The Nation Newspaper

Tag: productivity

  • ‘Productivity critical to transformation agenda’

    ‘Productivity critical to transformation agenda’

    The Minister of Labour and Productivity, Mr Emeka Wogu, has said productivity is critical to the actualisation of the Vision 20:20-20 and the transformation agenda of President Goodluck Jonathan.

    He stated this at a symposium to mark the observance of the 13th National Productivity Day/Conferment of National Productivity Order of Merit Award.

    The minister, who was represented by the Permanent Secretary, Clement Illoh, said the theme of the symposium, ‘’Productivity and competiveness: Determinants for Achieving National Transformation”, was not only relevant, but also apt.

    He said the observance of productivity day was a sign that the present administration was poised to harness all ideas and actions that would meet the aspirations of Nigerians.

    “As you are aware, this government is committed to ensuring that Nigeria becomes one of the largest economies in the year 20:20. Nigeria cannot afford to ignore the importance of productivity and efficiency in all our undertakings. In every country, the main source of economic growth is increased productivity. Productivity can be considered as the comprehensive measure of how effectively resources are used to generate useful output,” he said.

    Wogu said government would leave no stone unturned in ensuring the development of productive mindset that would engender development of the country.

    The Minister of National Planning Commission, Dr Shamsuddeen Usman, said the National Productivity Day was instituted to ensure productivity consciousness and excellence in public and private service.

     

     

     

  • 44 public officers, others bag productivity awards

    The Enugu State Government has honoured 44 public officers and two private firms in the state with the productivity merit awards in recognition of their outstanding performances in the state.

    The awards were presented to Wilson Nigeria Limited, Demacco Optimum Service Limited and the 44 public officers during this year’s National Productivity Day celebration 2013 held at the Michael Okpara Square Enugu.

    Governor Sullivan Chime noted that the cardinal objectives of the celebration was to inculcate the ethics of hard work, discipline and selflessness among workers in the country and also ensure a high level of effectiveness and efficiency in the implementation of private and public policies and programmes.

    The governor who was represented by the Secretary to the State Government, Mr. Amechi Okolo, said the event also reflected government’s efforts and commitments towards attaining and entrenching the culture of efficiency and transparency in the state.

     

  • ‘Poor power supply affecting productivity’

    The Lagos Chamber of Commerce and Industry (LCCI) has said poor power supply is affecting businesses, resulting in reduced competitiveness of finished products.

    Speaking with reporters in Lagos, LCCI President, Goddie Ibru said: “The situation has deteriorated. The development impacted negatively on investment in the first quarter with increased expenditure on diesel and petrol by enterprises. This also comes with declining productivity and competitiveness. Unfortunately, no official explanation has been given for the dwindling performance in power supply.”

    He also said the credit situation has not improved, adding that lending rates were over 20 per cent in the first quarter.

    “The credit challenge was identified as the factor with the biggest negative impact on business confidence.  We reiterate our call for fiscal and monetary authorities to work together to ease the credit conditions, especially for the small and medium scale enterprises, and more importantly, domestic businesses. This is critical as well to stem the gradual crowding out of domestic entrepreneurs by foreign investors.

    He said many small and medium scale enterprises still have serious challenges in accessing credit, even at high interest rate. The tight credit situation is a major inhibiting factor to the capacity of domestic enterprises to take advantage of the robust Nigerian market,” Ibru added.

    Ibru said poor access to credit by indigenous entrepreneurs is the main reason foreign investors are gradually taking over businesses in the country.

    On insecurity, he said the situation has deteriorated and has impacted on investment risk and worsened the nation’s perception and image at the global level.

    “Access to markets in the troubled parts of the country has reduced for many enterprises, and this is already affecting sales and profitability. Also, many enterprises have re-located with the inherent challenges,” Ibru said.

    He said the cost at which the government is borrowing is too high and creating distortions in the market, adding that private sector is being crowded out when investment in treasury bills and government bonds are more attractive than putting money in fixed deposits.

    “There is an urgent need therefore to moderate the growth of domestic debts and free resources for investors in the economy. There should be full compliance with the provisions of the fiscal responsibility Act with regard to debt management,” he said.

    He said borrowing should be on concessional terms with low interest rate and with a reasonable long amortisation period subject to the approval of the appropriate legislative body where necessary.

    He said the government should ensure that the level of public debt as a proportion of the national income is held at a sustainable level as prescribed by the National Assembly on the advice of the minister.

    He said government’s borrowing is also creating liquidity problems in the financial system and crowding out the private sector in the market.

    “The government is borrowing at a high cost of between 14 and 66 per cent, which is one of the highest globally,” Ibru said.

     

  • Youths groomed on productivity

    Youths groomed on productivity

    Fed Govt urged to create jobs

    A manual of success has been provided for the youths. At a summit in Lagos, they were groomed on how to make a good living.

    The Federal Government was equally urged to show commitment to creating jobs as well as providing the enabling environment for productivity.

    A crucial part of that enabling enironment is adequate infrastructures.

    The Executive Director, Nestle Pension Fund Administrator (PFA), Ranti Solesi challenged the government to ensure that youths were given the necessary entrepreneurship skills and training that would enable them to establish small-scale businesses on their own after their education.

    He also called for a school curriculum that will turn out job creators rather than seekers of employment.

    Solesi gave this advice during the Youth Empowerment Summit in Lagos. The programme, which was organised by Jade Academy, an entrepreneurship non-governmental organisation, aimed at instilling positive values in the youth, inspiring them to go beyond their limitations, and achieve their potential.

    The summit employed conferencing, counselling, mentoring and real life success stories to arouse the interest of the youth and to help them to channel their creativity to a rewarding venture.

    Solesi noted that there is disproportionate equation between the available jobs and the number of unemployed youths. He therefore urged them to brace up with the challenges of creativity in order to prevent a total collapse of the situation.

    Delivering a lecture with the theme “The Roadmap to Excellence,” he outlined intelligence, articulation, clear vision, passion and coherence as qualities the youth should imbibe to succeed.

    He said though one could be successful without being excellent, he maintained that one must understand the roadmap in order to reach that level.

    “It is a conscious thing, you don’t stumble on excellence; you simply need to work hard for it and you have to continue to work hard,” adding, what is excellent today might be obsolete tomorrow.

    The founder and convener of the summit, Adebanjo Olorunfunmi, urged the youths to be actively involved in things that would improve their lives which he said included entrepreneurship skills and development trainings.

    She said the academy was committed to promoting vocational education, career counselling and youth empowerment through seminars and workshops to equip them with various skills to enable them to be self-employed.

    She said education is a means to an end, not an end in itself, even as she emphasised the need to marry education with entrepreneurship skills is to raise the leaders of tomorrow.

    Olorunfunmi disclosed that the summit would be replicated in other states of the federation so as to be able to reach out to many more youths.

    She therefore appealed to both the federal and state governments, corporate organisations and other good-spirited individuals to help the academy with funds in order to achieve this objective.

    The founder, Infinity Foundation, Stephen Akintayo, said until we start creating businesses, we may not find a nation that would indeed be the giant of Africa, adding, entrepreneurship is the key to solving Africa’s challenges.