The Nation Newspaper

Tag: MoU

  • BoI, China’s Exim Bank sign $500m MoU

    A $500 million financing support agreement has been signed by the Bank of Industry (BoI), the Development Finance Institution (DFI) and the Export-Import Bank of China (CEXIM).

    The Memorandum of Understanding (MoU) was signed in China, BoI’s Managing Director/Chief Executive Officer Olukayode Pitan said yesterday.

    The partnership has an enormous job-creation potential, Pitan said, adding: “This is a partnership that will provide a credit line of up to $500 million towards the establishment of modular refineries and flare gas recovery programmes in the country.’’

    The BoI chief, who signed the MoU on behalf of BoI in Beijing, China, said he was delighted to be part of the beginning of a new development agenda, describing the partnership as the next chapter of a long-term trading relationship with China through CEXIM.

    He said: “This agreement is set to create over 100,000 jobs in Nigeria’s oil and gas sector. It is a decisive move that will advance Federal Government’s Modular Refineries and Flare Gas Recovery Programme.”

    Pitan said as part of the MoU between BoI and CEXIM, the facility would be utilised to finance the purchase of equipment and machinery.

    He said such purchases would be from China by investors and project owners of modular refineries in Nigeria.

    “The aim is to ensure availability of refined petroleum products within the country, monetise gas flare, reduce cost of products in the mid-term and provide employment for Nigerians,’’ he said.

     

  • IVTEC: Kwara signs MoU with NDE, World Bank

    The Kwara State International Vocational, Technical and Entrepreneurship College (IVTEC) has signed a Memorandum of Understanding (MoU) with the National Directorate of Employment (NDE) and the World Bank to train 250 students for a first-level skills.

    The MoU, according to Governor Abdulfatah Ahmed, who signed on behalf of the state, provides for the payment of monthly stipends to the trainees for the period of the training.

    He added that the three months’ training would be followed by a six months’ industrial apprenticeship to further expose the trainees to their chosen jobs.

    Ahmed explained that the college was established to provide the best technical, vocational and entrepreneurship training to youths to make them gainfully employed and contribute their quotas to the society.

    The governor added that IVTEC is a benchmark for global standards in vocational education through partnership with globally recognised certification bodies like City and Guilds of London, among others.

    Director-General of NDE Dr Nasiru Mohammed Ladan said the partnership is a right step in the right direction. According to him, it would open a new vista in the implementation of the skills for job of components of YESSO.

    Ladan, who was represented by Mrs. Olaomi Roseline, congratulated the government for pioneering output-based state-led skills among the eight states of Bauchi, Cross River, Ekiti, Logic, Kwara, Niger, Osun and Oyo.

    He added that 316 youths were trained in the last two years.

  • Nigeria, Republic of Benin partner on air accident investigation

    The Nigerian Accident Investigation Bureau (AIB) and the Bureau Enquêtes-Accidents of Benin Republic have signed a Memorandum of Understanding (MoU) on accident investigation.

    The MoU was signed on the sideline of the ongoing workshop on accident investigation for African countries organised by the International Civil Aviation Organisation (ICAO), on Wednesday in Abuja.

    While signing the MoU, Mr Akin Olateru, AIB Commissioner, said the two countries would partner in the area of accident investigation, capacity building and information sharing, to enhance standards.

    Olateru said the partnership would help the nations’ accident authorities fulfill their international obligations in accident investigation.

    According to him, the agreement in the MoU is in four parts — cooperation, capacity and human development, exchange of information and assistance.

    He said the two countries would assist each other in the event of an accident in any of the countries by combining their resources and expertise to conduct the investigation.

    According to him, AIB will be signing another MoU with Sao Tome, Niger Republic and other countries within the next few months.

    “All these today between Republic of Benin and Nigeria is to help us both to fulfill our obligations with regards to ICAO convention on accident investigation.

    “The synergy will go a long way to enhance capacity of our investigators because they will be working with each other to investigate accidents in any of the countries.

    “It is about capacity building at the end of the day;if you look at it because the more you practice the more you learn in accident investigation practices because there are no two same accidents and it takes years to fully train an accident investigator.

    “This for us, is to enhance our capability and boost our expertise in terms of accident investigation and as at today, Nigeria is the leader in terms of accident investigation in Africa” he said.

    Bongo Paul, Head of Bureau Enquêtes-Accidents, Benin Republic, said he was glad to have signed the MoU with Nigeria, adding that the negotiation for the partnership had been on for six months.

    Paul said it was significant to have entered into the partnership with a next door neighbouring country in addition to the ones with European countries.

    He said the idea was to enable Benin to fulfill its obligations in the area of accident investigation through capacity building.

  • Vitafoam signs MoU with Nigerian Academy of Science

    A major stakeholder in the foam industry, Vitafoam Nigeria Plc. has propped up her Corporate Social Responsibility by signing a Memorandum of Understanding (MoU) with the Nigerian Academy of Science to promote the study of sciences.

    With the MoU, which will last three years at the first instance, Vitafoam will be partnering the academy in sponsoring roundtable conferences after social publications and gathering of scientists nationwide for brainstorming to ensure science is tailored towards the needs of Nigerian industries.

    At the signing of the MoU on Tuesday in Lagos, the Managing Director/CEO of Vitafoam Nigeria Plc,Mr. TaiwoAdeniyi, said Vitafoam, which has been in existence for over 56 years, has been contributing its quota to the scientific development of the country.

    He stressed the need for Nigerian scientists to see how they can assist in tailoring science to the requirement of our industries.

    Mr. Adeniyi commended the Nigerian media for creating weekly science page in their newspapers, but “enjoined them to discard writing on general science but specifically write on the needs of the society”.

    He disclosed that Vitafoam has been contributing to the development of science in the past, adding that, “Vitafoam is building a Central Research Conference Centre at the University of Lagos which will be commissioned soon”.

    An elated president of the Nigerian Academy of Science, Professor Mosto Onuoha commended Vitafoam for this initiative, noting that the relationship “is geared towards maximizing the benefits of science and society”

    He noted that Vitafoam had been in the forefront of sponsoring the academy’s annual Award of Excellence and urged other corporate bodies to emulate Vitafoams laudable gesture.

    Professor Onuoha disclosed that the academy had no laboratory, but could only liaise with universities in terms of training the graduate who must have started their studies from the secondary school level, adding that, “NAS believes in catching them young”.

  • Tech U signs MoU with Texas varsity on exchange programmes

    Technical University (Tech U) in Ibadan, the Oyo State capital, has signed a Memorandum of Understanding (MoU) with the Texas Technical University (TTU) in the United States of America (U.S.A).

    TTU is among the top three per cent universities in the world.

    With the MoU, the two institutions will start exchange programmes among students, lecturers, researchers and other categories of workers for internationalisation of their degree and post-graduate programmes.

    Tech U may also become the hub for TTU’s “Study Abroad” programme in Nigeria and other West African countries.

    The exchange programme is expected to begin in the 2019/2020 academic session with TTU students coming for their six-week internship in factories and institutions in Ibadan and Lagos, as may be facilitated by the Tech U.

    Tagged: “Collaborative Agreement for Study Abroad and Research” between students and workers of the two institutions, the partnership will enable Tech U students to complete their degree programmes at TTU and proceed to post-graduate studies, if they desire.

    TTU has an expansive campus spread across the major parts of Lubbock, a serene city in Texas, United States of America.

    The partnership will also afford students and staff Tech U to participate in short and post-graduate programmes in which TTU has special capacity and competence.

    Researchers in both institutions will also collaborate in areas of common interest to internationalise their works.

    Signing the agreement at his office on Tuesday evening, TTU’s President (Vice Chancellor equivalent) Lawrence Schovance said the university was elated to expand scholarly activities to Nigeria through the partnership with Tech U.

    Schovance, who is an engineering professor, noted that the partnership was another step forward in TTU’s goal of widening its international operations to ensure that its students and faculty enjoy international enrichment in their studies and research.

    The varsity president said the partnership would bring great opportunities to students and faculty of the two institutions.

    He added that Nigeria had become a priority for TTU in its efforts at achieving global connections for studying, teaching and research.

    Tech U’s Vice Chancellor Prof. Ayobami Salami said a major goal of the university is to produce graduates who will be key players within the national space and in the larger global economy.

    For it to happen, Salami said, internationalisation is key, hence the huge satisfaction with the TTU partnership.

    He said the university was happy to have the partnership from its first year of operation, adding that it showed the level of seriousness and determination of the management and promoters of Tech U to the ideals of sound education that will enable their graduates make meaningful contributions to the progress of the society.

     

  • Nigeria, China sign MoU on minerals’ exploration

    THE Federal Government has signed a Memorandum of Understanding (MoU) with the East China Meteorological Institute on solid minerals exploration.

    Acting Minister of Mines and Steel Development, Abubakar Bwari, said the country cannot afford all the funding required for exploration and data in the sector.

    He said though the country had earlier signed some MoUs, it is calling for more.

    Speaking in Abuja at the MoU signing ceremony, he said: “This is a very important MoU, considering how important exploration and data is to the mining sector; this is the area we have been lagging behind and we intend to give attention to it. Because of the cost of exploration, government cannot do it alone and that is why we have been having discussions with other mining countries to assist Nigeria in the area of exploration.

    “This is an addition to the MoUs we have been having with other countries; we have an MoU with the Shandong Province, with the Ministry of Land Resources in China, the government of Morocco, the government of South Africa and we welcome more of these MoUs particularly when it has to do with exploration.”

    Nigerian Geological Survey Agency (NGSA) Director-General, Alex Nwegbu said the Federal Government last year advertised for exploration, which it intended to fund but realised that it was too expensive and time consuming, a reason it invited competent stakeholders to partner.

    He said: “We have known over the years that we are short in terms of valuable credible data on the mineral resources we have, so the Federal Government is embarking on a very ambitious program of generating data to bridge the gap of what is required for investors to show sufficient interest in the sector, the Federal Government has done the airborne, has done a lot of geological mapping but this is not enough, investors require more than that.

    “Last year, the ministry advertised for exploration and this is to be funded by the government but we realised that exploration is very expensive and time consuming and that the Federal Government cannot do it alone and therefore we want to invite competent stakeholders who will assist government in generating this geoscience data.”

  • Kwara signs MoU on land administration

    Kwara State Governor Abdulfatah Ahmed has signed a Memorandum of Understanding (MoU) on land administration with EcoBank and Southgate Technologies Consortium.

    At the signing yesterday, Ahmed said the digitisation of land administration was an e-governance initiative meant to introduce efficiency into land administration, create optimal utilisation of wealth and effective deployment of goods and services.

    The governor noted that the reform is big step towards efficiency in deployment of goods and services to create maximum impact.

    Ahmed added that the digitisation of land administration will increase Internally Generated Revenue (IGR), with an estimated annual revenue on land administration above N5 billion, reduce fraud and improve ease of doing business.

    The PPP has a model of Design-Build-Finance-Maintain and Transfer (DBF-MT), with a tenor of five years.

    The Director-General of KP3, Mr. Yomi Ogunsola, said the government had to start with land reforms to enable the state rank among the best in Ease of Doing Business in the country.

  • Bayelsa signs MOU with Calvert Energy Group in Houston

    THE Bayelsa State Eco-Investment Park Limited has signed a Memorandum of Understanding with the Calvert Energy Group for the development of the Bayelsa Eco-Industrial City. The MOU was signed on Thursday, in Houston , United States of America at the ongoing Onshore Technology Conference. A press statement by the Chief Press Secretary to the Governor of Bayelsa State, Francis Ottah Agbo, noted that the agreement is the first of many more investment agreements to be signed by the government of Mr Henry Seriake Dickson.

    The Executive Chairman of Bayelsa Eco-Industrial City, Mr. Denzil Kentebe, represented the Bayelsa Eco-Industrial City Limited while the Mr. Tino Ceniti represented Calvert Energy Group. Dickson, who was also at the conference had earlier in the week said his government was working very hard to make the state the Houston of Nigeria.

    He said this during a session with the NNPC at the conference. He said making Bayelsa the Houston of Nigeria is realisable if the NNPC and the other critical players in the oil industry collaborate with his government. He said Bayelsa has over 30 percent of the gas reserves in the country, stressing that anyone thinking about investment opportunities in gas should go to the state. ” Where to go is clearly Bayelsa and there is no doubt about that, which is why we are here to market that comparative advantage to the investing world, ” he said. He said that the state is safe and peaceful for investments and called on potential investors to make the littoral state their choice destination.

  • Portfolio Institute signs MoU with CISI

    Portfolio Management Institute (PMI) Nigeria, has signed an agreement with Chartered Institute for Securities and Investment (CISI), United Kingdom (UK).

    Its President, a former Managing Director of FUG Pension, Usman Suleiman, at the signing ceremony in Lagos, said the agreement will open the gateway to mutually rewarding and beneficial relationship between CISI and PMI.

    He said professional collaboration if well managed and sustained, can engender immense mutually beneficial reward for the parties.

    He stressed that he has no doubt considering the wealth of experience of all the parties involved, the collaboration will surely not only be of great value addition to our collective members, but also lift us up to higher levels of our collective goal achievements,” he said.

    He said it is a thing of joy for members of PMI joining the global professional community, which will avail them the opportunity of being identified with global best practice in investment and portfolio management.

    He noted that professional institutes, colleges and universities collaborate on initiatives that individual institutions might not be able to accomplish alone, adding that collaboration results in the creation of a formal entity with its own staff, budget and governance.

    He said: “Colleges and universities use collaboration to grow their influence with commercial providers and in this way, benefit the development of learning ecosystems. This is PMI’s focus and it is optimistic that the arrangement will be of immense benefits to membership and other stakeholders at large.

    “The business of banking and finance including investment and portfolio management, is of utmost trust and confidence, which should not be breached in whatever form, hence, the imperative of continuously sustaining professionalism and ethical behaviour. The Institute is putting in a lot of effort at repositioning and ensuring aeffective delivery of membership services and realisation of utmost professional value to members.

     

     

     

  • Nigeria, Niger sign MOU on border security

    Nigeria and the authorities of Niger Republic have entered into an understanding to enhance border security in line with ECOWS Protocol on Free Movement of Persons.

    The understanding was reached yesterday in Abuja during a high-level meeting between the  Comptroller General of the Nigeria Immigration Service, (NIS), Muhammad Babandede, and the visiting Nigerien Minister of Interior, Mr. Soly Amaodou.

    When operational, it would enable the border security agents of both countries to work jointly at common border points and flanks of both countries to not only ensure enhanced intelligence sharing but also help to mitigate irregular migration.

    A statement, issued yesterday by the NIS spokesman, Sunday James, and made available to The Nation, said: “The understanding will also allow for joint deployment of border officials of both countries to specific irregular routes/points in both countries to ensure that irregular migrants are discouraged from embarking on hazardous journeys through the Sahara Desert and Mediterranean Sea,

    “Create a platform for sensitization of citizens of the two countries on the need for them to always possess valid travel documents and avoid the use of irregular routes  when  crossing national frontiers in line with ECOWAS Protocol.

    “The partnership is part of efforts by the two neighbouring countries to combat the increasing cases of irregular migration of youths of both countries which unfortunately has led to the death of many along the Sahara Desert and the Mediterranean corridors.

    “The Nigerien Minister of Interior was accompanied on the trip to Nigeria by Mr. Biko Ibrahim and Mahamar L Garba as well as Mr. Issaakou Abdou of the Nigerien Embassy in Nigeria.”