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  • ‘Innovation key to construction industry’

    THE Construction Manager, Alaro City, Bailey Ligtas, said the firm has adopted innovative infrastructure building systems that serve as benchmark for new cities in the country.

    Speaking with reporters after a tour of the city in Lekki Free Zone (LFZ), Lagos, he said the road was designed by leading engineering firm, Over Arup & Partners, the first of four major access points from the Lekki-Epe Expressway, just metres from the gate of Alaro City.

    “Alaro City is also developing an independent power plant solution by connecting to a nearby gas pipeline. Water supply for the first phase is also at an advanced stage,” he said.

    Its CEO, Odunayo Ojo, said the city has already sold out phase one of its residential “buy-and-build” plots, with phase two well underway, adding that several individuals, regional and multinational companies are building commercial and industrial facilities in the city.

    “Alaro City lies in the growth path of Lagos and aims to serve as a model for what a modern mixed-use city looks like. We have partnered with renowned experts in various fields to ensure that our culture of high standards is sustained.”

    Launched in January,  the city is planned as a 2,000-hectare new city located in the Northwest Quadrant of the LFZ.

    The city will include industrial and logistics locations, complemented by offices, homes, schools, healthcare facilities, hotels, entertainment and parks and open spaces.

    The project is a joint venture between the Lagos State government and Rendeavour, the largest new city builder in Africa.

    In building Alaro City, Rendeavour provided solutions to urban planning and city-building problems unique to Lagos.

     

  • ‘Adopt Fayemi’s anti-poverty, school dropout policies’

    Former Special Assistant (SA) to the Chairman of the House of Representatives Committee on AIDS, Loans and Debt Management, Adesola Adedayo Gold, has urged all Nigerian governors to adopt Ekiti State Governor Kayode Fayemi’s anti-poverty policies.

    Adebayo listed the policies as free education, regular payment of workers’ salaries and pensions, to better the lives of the citizens.

    The All Progressives Congress (APC) chieftain noted that placing a high premium on the two pivotal areas had changed the Ekiti economic landscape and brought new lease of life among the masses across the state.

    Addressing reporters at Osun Ekiti in Moba Local Government Area, God said Fayemi, within one year in office, had been able to change the wrong perception that Ekiti was not economically viable.

    The ex-SSA, who is also a former Executive Assistant in the office of the Millennium Development Goals (MDGs) in Osun State, noted that with Fayemi’s initiative and passion for education, it is now a criminal offence in Ekiti, with stringent punitive measures carrying many years of jail term, for parents to keep children of school age out of schools.

    “Under Ayodele Fayose-led government, pupils of public and private primary and secondary schools were paying taxes under the guise of development levy, which deprived many pupils from poor backgrounds of good education.

    Read Also: Aregbesola promises consolidation of policies, reforms

    “The economy of Ekiti was mainly built on the civil service structure. Before Governor Fayemi came on board, the Peoploes Democratic Party (PDP) government was owing between five and eight months of workers’ salaries. That of pensioners was nine months, which increased the poverty level and destroyed our economy.

    “With regular payment of salaries, the economy has changed for better. Investors have now seen Ekiti as a veritable avenue to invest their money as evidenced in the return of Guarantee Trust Bank (GTB) and other global partners, like the British Department for International Affairs (DFID), to Ekiti.

    “Recent statistics showed that Ekiti has 100 per cent compliant with enrolment of children of school age, thereby making the state to rank first in Nigeria. This has further reignited our pride as the Fountain of Knowledge and gave us a good future as a state.”

    The former House of Representatives aspirant in Ekiti State praised the governor for expanding the state’s scholarship to benefit from secondary to PhD level.

    He noted that this would restore the Ekiti glory as the real education nerve-centre of the nation.

    On infrastructure, Gold said Fayemi was giving Ekiti a facelift with the completion of the Ekiti State Civic Centre and the revamping of Ero and Egbe dams to supply potable water to 14 local government areas.

    “The turnaround maintenance of the two dams has brought about the world bank partnership with Ekiti for the laying of 250 kilometres water pipes in Ado-Ekiti metropolis. Olorunda and Olorunsogo areas are major beneficiary of this policy.

    “Some intra-city roads in Ado-Ekiti have also been tarred like Ajibade-Okeila road to ease traffic flow in the capital city.

    “The fight against open defecation is also gathering momentum because Ekiti is ranked first in Nigeria. With the advent of Rural Water Supply Policy being engineered by Fayemi administration and provision of toilets in partnership with the United Nations Children’s Fund (UNICEF), Ekiti will become open defecation-free in 2021. The pilot scheme in Ekiti West and Gbonyin local government areas confirmed this projection,” he said.

    Gold added that the state government’s sustained fights against female genital mutilation, gender-based violence, child trafficking and slavery have made Ekiti a pride and pacesetter to other states in the country.

  • Buhari woos German investors on infrastructure

    PRESIDENT Muhammadu Buhari on Thursday said  the nation was  looking for investors in infrastructure, especially in the power sector to stimulate business growth.

    He assured German companies that the government will honour the terms of agreements on investments in the country.

    President Buhari spoke when he received Letter of Credence from the Ambassador of Germany, Birgitt Ory, at the State House.

    The president, in a statement by the Special Adviser on Media and publicity, Chief Femi Adesina, said the agreements signed with Germany company, Siemens, on power was most welcoming for the country, and Nigeria looks forward to partnerships that will be mutually beneficial.

    He said the country remained grateful to Germany for humanitarian interventions in the Northeast for the Internally Displaced Persons (IDPs), and the visit of the Chancellor, Angela Merkel, to the country in August last year, which further strengthened bi-lateral relations.

    In her remarks, the envoy said it was a great privilege to serve in Nigeria, which had always been her aspiration.

    She described the country as “the biggest and most important country in Africa.

    “When I came to Nigeria last year in May, which was also my first time in Africa, as soon as I stepped out of the plane, I said this is where I will like to work.’’

    Read Also: Buhari backs PSC in tussle with IGP over employment

    Amb. Ory congratulated Nigeria for holding two key positions in the United Nations, Deputy Secretary General, Amina Mohammed, and President of the UN General Assembly, Prof. Tijani Mohammad-Bande, saying the country’s rising global profile reflects its pivotal role in Africa and the African sub-region.

    The German envoy assured Buhari that she will work towards improved relations between both countries, commending him for Nigeria’s role in Economic Coomunity of West African States (ECOWAS) with renewed focus on economy and security.

    Buhari, who also received Letters of Credence from the Ambassador of Ethiopia, Azanaw Tadesse Abreha, encouraged diplomats to stay longer in the country in order to understand the dynamics of the culture, economy and landscape.

    He said: “Nigeria is big and versatile and requires longer period of stay to be understood.

     

  • Indian firm eyes transport sector

    AN Indian multinational  firm, Thirukkurungudi Vengaram Sundram (TVS), Motor Company, has promised to invest more in the transport sector in the country in an effort to develop the sector and ensure fast and easy mode of transportation in the country.

    Its Executive Vice President, R Dilip, said the investments so far in the transport sector in the country has created jobs and ease mobility for commuters.

    Dilip spoke ahead of TVS studio launch in Abuja and announcement of TVS Hlx series of motorcycles, which was launched in 2013 and has crossed one million units milestone in sales across Africa.

    He said TVS Hlx series has been instrumental in transforming millions of lives in the country and across Africa.

    He said the immediate focus of the company is to ensure that TVS Hlx is available across the entire continent of Africa.

    Dilip said: “We keep customer insight at the centre of all our offering which helps us identify the gap in their requirements and provides products accordingly.

    “We, take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We endeavor to deliver the most superior customer experience across 60 countries.

    “Nigeria is an important market for TVS Motor Company and we have been present here for over a decade. With the help of our distributor TVS Simba, our products have found acceptance in the market with TVS HLX becoming the fastest growing motorcycle in its category. The quality and reliability synonymous with TVS Motor Company has resonated strongly with our customers. The investments made by the company and our distributor, particularly in our assembly plants and service centres based across the country, have been critical to this.

    “TVS HLX series is our leading brand in the African continent since launched in 2013. It has stayed true to the brand’s promise of being a sturdy product which is highly reliable across tough terrains. The series is synonymous with fuel efficiency, durability and comfortable suspension.”

     

  • FMBN needs N500b to achieve affordable housing

    THE Federal Mortgage Bank of Nigeria (FMBN) has urged the Federal Government to look into the need to recapitalise the Bank with N500biillion.

    Speaking with reporters in Calabar at the opening of the bank’s two-day zonal retreat for Southsouth region, the Executive Director, Business Development and Portfolio Management in the bank, Umar Abdullah said management has put forward to the government the need to recapitalise the bank to the tune of N500 billion.

    He said if this is done, the bank can expand the mortgage market.

    Umar said: “The bank was created with a per capital base of just N5 billion and it is the foremost secondary mortgage market. The reality is that the bank can no longer cope with the reality on the ground. Today, even the primary mortgage bank has a capital base of N5 billion and you can imagine the foremost secondary mortgage market in Nigeria, FMBN relying on the N5billion capital base. The situation needs review.”

    He said so far, the current management of the bank within the last two years, has been able to refund N18 billion to contributors of the National Housing Scheme (NHS) who retired without getting the expected benefits.

    Umar said: “We have achieved tremendously and one of the areas where Nigerians have a bad impression about the bank is in refunds as it concerns the National Housing Fund scheme; the backbone of the bank is the National Housing Fund scheme; the mandatory contribution scheme where all Nigerians are expected to contribute. Nigerians retired without getting their funds and we got that bad image.  I want to assure you that today as we are talking, we have refunded N24 billion to Nigerians and out of that N24 billion, it is this incumbent management that has refunded N18 billion.

    “We have reviewed the situation, improved on it and are now paying back the contributed money because the contributed money is still in the bank and has not been tampered with. The problem is with the procedure and the pressure.

    “Sometimes people apply for their funds and it takes years after retirement and they cannot access it, but that is no longer the case with this management because there is a paradigm shift and Nigerians are now happy with what we are doing because you can now get your money within 30 to 60 days after applying for it.

    “One of the problems of the mortgage market in Nigeria is affordability because the majority are the low-income earners and as the economy is growing, the income also has to grow. The bank is for the Nigerian workers and we must make housing affordable to the workers and that is why we are saying that the interest rate must remain at the single-digit which is six per cent. The new management is up to the task and are doing everything possible to increase the housing stock in Nigeria and are working with all stakeholders towards that.”

    Umar told participants in the two-day retreat that the purpose was for cross-fertilisation of ideas between the head office and the zonal/ field offices so as to have a better understanding of serving the public better.

     

  • Firm launches new POS machines for the unbank

    Click Power Enterprise Limited in partnership with a Chinese firm, SZFP Technology Limited has launched a new Smart and Mini  Point of Sales (POS) Terminal that is handy, pocket friendly and is easy to operate in unbank areas.

    The Co-Founder of Click Power Enterprise Limited, Patrick Amalaha announced it at the introduction of the product held recently in Lagos, said that the device is to be sold to mobile money operators such as banks and other bodies who uses point of sales services for their businesses.

    He said that we are also into agency banking which is part of our core business and we are partnering with GTBank and we hope to extend it to other banks.

    “We are working hard to build a seamless integrated platform with our agency banking with  the organizations  that we are partnering with” he said.

    He posited that the agency banking introduced by the Central  Bank of Nigeria is evolving and we want to support the initiative with the pocket friendly POS box that will ensure seamless financial transaction for both corporate organization and unbank areas.

    “We intend to reach the least banking areas, areas where they don’t have access to bank. These include market women, petty trader who wants to have access to financial services. Our agency is poised to give Nigerians financial access through this platform”, he said. .

    Amala added We have smaller devices that can be connected to your bank account. Banks will take care of the bank end and you do your business seamlessly. The uniqueness of this product is accessibility, carriability  and user friendly interface and easy integration.

    He noted that the POS work with individuals and institutions with a corporate account with the bank but click power can cover for individuals without a corporate account with its click power wallet housing with the bank and the bank will link it to their products.

    Also, in his words, the Business Development Manager of Click Power Enterprise limited, lkdnna Ezewaroke said that the partnering company SZFP that produces the products has predeigree and a track record of success.

    He said that the devices they are bringing and terminal application management system are very robust and its support the kind of business we want to do in that space.

    “Banking in Nigeria is evolving and we have gone the extra mile to make the agency banking more effective in its financial transaction”, he said.

    “We have working toward engaging 10,000 to 15, 000 merchants across the country and we will leverage our experience in the banking system”, he said.

    He added that the organization has put in place 24 hours non stop contact service where issue regarding merchants, card holders  and people on our platform can be address.

  • Dangote: We’ve created 25,000 jobs in cement sector

    THE President/Chief Executive Officer, Dangote Group, Alhaji Aliko Dangote  said Dangote Cement Plc alone provides jobs to over 25,000 people across the nation.

    He said the firm has operations not only in Nigeria but in 14 other African countries, adding that  it has 29 million tons installed capacity for cement production and expected to increase to 35 million by 2020 in the country.

    Speaking at the official commissioning  of the  N85 million Chemical and Non-Metallic Employers Federation House (CANMPEF House), built by CANMPEF, Dangote said the  Group  has contributed to the nation’s successful transition from being world’s largest importer of cement to self-sufficiency in cement and indeed net exporters of cement.

    He said:  ‘’I am aware that CANMPEF is Nigeria’s largest employer’s federation, with your members spread in various locations across Nigeria, and fully engaged in various value-added activities that are creating wealth and employment for millions of Nigerians.

    Dangote and the Group Managing Director, Access Bank, Dr Herbert Wigwe, commended President Muhammadu Buhari for contituting the Economic Advisory Council (EAC).

    ‘’Under the present administration, our operations have continued to thrive and we are investing in capacity expansion because of the enabling environment created by the government’s economic polices.

    Read Also: Waiting for Dangote refinery

    ‘’We welcome the recent constitution of an economic management team which will further strengthen the confidence of investors and other players in the economy.

    “The team will redefine Nigeria’s economy and restore its vibrancy,”  he said.

    Wigwe said the EAC will redefine Nigeria’s economy and restore its vibrancy.

    He spoke on Thursday during the opening of new branch of Access Bank in Ipetu-Ijesha, Oriade Local Government Area of Osun State.

  • Oscar rejigs board for Nigerian film entries

    The Academy of Motion Picture Arts and Sciences (AMPAS) has reconstituted a 12-man committee of Nollywood stakeholders ahead of the 2020 Academy Awards, popularly called The Oscars.

    Comprising old and young Nollywood stakeholders, the newly constituted Nigerian Oscars Selection Committee (NOSC) is headed by pioneer member, Chineze Anyaene as Chairman.

    Other members are: Mildred Okwo, Mahmood Ali-Balogun, Ngozi Okafor, Charles Novia, Abba Makama, Bruce Ayonote, Ramsey Nouah, Chioma Ude, Shaibu Husseini, Adetokunbo ‘DJ Tee’ Odubawo and C. J Obasi.

    “We don’t take this for granted. We hope the committee fulfils its original mandate, which is to give a platform to credible Nigerian films to compete at the prestigious Academy Awards annually,” said NOSC Chairman Chineze Anyaene.

    “We couldn’t make any submissions in previous years due to unavailability of qualifying films, but things are looking hopeful… and we are actively working towards having an entry this year,” he added.

    Nigeria joined 82 other countries in contesting the Foreign Language diadem, now called ‘International Feature Film’ category, after an approval and subsequent inauguration of the NOSC in February 2014.

    But Nollywood could not present any film for the Oscars as the few submissions did not meet basic criteria.

    The International Feature Film of the Oscars gives opportunity to Nigerian filmmakers living in Nigeria and Diaspora for a shot at the foremost creative industry award scheme globally.

  • ‘How repentant Boko Haram members were resettled’

    Chief of Defence Staff (CDS) General Abayomi Olonisakin has explained how repentant Boko Haram members were resettled.

    The CDS, who spoke on military efforts to rid the nation of terrorism, described Operations Safe Corridor “as a global model in combating insurgency in the world”.

    He said the operation helped to de-radicalise, demobilise, rehabilitate and reintegrate repentant insurgents into the society.

    Olonisakin spoke on Thursday in Abuja when Gombe State Governor Muhammadu Yahaya visited him at the Defence Headquarters (DHQ).

    The CDS explained that the operation is a non-kinetic multi-national and multi-agency humanitarian operation conducted in accordance with extant international human rights and humanitarian laws.

    He added that it was a rare window to encourage willing and repentant Boko Haram terrorists in the Northeast to surrender and shun violence.

    In a statement by the Acting Director of Defence Information, Col. Onyema Nwachukwu, the CDS said the essence of Operations Safe Corridor was “to demobilise, de-radicalise, rehabilitate and to reintegrate repentant insurgents into society”.

    He added: “I must say that this model has been replicated by many countries, and series of organisations and groups have come here to study that particular model, to know how we achieved it.”

    Read Also: Boko Haram, ISWAP fleeing to North, Central Africa, says Army

    Assuring the nation that the military was committed to performing its constitutional role of providing peaceful and enabling environment in the country, Olonisakin said: “The Armed Forces of Nigeria (AFN) would continue to develop strategies to address challenges arising from its operations in the Northeast in order to wipe out the insurgents from our country.”

    The CDS hailed Yahaya and Gombe State residents for providing the facility that housed Operations Safe Corridor.

    He said aside kinetic operations, the AFN, as a matter of deliberate policy, carried out other initiatives, such as provision of social services to host communities in operational theatre.

    According to him, the AFN is not only trying to win the war but to also win the peace.

    Olonisaking assured Nigerians that the challenges associated with Operations Safe Corridor facility and the National Youth Service Corps (NYSC) orientation camp in Gombe State would be addressed by appropriate superior authorities with a view to ensuring the sustenance of the de-radicalisation programme.

    Yahaya lauded the efforts of the AFN in tackling security challenges through robust engagements and initiatives that have yielded positive results, particularly in the Northeast.

    The governor noted that his state’s proximity to the theatre of Operation Lafiya Dole in Borno, Yobe and Adamawa states resulted in the influx of internally displaced persons (IDPs) into the state.

    He said the displaced persons now reside permanently in the state, thereby resulting in infrastructure deficit.

    Yahaya urged Olonisakin to review the conditions for the use of facilities in Operations Safe Corridor in Kwami Local Government Area to enable the state government overcome some of its challenges.

    Then governor said the visit was meant to enable him rob minds with the CDS on how to improve security in the state.

    He expressed appreciation for Operations Safe Corridor initiative and the provision of social services to the host communities.

  • Fed Govt, states, councils share N720.9b for August

    The Federation Accounts Allocation Committee (FAAC), at its meeting on Thursday, chaired by the Accountant-General of the Federation, Ahmed Idris FCNA,  shared a total of N720.880 billion to the three tiers of government for the month of August 2019.

    The cash comprised revenue from Value Added Tax (VAT), Exchange Gain and gross statutory revenue.

    The gross statutory revenue for the month was N631.796 billion. It was lower than the N674.365 billion received in the previous month by N42.569 billion.

    Revenue from VAT was N88.082 billion as against N94.159 billion in the previous month, resulting in a decrease of N6.077 billion. Exchange Gain yielded total revenue of N1.002 billion.

    A communique issued by FAAC indicated that from the total revenue of N720.880 billion, the Federal Government received N301.804 billion, the states received N188.925 billion, while the 774 Local Government Councils received N142.654 billion.

    The Oil Producing States received N43.513 billion as 13per cent derivation revenue and the Revenue Generating Agencies received N43.984 billion as cost of revenue collection. In addition, the meeting agreed to share N20 billion from Forex Equalisation Fund (FEF).

    Read Also: FAAN retirees to sue management over benefits

    A breakdown of the distribution showed that from the gross statutory revenue of N631.796 billion, the Federal Government received N288.638 billion, the states received N146.401 billion, the Local Government Councils received N112.869 billion, oil producing states received N43.426 billion as 13per cent derivation revenue and the Revenue Collecting Agencies received N40.461billion as cost of collection.

    From VAT revenue of N88.082 billion, the Federal Government received N12.684 billion, the states received N42.280 billion, the Local Government Councils received N29.596 billion and the Revenue Generating Agencies received N3.523 billion.

    The communiqué stated that for the month of August 2019, revenues from Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) recorded significant increases while Royalties, Import and Excise Duties and Value Added Tax (VAT) decreased substantially.

    However, the N20 billion naira from FEF  will be added to the N720.880 billion and share accordingly and will bring the Gross to N740,880

    The balance in the Excess Crude Account is $328.122 million as at 19th September 2019.