The Nation Newspaper

Tag: National Bureau of Statistics

  • The jobless 20.9m

    The National Bureau of Statistics (NBS) has confirmed that the number of Nigerians without jobs rose in September of this year to 20.9 million. This time last year, the number of jobless Nigerians was 17.6 million. In percentage terms, the unemployment rate rose from 18.8 per cent in the third quarter of 2017 to 23.1 per cent in September 2018. This means that for every four Nigerians in employment, one person is without job. It is conceivable that the number of jobless Nigerians may be more than this, given the difficulty in having accurate data, especially from the rural areas.

    In both absolute and relative terms, having about 21 million Nigerians between 15 and 64 years old without jobs is alarming, particularly in view of the harm that poverty had caused in many parts of the world. Most countries hobbled by terrorists also have youth unemployment problems. Apart from Boko Haram, a high rate of unemployment in Nigeria can also lead to criminality and other forms of social disorder. Government thus needs to act fast to bring down this high rate of unemployment.

    Undoubtedly, rising unemployment did not start in this dispensation.  It has been rising steadily for about two decades. What is worrisome about the unemployment figure at the end of 2018 is that having over 20 million people without jobs seems to have belied all apparent policy efforts of the Federal Government in the last three years to cut the rate of unemployment. For example, in 2017 at the launch of the Economic Growth and Recovery Plan (EGRP), the Minister of Industry, Trade, and Investment, Okechukwu Enemalah, confidently predicted that the plan would produce 3.7 million jobs annually between 2017 and 2020. Even with unemployment benefits such as N-Power, School-to-Work Job Scheme, Anchor Borrowers Programme, and Rural Employment Management Information System, the number of jobless Nigerians seems to be rising every quarter, even for several quarters after the end of recession.

    For whichever political party controls the government after the forthcoming elections, there is need for governments to find more creative ways to stimulate and sustain job creation. Admittedly, efforts so far to diversify the economy, particularly the new emphasis on agriculture fit into the pattern of economic development in other countries, much more than the traditional dependence on sale of petroleum. But if economic growth continues to derive from capacity of an economy to produce goods and services, the federal and state governments will need, more than ever, to address the fundamentals of job creation in a free market economy in the age of technology.

    We know that about 65 per cent of jobs in all free market economies are generated by small-scale companies in the private sector. And that most governments make rigorous efforts to create enabling environment for the private sector to thrive, so that it can create and sustain jobs in response to new additions to the population. None of today’s productive activities—from agriculture to manufacturing and marketing—can thrive without provision of reliable electricity. Thus, the centrality of electricity to job creation in the private sector ought to become the priority at every level of governance in 2019. We urge our governments to commit adequate attention to power supply in efforts to provide a conducive environment for job creation. Generally, it is when there is uninterrupted electricity that other measures, such as tax cuts, additional spending on public works, unemployment benefits, and reduced interest rates can be effective in stimulating a job-generating private sector.

     

  • NBS: Nigeria earns N808b from VAT

    About N800 billion was realised from Value Added Tax (VAT), data from the National Bureau of Statistics (NBS) have shown.

    According to the NBS, the revenue was generated from sectoral distribution spanning the first to third quarters (Q1-Q3) of last year.

    VAT is a consumption tax imposed on a product whenever value is added at each stage of the supply chain, from production to the point of sale.

    Sectoral Distribution of       VAT for Q2 and Q3, 2018 posted on the bureau’s website, showed an increase in the revenue generated from VAT during the year  review period.

    The report showed that  269.79 billion was realised in the first quarter, N266.73 billion in the second quarter and N273.50 billion came in as VAT in the third quarter in that order.

    The figures represented an increase of 2.54 per cent quarter-on-quarter, and 9.16 per cent increase year-on-year.

    Also the report showed that the manufacturing sector generated the highest amount of VAT averaging  N31.48 billion, and closely followed by Professional Services and Commercial and Trading, both generating N25.57 billion and N15.99 billion respectively.

    It further stated that the mining sector generated the least, closely followed by Pharmaceutical, Soaps and Toiletries and Textile and Automobiles and Assemblies with N52.70 million, N177.34 million and N265.35 million respectively.

    In addition, it stated that out of the total amount generated in the third quarter of 2018, N128.62 billion was generated as Non-Import VAT locally, while N58.84 billion was generated as Non-Import VAT for foreign.

    The report however noted that the balance of N86.04 billion was generated as Nigeria-Customs import VAT in the year.

  • Is Nigeria sliding back into recession?

    Widespread fears over the possibility of the country suffering economic depression soon after exiting recession has set concerned Nigerians on the edge, report Ibrahim Apekhade Yusuf and Charles Okonji

    It’s exactly a year since Nigeria was technically declared out of recession with assurances by the economic managers that efforts would be expedited to set the country on a growth trajectory aided in part by clearly defined economic recovery plan.

    Expectedly, the government Economic Recovery and Growth Plan (ERGP) was introduced just in time to get the economy back on an even keel.

    As proof that things may be in the upswing, the National Bureau of Statistics (NBS) in a release said the economy had exited recession as shown in the results of the second quarter of 2017 with a Gross Domestic Product (GDP) growth rate of 0.72 per cent.

    According to the release, the GDP growth rate rose to 1.17 per cent in the third quarter of 2017, 2.11 per cent in the fourth quarter of 2017 and 1.95 per cent in the first quarter of 2018.

    Interestingly, the projection of the International Monetary Fund that the economy would grow by 2.1 per cent by the end of 2018 was also lauded by the NBS as something achievable.

    Economic measures skirting around the issue

    It however remains to be seen if such plans have actually impacted the economy positively thus far as in view of concerns raised by economic watchers.

    In the opinion of those who hold the levers of the economy they are hardly convinced that things are in the clear. As far as they are concerned, the numbers don’t add up yet.

    In the view of Mr. Olusegun Oshinowo, Director General of Nigeria Employers’ Consultative Association, the economic uncertainties occasioned by lingering recession, led to a gale of job loss in the past few year, especially in the organised private sector.

    Specifically, he said, “The unemployment situation is worrisome. We have a youthful population, which ordinarily should be a demographic blessing but unfortunately has become an economic challenge in terms of providing gainful employment.”

    The NECA boss, who also serves as a Director of Nigerian-German Chemicals PLC including boards such as the Nigeria Social Insurance Trust Fund (NSITF), Nigeria Labour Advisory Council, National Pension Commission (PenCom), National Orientation Agency, and the National Health Insurance Scheme, lamented that there is quite a lot wrong with the system.

    “We are not yet there at all. If you are talking about green initiatives, you are talking about green jobs. The stage we are now really, going by the statistics the NBS released recently, almost about 12.2million Nigerians are unemployed. I can tell you that is quite conservative, very, very conservative. In fact, I won’t believe it because if 75 per cent of our populations are youths and you apply the unemployment rate in Nigeria to that youthful hands in our demographic profile, the figure you will get, will be far more than 12.2million. Now, if you want to promote a green job initiative, the issue is that, when you look at the environment in Nigeria, what type of job is the Nigerian economy capable of producing now.

    “We have got to be really honest with ourselves; there is nothing near in the economy of green jobs. Our priority actually is to make our economy grow to a level where it can generate jobs for millions of our youths. Our youths are not looking for big jobs. They are looking for the jobs or perhaps any job for that matter, to be engaged in. I am saying in the context of Nigeria given the scale of unemployment we are in, what we are interested in really is, are good jobs for our youths. The next level of that engagement can now be whether those jobs are green or not. But let us engage them productively first,” he said matter-of-factly.

    Echoing similar sentiments, the former director general to Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. John Isemede, stated that the country cannot be said to have exited recession with the figures being released for the economic performance of the first quarter (Q1), which recorded growth of 1.95 percent, and the second quarter (Q2) is 1.5 percent.

    Isemede said; “This is an indication that Nigeria is not fully out of recession, and would likely go into depression this time around, if right recovery policies are not put in place and properly managed.”

    The real sector, he observed, “is still wrestling with serious productivity challenges arising from the constraint of infrastructure, particularly power and logistics. It is imperative that efforts are geared towards investment and policies focusing on improving logistics and enhancing the power sector. The manufacturing sector also slowed from 3.39 percent in Q1 to 0.68 percent in Q2 as result massive of infrastructural deficit, and logistic challenges, the Apapa gridlock, access and cost of credit, weak purchasing power and multiple taxation, amongst others.”

    The Chairman, Policy Committee of MAN, who was also the former Chairman of Electrical Group of MAN, Engineer Reginald Odiah, noted that the country is not completely out of recession, but just lucky that more money is generated through the sale of crude oil.

    In the opinion of Dr. Austin Nweze, political economist and faculty member of the Pan Atlantic University, Lagos said, “Everything happening now is artificial. It’s just some kind of manipulation to pretend that all is well. All is not well politically, economically and socially in every facet of Nigerian life. Even the National Bureau of Statistics (NBS) also came out to support what myself and some other people have been saying that unless there is a change of policy the recession will linger on till 2018 unless we begin to do something that will drive domestic production. So we really need to look at that. Recession, as I said will go hopefully towards the end of 2018 or early 2019. Recession does not just happen and it’s not something that’ll just go by wishing it away. You have to make deliberate efforts.

    There’s even a global projection or prediction that by 2018, there will be another round of recession which will further compound Nigeria’s recession. So there’s a problem. If anyone tells you recession is over or simply tries to wish it away, it’s impossible to wish such things away.

    Way forward

    To many analysts, the way out is to begin to invest inwards by looking at domestic production, job creation among other measures.

    “Our focus should be on job creation and not job loss because most of the factors important for job creation will stem job loss. The supply of labour into the economy has far outstripped demand. The problems are double faced: quantity and quality. Given the scope of the problem, we require a multi- pronged approach/solution that will include promotion of sustainable enterprises through an enabling business environment, sustainable and pervasive good governance at all levels of government, effective and job-focused macro-economic policy framework, political restructuring that will lead to creation of multiple productive and economic centres, educational reform to enthrone functionality as against literacy, indigenous employment-supportive immigration policy, comparative advantage-based backward and forward integration. This is the long term solution to our unemployment malaise,” said Oshinowo.

    “As far as I’m concerned, the exchange rate crisis will still be there no matter how they try to manipulate it. The government needs to take advantage of the situation by encouraging domestic production,” Nweze said.

  • Doomed to road slaughter?

    From a National Bureau of Statistics (NBS) stats just released, quoting Federal Road Safety Commission (FRSC) figures, two potent combinations have accounted for deaths, from auto crashes, on Nigerian roads: over-speeding (and other shades of reckless driving) and bad roads.

    Apart from 2014 when it dipped to 4, 430 deaths, fatalities for the past five years have clustered above the 5, 000 mark: 2013: 5, 539; 2014: 4, 430; 2015: 5, 400; 2016: 5, 053; 2017: 5, 049.  Though no one could accuse FRSC of inactivity, it is clear, from these figures, its efforts are not achieving fantastic results.

    Many road users, a good number of them road outlaws that endanger the lives of other law abiding citizens, still appear yoked to their dangerous pastimes.  Something drastic must be done to rein in their menace.

    The FRSC must therefore not only ramp up its enlightenment blitz on road safety, it must also hit hard at road outlaws, who now put other road users in jeopardy, just because they have been lulled into the illusion that no punishment ever comes their way.

    To be fair, however, FRSC has made a lot of progress, as road transport regulators.  Only on September 11, Dr. Boboye Oyeyemi, FRSC corps marshal, while addressing driving school owners in Lagos, Ogun and Oyo states, railed at some unprofessional practices in driving schools, while indicting 71 of such schools, aside from numerous others still being investigated for alleged professional misconduct.

    Such alleged misconducts include schools enrolling trainee-drivers above the schools’ training capacity, graduating drivers with absolutely no training or with training less than the law-mandated 26 hours of driving drill, allegedly hacking into the Driving School Standardizing Programme (DSSP) and conniving, if the cash is right, to circumvent driver-testing, as a core and integrated regimen, of driver licensing.

    But away from sanctions and investigations, FRSC is weighing in with some regulatory best practices: standardization of operational procedures in driving schools, formal driver training with standard curriculum and a reliable database, of registered and accredited standard curriculum. It is also looking into routinizing computer-based testing of drivers, which however is subject to available investment capital.

    These are laudable moves, for sane driving is clearly the genesis of road safety.  So, FRSC should move fast to solidify these reforms, without letting off on punishment for rogue operators.

    But it must also start dealing with sundry defaulters, in vehicle road-worthiness.  Nigerian roads have become a vast dump of broken down articulated trucks, many of them with heavy containers, in the most awkward hour, and clumsiest part of the road.  FRSC should move fast to remove this umpteenth nuisance.  If it did, it would have removed a major trigger of auto crashes and allied road accidents, many of them fatal.

    It must also, in close collaboration with Federal and state governments, bring back road sign culture.  It is scandalous, to say the least, that you could drive on many Nigerian highways without any signage, whether on boards or small roadside pillars,  stipulating the maximum speed limit.  Yet, over-speeding is one of the major causes of road crashes.

    Aside from pouring more resources into fix roads nationwide, the Federal Government should also invest more in FRSC materiel, particularly heavy duty vehicles and cranes it always needs to clear the road, after any major crash.  That way, its operational efficiency would be boosted.

    Nigeria can’t afford to continue losing more that 5, 000 souls on the road every year.  The modern car is configured with safety as its core essence.  Therefore, this slaughter on the roads is wanton and should be stopped.  If it is not, FRSC would have failed in its core mandate.

     

  • Judges, police, others receive N402bn bribe – NBS

    The National Bureau of Statistics (NBS) on Tuesday disclosed that bribes totaling N402bn were paid to judges, police, customs officers, public utilities officers, teachers/lecturers, doctors, etc. in 2016.

    The largest public sectors to receive these bribes were the police, judges and magistrates, and customs officers.

    Director, Real Sector and Household Statistics, NBS, Dr. Isiaka Olarenwaju, said this at the Stakeholders Summit on Corruption in Nigeria in Abuja on Tuesday.

    The summit was themed Evidence Based Interventions for Collective Impact and centered on mobilizing youth to fight corruption in any and all spheres of society.

    According to Olarenwaju, the National Corruption Survey which reported as from August 2017, almost a third of Nigerian citizens pay bribes when in contact with public officials.

    Read Also: CJN to judges: Be courageous

    “Out of 100 individuals only 20 would refuse to pay bribes,” he said.

    “Nigeria has experienced this menace for a long time but is now tackling it head on.”

    Assistant Director, Education Department, Independent Corrupt Practiced Commission, Azuka Ogugua, hampered on the need for educational reform to sensitize youths on anti-corruption.

    “No nation can rise above the level of our educational standard,” she said.

    “ICPC is applying renewed vigor to proactive corruption prevention and anti-corruption education in the strong belief that therein lies sustainable gains in the anticorruption crusade.

    “We are working towards the prevention of corruption via system study.”

    She also implored Nigerians play their own parts by using the ICPC hotline to report any cases of corrupt acts, processes and procedures.

  • Ex-CBN chief seeks establishment of bank for women

    A former Deputy Governor of the CBN, Prof. Kingsley Moghalu, has called for the establishment of a “Bank for Women” to boost women enterprise in the country.

    Moghalu made the call at the Chartered Institute of Bankers of Nigeria (CIBN) 2018 Annual Lecture on Friday in Lagos.

    The theme of the lecture is: “Of Banks and Bankers: Finance and the Challenge of Economic Development in Nigeria”.

    He said that 46.6 per cent of Nigerian women lacked access to financial services, despite the fact that they were highly productive.

    Moghalu urged the banking sector to do whatever it could to establish the bank, to facilitate wealth creation by women.

    The ex-CBN chief described Nigerian women as enterprising, better borrowers and loan payers than men.

    He also argued that that over exposure to the oil and gas sector had aided non-performing loans when the value of the oil and gas sector dropped.

    Moghalu said that reforms by the CBN to buy non-performing loans and aid financial stability had proved unsuccessful.

    “So out of the little credit left, over 77 per cent was concentrated in Lagos, sidelining, women in rural communities.

    Read Also:  2019 Elections: Don’t sit back, Lagos lawmaker charges women

    “No economy can sustain inclusive growth under such circumstance and this would lead to infrastructural epilepsy,” he said.

    The President of the CIBN, Mr Uche Oluwu, noted that Nigeria currently faced serious economic challenges.

    According to him, there are still notable gaps in the country’s development, despite exiting economic recession in 2017 after five consecutive contractions.

    “These gaps, according to the National Bureau of Statistics’ report on macro-economic indicator, revealed that unemployment rose steadily to 18.8 per cent in third the quarter of 2017 from 13.9 per cent in the third quarter of 2016.

    “Infrastructural deficits and alarming low literacy rates, are pointers to deep deficient human capacity development among others, plaguing the great nation.”

    He charged the banks, through their wealth creation, to play significant roles in allocating resources for infrastructural development.

    Olowu applauded banks for their support for Micro, Small & Medium Sized Enterprises (MSMEs).

    “However, I plead with our banks to be resolute in supporting MSMEs across various productive sectors of the economy and the adjoining value chains.”

    NAN

  • Nigeria’s inflation drops to 11.61 % in May – NBS

    The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI), which measures inflation for May, decreased to 11.61 per cent (year-on-year) from 13.34 per cent recorded in April.

    The NBS disclosed this in its CPI and inflation Report for May released on Wednesday in Abuja.

    According to the bureau, this figure is 0.87 per cent points less than the rate recorded in April.

    The bureau said the figure showed 16 consecutive reductions in inflation rate since January 2017.

    The report stated that increases were recorded in all the Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.

    On a month-on-month basis, the bureau said the Headline Index increased by 1.09 per cent in May, up by 0.26 per cent points from the rate recorded in April.

    It stated the percentage change in the average composite CPI for 12 months period ended May over the average of CPI for the previous 12 months period.

    Read Also: NBS: Nigeria’s inflation dips to 12.48%

    It, however, measured the CPI at 14.79 per cent in the period under review, showing 0.41 per cent point lower from 15.20 per cent recorded in April.

    The report further showed that the urban inflation eased by 12.08 per cent (year-on-year) in May from 12.89 per cent recorded in April.

    In addition, it stated that the rural inflation also eased 11.20 per cent in May from 12.13 per cent in April.

    On month-on-month basis, it stated the urban index rose by 1.10 per cent in May, up by 0.25 per cent from 0.85 per cent recorded in April.

    Also, it noted the rural index rose by 1.08 per cent in May, up by 0.26 per cent from the rate recorded in April (0.82) per cent.

    According to the report, the corresponding twelve-month year-on-year average percentage change for the urban index was 15.10 per cent in May.

    This, it stated was less than 15.47 per cent in April, while corresponding rural inflation rate in May was 14.53 per cent compared to 14.95 per cent recorded in April.

    Meanwhile, NBS said the composite food index rose by 13.45 per cent in May compared to 14.80 per cent in April.

    The bureau stated that the ‘’All items less farm produce’’ or Core inflation, which excluded the prices of volatile agricultural produce stood at 10.7 per cent in May 2018.

    This, it noted was down by 0.2 per cent from the rate recorded in April, which was 10.9 per cent.

  • NBS says average price of petrol dropped in May

     The National Bureau of Statistics (NBS) says the average price paid by consumers for Premium Motor Spirit, (Petrol) decreased to N150.2 in May from N151.4 paid in April.

    The NBS, in its “Premium Motor Spirit (Petrol) Price Watch’’ released on Tuesday, said the price decreased by -0.3per cent year-on-year and -0.8per cent month-on-month.

    According to the report, states with the highest average price of PMS are Borno (N166.08), Benue (N160.31) and Akwa Ibom (N159.44), while the states with the lowest average price are Katsina (N144.82), Kano (N144.87) and Bauchi (N144.93).

    Meanwhile, in the bureau’s “National Household Kerosene Price Watch’’ the price of Kerosine per litre increased from N278.49 in April to N280.29 in May.

    Read Also: NBS: Nigeria’s inflation dips to 12.48%

    “Average price per litre paid by consumers for National Household Kerosene increased by 0.65 per cent month-on-month and decreased by -7.58per cent year-on-year to N280.29 in May from N278.49 in April.

    “States with the highest average price per litre of kerosene were Abuja (N327.50), Yobe (N313.33) and Cross River (N310.19), while those with the lowest average price per litre are Borno (N233.33), Abia (N235.53) and Kogi (N251.04),’’ the report said.

    According to the report, the average price per gallon paid by consumers for National Household Kerosene increased by 0.80per cent month-on-month and decreased by -5.12per cent year-on-year.

    It noted that the price paid by consumers for a gallon for kerosene increased to N983.67 in May from N975.82 paid in April.

    States with the highest average price per gallon of kerosene were Jigawa (N1143.33), Yobe (N1130.00) and Adamawa (N1088.89).

     

    NAN

  • On Lagos’ fresh employment initiatives

    Obviously, there exists a large army of unemployed youths in our country. According to a latest National Bureau of Statistics report, the country’s unemployment rate is 14.2%. But this number still did not include about 40 million Nigerian youths captured in World Bank statistics in 2009. By implication, it means that if Nigeria’s population is 180 million, then 50% of Nigerians are unemployed, or worse still, at least 71% of Nigerian youths are unemployed. This is particularly disturbing.

    Since Lagos State is home to about 21million Nigerians, it is safe to affirm that the State, which is the fifth largest economy in Africa, feels the brunt of the menace of youth employment the most. That Lagos alone accounts for over 70% of national industrial investments makes it attractive to job seekers from all across the country.

    In Lagos, unemployed youths fall into various categories viz employable and unemployable degree holders, medium level education certificate holders, school certificate holders and drop outs and those who never made it beyond primary schools. Stark illiterates also swam on the State on a daily basis, seeking jobs.

    In order to frontally address the State’s peculiar unemployment question, the State government has put in place several new initiatives alongside existing ones. For instance, to prepare graduates for life after school, Ready-Set-Work was launched. It isan entrepreneurial and employability training programme aimed at ensuring that every student who graduates from any tertiary institution in Lagos has knowledge, skills, and attitude required to gain employment upon graduation.

    The 13-week training programme prepares final year students for immediate entry into the workforce as employees and employers of labour by equipping them with market- aligned soft skills, business tools, and a mindset re-orientation to the world of work. Since its inception in 2016, 12,500 students have benefitted from the programme.

    Another fresh strategy being deployed to tackle unemployment in the State is the revamp of technical education. Technical education is the form of education that prepares people for specific trades, crafts and careers at various levels. As our country aspires to diversify its economy; it is evident that a vital instrument needed for attaining such height is skilled manpower development and a competent workforce.  It is in order to address this need that the State government has been boosting technical education in the State.

    The collapse of many industries and the limited capacity of government at various levels to employ the teeming population have made white collar jobs practically non-existent. However, there exists job opportunities in other areas that our youths need to be sufficiently equipped to exploit. In the construction industry, for instance, there abounds limitless opportunities for youths with relevant skills for gainful employment. Sadly, this is not being fully exploited because of lack required competence. Thus, to get the needed good hands, property entrepreneurs go to neighbouring Benin Republic, Togo, Ghana and Cameroon.

    Presently, the Lagos State government is laying great emphasis on technical education to reverse the trend. Hence, the 5 Technical and Vocational Colleges in the State have been rehabilitated and properly equipped while advocacy campaigns have been stepped up to get more students enroll into the colleges. Steadily, the efforts are paying off as enrolment into the colleges has increased by 120%, a situation that has spurred approval for the establishment of 3 additional Technical Colleges in the State.

    Read Also: Lagos, Ambode and 2019

    The State government is equally partnering with several firms to further develop technical education through the setting up of Academies within the Colleges. Notable among these are Samsung (Engineering Academy), Electrical Power Engineering (Power Academy), Automechatronics (Automotive Academy) and Julius Berger (Construction Academy). The good thing about this development is that some of them provide instant employment for grandaunts of these colleges since they can vouch for their competence. For instance, 26 graduates of the State’s Technical Colleges were recently recruited by Dangote Groups as Technician Trainees at Dangote Academy, Obajana while 115 Graduates in Electrical Installation were recruited by Ikeja Electricity Distribution Company.

    To further exploit the current momentum, the Lagos State Technical and Vocational Education Board has  collaborated with General Electric for the training of students and Instructors on 3D Printing Technology and Kansai Plascon on Human Capacity Development for fifteen (15) Instructors in Painting and Decorating. The quality of training has also led to the employment of some graduates of the colleges while many have equally become self- employed.

    In order sustain existing progress in terms of enhanced job opportunities, the agriculture and agro business sector, with huge capacity for mass employment, is equally being creatively explored. Thus, the Agric Yes programme is being vigorously pursued to train students, school leavers and graduates in Agro related enterprises at Araga in Epe. Upon completion of training, land, accommodation and other vital tools needed to start off are provided for those who choose to stay back in the Farm Settlement while those willing to practice elsewhere are equally supported to stand on their own.

    Also, in order to really catch in on the job creation potentials of ICT, the State government introduced Code Lagos, an initiative aimed at teaching 1 million Lagos residents to code by 2020. In May 2017, the programme launched a successful pilot phase with 67 schools, comprising both public and private schools, which exposed over 5464 students to the Code Lagos Coding Framework.

    According to ICT experts, knowledge of coding is important not only to individual students’ future career prospects, but also for their countries’ economic competitiveness as well as the ability of technology industry to unearth qualified personnel. In our technologically enhanced world, people with excellent ICT skills stand better chance of being self reliant entrepreneurs. Currently, Code Lagos has trained over 31,000 Lagosians to code while 364 Coding Centres have also been set up in 352 primary and secondary schools as well  12 Out-of-School Centres located in Yaba, Ikorodu, Meiran, Surulere, Ipaja, Ilupeju, Isolo, Onikan, Ikeja and Fadeyi. By June, 2018 another set of 1,260 Lagos residents will commence coding classes in the 12 Out-of-School Centres.

    Plans are currently underway to expand the programme to run in 1500 primary and secondary schools as well as 50 Out-of-school Centres across the State by the end of this year. The goal is to ensure that 100,000 Lagosians are trained by September 2018 and 150,000 by December 2018. Once the Code Lagos initiative has been sparked there is no telling where it may end. Founders of Microsoft and Facebook had good technical skill and programming ability as well as many other skills. These and few other well known personalities can be cited in computer coding classes to encourage more youths to take keen interests in ICT.

    No doubt, with the conception and execution of more strategic plans, it is envisioned that unemployment will considerably reduce in Lagos. It is, however, important to stress that we need to alter the curriculum of our tertiary education to embrace courses that fit into current socio-economic reality. Indeed, more emphasis must now be placed on technical education and skill acquisition.

    Ogundeji is Deputy Director, Public Affairs, Lagos State Ministry of Education, Alausa, Ikeja

  • ATMs record transactions worth N1.56bn Q1 – NBS

    The National Bureau of Statistics ( NBS ) says Automated Teller Machines (ATMs) from selected Banks across the country, recorded transactions valued at N1.568 billion in first quarter.

    The NBS stated this in its Selected Banking Sector Data for First quarter, 2018, posted on its website.
    The bureau stated that a total of 457,226,406 transactions valued at N32.48 trillion were recorded in the first quarter on Electronic Payment Channels in the Nigeria Banking Sector.
    It, however, stated that ATM transactions dominated the volume of businesses recorded by the banking sector which was 212,370,853 transactions.

    Read Also: FG receives N263.28bn from FAAC allocation in Feb – NBS

    In terms of credit to private sector, the report stated that a total of N15.60 trillion credits were allocated by the banks in the quarter.
    It stated that the Oil and Gas and Manufacturing sectors got credit allocation of N3.42 trillion and N2.07 trillion to record the highest credit allocation within the period under review.
    The report also stated that the number of banks staff decreased by -0.93 per cent from 90,453 in the fourth quarter of 2017 to 89,608 in the review period.

    NAN