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  • Bol, firm partner on entrepreneurial training, funding

    Bol, firm partner on entrepreneurial training, funding

    •Equip youths, others for export market on precious stone

    The Bank of Industry (Bol) is collaborating with Laurel School of Mines (LSM) to produce gem stones for export.

    At the signing of a Memorandum of Understanding (MoU) between BoI and LSM in Lagos on Monday, BoI’s Acting Managing Director Mr. Waheed Olagunju said that the partnership would facilitate entrepreneurship and employment in the solid minerals sector.

    He said the collaboration was the boldest initiative the Development Finance Institution (DFI) has taken so far in the solid minerals space in the country.

    Olagunju said: “We have lots of agricultural resources, solid minerals and oil, but solid minerals are the lowest hanging fruits. With gem stones, you do not have to wait like agriculture where you plant to harvest and process. We have gem stones where we can pick them up, add value and within few weeks make thousands of dollars.”

    According to him, the partnership is also coming on the heels of Nigeria’s quest to diversify its revenue base, saying that the gem stones industry is capable of earning the much needed foreign exchange for the Nigerian economy.

    ‘’The turnaround time is faster in precious stones, unlike what we have in agriculture or the petroleum sector. We are going to generate a lot of entrepreneurs in this sector. We will be training 1,600 in each location and 200 per location across the country spanning the six geo-political zones, including Lagos and Abuja.

    The BoI boss said that those who are trained and show signs of becoming potential entrepreneurs will be supported by the bank. “We will give them concessional facilities to enable them trade and export gem stones to earn foreign exchange, which would go a long way to help Nigeria diversify the economy while also earning foreign exchange for the country,” he added.

    Olagunju said there would be four batches of 50 each in the locations to ensure that the training is effective. He also stated that the training is expected to last for three days, adding that the course curricular of the training programme will include picking the gem stones, adding value and trading for export.

    On the versatility of the firm in partnership, the Bol boss said LSM is a global player and is currently operating in some parts of Africa successfully as well as in countries in Asia such as Sirilanka, Thailand, Mali and Senegal among others.

    “We are dealing with a reputable institution that is Nigerian and the MoU we are signing is also in sync with BoI’s operation strategy. We operate and collaborate with domestic and foreign development partners. LSM happens to be a domestic development partner in the private sector and the first in the solid minerals space,” he stated.

    Also, the Chief Executive Officer (CEO), Mr. Tope Adebanjo, said if Nigeria channels the required efforts towards gem stone development, the industry is capable of turning the fortunes of the economy around. He maintained that the industry has transformed many economies of the world.

    ‘’It is sad that foreigners are dominating the gem stone business and there are millions of unemployed youths in the country. The industry is a multi-billion dollar industry. We can make Lagos and Abuja another Las Vegas in Nigeria,” he said.

    According to him, Nigeria is tapping next to nothing in the global share index of the industry. He maintained that almost half of the total population of Thailand, which is about 60 million, engage directly and indirectly in gem stone production.

    He, however, listed factors affecting investment in gem stone development in Nigeria to include lack of capital, market, technology, mineral resource and entrepreneurs. He stressed the need to develop entrepreneurs in Nigeria to take advantage of the enterprising sector.

    “The training we are embarking on is about $277 per person for three days, which is less than $100 a day. Selection will be done diligently together with the BOI. Basically, the whole idea is to engage the youth to take over what belongs to them. Nigerians are intellectually sound, ready and willing to work, but the problem is who will lead them to work,” he said.

  • Lagos, firm in N85b waste mgt deal

    The Lagos State government has entered into agreement with a firm to manage domestic waste. The deal, which is a  public-private partnership (PPP) based contract, is worth N85 billion over the next five years.

    This was disclosed by the state’s commissioner for the environment, Dr. Babatunde Adejare in a chat with The Nation. Although he declined to name the investor cum contractor, the Commissioner however said the contractual agreement is part of an initiative to tackle waste management in the state, and as well tap into the wealth opportunities inherent in waste management.

    “Waste management is now big business. We are pulling out the PSP operators from domestic waste management in the state and they will now concentrate on the commercial waste management and collection which is more lucrative. The new contractor, a renowned international firm, will focus on domestic waste management, and will invest about N85 billion over the next five years,” Adejare said.   And as part of the new drive in this regard, the state will take delivery of 600 units of brand new Mercedez Benz waste compactor vehicles.

    Adejare said that waste management will continue to receive high priority in the state. And as a demonstration of the commitment to this, the state last month, evacuated waste on highways and other public places. He said that in this period, a total of 32,662.00 metric tons of waste was evacuated in the Central, Western and Eastern parts of Lagos; 196,197.00 metric tons of waste was deposited at various landfill sites of Olusosun,  Solous 111, Ewu-Elepe and Epe; Simpson and Agege Transfer Loading Stations evacuated 6,923 waste, while 216 marine waste was evacuated in 13 major water bodies locations in the state.

    Besides, he explained that advocacy and enlightenment on the PSP programme received a boost with waste and environment regeneration campaigns carried out in General Hospitals, Primary Health Care Centres and Private health Care Facilities, while 263 feedbacks came in form of complaints relating to service delivery and online bill reconciliation.

  • Firm unveils shrimp farm

    Atlantic Shrimpers Limited (ASL) has opened its state-of-the-art shrimp farm in Iworo-Ajido, a rural community in Badagry, Lagos.

    The shrimp farm, the first of its kind in sub-Saharan Africa, will boost Nigeria’s production capacity in the seafood market. It will hatch, nurture and process shrimps to serve Nigeria and the export market.

    Lagos State Governor Akinwumi Ambode, who was represented by the Commissioner for Agriculture, Mr. Oluwatoyin Suarau, noted that the call for investments in the agriculture sector had been answered by ASL.

    “The Nigerian Government is keen on supporting local investments in agriculture. We must start looking inwards and encourage development in areas where Nigeria has a competitive advantage.

    “ASL has led the way by building this impressive facility.  This farm will employ many Nigerians and will help the Nigerian economy generate foreign exchange when the products are exported. It will also go a long way to address food security.

    “ASL has addressed several needs in Nigeria through this state-of-the-art facility and Lagos is proud to play host to it,” Suarau said.

    Nigerian Export Promotion Council (NEPC) Executive Director, Mr. Olusegun Awolowo, who said ASL has been one of the country’s top 20 export companies in the last six years, noted that the investment would create jobs and grow the economy.

    “We have to replicate projects like this with the private sector.This is what we need, transformational projects that can drive Nigeria out of its recession.

    “We are, therefore, proud to be associated with Atlantic Shrimpers Limited in view of its commitment to non-oil export,” Awolowo said.

  • Firm woos teachers, pupils with cash incentive

    Firm woos teachers, pupils with cash incentive

    A huge reward awaits teachers and pupils, aged 13-22 who win medals in the 2017 Certiport Microsoft Office Specialist World Championship.

    Information Communication Technology (ICT) teachers have the task of preparing their pupils to enable them excel on the world stage between now and April.

    The prizes at stake, beyond the thousands of dollars they would get for the top three awards at the world championship in the United States, are N750,000 for the winner, and N250,000 for his/her teacher.

    Readmanna Ventures Ltd Chairman Bode Agusto, whose firm organises the national version of the competition, announced the prizes as a special incentive to pupils, teachers, and schools to get more youths to be certified users of the Microsoft Office software applications.

    Agusto, who called the special prizes the chairman’s awards, said the school with the highest number of pupils who get certified in the use of Microsoft Word, Excel and PowerPoint (2013 and 2016 versions), would get a trophy.

    Speaking while flagging off the 2017 National MOS Competition which would produce winners that would represent Nigeria in the world championship, Agusto said the country’s representatives would also enjoy educational excursions while in the United States.

    He said the incentives were part of efforts to ensure youths are computer literate by the end of their secondary school education.

    “Our vision is to ensure none of you will leave secondary school in Nigeria without being computer literate.  Therefore, our important mission is to certify as many of you as possible.  We also believe we must continue to provide incentives for teachers and students. I will award a set of chairman’s awards for teachers that produce winners in the world championship.  Teachers will get N250,000 while the student that comes back as a world champion will get N750,000.  So we have increased the stake significantly,” he said.

    Readmanna Ventures Chief Executive Officers (CEO), Mrs Edna Agusto, counselled teachers to start preparations early. She urged them to take advantage of training programmes organised by Readmanna and the online platform created for teachers to exchange ideas.

    “Teachers should master the software.  I invite all teachers to join our online communities.  TEhre are regular updates on the programme they would learn,” she said.

    She also advised them to help their students gain proficiency in existing versions of the software, which would make adapting to updates easier.

    Winners of the National MOS competition were rewarded at the event.

    Katherine Eta of Childville School, Ogudu, scored 1000/1000 in the PowerPOint 2013 category of the national competition, while she came 10th at the world championship held in Orlando, Florida.

    Atafo Abure, also of Childville School, won the Excel 2013 category with 980 points, while Abdullahi Usman of Aduvie International School, Abuja, won the Word 2013 category with 963 points.

    Oshadami Oladokun of Glisten International Academy, Abuja, and Cue-Eze Zal Chukwu of Aduvie International School, Abuja, were runners up in the PowerPoint 2013 category. The Word 2013 category had Ochanya Idoko and Fiberesima Omiebe both of Aduvie International School, as runners up, while Jemin Chinonso of Bellina College, Lagos, and David Eta of Childville School, Ogudu, were runners up in the Excel 2013 category.

    All the winners in each category and their teachers were presented with the equivalent cash awards. The first got N50,000, the second, N30,000 and the third, N20,000.

    In all, a total of 70 pupils from 10 secondary schools were certified during the 2016 competition.

    Winners that emerged from the2016 Readmanna Under 13 National Computing Fundamentals Competition as well as the Key Applications competition were also rewarded.

    Three pupils from Holy Child College, Ikoyi, Jacintha Oguejifor, Odu Oyima, and Ifeoma Kwara won all the prizes for Computing Fundamentals; while the trio of Oluwakanyisola Emordi, Daniel Eta, and Mofeoluwa Adeyemi – all of Childville School, won the Key Applications competition.

     

  • Firm powers $300m Imperial City project

    Firm powers $300m Imperial City project

    •Offers promo plots for N500 

    Property ownership in Lekki may after all not be an exclusive preserve of the  rich.

    With N500, many including the poor, can now own property in Lekki courtesy of ChannelDrill Resources, promoters of the $300 million Imperial City project.

    The firm’s Managing Director/Chief Executive Officer, Mr. Femi Akioye, said the “Imperial City Promo” is a “special Corporate Social Responsibility” initiative for the public.

    For seven weeks, the promoters will give out seven plots of 650 square metres worth N42 million each in the low density residential inner city area for seven people; N1 million for 19; N500,000 for 40; N100,000 for 135 and N50, 000 for 210 winners.

    “The would-be winners would simply purchase a N500 raffle draw ticket for the special draws which has been approved by the Lagos State Lottery Board. The draws will commence from November 17 and end on December 29. This promo is borne out of the vision to make the IIBC an all-inclusive project where those we refer to as the average Nigerian can aspire to and obtain a piece of the future. We want those on minimum wage, the working class men and women, your hard working social worker, the civil servant, the teacher and all other citizens who have been putting in their fair share into the commonwealth to be part of this future we talk about,’’ Akioye said.

    The project is being developed as a new community and will be known as Imperial International Business City (IIBC). It is touted as the first self-sustaining eco-friendly smart business city that will be built in Africa.

    It is bound on the West by Lekki Phase 1 and Lekki Beach Resort on the Eastern axis. Three roads- Freedom Road. Lekki Phase 1; Kunsenla Road, by Fourth Roundabout and Oba Saheed Elegushi Road, with another proposed road through Femi Okunnu by Jakande Estate.

    The city, being planned to be a smart city, is being driven on the basis of two factors that will define the future of modern cities in the world – Smart and Green.

    Akioye explained that the Lekki axis remains one of areas that will sustain Lagos. In this axis is the ancient Ikate-Elegushi Kingdom, which sits at the centre. It has been projected to generate over $50billion Foreign Direct Investment (FDI) in the next four years.

    The city will be divided into residential, mixed and commercial areas, with each designed to have low, medium and high density areas.

    To ensure that the area does not experience flooding like others on the Lekki peninsula, Akioye said there would be land reclamation of about two metres above sea level; a well-constructed drainage and functional sewage system and shoreline protection that will be built by a German-based contractor-Messrs BAUER Spezialtiefbau GmbH.

    These, Akioye argued, would make IIBC the first eco-friendly smart business city in Africa.

    Other infrastructure to be put in place by Channeldrill include a 250-metre entrance road. The road network will include walkway and bicycle way; waterway and lakes; underground drainage, sewage treatment, potable water and water treatment plant, independent gas fired electricity and cooking gas piped to every house, including fibre optics cable.

    Others are cloud enabled communication network and smart city/house infrastructure for willing subscribers; mini-marina and water park, Mini Gulf course; Perimeter fencing, First Smary shopping Mall in Africa; cloud enabled 24-hour spy eyed security connected to a central security center; private data centre and a world-class hospital and recovery resort within a dedicated health care zone.

    The project offers various sizes of plots. The minimum is 650 sqm. Other include: 800sqm, 1000sqm and 1200sqm, 2000sqm, 3000sqm & 5000sqm.

    Akioye said the initiative was a reflection of the vision of Oba Elegushi, Saheed Ademola Elegushi, a joint developer with Channedrill Resources Limited.

    “This vision by the Oba Elegushi is a clear demonstration of love for the masses. He believed that those who may never think that they can own a home in Lagos, not to talk of Lekki, now have ample opportunity to do so by participate in the promo. With N500 lottery ticket, they would be a proud owner of home or money,” the Group Managing Director, Winners Gold Bet, Mr. Banji Sulaiman, said.

    The project consultants and contractors are: Messrs Dredging International Limited, Belgium; Royal Haskoning DHV, Netherlands, marine engineer and reclamation consultants; Mott Macdonald, a United Kingdom-based Infrastructure engineering consultants and Gensler Associates, also a United Kingdom-based Master and Town Planner.

  • Firm trains Delta, Kaduna youths in skills

    Firm trains Delta, Kaduna youths in skills

    In October 10, in Kaduna State and October 18 in Koko, Delta State, 47 candidates were interviewed for eligibility into Total Nigeria Plc’s Skills Acquisition Programme.

    The programme eligibility criteria included that the candidates must be youths who are indigenous to the host communities. They must be less-privileged and show enthusiasm to understudy a vocation of their choice and possess abilities to communicate effectively.

    In Kaduna State, the interview panel comprised representatives of Total Nigeria Plc, namely Corporate Affairs Manager, Mr. Albert Mabuyaku, Corporate Social Responsibility Manager, Mrs. Chinwe Ifechigha, Kaduna Plant Manager, Mr. Daniel Chukwu and Production Planning Engineer, Mrs. Hope Nnaji.

    The community representatives included the District Scribe of Makera, Alhaji Yusuf and District Scribe of Kakuri, Alhaji Yero who stand as guarantors for the candidates. Twenty candidates were interviewed out of which 10 were selected to train for various vocations of their choice such as tailoring, welding and fabrication, hair dressing and carpentry, among others.

    In Koko Delta State, the community representatives were members of the Koko Community Management Authority (KCMA), Mr. Solomon Mikie, Mrs. Rose Kpenosen, Mr. Emmanuel Oti and Mr. Samson Edun.

    Twenty-Seven candidates were interviewed out of which 5 candidates were selected for this year’s programme. They are Ruth Aduwenye, Ololo Oritsegbe-gbemi, Beatrice Bemigho, Bojor Bemigho and Joseph Bathuel.  Another five candidates were selected for the 2017 programme. They are Ogunwo Endurance, Henrietta Ede, Glory Nesiama, Nanna Appearance and Azuka Enebeli.

  • Korean firm to build 550 mw plant in Cross River

    A South Korean firm, Kingline Integrated Power Development Limited, is set to build a 550 Megawatts gas fired power plant in Cross River State.

    Chief Executive Officer of the company, Mr. Sean Kim, stated this when he visited Governor Ben Ayade in Government House, Calabar.

    He said: “We have already done some preliminary checks in Cross River State and the proposed sites meet all of the requirements which is why we are here today. The next phase will be the application for a generation licence, initiating processes for the Environmental Impact Assessment (EIA) and preparations for the project among other necessary bureaucratic processes.”

    Kim added:  “On financing, about $560 million will be coming in from the company and other investors which include the World Bank, this will be sufficient to get this power plant underway.

    “We intend to invest around $10 million during the developing phase and then once we get to the financing closure, together with our investors, we plan to bring in about $150 million in terms of equity. At the same time, we will put together a debt package of around $400 million composed of export credit, agency support from Korea as well as the World Bank and others.”

    Kim who appealed for land and security from the state government, described the partnership as one that will be a “win-win and beneficial” as the state will have the opportunity as a shareholder, the value creation on the share, the dividend and tax revenues as well as creation of over 1,000 jobs. He said the local content act will be effective in the hiring of labour for the building of the plant.

    Governor Ayade lauded the firm for bringing the projects to the state. He added that the idea of gas-fired turbines was apt because the state’s capital city, Calabar, was designed to be “The epicenter of gas gathering around the southern flank in the national gas master plan.”

    “You are doing the right thing, you are coming at the right time as this is the time that you also have the right incentives. The gas to power tariff is completely restructured in such a way that it will support you to buy gas to generate power. And so, I believe that with that scenario, the gas fired turbine will be a good way to go,” Ayade said.

    The Governor explained that the choice of Cross River to invest, was not only good but that it also ticked all the boxes needed for business to thrive in the Niger Delta corridor, considering environmental peace, social peace, topography and others variables.”

    He assured the firm of massive returns on its investment. “You don’t have to carry a policeman, you don’t need to carry law enforcement to force Cross Riverians to pay utility bills because we are educated, we are very civilized, we are very cultured because we had the earliest contact with civilization as a state,”  he said.

  • Firm launches contest for pupils

    The developer of the most- widely used school management software in Nigeria, Edalaf Brothers, has launched Edalaf Einsteins, a national science competition for pupils in primary and secondary schools.

    According to the firm’s Chief Executive Officer, Abiodun Falade, written examinations would be conducted nationwide to select the best pupils for the next stage.

    Thereafter, there would be a written exam in all geopolitical zones to select the best 20 pupils for the third stage, which according to him, would comprise practical exams that would produce 10 finalists that would participate in a live TV science quiz where winners would be picked.

    He added the competition, which is in primary and secondary school categories, would see the overall winner in the latter category going home with N1 million worth of scholarship.

    The first runner up would get  N500,000  while the second to fourth runners up would receive N100 000 worth of scholarship.

    For the primary school category, the overall winner would walk away with N500,000 scholarship; second position would get N200,000, while the third to fifth positions will get N100,000 scholarship.

  • LASTVEB, firm sign MoU on technical students’ conference

    The Lagos State Technical and Vocational Education Board (LASTVEB) has signed a Memorandum of Understanding (MoU) with Trantouch Ltd to organise a conference for students of the five technical colleges in  state next month.

    The Technical Students Empowerment and Entrepreneurship Conference (TECHSEEC) is the brainchild of Mr Collins Uwadia, CEO of Trantouch Ltd, and an alumnus of Government Technical College, Ikotun.

    Uwadia said at the signing at the LASTVEB headquarters in GRA, Ikeja, that the conference would expose about 6,000 students of technical colleges to best practices and opportunities in the skills sector by bringing them in contact with seasoned experts, both local and foreign, in a five-star venue.

    He also said the students as well as firms in the technical/vocational sector would be able to showcase their creativity through a product exhibition that would feature as part of the event.

    During the conference, three lucky students would win slots to get trained in the United Arab Emirates (UAE); and afterwards, about 1,000 final year students of the colleges would also get opportunity for three to six months of training in graphic design, basic computing, business writing, GSM repairs, social media engagement, customer relationship management to be provided by three seasoned ICT firms.

    “This initiative was borne out of passion and my experience, having being privileged to work locally and internationally in the technical field,” he said.

    Lauding the initiative, Director, Technical and Vocational Education, Mr Laolu Oguntuyi, who signed the MoU as Acting Secretary of LASTVEB, said the board needed private sector partnership to boost the quality of training the students  so that they can be relevant in the work place.

    “I am happy about this programme because it will correct the poor perception about Technical and Vocational Education.

    “All of us know that there is inadequate linkage between the educational institutions and industry. This training would bridge the gap,” he said.

    CEO of Rhoda Michael School of Fashion, Mrs Rhoda Agbeyo, who chaired the organising committee for TECHSEEC, underscored the need for Technical and Vocational Education (TVE) training. She said it was not inferior as evidence of its usefulness was demonstrated in increasing number of graduates seeking training at her fashion school.

    “This is what Nigeria needs right now. We have so many graduates in Nigeria without skills. I am a graduate/masters holder who is back to vocational studies. Now I am a teacher of many students at Rhoda Michael School of fashion, who are graduates

  • Dangote buys $12b foreign gas firm

    Dangote buys $12b foreign gas firm

    Dangote Industries Limited (DIL) has bought Twister B.V., a company headquartered in the Netherlands delivering reliable, high-yield and robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors.

    Twister’s unique separation capabilities are designed for augmenting production and streamlining processes, to capitalise on high-yield gas processing for maximising revenues.

    Based on sophisticated patented technology, Twister gas plants are cheaper to build and operate compared to alternative technologies, and deliver better performance. The company has customers in Nigeria, Malaysia, and South America.

    The acquisition complements DIL’s portfolio of investments in the upstream, midstream, and downstream segments of the sector. The company will help design and build the gas plants, which will be critical in processing gas from oil fields for transportation via Dangote’s planned sub-sea pipeline (EWOGGS) for ultimate consumption by industries and power plants.

    Aliko Dangote, president & chief executive officer of Dangote Industries Limited said: “This is an important acquisition for us. Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about 3 bcfd of gas to meet Nigeria’s gas needs.”

    Twister’s Chief Executive Officer  John Young said:  “We are delighted in the confidence DIL and First E&P have shown in Twister…  After a thorough due diligence our technology has been recognised as a key enabler to reduce gas project costs, which is crucial in this environment. We are excited to be part of the Dangote family of companies.”