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FG Declares NIMASA As Most Digitally Transformed Agency

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The Presidency through the Bureau of Public Service Reforms has declared the Nigerian Maritime Administration and Safety Agency, NIMASA, as the best Federal Government Agency in Digital Transformation.

The Director General, who conveyed the Presidential award to NIMASA Management also announced that the Director-General of NIMASA, Dr Bashir Jamoh, has been nominated to receive the distinguished GovTech Trailblazers award for providing exemplary leadership.

The BPSR also announced that the awards were as a result of a nationwide nomination and online voting process initiated by the Bureau, as well as a detailed analysis of performance of all government MDAs at the national level.

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The award presentation is scheduled to take place in Abuja next month.

Reacting to the recognitions, Jamoh expressed his pleasure and assured of the Agency’s commitment to full operational digitalization.

He stated: “This award is a pleasant surprise. We weren’t expecting it. We were just doing our job. This award will spur us to accelerate our quest to fully digitalize all NIMASA operations.”

Public sector reform consists of deliberate changes to the structures and processes of public sector organizations with the objective of getting them to run better.

E-Banking Services: Bank Customers Pay N154bn Fees

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Customers of nine leading commercial banks paid N154 billion fee for using electronic banking services in the first half of the year (H1’23).

Details of the banks’ financial statements for H1’23 showed that the fee represents a 16.7 percent year-on-year (YoY) rise when compared to N131.97  billion paid in H1’22.

The banks are Guaranty Trust Bank which raked in N21.2 billion from the customers, Access Bank (N43.9), Zenith Bank (N22.27 billion), United Bank for Africa Plc (N51.07 billion), Stanbic IBTC (N2.14 billion), First City Monument Bank (N7.4 billion), Unity Bank (N1.96 billion), Fidelity Bank (N1.85 billion) and Wema Bank (N3.13 billion).

Electronic Banking is a service that enables banking transactions through electronic payment channels like internet banking, mobile banking, Automated Teller Machines (ATMs), Point of Sale (PoS) among others.

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The rise in electronic banking fees and commission indicates that Nigerians’ adoption of electronic payment channels has continued to increase.

According to the Nigerian Interbank Settlement System (NIBSS) e-payment data for Q1’23 the volume of e-payment transactions grew YoY by 209 percent to 4.7 billion from 1.52 billion in Q1’22.

The value of e-payment transactions increased YoY by 48 percent to N137.52 trillion in Q1’23 from N92.85 trillion in Q1’22.

Meanwhile, in H1 ’23, the nine banks earned N66.7 billion from account maintenance fees and commission income, representing a 14.7 percent YoY rise when compared to N57.5 billion recorded in the corresponding period of 2022, H1’22.

In terms of highest account maintenance fees and commission income, Zenith Bank had the highest (N21.02 billion), followed by Access Bank (N13.36 billion), Guaranty Trust Bank (N10.5 billion), United Bank of Africa, UBA,  (N9.6 billion), First City Monument Bank, FCMB, (N3.85 billion), Fidelity Bank (N3.4 billion), Stanbic IBTC (N2.64 billion), Wema Bank (N1.63 billion) and Unity Bank ( N742.6 million).

However, in terms of growth,  UBA had the highest YoY  growth of 47.6  percent at N9.6 billion in H1’23 from N6.5 billion in H1’22.

The cumulative net fees and commission income for the banks grew YoY by 20.7 percent to N448.47 billion in H1’23 from N371.43 billion in H1’22.

Queues Resurface As Oil Prices Climb to $95 Per Barrel

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KEROSINE QUEUE/PRESS-2/MY DOCUMENT/MY DOCUMENT/JUNE 09 NIGERIANS STRUGGLING TO BUY KEROSINE AT NNPC MEGA STATION IN ABUJA ON WEDNESDAY (10/6/09). PHOTO; NAN

Oil prices rose by more than $1 a barrel on Wednesday after fuel queues that resurfaced in Lagos and its environs on Tuesday reduced.

Brent crude futures rose to $95 a barrel as of 5:27PM on Wednesday.

Long queues at filling stations resurfaced in Lagos and its environs on Tuesday, heralding fears of a fresh round of petrol scarcity in the country.

The new development follows findings that petrol supply had dropped by 93 per cent nationwide since the pronouncement of an end to fuel subsidies by President Bola Tinubu on May 29.

Many stations in Lagos were seen to shut their gates to customers, while the few that had products for sale witnessed conspicuously long queues.

The premises of North West and NNPCL Retail with products saw a large turnout of vehicles and customers carrying kegs.

Statistics gathered from a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, revealed that supply had dropped drastically after May.

Petrol supply by the NNPCL has dropped from 68,353,981 litres before the removal of petrol subsidy to 4,544,002 litres in August.

Vandalised Pipelines: Marketers Predict More Fuel Queues

Statistics on the ‘Daily Truck Out’ report obtained from the NMDPRA revealed that supply was around 68,353,981 litres per day as of June 30.

Before the removal of petrol subsidy, the Group Chief Executive Officer of NNPCL, Mele Kyari, said that the daily consumption was around 66 million litres.

However, checks on NMDPRA’s latest report for August 20, showed that supplies by the NNPCL had dropped 4, 544,002 litres as of August 20.

Petrol subsidies had gulped around N12tn before it was officially removed in May.

The high forex rate and oil marketers’ inability to import products eventually pushed the responsibility of meeting local consumption demand back on the NNPCL.

Meanwhile, the Group Executive Director of Dangote Group, Devakumar Edwin, last week said the refinery would commence refining with diesel and jet A fuel in October, and petrol in November.

Just In: Federal Govt. Declares Monday October 2 Public Holiday

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The Federal Government has declared Monday October 2 as a public holiday in commemoration of the 63rd independence celebration.

The Minister of Interior, Olubunmi Tunji-Ojo, made the declaration in Abuja on behalf of the government.

He congratulated all Nigerians at home and in the Diaspora on the occasion.

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He assured Nigerians of government’s continued commitment to tackling challenges facing the country.

“It is today a known fact that difficult Socio-Economic and Security challenges are global, and Nigeria is not isolated,”the Minister said in a statement signed by the Permanent Secretary of the Ministry Dr Oluwatoyin Akinlade.

The Minister said that government is making efforts to confront the numerous challenges with all the might available until respite comes the way of the country.

Tunji-Ojo reiterated that the eminent position of Nigeria in the comity of Nations and the greatness ahead of the country is achievable if we all work together in unity.

He said the nation’s warm welcoming spirit and love as well as its unbounded human capital and the richness of the land makes Nigeria unarguably the leading black Nation in the World.

The Minister maintained Nigeria would remain Africa’s pride and beacon of hope for the Renewed Hope of President Bola Ahmed Tinubu.

Sanwo-Olu Warns Traders On The Red Line Corridor 

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The Lagos state Governor, during a tour of the Red Line corridor, stopped at the Agege Station of the Red Line Rail, where he gave the traders just 2 days to vacate the tracks.

He says the whole tracks will be walled off totally.

Sanwo-Olu warned the traders against selling along rail corridor reiterating that the line is meant for transportation and not trading.

He added that the government did not want any incident of death on the train track.

“When trains begin operations here, they will be plying these tracks every five minutes. I don’t want any incident of death here.

And I will block the other market so that there will be no passage to this place anymore.”

The governor, who was accompanied by his deputy, Dr Obafemi Hamzat, and the Managing Director, Lagos Metropolitan Area Transport Authority, Abimbola Akinajo, among others, also inspected the Agbado, Fagba and Ikeja stations of the Red Line rail.

Over 4,000 Registered For Kano Mass Wedding

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Kano State Hisbah Board said over 4,000 prospective couples have registered to participate in the state-planned mass wedding scheduled for next month.

Of the 4,000, it has succeeded in selecting the 1,800 couples for the first batch and scheduled them for medical screening as part of the prerequisites of the mass wedding proceedings.

Couples would be subjected to HIV/AIDS, genotype and drug tests before they would finally be drafted for the state-sponsored wedding.

Hisbah Deputy Commander General (operations), Dr Mujahid Aminuddeen stated that due to the recent economic downturn currently plaguing the nation, many people want to participate in the mass wedding especially girls and women whose parents want to marry them off but are unable to afford the cost of preparing the wedding process.

He advised the beneficiaries of the scheme to live in harmony, adding that those who divorce their spouses on flimsy excuses after the marriage would be made to pay back what the government expends on their wedding.

While shedding more light on the budgeted N20m set aside for the wedding party as earlier announced by the Board Commander, Aminu Daurawa, the Deputy Commander General (Women), Khadija Sagir Sulaiman, revealed that the said amount was not set aside for the Walima (wedding party) only but it would also cover the pre-wedding activities including three days induction course for the couple and the entrepreneurship course for the women.

“An entrepreneurship course would be organized for the women. You know the women are to be given N20,000 each as capital, so when they learn a business skill such as soap making, car wash production, pomade, etc., they will be able to start a business with that capital.”


It would be recalled that the administration of the state government headed by Alhaji Abba Kabir Yusuf has earmarked over N800 million for mass weddings to procure furniture, food items,clothing materials, dowry, and capital for 1,800 intending couples under its mass wedding scheme.

Prospective couples expressed gratitude to the Kano State governor for providing the opportunity for them to get married in their lifetime.

Cardoso To Suspend Intervention Loans, Clear Dollar Debts

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The new Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said he will prioritise clearing the apex bank’s backlog of unsettled foreign exchange obligations in the near term.

He said this on Tuesday during the screening session of members of the Senate.

Cardoso promises to enhance transparency, fix corporate governance, and ensure confidence in the autonomy and integrity of the bank.

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“We need to promptly find a way to take care of that. It would be naive for us to expect that we’ll be making too much progress if we’re not able to handle that side of the foreign exchange market,” he said.

The new CBN governor said he would maintain price stability, revert to evidence-based monetary policies, and discontinue his predecessor’s unorthodox monetary policies to bolster the country’s naira currency.

Cardoso’s screening as the nation grapples with falling economic indices with the naira nearing 1,000/$ at the parallel market.

The official market closed with the naira-to-dollar exchange rate settling at N755.08/$1 on Tuesday, according to the foreign exchange data released by the FMDQ Exchange

According to Cardoso, the immediate plan to stabilise the naira will be for the apex bank to settle existing financial obligations and make “transparent rules.”

Describing how to address what he termed as an ‘operational issue’, he said, “Right now, we have a situation where we are aware that there are unsettled obligations by the CBN. Whether it is $4bn, $5bn or $7bn, I don’t know but definitely the immediate priority will be to verify the authenticity and extent of what is owed.

“Number two, apart from the operational issue, there is one that is system related that involves ensuring that we come up with rules that are open, transparent that any of the players in that area understands. We can’t expect foreign investors and portfolio investors to come; we can’t expect them if there is no open, transparent system that everyone understands.

“In setting up those guidelines one will carry the relevant stakeholders along and the comment was made earlier that one should be ready to engage everybody and hear views. Those two things, though they may seem simple, will go a long way to easing up the restrictions we are having on people (investors) that want to come in.”

The immediate past acting CBN Governor, Folashodun Shonubi, on September 6, 2023, said the apex bank had concluded negotiation on dollar debts with commercial banks, disclosing that all forex exchange backlogs would be cleared within one to two weeks.

ECOWAS Grants $78m To Train Farmers In Poultry, Fishery

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ECOWAS has given 78 million dollars as training grant to 150 farmers in Bauchi State and the FCT to boost food security in Nigeria.

The beneficiaries are farmers of the Community Allied Farmers Association of Nigeria (COMAFAS).

ECOWAS Commissioner for Economic Affairs and Agriculture, Massandje Toure-Litse made this known at the opening of a poultry training workshop for beneficiaries in Orozo, Abuja on Tuesday.

Toure-Litse said the grant would increase young peoples’ capacity to engage in agriculture value chains and food production.

She added that it would go toward the training of 150 youth in poultry and fisheries, adding that the two sub-sectors were the main driving force behind the sub-region’s economy and development.

ECOWAS has designed quality training modules and arranged for the training of 3,032 young people (30 per cent women and 70 per cent men), she said.

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Toure-Litse said agricultural productivity and competitiveness in West Africa had the tendency to impact positively on the sub-region’s food security, economic development, and livelihoods.

According to her, the ECOWAS Agriculture Policy remains the guiding framework for the 15 members of the bloc as it prioritises agricultural productivity and competitiveness.

The programme seeks to enhance the capacity of youth and women farmers and promote their access to resources and markets and their involvement in agribusiness, she said.

She added that there was the need for urgent intervention in gender participation in agriculture and youth employment, food chains, crops, forestry, livestock and fisheries.

“Products from crops, livestock and fisheries are the second largest when we talk about intra-community trade and interestingly, among these, livestock is the largest item.

It is anticipated that by 2030, at least 30 per cent of young people in the sub-region will be employed in the agriculture sector.This will amount to a 75 per cent reduction in youth under-employment in rural areas,’’ she said.

In his remarks Founder/President of COMAFAS, Austine Maduka said in spite of the expansion of poultry industry in Nigeria, it could only cater to 30 per cent of the needs of Nigerians. Maduka said the training aimed to educate young farmers on how best to start and manage production.

He said the partnership with ECOWAS would strengthen the move to ensure availability of meat, other foods and impact relevant skills for sustainable strategies to reduce poverty.

75 out of the 150 beneficiaries would be trained on poultry farming in the FCT, while the remaining 75 would be trained on fish farming in Bauchi state.

The FCT beneficiaries were given 50 birds each, bags of poultry feeds and drugs as start-up capital.

Operators Decry Fake Vehicle Spare Parts Influx

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Industry experts have underscored the importance of tackling the current influx of substandard Vehicle spare parts in the Nigerian automobile sector.

According to the experts, counterfeit components not only compromise vehicle safety but also erode consumer confidence in the authenticity of automotive products.

The Standards Organisation of Nigeria reports that 95 per cent of auto spare parts imported into the country do not meet the minimum acceptable standard.

The Chairman of Automedics Motor International, Yusuf Adah,revealed that the issue remained critical to the sector, blaming the influx of substandard vehicle spare parts on dealers and importers.

According to Adah, unscrupulous elements within the industry lack commitment to excellence and integrity, making it a herculean task to fight the problem head-on.

Adah stressed the importance of Original Equipment Manufacturers, noting that while they may be pricier, they prove their worth by standing the test of time.

He stated, “Car owners have several options to choose from. But it is very easy to differentiate between OEM and substandard spare parts.

“Fighting the menace remains a top priority even though it is almost looking as if it’s impossible to combat.”

 Additionally, Adah decried the lack of customer satisfaction and the shortage of skilled talents in the automobile industry.

Nigerian Customs Urges Transparency In Vehicle Imports

According to him, these challenges require collective efforts to address and improve the overall health of the Nigerian auto sector.

The Nigeria Customs Service, a key agency responsible for overseeing imports and exports, had stressed the need for collaboration among stakeholders to curb smuggling which had given rise to the influx of counterfeit automotive spare parts into the country.

In a document titled “Enhancing the Role of Nigeria Customs Service and Fostering Collaborative Efforts with Stakeholders to Prevent the Inflow of Substandard or Counterfeit Spare Parts,” the agency points out the formidable obstacles encountered in curbing smuggling.

Nigeria Urged To Prioritise Digital Transformation

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A former Minister of Commerce in Nigeria, Engineer Mustapha Bello has advised the Nigerian government on the need to prioritize digital transformation for economic diversification.

The ex Minister who advocated for a significant shift in Nigeria’s economic approach suggests that the Nigerian government should invest in digital transformation planning to diversify its income sources, both from traditional oil-based revenues and emerging non-oil sectors.

Engineer Mustapha who stated this during an interaction with voice of Nigeria in Abuja, commended Nigeria’s progress in economic development, surpassing many countries worldwide.

He emphasized  the need for dedicated sectors focused on executing robust digital transformation plans.

Highlighting global trends, he revealed that the Kingdom of Saudi Arabia plans to invest over 50 billion dollars in digital transformation, redirecting their focus from oil dependence.

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” Similarly, the United Arab Emirates is strategically investing in sectors beyond oil reliance, aiming to broaden their income streams, which Nigeria can replicate,” he said.

Mustapha stressed on the importance of a vigilant government strategy to analyze foreign initiatives, ensuring they don’t inadvertently harm Nigeria’s economic interests.

He calls for the establishment of a strategy group tasked with evaluating the positive and negative impacts of global policies being applied within the nation.

Moreover, the ex minister encourages Nigerian states in the hinterland to tap into the emerging Blue economy sector, a concept introduced by President Bola Tinubu’s administration.

He clarified that the blue economy extends beyond maritime activities, urging states to identify opportunities like land ports that can connect to the blue economy for regional development.