The Nation Newspaper

Tag: MoU

  • Sokoto signs MoU to establish N2bn industrial fund

    Sokoto signs MoU to establish N2bn industrial fund

    To actualise a sustainable industrial development base, the Sokoto government on Thursday signed a Memorandum of Understanding with the Bank of industry for the establishment of a N2 billion industrial development fund in the state.

    Speaking at a brief signing ceremony of the MoU in Sokoto, Governor Aminu Waziri Tambuwal said the two parties will provide a billion Naira each, while the fund will focus on micro, small and medium scale enterprises.

    Tambuwal in a statement issued by his spokesman, Malam Imam Imam, said the focus on SMEs was important because they are   critical component in implementing the industrialization policy of his administration.

    “Sokoto state government is determined to give the people all the required support to improve their businesses. I urge our entrepreneurs, businessmen and women to take advantage of this opportunity to enhance their capacity and improve on their businesses for effective service delivery,” he said.

    The Governor said in order to ensure maximum benefit, government will only recommend those who have the capability to judiciously utilise the funds.

    Tambuwal reiterated the government’s commitment to implement the terms of the agreement and assured that the efforts will yield positive results.

    Also, the BoI’s Acting Managing Director, Mr Waheed Olagunjo said the matching fund was intended to positively impact on the industrial development of Sokoto state.

    He added that the synergy created between the two parties would provide a veritable platform for Sokoto State to experience accelerated economic growth and transformation.

    While thanking the Governor for giving BoI an office accommodation in Sokoto, Olagunju said the bank will continue to support the business community in the state so as to improve their economic well-being.

  • Lagos, investors to sign MoU on 4th Mainland Bridge in May

    Lagos, investors to sign MoU on 4th Mainland Bridge in May

    Lagos State government will sign a Memorandum of Understanding (MoU) with investors for the construction of the proposed 4th Mainland Bridge before the end of May.

    Governor Akinwunmi Ambode said this yesterday at the third quarterly town hall meeting in Ikorodu.

    He said the bridge would take off from Ajah through Langbasa to Ikorodu, adding that works would begin soon to boost the state’s economy.

    According to him, “many investors have shown interest in the actualisation of our dream for the 4th Mainland Bridge, which will run from Ajah to Ikorodu to Isawo and berth at Ojodu, Ikeja back to the Lagos/Ibadan Expressway”.

    On his achievement in the last three months, he said major breakthroughs have been recorded in security since the launch of the N4.78 billion security equipment.

    Ambode added that the quick response in the rescue of the kidnapped girls in Ikorodu and the quelling of the Mile 12 riot are testimonies of the effectiveness of the state’s security system.

    “I am ready to pay for information on criminals as we proceed to make Lagos crime-free.

    “We are happy to report that crime rate has reduced in the last three months,” he said.

    On motorcyclists on Ikorodu Road, the governor ordered the police and other security agencies to enforce the law on the route and ensure that motorcyclists do not carry passengers from Mile 12 to Ikorodu .

    Ambode said his administration had recorded success in its Light Up Lagos Project as 68 rural communities were recently connected to the National Grid with massive street and road lightings ongoing.

    He said the Light Blue Rail project was now about 85 per cent completed, adding that he paid N561 million for 46,000 public school pupils for the West African Senior Secondary School Certificate Examination (WASSCE).

    The governor ordered the taskforce to serve evacuation notice to all occupants of shanties at Ajelogo-Akanimodo axis, after which demolition in the area would begin.

    Ambode revealed plans to convert the Ikorodu-Imota-Itoikin-Agbowa Road to an eight-lane road under the Build-Own-Transfer (BOT) scheme.

     “We don’t have the money, but we have investors who have shown interest.

    “We are turning it to an eight-lane road, it is the only place not touched, we will do it,” he said.

    Ambode said the road would be built under the Public-Private Partnership, PPP programme.

    “It will be a PPP Project; there will be three lanes on both sides.

    “The remaining two lanes in the middle would be reserved for rail development in the future when the government has funds for the project.

    “We have awarded contracts for the construction of flyovers in two high traffic zones – Ajah Roundabout and Abule-Egba Junction. These projects would be delivered before December.

    “Work has started on the Berger pedestrian bridge. Work is at an advanced stage on the Ajasa Command and Aboru-Abesan link road to ease traffic on the Lagos-Abeokuta Expressway and link the various communities.”

  • Oyo workers seek review of MoU

    The Nigeria Labour Congress (NLC) in Oyo State has urged the government to review the 90 per cent income dedicated for salary payment from the Federation Account.

    Its Chairman, Comrade Waheed Olojede, at a briefing yesterday after a meeting with the government delegation, said: “The agreement and Memorandum of Understanding (MoU), which stipulates that 90 per cent allocation to workers has become obsolete and needs to be reviewed.”

    According to Olojede, the monthly allocation from Abuja is dwindling and irrelevant and that is why there is an urgent need for a review.

    The union boss said:” We started the meeting at 3pm and the government delegation was led by former Secretary to the State Government, Lekan Alli.

    “Negotiation has commenced and it will be a continuous one that will run within a short reasonable time before we shall come to a conclusion on how to address the irregularities in payment.

    “We hope that the government will invite us to another round of meeting and we are appealing to the government again to seize this opportunity of understanding and negotiation as a golden one that would end this industrial imbalance in the state.”

    He assured workers and advised them to remain calm and follow the trend of negotiation, promising that the union leaders will not let them down.

    Olojede said:” We will continue as leaders of workers in the state to fight for their right, welfare and their industrial interest because it is our interest, responsibility, and we shall continue to pursue it to a logical conclusion.”

  • Re: Abuja contract awarded without MOU, Project Design

    SIR, The report by Gbade Ogunwale on the above subject which appeared on page 8 of The Nation of Tuesday February 16 refers. According to the report, the Senate Committee on FCT paid a visit to the Abuja railway project site where they had an interface with the project manager of the Chinese firm handling the project.

    The report claimed that the project manager, Mr. Abak told the Senate Committee on FCT that the contract was awarded in 2007 without any formal design and also that rail and crossover bridges were not captured in the contract and that the contract was inflated by US$10M per kilometre. We also gathered from the report that the contract was supposed to cover a distance of 60.67 kilometres but was reduced to 45.245 kilometers.

    Considering that the contract was awarded in 2007, why did the project manager wait for so long before bringing out these issues? Secondly, did he make any efforts to document these observations and forward same to the highest authority? The reason why I am saying this is because if there is any problem along the line the project manager will be held responsible.

    Concerning the issue of refund raised by the committee chairman on the 15 kilometers shortfall, I think that there are other fundamental issues that need to be addressed as far as this project is concerned. For instance, we need to know from the project manager whether an environmental impact assessment was conducted as required by the law. Again we need to find out if an E.I.A approval was granted by the Federal Ministry of Environment. In addition, the public will like to know if Geotechnical Survey of the project area was carried out prior to commencement of this project. How did the firm arrive at the cost estimates without the technical design of the project?

    On the issue of Memorandum of Understanding (MOU), in any government contract it is imperative that the MOU be clearly spelt out before the contract agreement is signed. It is in the MOU that we have details of how training will be conducted, and how spare parts will be procured, whether they are going to be produced locally or imported. The MOU will also highlight the roles of both the government and the firm that is handling the project.

    Finally, I think it is high time for our government to start making use of our engineers in the design and execution of our projects. We do have competent engineers in this country that can handle most of our projects.

     

    • Oladele Oladipupo

    Festac Town, Lagos

  • Nigerian, UK stockbrokers’ institutes to collaborate on capacity development

    The Chartered Institute of Stockbrokers (CIS) has signed a Memorandum of Understanding (MoU) with its counterpart in the United Kingdom, the Chartered Institute for Securities and Investment (CISI) to develop mutual framework for capacity development.

    By the MoU, the CIS shall mobilise its members under special arrangement to become CISI members with attendant benefits and CISI will also do the same. The CIS will also collaborate with CISI to organise and execute on-line continuing development programme (CPD) for its members in Nigeria and both parties shall develop specialised professional training for their members.

    Also, CIS shall collaborate with its UK counterpart to develop specialised professional training for its members and students resident in Nigeria through development of courses and programmes in Securities and Investment and other related subjects.

    The MoU provides for collaboration of both Institutes to develop a course on integrity, ethics and professionalism as part of on-going requirements for the membership of CIS among others.

    The MoU represents a strategic move to forge a strong relationship between the two leading institutions that train global finance and investment professionals and it is expected to become operational shortly.

    Also, plan is underway to hold a strategic forum where the chief executive officers (CEOs) of stockbroking companies in Nigeria and members of CISI in London and Nigeria would interact for mutual benefits.

    Acting President, CIS, Mr Oluwaseyi Abe, described it as a welcome development that would be mutually beneficial to both institutes.

    Abe noted the support of the Nigerian Stock Exchange’s chief executive officer, Mr Oscar Onyema who had earlier stated the Exchange’s full support for the MoU as a potent method to create symbiotic relationship between CIS and CISI in order to develop the much needed global manpower for the Nigeria capital market.

    Director, Global Business Development, Chartered Institute for Securities and Investment (CISI), Mr Kevin Moore expressed optimism that the MoU would strengthen relationship between CISI and CIS in all the components of professional and business activities in the short, medium and long time.

    According to him, members can specialize in any aspect of the financial market operations and get certification such as a specialist in equity, fixed income and derivatives among others. He explained that each certification requires an examination.

    Moore endorsed the plan to organize a strategic forum for exchange of ideas by the CEOs of stockbroking firms in Nigeria and global members of CISI.

    The Country Senior Representative of CISI, Dr John Osuoha who congratulated CIS and CISI on the milestone explained that membership of CISI basically provides global recognition for the professionals in the financial market.

    Dr Osuoha explained that over 200 Nigerians had already become members of CISI either by direct membership or examination approach. He noted that both CIS and CISI would collaborate in conducting examinations for the members of CISI who aspire to specialize in professional practice.

     

  • Osun signs MoU with IITA

    Osun signs MoU with IITA

    Osun State Governor Rauf Aregbesola has signed a Memorandum of Understanding (MoU) with the International Institute of Tropical Agriculture (IITA).

    The ceremony, which took place yesterday at the Executive Lounge of the Office of the Governor in Osogbo, will have the state release 204.39 hectares of land around Ago Owu to IITA for research and setting up demonstration farms.

    IITA will also carry out cassava, plantain and other crops multiplication and train youths on modern, commercial and profitable farming.

    Aregbesola said releasing the farmland to IITA will complement the state’s agriculture programme, extending robustly the agriculture value chain and create jobs for farmers.

    The governor commended IITA and its Director General, Dr. Nteranya Sanging, for being supportive of Osun’s flagship agriculture programme, Osun Rural Enterprise and Agriculture Programme (O’REAP).

     

     

     

  • OSPOLY lauds Aregbesola on MoU

    Management of the Osun State Polytechnic Iree, Osun State, has praised the Osun State Governor Ogbeni Rauf Aregesola for creating an enabling environment for the polytechnic to access international opportunities which have yielded positive developments in the institution.

    Rector of the Institution, Dr Jacob Olusola Agboola said this on Monday, while playing host to a volunteer from United States Agency for International Developnment (USAID) and Winrock International, Mr Brian Doyle, who was in OSPOLY to help with the re-organisation of the institution’s library as part of the Memorandum of Understanding (MoU) signed with the agency on agricultural education and farmer-to-famer programmes initiated by the polytechnic.

    Said Agboola: ”The state governor, Mr. Rauf Aregbesola, has created enabling environment for our institution to be rated as the sixth best polytechnics in Nigeria out of over 100 polytechnics nationwide.

    We are now on a journey towards being the first in the country. We are blessed with the state of the arts equipment, facilities and seasoned academics. All these are achievable with the assistance of the governor.”

    Doyle, who is currently in the institution to improve students and workers skills, counseled the authorities of the polytechnic to re-package the library using e-learning.

    The polytechnic recently hosted officials of USAID/Winrock International for a workshop and facility assessment on agricultural education, which facilitated the approval for the take-off of Agricultural Engineering and Bio-Environmental Studies in the institution by the National Board for Technical Education (NBTE).

     

  • Access Bank, PAN sign vehicle finance MoU

    Access Bank Plc has signed a Memorandum of Understanding (MoU) with Peugeot Automobile Nigeria (PAN) to make it easier for customers to buy new cars.

    The two firms said the programme, Access Bank/Peugeot Vehicle Acquisition Scheme, would enable more aspiring customers acquire any of the Peugeot models available in the company and spread the payment over a specified period.

    The Executive Director, Access Bank, Victor Etuokwu, who was at the signing of the agreement in Lagos, said the process of acquiring the vehicles was easy.

    He said the scheme, which began  at the weekend, would last for one year while customers are expected to fully repay the loan within four years.

    Etokwu explained that to access the loan, aspiring car owners are expected to deposit 20 per cent upfront with 24 per cent interest rate, adding that the partnership was in support of the Federal Government’s automotive policy, which commenced in 2014.

    He maintained that the culture of the bank was to support mobility of people and hoped that with the partnership, more people would be able to purchase vehicles of their choice at affordable prices.

    “We are opportune to partner with the PAN because the company is one of the leading firms in the sector today while Access Bank too is among the top 15 banks on the continent in terms of assets. We want to build benefits for customers with our partnership,” he said.

    “Experts announced recently that over 90 per cent of the world’s resources would be concentrated and managed by about one per cent of the world populace by the end of 2016. We want to create value as an institution and we are both concerned about the welfare of the people. This scheme provides opportunity for people who do not have the resources to buy a car outright.”

    PAN Managing Director, Ibrahim Boyi, said the scheme was open to all customers, including those with or without functional account with the bank.

    He said both parties had cautiously designed the scheme to enable beneficiaries gain access to the system, declaring that this would make the cars to be affordable with long-term benefits to customers.

  • Yoruba movie practitioners sign MOU

    Yoruba movie practitioners sign MOU

    The Yoruba Video Film Producers Marketers Association of Nigeria, (YOVIFPMAN), and Theater Arts and Motion Picture Association of Nigeria, (TAMPAN), last week signed a Memorandum of Understanding, to work together to get rid of non-professionals in the Yoruba film industry.

    Present at the ceremony were popular Yoruba actor, Adebayo Salami, YOVIFPMAN President, Alhaji Abdullahi Abdulrasaq and TAMPAN President, Mr Dele Odule. The MoU was signed at the YOVIFPMAN secretariat at The Arena, Oshodi, Lagos.

    Speaking at the signing ceremony, Odule said it became necessary to sign the agreement when they discovered that non-professionals were taking over the market.

    “We have done this to appreciate professionalism and drive away mediocrity. If you look at it critically, you will discover that the Yoruba movie producers are marketers have not done too well but these days we cannot differentiate between the professionals and non-professionals. This is why we have decided to come together so that we can do away with the mediocre and be able to identify the professionals,” Odule said.

    He also noted that now that they have signed an MoU, there will be better production from the producers which will in turn lead to acceptability by the marketers and cinemas.

  • Ekiti signs MoU with UK firm on IPP

    Ekiti State government has signed a Memorandum of Understanding (MoU) with a United Kingdom-based firm, Elemi Energy Limited, for the installation and development of 1.15 megawatts Solar Photo Voltaic (PV) Farm.

    The project, which was to boost power supply and breathe life into the economy, was facilitated through the Public Private Partnership (PPP) and it would cost over N500 million, as Foreign Direct Investment (FDI) was approved by Governor Ayo Fayose as part of his commitment to infrastructure development.

    The Solar PV Farm is to be built on 14,000 square metres of land belonging to the Broadcasting Service of Ekiti State (BSES), with an agreement to

    provide free 150 kilowatts to power station installations and equipment for 20 years.

    Elemi Energy Limited, which will handle the power project through its subsidiary in Nigeria, Elemi Power Solutions Limited, will also sponsor training of five engineering workers of BSES in the UK for the operation and management of the 150KW power plant.