Tag: N300m

  • Jigawa splashes N300m on jobs

    Jigawa splashes N300m on jobs

    To shore up Jigawa State’s economy, Governor Muhammadu Abubakar has released over N300m into job creation, reports AHMED RUFAI

    The vision is clear. To reflate its economy, Jigawa State looks no further than providing jobs and an enabling environment for workers. Small-scale entrepreneurs are getting much attention across the 27 local government areas of the state. Local miners are encouraged, as are traders and industrialists. There is impetus on skill acquisition. To leave no one in doubt as to the seriousness of the Abubakar administration in lifting the economy, trade unions are also getting the stimulus.

    Virtually every part of the state is aware that something positive and different is happening in Jigawa. On the day the governor made known the various job packages at the Yakubu Gowon NYSC orientation camp, thousands of residents turned up at the colourful ceremony. They were not the only ones present; traditional rulers and political leaders were also there. About 1,574 job categories were available valued at over N300m. Job tools were provided for small-scale entrepreneurs.

    The Abubakar administration wants to achieve a number of things with his jobs plan. The state economy will buoy up, people will be employed and as they are productively engaged, crime will be contained. The government sees it as a win-win plan.

    The state government has a plan to use agriculture and its value-added chain to build its economy, with equal priority on mining, commerce and industries especially through supporting small and medium enterprises with soft loans and providing the enabling environment for business to flourish.

    The distribution ceremony was the talk of the town.

    It was not the first time the government would empower the people. In the last two years over 50,000 persons have benefited from different programmes. The latest one, though, is unique in style and approach.

    Speaking at the event, Governor Abubakar said, “Since the inception of the present administration various economic empowerment initiatives have been established aimed at reducing the high rate of unemployment among the youth where over 51,000 people, mostly women and youths, were empowered in the last two years.”

    Speaking further, Alhaji Abubakar said, “I wish to inform you that our programme targets both youths and women. Today, ýby God’s grace, we are empowering about 1,574 youths on various acquisitions skills and related equipment worth N300 million”.

    He said, “Over eighty percent of the people of this state are small-scale farmers. That is part of the government’s reason for placing more priority on the agricultural sector as the greatest potentials for economic transformation.”

    Governor Abubakar also said that the state’s job plan is in line with the federal government’s drive to diversify from the oil sector to agriculture, mining and other cash sources that will discourage importation and encourage export.

    He said, “The new economic empowerment initiative includes the cluster farming system, micro-credit, soft loans, and skill acquisition equipment of different phases,” adding that buses were also provided for the National Union of Road Transport Workers (NURTW).

    Abubakar said, “Now we are giving 100 rice and wheat threshers of 200kg per hour, 100 rice mills of 200kg to 700kg per hour in three sizes and 100 single row multi-purpose planters, and 100 double row multipurpose planters, 300 hand-held rice/wheat harvesters and 574 manual sprayers two per ward across 287 wards distributed to beneficiaries.”

    Others include Seed Capital Drugs to 287 PCN Certified Youths empowered with patent vendor medicine stores (1person per ward, 27 commercial buses to members of National Association of Road Transport Owners (NARTO), 4 25 tons rice mill to large-scale agriculturalists, 40 rice dealers with Seed Capital of N10 million, 20 paddy dealers with N200, 000:00 each and 20 rice dealers with N300, 000.00 each.

    Badaru called on the beneficiaries to use the equipment judiciously and make prompt repayment ý so that other programmes can be rolled out to ensure programme sustainability.

    Many of the public commentators and observers are of the opinion that looking at the equipment and other packages distributed during the ceremony, certainly the programme looks to succeed, and is likely to produce multiple jobs that could positively impact the social and economic development of the state.

    While some noted that the programme is well-conceived, they also stressed that its success will depend largely on mechanisms put in place to constantly monitor and review beneficiaries’ performance. This process of monitoring will spot areas needing adjustments and further engagement.

    In his keynote address, the National President of the ýNational Association of Road Transport Owners (NARTO), Dr. Kasim Ibrahim Batayya called on other state governors in the federation to emulate Governor Abubakar’s jobs plan, “especially loans to transporters”.

    Batayya also appealed to the federal government to come up with a similar programme “but the federal government should be seeking to improve the transportation sector and enhance the economy and citizens’ well-being”.

  • Firm to raise N300m for low cost schools

    An educational firm Head High International has unveiled plans to build new low cost private schools for less privileged families as well as invest heavily in curriculum technology and teacher trainings.

    The firm will be raising N300 million by selling N1.00 a share through a mortgage bank in order to support this cause.

    Its Co-chairman, Prof James Tooley, an international expert on low cost private schools, said at the launch of the initiative last Thursday at the Centre for Values and Leadership (CVL) centre, Victoria Island that it was birthed to satisfy the desire of the less privileged families who crave quality but affordable education for their wards.

    Tooley, who is the International Patron of the Association of Formidable and Educational Development (AFED) said: “This new chain has the potential to transform low cost private education in Nigeria. It is an honour to be associated with AFED, which is committed to serving low income families with high quality, affordable educational opportunities.”

    Also speaking at the event, Prof Pat Utomi who is the national patron of AFED said:”AFED and Head High International will provide the opportunity for social impact investment through which good returns can come and social transformation come from investing. This offer provides a remarkable opportunity to kill two birds with one stone.”

  • CWG eyes N16.5b turnover, N300m net profit

    Computer Warehouse Group Plc plans to grow its turnover to N16.5 billion as the company moves to consolidate the income streams from its traditional business.

    In a review of the business outlook of the company, chief executive officer, Computer Warehouse Group (CWG) Plc, Mr Austin Okere, said the company plans to optimize and recognise revenues from its traditional brick and mortar business which shall see a 46 per cent increase in revenue in the fourth quarter to close 2014 at about N16.5 billion.

    Okere, who founded CWG, said the company could end the year with a net profit of N300 million, some 61 per cent increase on its third quarter performance.

    According to him, the group has made great strides in the introduction of its new subscription based business lines and its profit outlook is a reflection of continuing improvement in margins driven by greater efficiency and good focus on the growth of managed services.

    “The company is firmly focused on scaling her new subscription businesses, under the CWG 2.0 umbrella, in order to see a change in the profitability trend by half of 2015,” Okere said.

    He outlined that the first among these new businesses is the SMERP, a cloud based ERP product that is ready for roll out and is currently being tested by a few organisations while there are also on-going discussions with multilateral organisations that are focused on SMEs and inclusive growth in Nigeria to collaborate on the roll out of this product.

    He added that there is also the flagship e-commerce technology platform, Openshopen.ng, a  product, that has been running a beta test with a few organisations, with the plan for a mass rollout in the first quarter of 2015.

    “There is also the free to air services which the group will be offering in collaboration with the second largest satellite provider in Europe. This service would launch with 30 TV channels and is planned to be launched in quarter 4, this year. CWG’s smart grid solution to Electricity distribution Companies (DISCOS) is at POC stage with two of the largest Discos in Nigeria and we expect that this new line of business will be at implementation stage by Q3 2015,” Okere said.

    According to him, CWG will continue to focus on growing the brand through initiatives directed towards empowering the African entrepreneur.

    “The declining sales is partly reflective of some changes in procurement pattern for ICT goods generally.  As part of seeking efficiencies in ICT procurements, users’ procurement processes are increasingly stretched, to find best value from competing offers,” he said.

    He said in spite of the challenges, the financial position of the group remains strong with adequate liquidity, leverage and efficiency ratios.

  • N300m largesse for Anambra widows

    N300m largesse for Anambra widows

    Wife of Anambra State governor, Mrs Ebelechukwu Obiano has distributed items worth over N300 million to widows in the state.

    The items included 200 hair driers, 200 sewing machines, 500 bags of salt, 150 cartons of soap, 500 bags of rice, 10 bundles of wrappers, 200 bags containing bundles of treated mosquito nets and 750 milling machines, among others.

    She said that the empowerment was meant for widows in the 189 communities of the state.

    Mrs Obiano also reiterated her commitment to promoting the welfare of families through her pet project Caring Family Empowerment Initiative (CAFÉ).

    The women gathered at the Governor’s Lodge in Amawbia for the distribution.

    The governor’s wife said the items were part of the donations from First Lady Dame Patience Jonathan during her recent visit to the state..

    Mrs Obiano the First Lady for caring for the needy, noting that such initiatives complement CAFÉ’s role in providing succour for the indigent and down-trodden in the society.

    Said she, “CAFÉ is committed to supporting the welfare programmes of Chief Willie Obiano’s administration, which promotes strong and healthy families through assisting and supporting vulnerable groups in the state in order to feel the impact of government and also contribute to its socio-economic development.”

    Mrs. Obiano told the widows that the items were not exhaustive but were being distributed in phases. She assured that the people who have not received the empowerment materials will do so eventually.

     

  • Lagos votes N300m for LPG utilisation

    Lagos votes N300m for LPG utilisation

    The Lagos State Government has earmarked N300 million as intervention to aid the campaign targeted at boosting utilisation of liquefied  petroleum gas (LPG) also called cooking gas, as against other fuels under its programme tagged Eko Gas .

    The Commissioner for Energy and Mineral Resources, Taofiq Ajibade Tijani, stated this during a road-show at Isolo Local Government Area to sensitise the public on the need to switch over to cooking gas.

    At such road-shows, the state government through the Eko Gas initiative gives out filled gas cylinders with accessories free  to low income earners, particularly market women. At Isolo, 1000 cylinders and accessories were given out.

    Tijani said besides the vote by the state government, they are in partnership with major players in the LPG sector such as Chimons, Oando, Strategy Alliance and Banner Energy to enhance acceptance and switch over to cooking gas.

    The commissioner, who spoke to The Nation on the sideline, said: This is an initiative of Lagos State Government to promote the use of LPG (cooking gas) as fuel of choice for cooking knowing that it a fuel that is environmentally friendly and brings good health to people. So, the Governor of the state, Babatunde Fashola, has approved that Lagosians switch to using LPG rather than using kerosene.

    “Today’s occasion is to flag-off another road show, which we started last year. We started with Surulere last year, moved to Ikorodu and now in Isolo and we want to cover all the administrative areas of Lagos to sensitise the masses on the need to deride unfriendly fuels.”

    On the distribution of gas cylinders and accessories free to Lagosian, he said that 1000 was distributed at Isolo adding that their plan is to sample round and give the gas to selected low income earners. “We might not able to cover all the people that we should but we will make sure we get to as many people as possible and by next year again we can get another vote and funding to cover more people

    “Our intervention is to make sure we give free to people so that they can try it. Between last year and this year, the governor approved N300 million for this initiative and we have been able to acquire those LPG from the stakeholders such Chimons, Oando, Strategy Alliance, and all the people  that are already doing business in LPG. They are giving us all the support,” he added.

    He also noted that from the areas covered so far, “the initiative has been very successful and I can give it 95 per  cent, and it will get better as we move along”.