The Nation Newspaper

Tag: Education

  • ‘Education key to national development’

    Child Education is the key to the future of a secure Nigeria, an expert has said.

    With Nigeria’s  youthful population,  educational security is necessary to drive societal growth, just as in developed countries where pupils are taught skills in class as well as 21st Century skills such as communication technology; music; sports; extra-curricular activities and all that will give them a sound mind.

    To ensure that every child is educationally secure, she said “we need to improve our economy and move away from being a consuming country to being a productive one.”

    This is the view of Mr Damian Oyibo, who is the National Programme Officer for the Centre for National Security, Olusegun Obasanjo Presidential Library. He spoke during the 3rd valedictory session of De Dynamic College, Ota, in Ogun State, where he represented the guest speaker, Prof. Peter Okebukola.

    He praised De Dynamic College and the commitment of the school management, whose outcome is seen in the students’ presentations and the way they spoke; the ambience of the school and facilities therein.

    According to him, no developing country removes its subsidy on education. Countries that adhere to these rules always have a form of support system so that those who are intelligent but cannot afford to go to school for various reasons can still get good education.

    He, however, added that people shy away from private schools because good education is costly. But then, that is why scholarships exist. It is the duty of multi-national companies making money from Nigeria and its citizens to put in place scholarship funds for a good number of students. That way, they are investing in the society they are making money from and saving the society from crumbling.

    The expert urged public schools to take a cue from the private sector, saying stakeholders in the industry should be responsible to government so that vote for government schools is increased and officials responsible for them held accountable.

    “There should be an education tax, whereby a percentage of it is voted for education. If these are adhered to, there will be a balance between public and private schools. If the system continues like this, then we are sure that the money that goes into education will be used judiciously.

    “The beauty of these policies has been tried in other parts of the world and are working. These policies are good but the operators are the ones the parents and the society should hold accountable. If we have agreed that such should be done, we have to put our feet down and ensure that tax and value added tax (VAT) to such effect is remitted and those who err in doing so should be punished,” Oyibo said.

    Executive Director of De Dynamic Group of Schools, Alhaja Aramide Bello said the graduates are prepared for the world after their six-year grooming, to respect the views and feelings of others, think for themselves and be good citizens.

    She urged them to be good ambassadors of the school and their country wherever they go, having developed their minds to be independent, confident and be able to compete with the best in other parts of the world.

    Oyibo advised school owners to see their schools as a means of social service and not for profit-making so that indigent students can still enjoy the benefits of education and parents who keep their children out of school should be imprisoned.

  • Education College programmes accredited

    It was all jubilation at the Federal College of Education (FCE) in Eha-Amufu, Enugu State, when the result of the National Commission for Colleges of Education (NCCE) accreditation was released. Seventeen of the 20 programmes offered by the college were accredited.

    The NCCE Executive Secretary, Prof Monday Joshua, praised the college management for the improved facilities and establishment of a radio station. Joshua said the college had outstanding results.

    The accreditation result was contained in a report signed by the NCCE’s Acting Director of Academic

    Programmes, Mr V.I. Uji, on behalf of the commission’s Executive Secretary.

    Breaking the news to the college community during a congregational assembly, the Provost, Prof Benjamin Mbah, said three programmes also got interim accreditation. He said full accreditation status would allow the college to run the programmes for five years, adding that courses which got interim accreditation would not be stopped.

    Prof Mbah said: “Courses that attained interim accreditation can continue to run, but the deficiencies noted must be addressed within nine months for re-accreditation.”

    The provost said the management would leave no stone unturned in ensuring that all its courses attained full accreditation. He praised the college team led by Mr John Nebo, which met with the NCCE team for the assessment.

    Mbah added: “I am excited by the result of the accreditation. We commend our team for putting up great efforts to actualise our collective dream of putting the college on solid foundation. We will do everything possible to get all the programmes full accreditation.”

    The Registrar, Mrs Celine Nebedum, extolled the virtue of Prof Mbah, while praising the Deans of faculties and others principal officers of the school for the achievement. She urged Heads of Departments and Academic Board to maintain the standard, advising that the college must not be carried away by the outcome of the accreditation.

     

  • Experts call for soft skills training in education

    Students of the Faculty of Business Administration, University of Lagos (UNILAG), are better equipped for the labour market, thanks to a two-day soft skills seminar sponsored by Exxon Mobil.

    The students were exposed to the etiquettes of the work place, interview expectations, dress sense, language, character, among others during the programme organised by an NGO, Foundation for Leadership and Educational Development (FLED) and J. Soji George Consulting firm, at the UNILAG Guest House Hall.

    Executive director of FLED, Mr Joseph Ibekwe, said the seminar, which was for final year first class candidates of the faculty, was advantageous to graduates in their pursuits for success or good career.

    He said: “The most important thing about this seminar is social, leadership and personal comportment skills – how to carry yourself appropriately in the public space, even dress sense, how to address people properly, appearing for an interview, etc. In real life, three things help people succeed. They are technical skills acquired from school, soft skills and relational skills. If your soft and relational skills are lacking, it will be difficult for your technical skills to speak for you. Being first class students is just half way to their success.”

    Sub dean of the faculty, Dr Oluwakemi Adewumi, who trained the students in dressing and general etiquette, said the seminar was aimed at filling the gap between what industries are looking for and the kinds of graduates produced.

    She said: “Over time, we have discovered that there is a gap between what industries are looking for and what we are giving them. We identify that students need to be trained on those intangible things that you do not see and they matter. First impression matters and you might never have that opportunity to make another impression so they must know what is required of them if they are going for various kinds of interviews- formal or informal.”

    Dr Adewumi lauded Nigerian students for their innate morality and politeness but noted that it was not enough in today’s corporate world.

    Senior lecturer in the faculty, Dr Olusoji George said soft skills training was an important part of education that gave youths who study abroad an edge over Nigerian students in the labour market.

    “In my years abroad, we teach the students soft skills. When I came to UNILAG, I noticed there is no room for soft skills. Having a first class does not guarantee a person a job. You must know how to behave and act, among others. UNILAG tuition fee is just N15, 000, so it is obvious that many of the parents cannot afford to send their children abroad where they can learn soft skills. As a recruitment personnel, I have never recruited a single homemade graduate. The worst we have seen is people doing their first degree here and their masters abroad. So instead of travelling out at such exorbitant rates, we are looking forward to other companies to facilitate trainings like this in Nigeria,” he said.

    One of the participants, Samuel Enwezor, said: “I have learnt that some of the basic things that we think don’t count in the business world, actually count, like sitting posture, dressing, comportment, etc. As a result of this great programme, I see myself improving on my general day to day life.”

    Adeniyi Aderinsoye also noted that he will work on his language, table manners and office etiquette.

     

  • Utomi urges UNN alumni to lift education

    Founder and Chief Executive Officer, Centre for Values in Leadership, Prof Pat Utomi, has urged University of Nigeria Alumni Association (UNAA) to lift the standard of education in the country.

    He spoke at a dinner organised by the Lagos State branch of the association.

    Utomi urged members of the association to help rejig the system.

    He said education is important because it offers a way out of poverty; but cannot achieve that if the institution is left in chaos.

    “We all have a duty/obligation in rebuilding the fallen walls of Nigerian universities and their alumni have very critical role to play in building our country. We must make efforts to rebuild education in Nigeria,” he said, recalling the 60s when the quality of higher education in Nigeria was as good as in other parts of the world.

    The dinner offered the alumni the opportunity to come together and exchange views on how to develop their alma mater.

    Lagos State chapter of UNAA President, Mike Okoye, urged the alumni to be committed to building a better university system in the country.

    He said universities progress because of collective decision of key stakeholders to change.

    “Our collective decision to change can be a great first step towards building a University of Nigeria that generations after us can be proud of.

    “We have great hope that we are better than where we are today.  All universities that are being celebrated today were all built and sustained through the commitment and goodwill of alumni members”, he added

    He said the state branch would continue to support UNN, adding that the branch has provided about 100 computers to the university library.  He said the renovation of the Post- Graduate School was next on the list.

    He urged the Federal Government to see funding of universities as a priority.

     

  • Education: Cure for Poverty

    Education: Cure for Poverty

    In a country of half paralyzed economy system, we can say education is basically the closest, cure for poverty in the world today, it plays a key role in helping eradicating poverty, as a result of the poor quality of education, it has happened that the level of poverty increases, people are more focused on needs and also forget the long term benefits of education.

    Education makes it more difficult for men and women not to be employed, but could be of better advantage, if you hold a good job that is more secure, privilege of good  working conditions and also decent pay that’s the power of education. Education would not only help you cure poverty, but also guard you from poverty.

    High level of education helps you stand less risk of poverty than a less educated person. Which is true in the world today, but it is quite surprising also that not all the successful people of the world today are graduates or even have a taste of education but that does not dispute the importance of education some might even regret it because education gives you edge and balance.

    An educated person would pay attention to everything because he or she might later make sense of it and wouldn’t just act without reasoning. Education keeps you from being trapped because you’d be able to reason logically, you won’t just believe something without reasoning, you certainly need to get educated.

    A great job, a good social reputation are few of the many benefits of being an educated person. Education is a must for a promising and secure future. An educated person has more chances for survival in today’s world. The more educated you are, the better the career options you have. Not only is education important in reducing poverty, the role of education in poverty, is crucial. No country of the world has or would succeed if it has not educated its people, Education is important for the fight against poverty.

    In the societies of today, even the poorest parents wish to invest all they have in children’s education and doing this they believe that the investment would sow good seed, even if they have suffered they still believe in the future of their children. Looking at the situation on ground that’s enough motivation for the children to get good education.  On the long run they would also see the bigger picture on the importance education and how it would help eradicate poverty and also the opportunities that comes after completed education; this would also help prevent the transfer of poverty between generations.

    Education and has contributed to the societies of today it gets you exposed and has also made almost everything accessible. The effect of education is strong.it is advised we get education to some level and this might at list reduce the rate of poverty and make people suffer less. At least if we all have a secondary education, it would reduce the rate, sometimes it is not about formal education there’s need for sex education, parents should at least train or educate their children on sex education, educating the female child can help control birth rate. Some families are larger than expected and suffering.

    A number of school aged children these days are not even in school why? It’s because provisions are not even made for them. Lack of birth control could never be ruled out, teenage pregnancies increases and then this should not be so, education can contribute to reducing poverty.it is important to acquire basic education at least.

    Take a look at those in paid formal employment they earn higher wages because of the level of education, it has become a necessity and a force contributing to the elimination of poverty in a sustainable way, It is therefore important to invest in education that provides children and youth with relevance in the society.

  • Sukuk and Aregbesola’s education story

    Osun State raised a sukuk bond worth N10 billion (some $62 million) from the capital market to fund educational development – the first of such by Africa’s biggest economy. Governor Aregbesola is aware that Islamic financial instruments such as sukuk have been used to finance infrastructure projects in countries like Malaysia and Indonesia, and in the Middle East, and could attract investors from such countries. The governor knows that Islamic finance requires a clear link with real economic activity and transactions have to relate to a tangible, identifiable asset, which comes in handy in the case of infrastructure financing.

    After the recent trend of Eurobond issuance by African countries, the Osun’s offering was sowing the seeds for more African sukuk.  Prior to Osun, only Gambia and Sudan had issued local-currency short-term domestic notes (Sudan sold local currency sukuk worth $160 million in 2012).

    Aregbesola had worked hard to introduce a sustainable framework, including training quality staff destined for Islamic finance industry. “The huge demand for Islamic finance products had prompted the Osun government to introduce new bond laws with provisions to establish Sharia-compliant bonds. Aregbesola believes that the potential of Islamic finance can also attract investors, operating in Middle East market to come and invest in Osun. By introducing Islamic bonds in finance market, Osun will be favorably positioned to become a hub of resilient and robust Islamic finance in Africa.

    In March 2013, the Securities and Exchange Commission (SEC) approved new guidelines for the issuance of sukuk bonds to Osun State only months after new guidelines were also approved for the operation of takaful (Islamic insurance). A local credit ratings agency, Agusto and Co, was given the note – to be listed on the Nigerian Stock Exchange – an A rating. The seven-year bond was issued through “a book-building process,” which would earn returns for sukuk holders through a semi-annually paid rent structure called the Ijara.

    The funds were used to finance construction of education projects, among other development initiatives with which Governor Aregbesola hopes to lay a solid foundation for the future of the state. Eleven High Schools with a total of 720 classrooms are at various stages of completion across the state. Two other High Schools are proposed for construction in Osogbo to accommodate the total population of high school students in Osogbo metropolis. There are 11 schools in all to be financed by the sukuk bond.  The bond is exclusively for high school development.

    The High Schools are: Wole Soyinka High School, Ejigbo, Ataoja High School, Osogbo, Fakunle Unity High School, Osogbo, Oduduwa High School, Ile Ife, Ila High School, Ila-Orangun, Adventist High School, Ede, Iwo High School, Iwo, Akinorun High School, Ikirun and  Ayedaade High School, Ikire.

    The planned seven-year paper would be the first sukuk bond to be issued by Africa’s largest economy. Aregbesola’s story is that Osun State was pioneering the alternative and less burdensome financial service in Nigeria. Ìcun State’s planned multibillion naira sukuk fund for education represents Nigeria’s most innovative and ambitious attempt thus far to promote Islamic finance. The move came within the context of ongoing efforts to attract Middle East investors and consolidate Nigeria’s latest foray into alternative financial services. It is a very commendable step in our drive to buy into alternative financial services, which will in turn attract investors from the Islamic world and Asia.

    Aregbesola believes that globally, the sukuk market has experienced tremendous growth. Though sukuk market issuances declined in 2008 as a result of global market turmoil, long-term prospects for the sukuk market remain strong.  Global sukuk outstanding rose to more than USD231.4 billion at the end-2012.

    This decade has witnessed the accelerated development of the global sukuk market. The global sukuk market which has now reached USD$270 billion outstanding is evolving to become a distinct platform for fostering greater international economic and financial linkages. The success of the sukuk market reflects its ability to meet the changing and differentiated demands of the modern economy, to develop innovative and cutting edge structures and products, and to achieve such issuances at competitive pricing.

    Aregbesola has exposed Nigeria to the sukuk market which has drawn increasing interest from sovereigns, multilateral institutions, multinational and national corporations both from developed and emerging economies to finance investments in a wide range of economic activities and development projects. The geographical reach of the sukuk market has also become more extensive, with the global sukuk outstanding now being domiciled in more than 20 countries, while the investor base that spans from Asia, the Middle East and Europe.

    There is clear indication of the growing relevance and importance of the sukuk market in Osun State, with the growing interest from both emerging and developed jurisdictions and the strategic approaches taken to diversify the funding sources through the sukuk market by Governor Rauf Aregbesola.  The overall direction and potential of the global sukuk market are certainly well recognised, particularly in its role in contributing towards greater economic development of Osun State. There is significant potential for the sukuk, in particular to fund infrastructure projects. This is particularly relevant for the Osun State and African region given the infrastructure needs going forward. This would contribute towards building deeper and more liquid, efficient and effective global sukuk market. The dynamism of the sukuk market also contributes towards strengthening financial stability and in facilitating the expansion of inter-regional investment flows. As we move towards increasing this internationalisation of Islamic finance, and thus towards greater global financial integration, it will contribute towards a global growth process and financial stability that will be mutually reinforcing.

    When Governor Aregbesola adopted Sukuk, an Islamic bond to help the state execute it projects, his critics were calling for his head. Many said it was part of his ploy to islamize Osun. Not quite long, the government of United Kingdom also stated its resolve to obtain Islamic bond, Sukuk to execute government projects.

    With this calibre of governments following suit to obtain Sukuk, it is now crystal clear that Aregbesola is not just a leader, but a leader that set positive pace globally.

     

    • Donald, a public affairs analyst writes from Benin City.

  • Confusion over status of education varsity

    The College of Education in Ekiadolor, Edo State was upgraded to a university in 2014.  The workers’ joy over the exercise has turned to confusion as they do not know if they have a future in the new Tayo Akpata University of Education, OSAGIE OTABOR reports.

    WHEN members of Edo State House of Assembly upgraded the College of Education, Ekiadolor into a university two years ago, the workers were happy.

    They looked forward to a boost in their welfare since they would automatically enjoin the university salary scale as members of the Academic Staff Union of Universities (ASUU).

    In March 2014, the executive bill for the establishment of University of Education, Ekiadolor and the University of Science and Technology, which later became Edo University, Iyamho, was passed into law.

    Two years later, the Edo University, equipped with state-of-the-art facilities,  took off. It began its 2015/2016 academic session with 91 pioneer students who took their matriculation oath on June 12; while the process of securing accreditation for the Tayo Akpata University of Education is still on.

    Prof Amen Uhunmwangho, the provost of the college, had hoped that the National Universities Commission (NUC) would issue  the proposed university a licence before his tenure ended. This was not  to be. Last April,  Prof SEO Aduwa Ojiegbaen was appointed the university’s Vice Chancellor.

    Governor Adams Oshiomhole also appointed the former Speaker, Edo State House of Assembly, Thomas Okosun, as the Pro-Chancellor. In May, a former Vice Chancellor of the Ambrose Alli University, Prof. Dennis Agbonlahor, was named Chairman of the institution’s Evaluation Committee.

    Oshiomhole’s expectation from the university of education is to produce quality teachers for primary and secondary schools.  He called on the institution to de-emphasise the three-year National Certificate of Education (NCE) programme and pay greater attention to the degree programme.  He also underscored the need for academics to obtain the Ph.D, which is the minimum requirement for teaching in a university.

    “We will need to have a further interaction on that whether we shouldn’t scale down on the numbers for NCE.  From my interaction with NUC, now I know that as a senior lecturer, you must have a Ph.D. So, we are going to move away from where a master’s degree holder is teaching in Tayo Akpata University if he doesn’t have a Ph.D, he will just be a Graduate Assistant because the whole idea is that the people who pass through here must be qualitatively different from NCE holders. So that when we post them to our schools, we are sure that they are in a position to impart knowledge to our students and we should be able to measure the output, from the performance of our students in external exams like West African Examination Council (WAEC) or National Examination Council (NECO) and Joint Administrations and Matriculation Board (JAMB), etc.

    “Because the quality of teachers is important, my view is that to teach in our secondary schools: junior and senior secondary schools, we must have Bachelor of Education (B.ED) so that the students will be in very good hands,” said Oshiomhole while receiving the report of the evaluation committee.

    However, the workers are uneasy over how long it is taking the college to transform into a university.  They are concerned about meeting the requirements when jobs into the university are advertised. They don’t know whether they are staff of the new university or the old college of education. The college has stopped admitting fresh students into the NCE programme. The workers last received salaries in March because of what they termed the school’s inability to access monthly subvention.

    The workers have vowed to go to the Edo University at Iyamho, in Etsako West Local Government Area to protest against their perceived  marginalisation by the state government.

    Chairman, College of Education Academic Staff Union (COEASU) Comrade Fred Omonuwa wondered why the education university is having problems, while the one at Iyamho has taken off effortlessly.

    Omonuwa said: “We may be forced to move to Iyamho to protest at the gate of Edo University. As we speak now, we can’t admit new students as College of Education nor as Tayo Akpata University. There is a stalemate presently at Tayo Akpata University over identity question and paucity of fund to the university.

    “All the hue and cry about Tayo Akpata University is for political reasons to make sure that the Edo University, Iyamho, has a smooth sail. From all indications, the law from the Edo State House of Assembly has repealed the College of Education, Ekiadolor, but the worst of all is that there is no money as subvention to the new university. We don’t have license to operate, we are not receiving salary and to even talk of clearing overgrown grasses is a problem.

    “The problem is where the Internally Generated Revenue (IGR) to supplement government subvention is. I can tell that there is subvention lying down but there is no IGR to pay, we have not received salary for three months. And we are aware that workers at the Edo University Iyamho are receiving salaries.

    “We are disappointed that in a transition like this, our expectation is that the government should be able to bring about 100 percent subvention to pay the workers. We are even talking about salaries don’t forget there is a backlog of other arrears in terms of cooperative funds and gratuities running into several millions as well as promotion arrears because in a transition you must inherit both assets and liabilities.

    “The Edo Univeristy at Iyamho has started and there is nothing on ground to show that the Tayo Akpata University is about to take off; of course we may want to say that the governor the other day appointed a Vice Chancellor and equally inaugurated a Governing Council for the so-called university but there must be things on ground to show that the university is taking place. While the Edo Univeristy at Iyamho has license to operate, the so-called Tayo Akpata University does not have a license to operate; the governing council of Tayo Akpata is supposed to go for the procurement of license but that was not what happened with that of Iyamho. At Iyamho, the government got the licence, why is the reverse the case here?”

    Omonuwa said the union members were yet to meet with the university council to know their fate.

    He said the right thing was for the council to allow lecturers time to upgrade their qualifications and that what further fuelled their confusion was the appointment of a Deputy Provost, Dr. C. I. Aghimien.

    “Which school is he going to function if they said the College no longer exist? We are confused. We have facilities whether it will meet the NUC accreditation is another matter.”

    Okosun said the college would be phased out in two years to enable students in years two and three complete their studies.

    The university, he said, would begin admission of new students in November and would co-exist with the college until the old students have graduated.

    “The institution is in transit. To protect the interest of students already in years two and three, we have to allow them graduate. Any new student will enter as Tayo Akpata University.

    “You know we need professors in a university. There is no professor there. We are going to advertise and many of the staff cannot be part of the university. Those already working are free to apply and we will employ them if they are qualified.

    “They are not staff of the Tayo Akpata University, so we don’t owe any body salaries. The state government will decide what to do with those that failed to gain employment into the university,” he said.

    Okosun said the university would meet the accreditation requirements.

    A lecturer in the Department of Psychology, Mr. Godwin Igbinoba, faulted Okosun’s claim about the workers not being part of the university.

    He accused the institution’s governing council of not implementing the Dennis Agbonlahor Committee report.

    He said the report settles everything about the institution by recommending that 120 lecturers as qualified to be absorbed into the university with a proviso that they their credentials.

    Igbinoba said the report recommended that lecturers with Masters should be given five years to obtain their doctorate while those with first degree be given three years to do their Masters.

    The lecturer also said the Agbonlahor Committee verified the certificates of the workers and said 120 lecturers were qualified.

    “It will be the biggest joke of the century for them to say we are not staff of the new university. The governing council and the commissioner do not know what is happening. We are ready to take them up.

    “We were engaged as staff of the College of Education. If they said we are members of the old order, then they are double speaking. The report of that committee is not being followed. I have a copy at home. The report settled many things. Some lecturers were recommended to be taken to other colleges,” he said.

     

  • Vitafoam MD blames govt for poor STEM education

    Group Managing Director (GMD) of Vitafoam Nigeria Plc, Mr Taiwo Adeniyi, has blamed the government for the backward state of science and technology education in Nigeria.

    Adeniyi, who spoke on the topic: “Synergy in Science: A tool for National Development” at the annual lecture of the Faculty of Science, University of Lagos, accused the government of playing politics with education, a situation he said was responsible for Nigeria’s underdevelopment.

    The trained Chemist said: “The environment for learning is not conducive. However, the external factor, which is the government, is to blame. We have no vision for the education sector. Our leaders think universities should just be there to keep children so they would not be nuisances.  In the final analysis, the problem is that education is now a political process. ”

    Adeniyi shared his personal experience of how the low capacity in science and technology education robbed the country of foreign investment after his education at UNILAG.

    He said: “We were contacted by a company based in Switzerland to supply 1kg of a substance that is extracted from our popular “eweiran-moinmoin leaf” at a cost of $10,000.  The fruit is only available in the west coast of Africa. As at that time the only university having a freeze dryer was UNILAG chemistry department; we were very enthusiastic as young graduates working under the supervision of then Operations Director of the company-Dr Soremekun who is now part of the UNILAG community.

    “We were never able to supply the 1kg requested because the freeze-dryer kept breaking down. Today the Swiss company has acquired large expanse of land in a neighboring country for plantation and they fly in freezers from time to time to take away the fruits. Very sad.”

    Adeniyi said Nigeria cannot hope to meet up with developed countries if it does not invest in Science and Technology education.

    “In a nutshell, developing countries cannot hope to prosper in an increasingly competitive global economy and open trading system if they do not build the appropriate science and technology capacity to produce more value-added goods and services.  In fact, I can confidently say that S&T is the dividing line of humanity between developed nations and those less developed,” he said.

  • Education, health dominate Badagry town hall meeting

    Education, health dominate Badagry town hall meeting

    Governor Ambode has held the second quarter of this year’s town hall meeting at Muslim Community Playground, General Hospital Road Badagry Lagos where he reeled off his achievements in the first quarter and intimated the people about his plans to make their lives better. WALE AJETUNMOBI reports

    Lagos State Governor Akinwunmi Ambode was in Badagry for the fourth in the series of the quarterly town hall meeting where he reiterated his administration’s commitment to an inclusive government.

    The town hall meeting, which had previously held in Iyana-Ipaja (Lagos West), City Hall (Lagos Central), and Ikorodu (Lagos East), took place at the Muslim Community Praying Ground in Badagry, where the Governor, for the first time in the history of the meeting, spent more than four hours interacting with various groups and individuals, including corporate organisations, religious leaders, youths, physically challenged, market men and women, non-governmental organisations (NGOs), political leaders and the general public.

    The Badagry town hall meeting was organised in a unique manner where Governor Ambode met with all the groups in four different sessions, as against the previous meetings where he met with all the groups at once. The format not only afforded the Governor the opportunity to interact with many groups, it also served as a platform that provided instantaneous answers to pressing needs by Lagosians.

    Reeling off his achievements in the last quarter, Governor Ambode revealed said his administration is committed to make life comfortable for the people, saying his administration had procured and donated additional equipment to security agencies. Such agencies included the Nigerian Police Force, Customs, Immigration Services, the Army, Air Force, Navy, Directorate of State Security (DSS), AIG Zone 2, Civil Defence Corps, Federal Road Safety Corps, Lagos State Traffic Management Authority, National Drug Law Enforcement Agency, Lagos State Task Force and the Nigeria Prison Services.

    He said the government also inaugurated the Lagos State Emergency Management Authority (LASEMA) Rescue Unit facility with a specially designed dispatch centre to respond to emergency cases.

    On infrastructure, Governor Ambode recalled that within the quarter under review, a memorandum of understanding (MoU) for the construction of the 38km Fourth Mainland Bridge was signed and it’s expected that the bridge which will connect Ikorodu with Ajah, will be executed through a Public Private Partnership (PPP) arrangement and would be delivered within the next three years.

    Ambode said: “The Iyana-Oworo Bus Park project embarked upon by our administration to decongest traffic on the Third Mainland Bridge is nearing completion.

    “Work has commenced on the modern Oshodi Interchange in line with our vision to transform Oshodi into a world-class transport hub. Several road projects were completed in the last quarter while others are at various stages of completion.

    “Significant among the projects include Ajara/Agelasho/Poka/Erekiti Road in Badagry Local Government Area, construction of Aradagun-Iworo Ajido Phase I Bridge in Badagry Local Government Area, the construction of flyover at Ajah roundabout along the Lekki Expressway and Abule-Egba Junction along Lagos-Abeokuta Expressway and construction of pedestrian bridge at Ojodu-Berger.”

    The Governor also said the Oko-Oba Housing Scheme comprising a total of 108 units located on a land area of 15, 785.632 sq m was completed and offered for sale, while the government has also commenced the process of completing the Ibereko Housing project in Badagry.

    On job creation, the Governor said government has signed an MoU for the Lagos Smart City with the operators of the Dubai Smart City, while the agreement is expected to bring multi-billion dollar investments to the state, create employment opportunities and transform the Ibeju-Lekki axis and the entire Lagos State.

    He also revealed that another MoU was signed for the Lagos State Medical Park, adding that the initiative would bring more investment which, in turn, will create jobs and make Lagos a destination for medical tourism.

    In the area of social welfare and rule of law, the Governor said in line with provisions of Section 12 of the Special People’s Law, his administration launched the Lagos State Persons Living with Disability Fund with N500 million.

    He further said that in response to the disturbing menace of land grabbing, his administration set up a Special Task Force to curb the excesses of land grabbers under the office of the Attorney- General and Commissioner for Justice. He also said government is committed to its zero- tolerance for issues relating to domestic violence and child abuse.

    He said his administration has concluded plans to revamp the health sector. To achieve this, he said, the sum of N10 billion has been earmarked to upgrade health facilities across the state.

    Governor Ambode assured that government would invest massively in capacity building of the medical staff, in a bid to provide world-class health care for the citizens.

    “We have commenced action on the rehabilitation and upgrading of facilities in all our hospitals. Modern equipment will be procured to facilitate treatment and we will invest in capacity building of our medical staff. We intend to spend over N10 billion on our hospitals before December this year.

    “We will recruit and train medical professionals in areas of rare specialisation and special needs,” Ambode said.

    On 2016 Budget, Governor Ambode said its overall performance stood at 70 per cent, which according to him, was an improvement over last year’s when the performance stood at 63 per cent.

    He said: “Revenue recorded 73% performance for the half-year 2016 despite the challenging economic environment. Your Government spent a total of N115.624 billion on capital projects during the half-year 2016, leading to the capital/recurrent ratio of 50:50 with the plan to improve the ratio to 58:42 provided for in 2016 Appropriation Law in the remaining half of the year.”

    Governor Ambode said the Employment Trust Fund would commence disbursement of funds to various artisans, entrepreneurs and unemployed youths to make life better for all.

    For instance, on education, the Governor said his administration would establish a Technical and Vocational School in Badagry before September this year, while government would also embark on upgrade of the infrastructure in all public schools beginning from this month.

    He said: “All our primary and secondary schools will be upgraded to create environment conducive to teaching and learning teachers and students. Another N10 billion has been earmarked for this facelift of our secondary and primary schools.”

    Governor Ambode pledged his administration’s readiness to pay greater attention to the elderly persons, by establishing three elderly care centres.

    “We will sponsor bills to the House of Assembly which will seek to make specific provisions for the elderly in our society and create a framework for care for the aged. Our priority is to commence the provision of three elderly care centres across the three Senatorial Zones. We urge the private sector to support and collaborate with government on this cause,” he said.

    While responding to some questions on neglect of Badagry over the years, the Governor revealed his plans to revive the tourism potential of Badagry, saying the long-term plan includes the establishment of university of hospitality in the ancient town.

    He also said his administration would build the economy of the state beyond oil, adding that “the future of Lagos is about tourism and services.”

    The governor said aside the N500 million disability funds which aimed at advancing the cause of persons living with disabilities, his administration would decentralise the Lagos State Office of Disability (LASODA) and absolve 200 physically-challenged persons to manage their affairs in all the local government areas (LGAs) and local council development areas (LCDAs).

    “I implore you to take ownership of all government properties located in your area because they are our common wealth. Remember to pay your taxes as and when due in order to enjoy more dividends of democracy.

    “On our part, we will continue to ensure judicious use of resources of the state by executing projects that will outlive us and affirm our position as a Centre of Excellence,” Governor Ambode said.

     

  • Stockbrokers’ chief harps on investor’s education and training

    Stockbrokers’ chief harps on investor’s education and training

    Chartered Institute of Stockbrokers (CIS) President, Mr. Oluwaseyi Abe, at the weekend stressed the importance of investor education and acquisition of relevant skills as part of the catalysts for the development of the Nigerian capital market.

    Abe, who led the council of the CIS on a courtesy visit to the Nigerian Stock Exchange (NSE) at the weekend in Lagos, said investor education has become more compelling as new products are being introduced into the, noting that the more investors understand the benefits and risks of investment in the capital market, the better for the long-term sustainable development of the market.

    He said the CIS places premium on the need to intensify efforts aimed at creating more awareness on the relevance of the market to all categories of existing and potential investors.

    He pointed out that while the market seemed gloomy at the present, there is hope that it would bounce back.

    He noted that other exchanges such as National Association of Securities Dealers (NASD), FMDQ Plc and Abuja Commodities Exchange have created alternative platforms for stockbrokers to practice, adding that the new trend in the financial market required additional skills on the part of stockbrokers.

    He assured the NSE of continued collaboration of the institute in order to build a strong and virile capital market in Nigeria.

    He urged the stockbrokers to work very closely with the CIS for enhanced professional development in view of the expanding nature of capital market operations, noting that the institute’s Continued Professional Development (CPD) programme had been expanded to bridge the skill gaps and position the stockbrokers to key into emerging opportunities.

    While pointing out that capital market regulators and operators had always worked on the same goal of market development, Abe said collaborative efforts have become more compelling in view of the challenges of globalisation.

    He reiterated that the CIS would always be prepared to partner individuals and institutions that share common values on the growth and development of the capital market.