system, tax evasion will be difficult, and anyone outside the government who demands information on the system will have to pay to generate income for the Political Ward Management Office. Furthermore, the ward statistics will provide a platform for the enumeration and valuation of housing stock, enabling the estimation of the investment component of the GDP and providing basic information to inform decisions on investments in housing estate establishments and create job opportunities in wards.

    In terms of public order, the ward statistical system will provide an avenue to check corruption as information on individuals, corporate and social organisations, land and other assets in each ward will be recorded with official identities which will also keep criminal activities in check since the basic information of every citizen in the wards will be available in a database including biometric data to track criminal and other unwholesome activities in the society.

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    All these will enable the establishment of the Social Security System (SSS) in the country to complement the National Identification Management System (NIMS). Finally, the entire system will provide information on the societal needs of people at the wards that can be aggregated for planning constituency projects for elected politicians at the state and national assemblies.

    The concept of NIIMS is formulated on the need to create a comprehensive database system that is comprehensive to support the government’s desire to modernise its approach to development planning and management in the country. This approach will be based on the use of statistics and information technology to drive the process of development by integrating and managing the various existing data and information systems, which presently operate in an uncoordinated fashion into a modern embedded system that contains information of all citizens and residents in the country as well as all commercial and non-commercial enterprises and their locations at the ward level. Such information will be easy to retrieve and disseminate whenever the need arises. Everyone will be assigned a unique National Security/National Identity Number (NIN) that will be needed for any official or business transaction.

    As established above, technology will play a big role in the operation of NIIMS. Since the country will be delineated along existing wards, LGAs, states, and the various constituencies, digital mapping will be an integral part of the design and functionality of NIIMS. And, since a large body of data will be involved in this exercise, as well as the attendant requirement for fast data communication from the 8,809 data points and the heterogeneous nature of the demand for data and information from numerous points, advanced technology will be required to operationalise this concept.

    In this regard, the Cloud Technology and the Geographical Information System (GIS) based mapping and database protocols are suggested as tools to make this system work. The present Global System of Mobile Communication (GSM) in the country can be deployed to connect the 8,809 wards, 774 LGAs, 36 states, and the FCT into a central virtual mass of data that is easily accessible for every user. This way, the cost of implementation will be manageable, as the bulk of the information will be in high demand for personal, official, and commercial purposes, there will be a price attached for access, which will make the cost-benefit outcome of the system attractive.

    • Akinyosoye is a retired professor of Applied Economics and Data Management and pioneer Statistician-General of the Federation and CEO of the National Bureau of Statistics (NBS).

  • Shares valuation as tool for economic development

    Shares valuation as tool for economic development

     Sir: I have noted with dismay that despite the fact that shares and stocks valuation constitute one of the most dynamic areas of national growth and sustenance, and despite several opportunities in it, transaction channels and large market availability, Nigerians are not making the best use of these opportunities for economic development. This is unlike in the more developed countries of the world. Nigeria’s shares and stocks assets, if properly harnessed and utilized, have the potential to achieve that objective.

    This is the gap we need to close, and the initiative we should key into.  When we launch into this critical aspect, more capital would be accessed by companies with higher valuations, and this will ensure more investment in growth-oriented activities. Confidence would be enhanced in the financial markets, investors would buy and sell various financial instruments such as stocks, bonds, currencies, commodities, derivatives and raise capital. With more capital raised, more funds would be available for investment, and the more we invest in the economy, the more growth we record.

    Nigerian economy is unique in various ways, with challenges in all critical services. Shares and stocks valuation is one of the challenges. We only need to comprehend the significance of shares and stocks valuation, and stakeholders would make informed choices and protect their interests effectively.

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    That makes it mandatory for estate surveyors and valuers to effectively key into this initiative and spearhead the unlocking of potentials in shares and stocks valuation. Partnership with the Securities and Exchange Commission (SEC) would suffice. SEC is strategic to ensuring standardization and optimal professionalism in carrying out this aspect of economic services with total compliance to best global practices in the overall interest of our nation. The partnership would enhance the promotion, advancement and deepening of the financial markets, a critical mission the organization has been driving since inception in 1979. The process will assist us in building human and institutional capacity for effective service delivery.

    To maximally benefit from the unveiling potentials and long-term prospects in this aspect of professional service, estate surveyors and valuers must intensify and sustain skills acquisition efforts. We should not relent in growing standards and professionalism through training, and re-training in order to be at par with international best practices and standards, especially in today’s technology driven world, where every profession keep innovating in order to remain relevant.

    It is my hope that we will get insight into the challenges in this economic development-enhancing endeavour, as well as the roadmap to turning the challenges to prospects and benefits.

    •Olanrewaju Olaitan,Lagos.

  • Towards sustainable economic development

    Towards sustainable economic development

    Sir: The United Kingdom is a nation of small businesses. In UK, there are more than 12.5 million small businesses employing half the work force and accounting for half the turnover. The federal government should take a cue from the UK by paying serious attention to small and medium enterprises.

    Nigeria with a population of about 220 million people is blessed with abundant human and mineral resources.

    Recall that in the past five decades, the country had developed so many economic policies; however implementation has been the problem.

    Some of the challenges that have militated against the country’s economic development include but not limited to corruption, lack of clear cut vision, lack of policy direction, lack of political will, policy somersault, lack of involvement of relevant stakeholders, insecurity and erratic power supply.

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    Power is very critical as far as economic development is concerned. It is quite unfortunate that the country can only generate 4000 MW of electricity while South Africa generates 50,000 MW. The federal government should declare a state of emergency in the power sector.

    To ensure food security, the federal government should encourage the sub-national governments to embark on aggressive farming by embracing mechanized farming. The state governments should ensure that farmers in their respective states are provided with necessary inputs such as lands, fertilizer, tractors, ploughs and harvesters. Farmers should be encouraged to form cooperative societies to make it easier for them to have access to equipment.

    Furthermore, it would be a good idea if the state governors could establish Agro-allied industries in each of the three senatorial districts. This will enable them to process their farm produce. Food crops like rice, corn, cassava, yams, tomatoes and dairy products can be processed, packaged and exported to generate forex for the country.

    Moreover, the federal government should try to develop our mining and tourism sectors so as to generate foreign exchange. Kenya makes a lot of money from tourism. We should learn from them. There are quite a number of mineral deposits that the country can explore to generate money. What is needed is the political will on the part of the government and commitments on the part of the masses. Finally, the federal government should set up a think-tank of economic experts that will develop an economic blueprint for the nation. It should ensure that the ongoing insecurity in the country is nipped in the bud. It should move to guarantee 24 hours’ power supply; strengthen the anti-graft agencies to enable them discharge their duties effectively.

    •Oladele Oladipupo,Oladeleoladipupo@gmail.com

  • Pathway to economic development through industrialisation

    Pathway to economic development through industrialisation

    By Vincent O. Akinyosoye

    It has been established in the literature of development that development comes in stages, starting from the primitive stage to the mass consumption stage. And, every country follows this established process of development, starting from agricultural production and mining operations using primitive technologies based mainly on human labour and rudimentary tools as capital items. This is followed by the second stage in which outputs of the primary production process are transformed into higher-value products through processing and low-level manufacturing augmented with the provision of utilities and construction activities. The tertiary stage is characterised by production activities made up of service activities like transportation, communications, trade, hotels and restaurants, finance, insurance, real estate, housing, business services and tourism as well as high-level government operations. This third stage is inter-twined with the second stage to produce the next stage which sets the condition for take-off to advance development in which the secondary production becomes the leading contributor to GDP, employment and income with substantial export of semi-finished and finished products.

    At the next stage of development, service industries completely dominate with substantial consumption activities like entertainment, hospitality, tourism, and sports. At this fourth stage, the economy becomes mature, leading to the final stage of development characterised by mass consumption in which different sectors of the economy become highly linked together, at which point the growth of one sector stimulates growth in the other sectors, with a seamless flow of new technologies across sectors.

    The Nigerian economy today is a mixture of these stages of development but it is chiefly defined by the take-off stage in which some modicum of primitive production, particularly in agriculture, exists with the secondary stage along which manufacturing and some service industries exist.

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    At independence in 1960 and before crude oil mining in the 1970s, primitive agriculture was the leading mode.  And since the 1970s, crude oil took over with trade and ICT-based activities now dominating.  Changes in the economy came through changes in private investment, public policies, and the civil war which altered the direction of investment by setting up arbitrary demands and changing the condition of supply. At present, the leading sectors of the Nigerian economy, as established in a recent macro-economic analytical work, throw up nine leading activity sectors, namely Construction, Oil refining, Rail Transportation, Pipelines, Textile, Apparel and Furniture, Trade (Wholesale and Retail), Utilities (Power Supply, Water Supply and Waste Management), Agriculture (Crops, Fisheries, Livestock and Forestry) and agro-allied manufacturing.  These are activity sectors consistent with the second and third stages of development.  To ensure that our economy grows beyond the present growth trajectory and moves the economy into the matured stage of development, the focus of government and private investors should be on the value-adding industrialisation process.

    This process will add value to agricultural produce and mineral resources, notably crude oil, gas, crude metal ores, precious stones and gemstones. Producing processed goods from these raw agricultural and crude mineral resources can provide the government an avenue to earn revenues through various taxes, duties, and levies that the producers will pay into the coffers of the government. Companies that produce value-added products from the raw produce will earn substantially more revenue than those entities that produce primary raw materials. Such companies can earn a premium for their extra efforts in their processing and finishing operations. This explains why a country’s earnings from taxes, duties and levies can be boosted by more industrialisation and enhanced production of value-added products they manufacture and sell in the domestic and export markets.

    The capability to produce semi-finished and finished products through value-addition activities will enable Nigeria to compete better in the international markets and make it possible for the country to earn substantially more foreign exchange by leveraging on the current ECOWAS trade protocols and African Continental Trade Agreement (AFCTA).  The foregoing explains why the country can boost its earnings in the domestic market and foreign exchange accruals from increased international trade through our numerous agricultural produce and minerals, as well as create jobs and improve workers’ technical competencies.  This way, value-adding manufacturing will contribute to greater output, income, and employment multipliers from industrialization as well as cause lesser leakage multipliers by relying less on imported inputs and export of semi-finished and finished products.

    The major value-added products that can be manufactured from the agricultural, solid mineral and petroleum resources in Nigeria are numerous and run into thousands.  From agricultural produce for example, industries can be built around the production of starch, bioethanol and bio-based products as well as others which include vegetable oils, beverages, glue, ethanol, soaps, detergents, sweeteners, candy, cigarettes, chocolate, leather, tyres and so on. From crude metal ores, we have structures of iron and steel, flat sheet iron, screws and bolts, flat-rolled products of stainless steel, hand tools, aluminium structures, railway construction materials, unwrought tin, wires of iron and copper and aluminium, cutlery, tools, etc.

    Furthermore, some industries can be built on the manufacture of chemical products based on the constituent elements in crude oil such as medications, serums and articles of hydrocarbons, polymers, insecticides, rodenticides, cleaning products, vulcanized rubbers, reagents, plastic fittings, fertilizers, perfumes, acids, paints, ethers, inks, hydrocarbons, amongst other chemical products.

    Another fast-moving industrial product from crude oil with a large market presence includes products such as plastics, integrated circuits transmission materials for communication, electronic boards, batteries, transformers and other like products. In the area of mobility products, industries can be developed around parts (components) for the manufacture of motor vehicles, tractors, motorcycles, trailers, vehicle bodies, bicycles, parts of railway locomotives, military tanks and armoured fighting vehicles. Others are vehicle chassis, engines, locomotives, and other like products.  In the case of the solid minerals, we have precious stones and gemstones from which beneficiation and refinement can produce jewellery of high quality in the form of gold, bronze, and silver as well as from tourmaline, beryl, amethyst, aquamarine, emerald, sapphire to name a few.

    Additionally, in the areas of crude petroleum and gas resources, several processing activities can be established around the production of fuel (petrol, diesel, aviation fuel and kerosene) liquid natural gas (LNG), cooking gas, wax, ink, ballpoint pens, plastics, nail polish, plastic bags, petroleum jelly, antiseptic, medicines, dyes, TV cabinets, battery cases, yarn, toilet seats, linoleum, candles, hand lotions, and so on.

    Building manufacturing businesses on these aforementioned products will not only increase output (GDP) into the future, the multiplier effects of the processes will add significantly to employment generation, increase income streams to the economy, reduce our dependence on imported raw materials and finished goods, as well as increase forex inflow into the country through exports and strengthen the value of the naira. On the part of the government, private sector associations like MAN, NACCIMA, and other private sector associations should be continually educated on the business possibilities in agriculture, solid minerals, and crude petroleum industries.

    Another area government can enable industrialisation is to pay great attention to making all items of economic, social, and institutional infrastructure fully functional in the country.  This way the country will fully move from middle to a high-income nation like Malaysia, Singapore, and South Korea, for example.

    • Akinyosoye, retired Professor of Applied Economics and Data Management is the first Statistician-General of the Federation and CEO of the National Bureau of Statistics (NBS).

  • SMEs engine room of economic development, says CWG chief

    The role of small, medium enterprises (SMEs) cannot be over-emphaised in economic development, an indigenous technology firm, CWG Plc has said.

    Its Ag. CEO, Adewale Adeyipo said the importance of SMEs in the process of social and economic development cannot be neglected, and its significance in the development of the country.

    According to him, it was summarised in the country’s third National Development Plan, 1975-1980; as the generation of employment opportunities, stimulation of indigenous entrepreneurship, facilitation of effective mobilisation of local resources including capital and skill as well as a reduction in regional disparities. Despite the slow growth of SMEs development, the impact of SMEs has been a known fact dated back as 1975, he said in a note.

    He said: “The Small Business and Entrepreneurship Council (SBE Council) statistics revealed that 99.7 per cent of U.S. (United States) businesses are SMEs. However, there are several barriers that the U.S. SME sector still faces, especially in commodities. The significant barriers to trading include insufficient access to finance, high transportation costs, tax laws, and rules, maintaining profitability, developing new products, language, and cultural differences.

    “Gaps like these signify no SME ecosystem is perfect, and they are required to keep evolving with time as new challenges arise. Despite the challenges in the SMEs market in the US, the sectors still contribute 47per cent of total employment.

    While in developing economies like India, the contribution of the SME sector to manufacturing output, employment, and exports of the country is quite significant. It is noted that regarding the value, the SME sector of India accounts for 45per cent of the manufacturing output and 40per cent of the total exports. India’s SME sector employs around 42 million people in over 13 million units throughout the country.”

    He said SMEs contribution is considerably high in economic development whether it is a developed country or a developing country, stressing that not only financially subsidised promotion is essential, but the strategic implementation becomes vital for sustainable development of the SME sector.

    “Strategic implementation takes care of financial aspects, human resource, marketing, research and development, technology, and corporate governance in the SME sector.

    SMEs in developed nations are not only relying on credit availability but technological innovation and infrastructural policies. Hence, it is critical for policymakers to create an enabling and sustainable environment as a bedrock for SMEs to flourish,” Adeyipo said.

  • Insurance crucial to economic development, say experts

    Governments at all levels, corporate entities and individuals need to embrace insurance for economic development, National Insurance Commission (NAICOM) Director, Rasaaq Salami, has said.

    He spoke during the launch of AXA Mansard Insurance Television Commercial (TVC) for Life Insurance products at the weekend in Lagos.

    The event titled: Role of insurance in economic development was attended by some experts.

    Stressing the important role of insurance in economic development, he cited recent incidents of collapsed buildings across the country.

    He said it was unfortunate that the three-storey building in Ita-Faji area of Lagos Island, that killed 20 people, including pupils of a school and other people was not insured.

    He pointed out that if the building was insured, insurance would have compensated all victims of the disaster.

    He added that this explains the important role of insurance in an economy.

    He, however, called on operators to do more in awareness creation that will spur people to embrace insurance, noting that this is the direction that the commission as the regulator is going.

    Lauding AXA Mansard, Salami said the commission is proud of the company’s TVC on life insurance policies because it is about customers getting benefits while still alive

    He said: “We need to start doing more in our plans to create awareness and that is the direction that the commission is going. We urge everybody to endeavour to take up an insurance policy.

    “The commission is impressed with the commercial because we believe this is the direction that we should be moving in the industry. We have always had adverts or creatives that talk about disasters and deaths. This has scared the people away from taking insurance. We are proud of this advert that gives benefits while the insured is alive.”

    AXA Mansard Chief Executive Officer Mr Kunle Ahmed said the company’s life insurance products gave cash-back, healthcare ‘checks and loyalty bonus on its life products.

    He said they believed that life products should not just  be about benefits after the death of an insured but benefits to an insured while alive.

    Ahmed stated that the TVC was designed in their quest to improve the well-being of Nigerians, improve the uptake of life insurance policies and deepen insurance penetration.

    “The TVC promotes the importance and benefits of life insurance, focusing on living benefits. We believe that the TVC will bring about a paradigm shift in people’s understanding of life insurance being the first of its kind in the insurance industry. The TVC is also a testament to our desire to seek solutions that will increase insurance uptake in the country. We did a lot of research and we believe that life insurance penetration is still very low in Nigeria.

    ‘’Many people would buy the general policies like motor, home insurance, etc and would rather not buy life insurance. We think that this may have to do with the way the life products are presented to the public. This is why we came up with the TVC we have today and we believe through this effort, the perception that people have about life products will change for the better.

    “AXA Mansard was incorporated in June 1989. Within the 30 years of our existence, the name of the company has changed but we have remained the best in service standard. The company is a member of AXA Group, a world leader in insurance and asset management with 166,000 employees, 107 million clients across 64 countries in the world.”

    Nigeria Insurers Association (NIA) Director-General Mrs Yetunde Ilori affirmed that there is low awareness for insurance, especially life policies.

    “People only relate the policies to death but I think the AXA Mansard TVC, people will feel more excited to purchase insurance. On the part of NIA, we will use the media in sensitising the public on the benefits of insurance,” she added.

  • Group to govt: deploy IT in economic development

    The Computer Professionals Registration Council of Nigeria (CPN) has urged the three tiers of government to embrace technology to deliver services to the people. It warned that governments that failed to embrace technology have fallen while those that deploy technology have continued to rise.

    Its Registrar, Mr. Allwell C. Achumba, who spoke during IT Professionals’ Assembly in Abuja,  said: “We live in a world driven and powered by intellect and technology, a world where we see nations rise and fall as a result of its embrace or neglect of IT. Therefore, we need to intensify our efforts at developing the IT profession in Nigeria. We should not pay lip service to our efforts at building a solid and highly respected IT profession in Nigeria. It is for the good of the profession, the nation as well as the professionals and practitioners who will be reaping the dividends of their sacrifice. IT profession has lots of prospects in Nigeria. Therefore, we should not be tired of putting more efforts and sacrifices especially in terms of effective regulation of the IT profession as well as discharging our financial obligations to the profession in order to make it what it should be in the country.

    Also, speaking on the occasion which had: Professionalism in Information Technology; Past, Present and Future as its them, the Minister of Education, Mallam Adamu Adamu said the Federal Government recognised the critical role of IT in its developmental agenda, and has therefore made IT a priority.

    The minister lamented the poor state of IT in the country and challenged Council to work with government towards the attainment of the national goals and the Sustainable Development Goals (SDGs). He also challenged the participants at the Assembly to discuss how the nation can facilitate technology – enabled learning as a way of preparing the youths for the future workplace.

    In his opening remarks, the Secretary to the Government of the Federation (SGF), Boss Mustapha congratulated CPN on its 25th anniversary celebrations. He said governments all over the world were becoming smart, efficient with the adoption of appropriate technologies to drive governance and create the requisite enabling environment for national change and the much needed transformation.

    He said, as the agency of government established to control and regulate the practice of Information Technology (IT) profession, the role of CPN in the scheme of developmental goals of government cannot be over-emphasised. He said IT is a critical sector and the flagship of other professions, and one that is viewed seriously in the course of the nation’s drive for sustainable national developments.   Mustapha said the establishment of CPN is government’s way of demonstrating its commitment to the development and deployment of IT in Nigeria. He expressed the confidence that the Council would keep aligning itself to the Federal Government developmental goals, especially in Science, technology and innovations.

    In his opening remarks/welcome speech, the President/Chairman-in-Council, Prof. Charles Uwadia said that this year’s 2018 of the IT Professionals’ Assembly was special in many regards.

    Firstly, it was the first since his election into office at the 23rd AGM.

    Secondly, he said the Assembly coincided with the 25th Anniversary of the establishment of the Council. The President/Chairman-in-Council said the choice of the theme for this Assembly, therefore involved an assessment of the progress that IT practice has made in the past 25 years in the country, where the country presently is regarding bridging the digital divide and deploring IT for our common good as a people, and also foraying and projecting into the future, regarding the boundless opportunities that our profession, IT practice portends for our dear nation, and her future.

  • With AD, economic development is assured, says Akintola

    The governorship candidate of the Alliance for Democracy (AD) in Osun State, Mr. Olugbenga Akintola, has promised to reverse the economic status of the state and ensure speedy development, if voted in the forthcoming election.

    In a statement yesterday in Osogbo, the state capital, Akintola said his goal is to ensure that Osun State fulfils its obligations towards its people without incurring debts while it creates a capable workforce for industrialisation.

    The statement reads: “Let them hear the gospel of our rebuilding agenda of economic development and human capital investment. Remind them that it is only our party that has the record of putting people’s needs at heart.

    “Collectively, we have begun a journey to the house that our party built in Oke-Fia. From the tributaries of Osun River to Ikirun Hills and from Ikoyi Mountain to Erin-Ijesa Waterfalls, our efforts will be crowned with success.

    “The work has begun from this moment and it is our collective responsibility to do the work. Let us join hands to strengthen our party. “Never since 2003 has our chance been greater to win the governorship elections in this state. Please, let us set aside differences in the interest of the peaceful citizens in Osun State.

    “I humbly offer a branch of an olive tree to all our members to let us work together in the interest of peace and for victory of our party.

    “Be assured that AD is alive and we are determined to work for victory on September 22. We have taken the first step of a long journey. Please go out from Odo-Otin (in Osun North) to Ife North (in Osun South) and from Ayedire (in Osun West) to Oriade (in Osun East) to let the people of Osun know that AD is alive.

    “Spread the word to the people that, with AD, economic development is assured for our beloved state. Let them hear of our vision of an Osun State that is capable of creating wealth for its people in good health.”

     

  • Economic development: Fed Govt, LCCI to deepen partnership

    The Federal Government said it would deepen its relationship with the Lagos Chamber of Commerce and Industry (LCCI) to boost the national economy.

    The Minister of Science and Technology, Dr. Ogbonnaya Onu, made this known in Abuja when he received the Chamber’s representatives in his office.

    According to him, the aim of such collaboration was to strengthen Private-Public Partnership (PPP) towards national development.

    “Ministry of Science and Technology is at the centre of all economic activities and partnering  the Chamber of Commerce is a right step the country is taking.

    “The ministry is not only looking for foreign investors, but also local investors and partners that will lead the way for the foreign investors as the country is looking into various areas of technologies.

    “We want the Chamber to come in and take advantage of the work that we have done, to complete our research activities and come up with a product that we can develop further to put in the market. We are willing to give this to you as we want Nigerian firms to take advantage of this,” Onu said.

    The minster said LCCI was notnew to science and technology, adding that it had been in existing for 130 years and had been a part of every technology in the country.

    Chairman of Construction and Engineering Group of the LCCI, Mr. Leye Kupoluyi, who led the team, said the chamber had been at the forefront of technologies in Nigeria.

    He, therefore, appealed to the minister to further work with the chamber to advance technology growth.

  • NCC: Digital transformation key to economic development

    The Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof Umar  Danbatta, has stressed the importance of digital transformation in acheiving economic development.

    Danbatta, who spoke at a panel session of the just concluded 2018 World Mobile Congress in Barcelona, Spain, however, urged the global policymakers in the telecoms industry to ensure not only renewed thinking in the development of policy frameworks but also promote innovation and investment in the sector.

    “In Nigeria, we are trying to digitally transform and the process is on-going as I am talking to you. Hence we’ve been paying attention to five interdependent elements of the digital transformation processes: enabling policies and institutions, human capital, applied ICT industry, communications infrastructure ICT applications and institutional change,” he said.

    Danbatta said the strategic vision plan he unveiled two years ago in form of 8-Point Agenda has so far made a significant impact on the growth of telecoms sector in Nigeria.