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FG, NGX to Boost Startup Listing with Tech Board

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The Ministry of Communications, Innovation and Digital Economy has said it intends to collaborate with Nigerian Exchange Limited to stimulate startup listings with the newly-created NGX Technology Board.

In a statement issued on Friday by the NGX, it was revealed that the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, stated this during a tech event themed; Invest in Africa’s Future- Let’s talk about exits- a joint initiative of the Ministry, NGX, and Future Africa in New York.

Nigerian Stock Exchange: Profit-Taking Takes Toll On NGX Turnover

Tijani noted that Nigeria had been grappling with over dependence on oil in the last few years. He added that diversifying from reliance on a single sector like the oil industry often requires increasing productivity in other sectors and for him, this can be achieved through the application of technology and innovation.

Highlighting his goals, Tijani said the ministry will work on creating a regulatory environment for fintechs, access to funding especially from angel investors, improve digital infrastructure, facilitate the export of tech products and services and collaborate with NGX on tailored listing options for startups via its Technology Board.

The Minister said, “We cannot do all of these as a country if we do not prioritise innovation and encourage entrepreneurs to build. Nigeria is now open to investments. We want to prioritise the ability of our technology companies to export products and we are targeting Africa first and then eventually start selling to the rest of the world.”

At the same event, the Chief Executive Officer, NGX, Temi Popoola, stated that the exchange will work to support the agenda of the minister and the mandate of President Bola Tinubu. Whilst stating that technology is a big enabler of the capital market, Popoola said that NGX is keen on fostering innovation in the capital market, potentially to attract a larger pool of investors and mature tech companies to list on its platform.

Explaining the challenges around listings, he stated that the demand for private capital currently outweighs public capital. Popoola revealed that the NGX is in discussions with Securities and Exchange Commission on private markets to enable the exchange do business with non-listed companies like startups.

“We will continue to do a lot of work that makes us able to attract local capital and the day tech startups come to the exchange, we are confident that there would be very good audience of investors that would want to own a bit of their shares. This is what we at NGX are doing by removing all barriers for that to happen,” the CEO said.

Exploring Seven Mile Beach, Cayman Island

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Seven Mile Beach, often known by the abbreviation SMB, is a long crescent of coral-sand beach, located on the main Grand Cayman Island, which is part of the British Overseas Territory of the Cayman Islands.

More often named as one of the best and ultimate beaches in the Caribbean Region, Seven Mile Beach is the epitome of an island getaway.

As it is the most well known beach on the island, it is located on the western shore of Grand Cayman, where to the south is located the capital city of the Cayman Island, George Town.

As all of the beaches on the islands are public property, SMB too is, and one can walk the whole length and admire the many resorts, because it is the most popular and most developed area on the island.

Even though the name is not the same with the length of the beach, where it is only 10.1 km (6.3 mi) long, sadly the beach is a victim to annual erosion which has reduced its size in some places.

There are many things that can be done at the beach, which does not include only tanning.

Visitors can definitely have an adventurous parasailing, shallow snorkeling, doing sport, scuba dive, or even camping under the trees.

It is a place where people from every generation will definitely find their pleasure.

Federal Govt. Launches National Talent Export Programme

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The Nigerian government has launched a national talent export programme tagged the National Talent Export Programme (NATEP).

The program is designed to create at least, one million jobs over the next five years as a special purpose vehicle.

Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, announced this on the sidelines of the 78th United Nations General Assembly (UNGA), at an event tagged “Positioning Nigeria as a Global Talent Hub in New York, United States.

According to her, the initiative was in line with President Bola Ahmed Tinubu’s agenda to diversify the Nigerian economy, create sustainability opportunities, and generate about 50 million jobs for the youths.

Nigeria Explore Ways to Showcase Corps Members Cultural Talents

“NATEP is a key national initiative that will serve as a special purpose vehicle to position Nigeria as a leading global hub for service export, talent sourcing and talent export.

“As part of our strategy towards achieving this, his excellency President Bola Tinubu whose agenda for job creation, we have initiated a national talent export programme for Nigeria, which targets the creation of 1 million jobs across Nigeria over five years. NATEP is a key national initiative that will serve as a special-purpose vehicle to position Nigeria as a leading global hub for service exports, talent sourcing and talent export.

“The Nigerian government under the leadership of President Bala Tinubu as part of the renewed hope agenda is committed to diversifying the economy and creating sustainable employment opportunities, especially for youth by creating 50 million jobs. This is in tandem with the theme of this year’s UNGA, rebuilding trust and igniting global solidarity, accelerating action on the 2030 agenda and the sustainable development goals towards peace, prosperity, progress and sustainability for all,” Uzoka-Anite added.

According to her, NATEP will be dedicated to addressing the unique needs and challenges faced by the talent and service sector export industry, emphasizing on enhancing competitiveness, fostering innovation, and driving sustainable growth through trade in services.

Available data indicates that the global talent sourcing industry is valued at $620 billion as of 2020 and it is forecasted to be valued at about $904 billion by 2027.

According to Dr Uzoka-Anite, Nigeria can supply top talent for the global service export and outsourcing business, with over 1.7 million graduates from higher education institutions entering the workforce annually.

“NATEP will serve as a dedicated entity to address the unique needs and challenges faced by the talents and service export industry. The programme will lay special emphasis on enhancing competitiveness, fostering innovation and driving sustainable growth through trade and services. It is noteworthy that the global talent sourcing industry was valued at $620 billion in 2020 and is forecasted to be valued at $904 billion by 2027. With a youthful population and over 1.7 million graduates from higher educational institutions joining the workforce each year, Nigeria has the potential to provide high-quality talent for the Global Service export and outsourcing industry.”

While stating that Nigeria is ready to become a global hub for talent export, Uzoka-Anite said that the government will take full advantage of the African Continental Free Trade Agreement (ACfTA) to penetrate the continent’s huge market and target job opportunities in the United States, Canada, Europe, Asia, among others.

“As a country, we have a significant value proposition for regional and global markets for the export of services. We will actively target Greenfield and brownfield job opportunities in the United States, Canada, Europe, and Asia, among others.

Uzoka-Anite concluded by saying “To put it succinctly, the message from today’s launch of the national talent export programme is clear. Nigeria is ready to become a global hub for talent experts. We have the vision and commitment and we seek your partnership and trust as we embark on this mutually beneficial journey. We look forward to partnering with you.”

In his remarks, the Minister of Communication, Innovation, and Digital Economy, Dr Bosun Tijani, while welcoming the initiative, noted that it was extremely timely as Nigeria was losing out of the benefits countries like India enjoy.

“I think one thing we’ve not done well, is actually to be intentional, around how we milk that opportunity for our economic development. And this is why this program is extremely important.

“I’ve been following the Nigerian story, we’ve been losing a lot of our top talents to the world. Canada is soaking in a lot, and the UK as well. I think the UK last week or so announced that if you’ve never taught physics, but you’ve studied physics, you can now come into the UK to teach and they’ll give you £10,000 to come in.

“So the implication of that is that we’re going to be losing a significant proportion of people in that space of the academy.

Managing Director of the World Economic Forum (WEF), Dr Saadia Zahidi, who also spoke at the event, promised to support Nigeria’s effort in the new talent export programme.

According to Zahidi, “The World Economic Forum in Nigeria has a long-standing partnership and we are very happy to support this particular effort. The forum established some months ago, a skills accelerator in Nigeria and under the leadership of Her Excellency, the minister and others, we hope that we will be able to provide support to NATEP through the continuous rescaling and upskilling of the workforce that will be a part of this initiative.

The official launch of NATEP also featured a panel discussion moderated by the CEO of Outsource Global, Amal Hassan,

It also featured the Head of Policy for West and Central Africa for Meta, Adaora Ikenza, and Country Representative for Microsoft Nigeria, Dr Ola Williams.

FCT Minister Promises Better Deal To Foreign Investors

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The authority of the Federal Capital Territory Administration, FCTA, has assured foreign investors who have an interest in investing in the nation’s capital, Abuja to feel free to do so.

The Minister of State for Federal Capital Territory (FCT) Mariya Mahmoud who represented the FCT Minister, Nyesom Wike, stated this in the just concluded Africa International Trade Exhibition meeting in Midtown, New York, United States of America,

Mahmoud said that the Administration will always evolve measures that would bring about effective economic programmes and policies that will create a conducive business environment for the investors.

She listed major areas that the administration and residents need most including Agriculture, tourism, infrastructure development, transportation, healthcare, waste management and the hospitality industry. She explained that the participation of FCTA in the investment summit has opened up more opportunities for Foreign Direct Investment (FDI) into the territory.

The Minister said Abuja Investment Company Limited and Abuja Infrastructure Investment Centre will be driving the initiative for easy implementation.

FG warns foreign investors against enslaving Nigerians

According to her; “The administration’s participation in the investment summit was very important. The summit offers us the opportunity to present the investment opportunities in FCT, and a greater opportunity to talk about the potential in the agricultural sector.

“It was a platform to call on our people, especially the people in the diaspora, to come on board and assist us to tackle the issue of food insecurity.

“And then we have tourism, infrastructure development, transportation, and healthcare, waste management and hospitality industry. All these are areas where people can come and invest. And we really need collaboration and public partnership because without collaboration, without partnership we cannot achieve what we want to achieve”.

Mahmoud, also used the forum to seek huge investments in affordable housing, noting that the Administration is poised to improve the socio-economic status of the masses in line with the renewed hope agenda of the present administration.

The summit had a theme: “The imperative of global trade for African SMEs as a game changer for the continent’s future prosperity”.

Epl Wrap: Ten-Man Man City Extend Lead, Man Utd Bounce Back At Burnley

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Manchester City moved five points clear at the top of the Premier League despite having Rodri sent-off in a fiery 2-0 win over Nottingham Forest on Saturday, while Manchester United snapped their losing streak by beating Burnley 1-0.

Phil Foden and Erling Haaland struck inside the first 15 minutes as City extended their perfect start in the Premier League to six games.

Pep Guardiola’s men have now won 20 consecutive home matches in all competitions, but were made to work much harder by Rodri’s moment of madness.

The Spaniard grabbed Morgan Gibbs-White around the neck less than 60 seconds into the second-half and could face a costly suspension as a three-game ban would see him miss the Premier League visit to Arsenal next month.

“An exceptional game in the first-half. Exceptional game in the second for our resilience and our work because we played 52 minutes 10 against 11, so it was not easy but we were fantastic,” said Guardiola.

“Hopefully Rodri will learn. He has to control his emotions.”

City were at their ruthless best early on to seemingly put the game to bed.

Foden smashed home a sweet volley from Kyle Walker’s cushioned cross to open the scoring.

City’s injury problems handed Matheus Nunes a chance to make his first league start since joining from Wolves and he made a positive impact by setting up the second goal.

Nunes played a neat one-two with Foden before chipping the ball across for Haaland to power home his ninth goal of the season.

The European champions did not appear in any danger until Rodri lost his cool.

Taiwo Awoniyi had Forest’s best chance to get back into the game when the in-form Nigerian lifted over under pressure from Ederson.

City, though, restored order as Guardiola switched to a back five to withstand an aerial bombardment from the visitors.

– Fernandes fires for Utd –

United remain nine points adrift of the leaders but eased the pressure on Erik ten Hag after three consecutive defeats.

One moment of world class quality from Bruno Fernandes got the Red Devils back to winning ways as the Portuguese volleyed home Jonny Evans’ pass just before half-time.

The Red Devils had to survive a few nervy moments at Turf Moor as Zeki Amdouni hit the post in the first-half, but the Clarets remain without a win on their return to the Premier League.

Struggling Everton beat Brentford 3-1 to earn their first league win this term and climb out of the relegation zone.

Sean Dyche’s side took the lead through Abdoulaye Doucoure’s sixth minute strike.

Mathias Jensen equalised for Brentford against the run of play after 28 minutes, but James Tarkowski restored Everton’s advantage with a header from Dwight McNeil’s corner in the 67th minute.

Substitute Dominic Calvert-Lewin wrapped up Everton’s long-awaited three points with a cool finish four minutes later.

Luton picked up their first ever Premier League point but let a huge opportunity slip in a 1-1 draw at home to Wolves.

The visitors at Kenilworth Road were reduced to 10 men when Jean-Ricner Bellegarde saw red on 39 minutes.

Pedro Neto still fired Wolves in front early in the second-half, but Carlton Morris’ penalty salved a point for Luton.

Crystal Palace and Fulham remain in the top half after a 0-0 draw at Selhurst Park.

Reps to resume plenary on Tuesday

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The House of Representatives has said it will resume its annual recess on Tuesday to continue the first legislative year of the 10th Assembly.

Dr Yahaha Danzaria, the Clerk of the house, said this in a statement in Abuja on Saturday.The 10th Assembly proceeded on its annual recess on July 27. This followed a plenary session during which Speaker Tajudeen Abbas announced the leadership of the standing committees of the house.

Commenting on the resumption, Rep. Akin Rotimi, the Spokesperson of the House and House Committee on Media and Public Affairs, said the 10th Assembly had been prolific.

He said since its inauguration, the house had recorded 470 bills, with all passing the first reading, while four passed the second reading.

He added that there had been 175 motions considered by the parliament.

He said in spite of the recess, it had continued to function, as various ad hoc committees continued to carry out their crucial mandates.

He said this had generated significant positive public interest.

Rotimi said some of the key early developments expected on resumption was the conclusion of the work of all ad hoc committees and the submission of their reports.

He said this was for the consideration of the House in line with the directive of the speaker.He said the house would get the final draft of its Legislative Agenda developed by the ad hoc committee, led by the Majority Leader, Rep. Julius Inhonvbere.

He said it would be considered and adopted by the house, adding that the draft agenda was developed following extensive consultations with critical stakeholders.

He also said that the membership of the standing committees would be announced and fully constituted.

Tropical Storm Ophelia Comes With Torrential Downpour From New York To South Carolina

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Tropical Storm Ophelia came ashore on Saturday along the Atlantic Coast where it doused the region with torrential downpours and unrelenting winds that caused flooding and widespread power outages.

Nearly 8 million people across the Mid-Atlantic – from New York to South Carolina – were under tropical storm, storm surge and flooding warnings as of midday on Saturday, the National Weather Service said.

After making landfall near Emerald Isle, North Carolina around 6:15 a.m. EDT (10:15 UTC), Ophelia was moving inland on a northerly path as it dumped heavy downpours and whipped strong winds in its wake.

Some spots could see up to 10 inches (25 cm) of rain and winds of more than 50 miles (80 km) per hour that combined were producing storm surge flooding in parts of North Carolina, the service said.

One of the hardest hit communities was Washington, North Carolina, where video footage on social media showed flood waters reaching homes and partly submerging vehicles in parts of the town that sis on the banks of the Pamlico River.

“Some areas are even cut-off, seeing water rescue crews moving throughout town just incase the call comes later,” storm chaser Bryce Shelton said on X, describing the conditions in the town of 10,000 people.

In Virginia, the state’s department of emergency management said in a X post that its crews were staged across the commonwealth, ready to conduct any needed swift water rescues and debris removal.

By midday, more than 65,000 homes and businesses in the North Carolina, Virginia, Pennsylvania and New Jersey and were without power.

Metal Pollution: Rivers In North-East England And Cumbria Get £9m Water Treatment Scheme

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A £9m water treatment scheme to remove metal pollution from rivers in the north-east of England and Cumbria is due to be completed next year.

Contamination from old metal mines has left the River Nent in Cumbria with very high levels of cadmium, lead and zinc, which are toxic to wildlife.

Construction of the Nent Haggs Mine Water Treatment Scheme began in 2020.

Dr Hugh Potter from the Environment Agency (EA) said it will make a “vital” difference.

“This project will have an immediate impact on water quality in the rivers Nent and South Tyne and, in future, will help improve sediment quality in the Tyne estuary,” he said.

Most metal mines in the north of England closed by the early 1900s but have filled with rainfall, with contaminated groundwater then polluting nearby rivers.

This problem affects about 1,500km (930 miles) of waterways in England and the government has said it wants to halve that number by 2038.

The River Nent is the most metal polluted river in the north of England, with levels more than 200 times what is considered safe, the EA and Coal Authority said.

The watercourse has half the number of fish and river flies as would be expected if there was no pollution.

The Nent is a tributary of the River South Tyne, flowing to the River Tyne and then the North Sea, so the metals accumulate in Tyne estuary sediments.

One of the most significant sources of pollution is the Haggs adit, an abandoned mine water drainage tunnel at Nentsberry, which discharges about three tonnes of zinc each year, the EA said.

The Nent Haggs treatment scheme will capture the water as it comes out of the mine and remove about 90% of the metals via treatment ponds and reed beds at West Foreshield.

Works Minister Assures Abuja-Lagos Highway Will Be Completed In 4 Years

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The proposed Abuja-Lagos highway will be completed in four years, the Federal Government has assured.

Minister of Works David Umahi gave the assurance at a briefing on Saturday.

He said travelling from Lagos to Abuja will take four hours on the new highway.

He said the road will be built entirely with concrete, which is cheaper than asphalt.

University Of Nigeria, Nsukka Don Proposes To Inject 7, 000 MW Across Nigeria

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The Dean, Faculty of Engineering, University of Nigeria Nsukka, UNN, Prof. Emenike Ejiogu has proposed to inject 7,000 megawatts of electricity across the 774 local government areas in Nigeria through the gasification plant.

Prof. Ejiogu who is also the Director, Africa Centre of Excellence for Sustainable Power and Energy Development, ACE-SPED, further said that Nigeria must adopt energy mix in order to stave off energy crisis crippling the economy, adding that the conventional national grid has proven to be insufficient in meeting the country’s energy needs.

He spoke as the 190th Inaugural Lecture of the University of Nigeria at the Princess Alexandra Auditorium, UNN, adding that through gasification plant, 10,000 megawatts of electricity can be injected into all the 774 local government areas in Nigeria through distributed energy generation.

While presenting the topic of the lecture titled ‘My Engineering Odyssey: Energy Security, Energy Sustainability and Bringing Power to the People,’ he explained that the gasification plant is an engineering system which is designed and fabricated locally with 100% local content, and which converts organic solid materials into synthetic gas for electric power generation and other uses.

“The conventional power industries in Nigeria with huge generating plants, produce huge amount of power and transmit it at a long distance. The disadvantage of this is that you have to cover the entire country with transmission lines which would result in huge financial losses. The technical manpower is not equally there to maintain this power arrangement because most of the materials are imported.

“In this situation, the best thing to think of is distributed-generation of energy. This can be done by creating micro and mini grids across locations in Nigeria so that we can generate power and distribute locally. Gasification plant is one of the enabling technologies that can help you achieve this. The advantage of distributed-generation is that you can generate your power locally and manage it locally.

“When you have a lot of these micro and mini grids, you can begin to tie them together so that in the end, you will have a network. With this arrangement, you can infuse huge amount of energy into our power sector without huge investment in transmission lines and other materials. This is an enabling technology because you can easily go into the 774 local government areas across the country and give each of them 10 megawatts of power which would result to 7,740 megawatts of power. This is already more than what our national grid is generating and transmitting. If the political will is there, you can infuse huge amount of energy in our sector within a period of two to three years. It is only the gasification technology that can give you that flexibility because we would be producing fuel from waste materials and coal which are in abundance in this country,” he explained.

He also said “With the current epileptic power supply in the country occasioned by the frequent collapse of the national grid, this is time to give proper attention to alternative power source.

“Our designed gasification plant converts solid wastes into gas, just like the refineries which turns crude oil into petrol and other products. What we need is the fund to mass produce it.

“Organizations can comfortably depend and run on it, what is required is to change the already existing diesel generators and modify them to run on gas and it will serve as mini-grid.

“Depending on public power supply alone has negatively impacted on production outputs and services of organisations in Nigeria, which as well have affected the national economy because some organisation can no longer operate under the epileptic power supply with price of diesel always on a high side,” he said.

In his address, the Vice Chancellor of UNN, Prof. Charles Igwe, who was also the chairman of the occasion, said that Nigerian universities cannot really be autonomous if the managements can produce services which would make them self-sustaining.

He described Prof. Ejiogu’s lecture as germane, especially as the country is still grappling with epileptic power supply, adding that keying into the lecturer’s alternative power generation would save Nigeria some cost of running only on the conventional power.