The Nation Newspaper

Tag: global

  • CBN to make Nigeria global rice giant

    CBN to make Nigeria global rice giant

    The Central Bank of Nigeria (CBN) said it is determined to make Nigeria one of the largest rice producer and exporter in the world, making her less dependent on petroleum money.

    Speaking with newsmen in Umuahia, the apex bank’s  Acting Director, Corporate Communication, Issac Okoroafor, underlined the preparedness of the CBN to make the dream come true, saying the country’s apex bank is determined to make Nigeria join other countries in the production and exportation of rice, so that there will be food security and more jobs for the teeming youths.

    He said, “This year, we are expecting that we will be self- sufficient in rice production, Nigeria will become a net exporter of rice because we have seen that most families now eat made-in-Nigeria rice.

    “We now eat rice grown fresh in Nigeria not the rice we used to import from India, Vietnam and Thailand, rice that was between seven  to nine years old. Now we are eating farm fresh rice, grown, milled and packaged in Nigeria. You see, we are very proud of Nigerians, because they responded to this”.

    Okoroafor said the Anchor Borrowers programme has been one of the most successful programs in this country, adding that it goes to show that, “when our people think well and we invest well, we can achieve a revolution, which is what Anchor Borrowers programme has achieved. We are continuing with it, we are expanding it.”

    He said the regulator is getting into the next stage of the Anchor Borrowers Program, which is working with commodity associations, (no longer states), pointing out however that the apex bank is still continuing with the state governments.

    “We are opening up a window for commodity associations. We have started with the Rice Farmers Association of Nigeria (RIFAN), we expect to reach 12 million farmers in this program and you can imagine what 12 million farming with at least one hectare of land can produce. You can imagine what that will bring to our economy”.

    Okorafor said the accelerated agricultural development scheme will involve 10 thousand youths at the pilot level, saying the choice of the youths, will be those that will take pride in agriculture, who also at the end of the day, will be well funded to make agriculture big business.

    He said, “We are starting with 360 to 370 youths, including Abuja and we look forward to a few years when we will come up and say, yes, we have made 360 billionaires in agriculture, young people between the ages of 16 and 35, that is our target.

    “They would come up to make this nation proud. So we are collaborating with the Ministry of Agriculture and Rural Development on this programme. The details are going to be rolled out very soon. There has been a stakeholders meeting in Abuja and that is our focus  for this year,” he stated.

    Okoroafor said the CBN has spent about N87.5 billion on the Micro, Small and Medium Entreprise Development Fund, which was designed for small business operators, like artisans, vulcanizers, hair dressers and tailors, among others.

    He appealed to youths in Abia and the other Southeast states to key-into the programmes of the CBN, by forming strong cooperatives  to enable them access the available funds without cut-throat collaterals.

  • Global child labourers hit 152m as ILO lists path to tackle menace

    Global child labourers hit 152m as ILO lists path to tackle menace

    Child labourers across the world have grown to 152 million, the International Labour Organisation (ILO) has said.

    A new report by the global job watch body noted that child labour declined in 2000, but the pace slowed down between 2012 and 2016. On current trends, 121 million children would still be engaged in child labour in 2025.

    However, the report stressed the need for improving legal protections, labour market governance, social protections, access to quality education and social dialogue between governments, the social partners and other stakeholders are critical aspects in battling child labour.

    The report was published as delegates gathered in Buenos Aires, Argentina for an international conference on the eradication of child labour.

    The ILO has called for stepped-up efforts to “consign child labour to the dustbin of history,” in a report released to coincide with the IV Global Conference on the Sustained Eradication of Child Labour, held in Buenos Aires recently.

    “We are moving in the right direction, but we have to do so at a much faster rate,” the ILO said in its report Ending child labour by 2015: A review of policies and programmes.

    The report lists four key policy ‘pillars’ in the fight against child labour: Boosting legal protections, improving the governance of labour markets and family enterprises, strengthening social protection and investing in free, quality education.

    The report insisted that legislation alone cannot eradicate child labour, but at the same time, it won’t be possible to eradicate child labour without effective legislation.

    More than 99.9 per cent of the world’s children aged 5-17 years are covered by the ILO’s Worst Forms of Child Labour Convention, 1999 (No..182), which 181 countries have ratified. Also widely ratified is the Convention concerning Minimum Age for Admission to Employment, 1973 (No. 138), which 170 countries have ratified.

    ILO observed that turning the standards into national laws remains a major challenge, as is ensuring effective monitoring and enforcement of existing child labour laws.

    “There is also a need for stronger labour inspection systems as it rarely reaches workplaces in the informal economy, where most child labour is found.”

  • Chevron contributes $5m to Global Fund to reduce HIV infections in Nigeria

    Chevron contributes $5m to Global Fund to reduce HIV infections in Nigeria

    Chevron Nigeria Limited, (CNL), an affiliate of Chevron Corporation (Chevron), has announced the disbursement of $2.5 million to the Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund). The fund will also be used for the implementation of the Chevron-Global Fund Anti-Retroviral Treatment Service Maintenance Programme (ART Programme), in Delta, Bayelsa, Ondo and Lagos states. Next year also, a final installment of $2.5 million will be disbursed to support these HIV programmes, making the total  contribution to $5 million by Chevron.

    These funds are in addition to the $6.7 million earlier donated by Chevron for the Prevention of Mother-To-Child Transmission of HIV (PMTCT) in Bayelsa State.

    “The ART Programme will help bridge a critical national health gap and continue Chevron’s work in achieving an AIDS-free generation. The programne will help reduce new HIV infections and improve the quality of life for people living with HIV and other affected people in the communities of the targeted states.

    “Additionally, it will provide Nigerians with universal access to high-quality, patient-centered prevention, diagnosis and treatment services for tuberculosis, HIV and drug-resistant tuberculosis by 2020,” General Manager, Policy, Government and Public Affairs, CNL, Esimaje Brikinn, said.

    These disbursements are part of a nine-year, $60 million commitment from Chevron to the Global Fund. The Global Fund raises and invests nearly $4 billion a year to support programmes run by local experts to fight the three diseases in countries and communities most in need.

    The Global Fund is one of the world’s largest international financier of health care programmes fighting these three diseases.

    According to Brikinn: “Chevron has learned through decades of experience that our success is tied to the health and prosperity of the communities where we operate. Chevron’s social investments are developed through a participatory process and through partnerships not only with the communities, who are living in proximity to our operations, but also with other stakeholders, who share interests in common with our business (e.g., government, non-governmental organisations (NGOs), non-profits, development agencies, among others.”

    CNL has also committed substantial resources over the years in implementing initiatives aimed at combating several diseases in communities close to its operations and beyond. “The initiatives include River Boat Clinic, building of community health centres, donation of medical supplies and sponsorship of health campaigns,”Brikinn explained.

    The Minister of Health, Prof. Isaac Adewole, thanked Chevron for the gesture and noted that the efforts of the company over the years have exemplified the private sector support for health intervention programmes in Nigeria.

    “We are happy about what Chevron is doing to support government’s efforts in the fight of HIV and other diseases in Nigeria. That is what we have been advocating; that the private sector should show concern about public health issues. Government cannot do it alone, and this support is needed to achieve a healthy society” Prof. Adewole remarked.

    The Global Fund’s Strategy 2017-2022 outlines results targets for the partnership. Programmes supported by the Global Fund will save 14 million lives in the three-year period, beginning in 2017, bringing the total lives saved by the Global Fund partnership to 36 million by the end of 2019.

    Those programmes will also avert up to 194 million new infections or cases of HIV, TB and malaria

  • Fed Govt hails global backing for anti-graft fight

    The Federal Government has hailed the global endorsement of its fight against terrorism, as contained in the 2017 Global Terrorism Index of the Institute for Economics and Peace (IEP).

    In a statement issued in Abuja yesterday, the Minister of Information and Culture, Alhaji Lai Mohammed, expressed delight at the report, which showed that the largest decrease in terrorism deaths globally occurred in Nigeria.

    The statement signed by the minister’s Special Adviser (Media), Mr. Segun Adeyemi, said the report specifically showed that terrorism deaths attributed to Boko Haram fell by 80 per cent in 2016.

    The minister said it was also encouraging that for the second consecutive year, the total number of deaths was down with a 13 per cent Year-On-Year reduction.

    He said compared to 2015, with countries most affected by terrorism like Syria, Pakistan and Afghanistan, Nigeria recorded 33 per cent fewer deaths.

    Mohammed said the progress made by Nigeria in the fight against terrorism since President Muhammadu Buhari assumed office in 2015, was duly acknowledged by the Executive Chairman of IEP, Steve Killelea.

    He said Killelea was quoted by the report as saying: “The decline of Boko Haram in Nigeria is having a positive ripple effect, with Cameroon, Chad and Niger collectively recording 75 per cent fewer deaths.”

    Mohammed said Nigeria’s success in the fight against terrorism was a direct result of Buhari’s leadership.

    He said the President did not just provide the enabling environment for the Nigerian military to regain its lost glory in the fight against terrorism, but also rallied Nigeria’s neighbours to forge a wide and sub-regional front against Boko Haram.

    “It is fitting, therefore, that the 2017 Global Terrorism Index acknowledges the success recorded by the Multinational Joint Task Force that has be

    en exerting pressure on Boko Haram,” he said.

    The minister noted that the President, in his inaugural speech on May 29. 2015, directed the relocation of the command centre of the fight against Boko Haram to Maiduguri.

    He said the President followed up the directive with a shuttle diplomacy that took him to Cameroon, Chad and Niger, and resulted in the rejuvenation of the Multinational Joint Task Force.

    Mohammed congratulated the Nigerian military for its patriotism and sacrifice that had once again made the country a proud member of the comity of nations.

    He said the 2017 Global Terrorism Index would provide a fresh shot in the arm for the administration to continue its efforts to wipe out the vestige of Boko Haram and to tackle all other forms of insecurity facing the nation.

  • Global exigency of tolerance

    SIR: The United Nations has since 1995 declared November 16 of every year as World Tolerance Day. However, that the world has not been able to transform this noble vision into reality; that the human race still continues to experience tensions, conflicts, and wars caused by inter-personal, inter-ethnic, inter-state, inter-racial and inter-civilizational intolerance, are facts that are indisputable.

    Observably, the world has been paying little attention to the need to collectively inculcate mutual tolerance and shun violence.

    Today, many religious organizations and practitioners are also perpetrating violence by not accommodating others, all in the name of their religious ideologies. Similarly, from the Middle East countries to Nigeria, France, UK and Myanmar etc, the world has turned into a hotbed of terrorism and lack of peace and security, all due to socio-political ideological differences. In fact, Nigeria, in particular, has also been witnessing such expression of intolerance in almost every corner of its six geo-political zones with resultant cases of hate speech, tribal partisanship, kidnapping, and bombings etc.

    As far as Islam is concerned, it should be clearly noted that, as a religion of peace, it does not in any way encourage violence borne out of intolerance for fellow human being. The Holy Founder of Islam in his lifetime lived with people of different religions, ethnicities, social classes and races for the purpose of establishing and promoting socio-religious peace. Therefore, those using Islam to promote intolerance and evil actions have personal and worldly motives, neglecting the true Islamic principles of mutual tolerance, love, respect, and justice.

    As we celebrate another World Tolerance Day, it is worthy of note that the global peace we all yearn for will not come as long as we continue to fail to love one another, inculcate true justice, forgiveness, and above all, tolerate one another.

     

    • Mujeeb Oniyide,

    mujybyte@gmail.com

  • OGFZA raises key issues at global trade summit

    The ease of doing business and public-private partnership in investment promotion, were among the key isues raised by the Oil and Gas Free Zones Authority (OGFZA), at this year’s Global Trade Development Week (GTDW), in Dubai, the United Arab Emirate (UAE)

    OGFZA, at the World Trade Organisation (WTO) conference, also harped on compliance with laws and regulations, governing trade and investment  and lowering cost of doing business

    The oil and gas regulator,  placed a premium on these four concerns as must-address imperatives in its three-year roadmap for the development of the nation’s oil and gas free zones.

    The theme of the conference was, “Navigating Global Trade & Reviving Global Growth: Implementing TFA and enhancing capacity across the public and private sector.” TFA, for Trade Facilitation Agreement, a WTO trade protocol which came into force on 22 February 2017, seeks to lubricate trade among member nations of the WTO that have ratified it.

    Delegates to the conference,  including four management staff of OGFZA interfaced  with more than 80 international experts in trade facilitation, international trade finance, customs administration, compliance issues and training, and also with  other delegates from the Middle-East, Asia, Australia, Europe and the Americas.

    The Economy Minister of the UAE,  Sultan bin Saeed Al Mansoori, said the theme of the conference was about ‘facilitating cross-border trading through simplification of procedures at borders and administration requirements, providing information and electronic procedures which help save time, reduce costs and improve customs and logistics standards.”

  • Aboliki balm : Nigerian brand gone global

    A hot balm being hawked on the streets, Aboliki Balm, has never appeared on any advert. The product is an awesome representation of what a brand should be. It thrives on consumer experience and a wide distribution network. The product is used to temporarily relieve minor pains. It is also used for the relief of flu. The brand has been awarded by European Society for Quality Research, Institute For Government & Leadership Technology, West African Direct Marketing Award, and West African Corporate Achievement Award.

    The ointment is manufactured and distributed  by J. C. Udeozor Global industries Ltd. The company’s head office is in Iduowinna, Edo State and it has an international office in Nottingham, United Kingdom. With a unique service proposition of ensuring “healthy muscles”, combined with minimalist branding, the product is being sold in Europe, North America and some other parts of the world.

    A consumer based in Europe, Afrilaskan Jules, who got Aboliki Balm from Amazon, said: “It works wonders”. In his testimonial to the product, he said:”I put it on my feet at night to get rid of a cold and on my muscles when they are sore. It works so good”.

    But some users of the balm have also complained about the intense heat it generates on the skin.

    A user who gave his name simply as John said when the balm strayed into his a larceration on his skin,  he saw hell.

    1. C. Udeozor Global industries Ltd has demonstrated that a brand is just a great product; a product that meets the consumers’ needs and translates to a wonderful experience. The company has also metamorphosed into a corporate multinational with competence in marketing and distribution.

  • Global online sales to hit $2tr

    Worldwide retail e-commerce sales will reach $2.290 trillion in the year, making up 10.1 per cent of total retail sales. This share will surpass 16 per cent by 2021, when sales will hit $4.479 trillion.

    Retail e-commerce sales worldwide will continue to post solid gains in the year, rising 23.2 per cent. e-Commerce sales will account for one-tenth of total retail sales worldwide.

    eMarketer has lowered its estimates for worldwide retail sales throughout the 2016–2021 forecast period, mainly due to the other currencies’ weak exchange rates relative to the US dollar. Retail sales will grow 5.8 per cent this year, reaching $22.737 trillion, largely driven by sales in China.

    Retail e-commerce sales worldwide will increase at four times the rate of retail sales this year, jumping 23.2 per cent to $2.290 trillion. e-C ommerce sales growth will stay in the double digits throughout the forecast period.

    China and the US will combine for $1.584 trillion in e-commerce sales this year, representing 69.1 per cent of global e-commerce.

    In the year, mobile commerce will account for more than 70 per cent of e-commerce sales in China and India, and 59 per cent in South Korea. In Germany, the UK and US, e-commerce will comprise at least one-third of total retail ecommerce sales.

  • Nigeria’s real estate set for global investment standard

    The quest for diversification of the economy and attract foreign investment is set for a boost with promoters of The Oceanna unveiling investment options for part-ownership, similar to what earned the Dubai real estate sector global appeal.

    The Group Managing Director, Palton Morgan Holdings, Adeyinka Adesope, said the hotel segment of the iconic project is open to part-ownership with flexible payment options, secure and high returns on investments. “We are opening up the real estate sector to investors both in Nigeria and the Diaspora. Having embarked on a project that has clearly redefined the real estate sector in Nigeria by setting the standard for luxury and working with globally acclaimed professionals/consultants, we now invite investors to participate,” he said.

    Information available on their website indicates that Grenadines Homes, a member of Palton Morgan Holdings, is trying to match the Nigerian real estate sector with Dubai where luxury, safety of investments, flexible financing and high returns, among other things have combined to increase global appeal to that market.

    According to Head, Marketing Services, Palton Morgan Holdings, Kikelomo Williams, the company desires to open up a plethora of opportunities and experiences to discerning investors with the project. “The Oceanna Hotel is more than just a location. It is carefully set out as a plethora of opportunities and experiences, but the first step is to be an investor. It guarantees a lifetime stream of income,” she said.

    She is confident that the global appeal of the iconic development is not just in beauty, “the quality team of experts and professionals working on it will excite anybody familiar with topnotch real estate across the world’’.

  • Global banking board elects Aina as chairman

    Global banking board elects Aina as chairman

    A foremost Nigerian banker and past President of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Olusegun Aina, has been elected as the pioneer Chairman of the Global Council of Global Banking Education Standards Board (GBEStB).

    The election of the former President of West Africa Bankers Association took place on Tuesday, July 25.

    Alongside Aina, three vice chairs were elected from the United Kingdom (UK), Hong Kong and Ghana to provide leadership for the strategically important body.

    The election has been described as a testament to growing international financial community’s confidence in the Nigerian banking system.

    In his acceptance speech, Aina noted: “It is not by accident for the Chartered Institute of Bankers of Nigeria (CIBN) to get this global recognition and acknowledgement. This feat is attributable to the selfless services rendered over the years by the various leaders, especially founding fathers and all presidents (present and past) of the CIBN without exception”.

    He added: “This indeed for us is a call to service as CIBN is now in the eyes of the world. By the Grace of God and the support of all, we will excel in the tasks ahead.”

    As expression of his gratitude, he said: “Thank you for nominating me to serve on the Global Council as representative of CIBN, which provided the platform for my emergence as Chairman of the Global Council, the highest decision making organ of the GBEStB.”

    Prior to his election, Aina had been representing CIBN on the 12-nation Task Force setup in 2011 in Kuala Lumpur, Malaysia, which midwifed the birth of the Global Council of Global Banking Education Standards Board, formally inaugurated on April 26, 2017.

    An initiative founded by many of the world’s leading banking institutes, GBEStB comprises of 26 founding institutions from 26 countries across the continent.