Connect with us

News

NCC begins training of 600 youths in ICT

Published

on

The Nigerian Communications Commission (NCC) has commenced nationwide training of another batch of 600 youths in ICT to make them relevant in the new digital age.

This is contained in a statement issued by the NCC and made available to newsmen on Tuesday in Ibadan.

The Newsmen reports that the two-week-long training, under the Digital Literacy and skills, would commence simultaneously in Ibadan, Lagos, Ilorin, Abuja, and 12 other centres nationwide.

Newsmen reports that the package for the training includes free accommodation and feeding of participants, provision of free laptops, computers, mobile mifi internet devices with three months subscriptions, training materials, and training certificates to the participants.

He  said the policy was aimed at redirecting and repositioning the Nigerian youth towards the digital era through digital job creation programmes.

“This involves a two-week training and capacity building initiative for about 600 youths across the six geopolitical zones that will harness their strength and stimulate/empower them for self-employment,” he said.

The Commission said that the effort would increase contributions of the Information and Communication Technology (ICT) sector to the Gross Domestic Product (GDP) of the Nigerian economy.

According to the Commission, the expected outcomes of the programme shall include, but not limited to, the implementation of digital inclusion via digital job creation, targeted at the youth; “Reach out to the youth who lack ICT training tools to fit into the digital economy and realize their potential through provision of modern ICT tools to support their trade.

It said it would “Create a pool of Master-Trainer-Youths who will serve as mentors and trainers to others in their communities and to enhance their earning potentials.”

The training is aimed at strengthening technical and scientific competencies among Nigerian youth, while improving their ability as trained youth to share experiences using ICT as a medium.

It said that the training would improve access to ICT enabled services such as banking, micro, and macro enterprises systems.

“It will strengthen youths’ ability to use digital skills to process documents for planning and budgeting purposes as well as strengthen the ICT Micro and SMEs sub-sector of the economy.

“Equip artisans/youths with the relevant ICT technical skills for smartphone diagnostics, assemble and repairs. Increase self-employment opportunities and increase access to information,” it said.

The Commission said that the training would increase artisans/youths mentorship ability to transfer knowledge and provide needed ICT tools to trainees to aid their craftsmanship.

News

CIBN backs bank recapitalisation for enhanced economic growth

Published

on

The Chartered Institute of Bankers of Nigeria (CIBN) has expressed support for the planned recapitalisation exercise for banks in the country.

Ken Opara, President/Chairman of Council, CIBN, expressed this during the 2024 annual lecture of the institute on Tuesday in Lagos.

Opara said adequate liquidity within the banking system was fundamental to fostering sustainable economic growth and development.

He said that the recapitalisation would further help banks to deepen liquidity and guarantee access to credit needed for economic growth and prosperity.

He said that CIBN and the Nigeria Exchange Group (NGX) had formed collaborations toward building capacity for the recapitalisation of banks.

Opara added that the institute was also collaborating with Africa Guarantee Fund (AGF) for capacity building for SMEs, preparing them and building their capacity to access finance.

He called for more allocation of credit to the real sector, which was the foundation of the nation’s economic activities for increased liquidity.

Opara stressed the need for addressing challenges faced by the sector to enhance its competitiveness against foreign counterparts.

To resolve the challenges, he urged the government to improve further the ease of doing business and infrastructural development, such as power, roads, and rail networks.

The CIBN president also called for industrial centres where companies could co-habit and share common infrastructure,
harmonise and reduce the various taxes and levies, including locating them in a single hub.

He said the theme, “Improving Availability of Credit in the Nigerian Real Economy: The Critical Importance of Liquidity”, was timely to address current challenges in the nation.

“As we navigate the complexities of our current economic landscape, it has become increasingly evident that ensuring adequate liquidity within the banking system is fundamental to fostering sustainable economic growth and development.

“The real economy comprises the agriculture, manufacturing, construction, and services sectors and serves as the tangible foundation of the nation’s economic activity.

“These sectors collectively represent the intricate web of goods and services that drive economic growth, create employment opportunities, and enhance the overall standard of living.

“Despite the significant relevance of the real sector, access to credit for such key sectors compared to other climes is relatively low,” he said.

He said a survey conducted in more than 40 economies and released by Statista in 2024 revealed that nearly 141 trillion dollars worth of credit was lent to the real sector in advanced economies in the second quarter of 2022.

He added that the figures were twice as high as the volume of credit to the same sector in emerging markets.

He commended improvements in liquidity within Nigeria’s real sector but called for increased credit to sector, particularly agriculture.

“According to data from the Central Bank of Nigeria (CBN), the Net Domestic Credit stood at 66.4 trillion Naira as of December 2022, showcasing the substantial credit extended by financial institutions to the real sector of the economy.

“This figure experienced a significant surge to 96.1 trillion Naira by December 2023, highlighting the tremendous potential for growth and development in the real sector,” he said.

He listed credit volume allocated to the key sectors, saying the Agricultural sector had N5.8 trillion representing about six per cent of the total credit.

He said the manufacturing sector had N19.7 trillion, representing approximately 21 per cent of the total credit, while the services sector had N36 trillion, representing 37.4 per cent of the total credit.

“I humbly propose that we consider offering more credit to these key sectors and particularly the agriculture sector.

“It is for this reason, ladies and gentlemen, that the recapitalisation exercise is a welcome development.

“The recently announced upward review of the Minimum Capital Requirements of Nigeria by the Central Bank of Nigeria would further empower banks to extend more credit to the economy’s productive sectors,” he said.

The Guest Speaker, Prof. Graham Penn, speaking on the theme, explained how other developed countries were leveraging on credit and the need for Nigeria to increase liquidity for economic prosperity.

Penn, a professor of International Finance Law at University College London, listed challenges and measures Nigerian banks, regulators and businesses could adopt to implement laws and regulations to facilitate true sale securitisation.

Continue Reading

News

NERC transfers regulatory oversight of electricity market in Ekiti to state govt

Published

on

The Nigerian Electricity Regulatory Commission (NERC), says it has transfered regulatory oversight of electricity market in Ekiti State to the state Electricity Regulatory Bureau (EERB).
The commission said this in a statement posted on its website in Abuja on Tuesday.
The commission said the transfer was in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).
The statement recalled that with the  Electricity Act (EA) 2023, the commission retains the role as central regulator with regulatory oversight on the inter-state and international generation, transmission, supply, trading and system operations.
According to the statement, the Act also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes.
The statement also said that the state had to request NERC to transfer regulatory authority over electricity operations in the state to the state regulator.
”Based on this, the government of Ekiti complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market in Ekiti.
”The commission in the Order made the following provisions: direct Benin Electricity Distribution Company (BEDC) and Ibadan Electricity Distribution (IBEDC) Company to incorporate a subsidiary (BEDC SubCo and IBEDC SubCo).
”The two distribution companies are to assume responsibilities for intrastate supply and distribution of electricity in Ekiti State from BEDC and IBEDC.
”BEDC and IBEDC shall complete the incorporation of BEDC SubCo and IBEDC SubCo within 60 days from April 22.
”The sub companies shall apply for and obtain licences for the intrastate supply and distribution of electricity from EERB, among other directives,”it said
The commission said that all transfers envisaged by the Order shall be completed by October 22.
 NERC had also transfered regulatory oversight of the Enugu electricity market to the State Electricity Regulatory Commission.
Continue Reading

News

Minister summons Lead British Int. School over bullying allegation

Published

on

The Federal Ministry of Education on Tuesday summoned Lead British International School, Abuja over an alarming viral online video regarding alleged bullying incidents at the school.
At the meeting held in Abuja, the Minister of State for Education, Dr Yusuf Sununu, emphasised government’s steadfast stance against any form of harassment or intimidation within educational institutions.
The delegation from the school to the meeting was led by Mr Abraham Ogunkanmbi, Head of School.
Sununu expressed deep concern over the circulated video.and assured that government would take decisive actions to forestall reoccurrence in any institution of learning.
The minister appointed a seven-member committee to thoroughly investigate the circumstances surrounding the documented incidents.
The committee’s mandate, he said, was to investigate the events as depicted in the videos and come up with expanded investigation to other schools, using Lead British International School as a case study, to address broader social vices.
Sununu underscored the importance of establishing stronger bonds between school authorities and students.
He said such bond would facilitate immediate responses to similar incidents in the future., emphasising the critical role of communication in resolving such issues.
The minister assured Nigerian of the government’s commitment to ensuring safety and protecting the rights of all students.
He, also reiterated the seriousness of the  ministry in addressing and eradicating vices within the education sector.
Contribution, the Permanent Secretary, Mrs Didi Walson-Jack, inquired about the existence of an anonymous suggestion box at the school, where students could lodge their complaints discreetly.
Speaking on behalf of the delegation, Ogunkanmbi said the school had launched investigations into the unfortunate incidence.
He assured the ministry that appropriate measures would be taken in response to the incidents, including disciplinary actions in accordance with the school’d policies.
Continue Reading

Trending