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Federal Govt Commits To Protecting Digital Platforms

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The Nigerian Government says it is committed to the protection of digital platforms to build the confidence of citizens while online.

The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, committed to a 2-day sensitisation workshop on Data Privacy and Protection in Abuja.

The workshop, organised by the Nigeria Data Protection Commission (NDPC) is to sensitise the public on the requirements of the Nigeria Data Protection Act (NDPA).

Tijani said the government is building a structure around regulation of data privacy and protection which is important to the journey of the nation towards digitalisation.

“Data privacy is not just a matter of convenience, it is a fundamental human right and we should care about the data we generate and what it is being used for. As we embrace the digital age, it is crucial that the personal and sensitive information of our citizens is maintained under the eyes of confidentiality.

“We are committed as a government to ensuring that every Nigerian can trust the digital platforms that they use, knowing that their data will not be misused.  

“We are taking proactive steps to strengthen our data protection framework as evident in setting up of NDPC and we are working with stakeholders including the National Assembly to enact robust Data Protection laws that are aligned with international standards,” he said.

He said data privacy and protection involves holding organisations accountable for how they collect and process data.

Nigeria Secures $500m For Digital Innovation Funding

For these reasons, Dr Tijani said: “We will also normalise the culture of transparency among our citizens so that everyone is fully aware of how their data is used.”

The Minister gave the assurance that the government will collaborate with all stakeholders to ensure everyone is aware of their rights and how they can protect their digital identity.

He further said data protection is not the sole responsibility of the government, adding that every individual should ensure people understand the value of their data and how they can protect themselves.

Tijani called on Data Protection Officers (DPOs) of Ministries, Departments and Agencies of government, to ensure data privacy and protection.

“We must be responsible for this as we are the faces citizens interact with, it is important that we model what we want to see in the society. The digital economy is an era of growth and innovation that requires that we nurture it,” he said.

He said that President Bola Tinubu believes in the power of the digital economy, hence the need to prioritise the implementation of stronger data security and protection.

The minister emphasised that data privacy and protection conversation should go beyond technicalities, adding that they should become values upheld strongly.

“As a minister, I am personally committed to this and I ask that you all join us to work towards a Nigeria where everyone’s data is protected and secured,” Tijani said.

The National Commissioner of NDPC, Dr Vincent Olatunji, said the commission is engaging in rigorous sensitisation on the NDPA and capacity building of DPOs and Nigerians.

Olatunji decried that the country requires over 500,000 certified DPOs because the skill is lacking.

“We have the people but the skill is lacking, there is a need for us to reskill and retool. Another thing is the technology that will be used to drive data protection, we need indigenous solutions that can assist in building a data protection ecosystem,” he said.

Dr Olatunji stated that there are so many vulnerable Nigerians who disclose and misuse their data, ignorant of the risks.

“In Nigeria, we have over 60 million Nigerians involved in gaming out of over 200 million people and most of these people don’t care about their data, they are vulnerable groups.

“We are working with the regulator of that sector, the Nigeria Lottery Regulatory Commission to ensure they see and understand data Protection as a major thing,” he said.

He added that they are working on a Memorandum of Understanding that will guide activities in the sector, among other engagements they have with the commission.

The Director-General of the National Information Technology Development Agency (NITDA), Kashimu Inuwa, said data is the currency of the digital economy.

Inuwa explained that new technologies such as Artificial Intelligence are sourcing data to give people a personalised experience, hence the need to be aware of vital information available in the public domain.

The Managing Director of Galaxy Backbone, Professor Bello Abubakar Mohammed, Managing Director of Nigeria Communications Satellite

Nigeria, Tukur Funtua and Representative of Nigeria Digital ID4DProject emphasized the need for collaboration to ensure an inclusive data protection economy system which is key to Nigeria’s Economy as he applauded the achievement recorded in Nigeria.

Over 200 people participated in the workshop consisting of DPOs, MDAs, and Stakeholders in the ecosystem among others.

Fighting Wildfires: Greece To Launch Drones, Forest Temperature Sensors

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Greece’s prime minister said on Thursday it would launch drones and install forest temperature sensors to improve preventive firefighting after criticism from climate activists over a devastating wildfire burning for almost two weeks.

A wildfire in the northeastern region of Evros, Europe’s deadliest blaze this summer, continued to burn for the 13th day on Thursday after killing at least 20 people, destroying homes and livelihoods and scorching lush forests.

Hundreds of firefighters continued to battle the massive Evros blaze on Thursday, after further overnight evacuations.

“Although we were better prepared than any other year, we faced an unprecedented combination of incidents,” Prime Minister Kyriakos Mitsotakis told parliament, citing a severe heatwave in July, Greece’s longest in years, then unusually high winds.

He said authorities had initiated steps to acquire more than 100 drones to monitor wildfires in real time.

There are also plans to install temperature sensors at archaeological sites and in high-risk forests, while some 500 forest scientists and 1,000 more firefighters will be hired soon, Mitsotakis said.

Environmentalists who advocate stronger international action to curb climate change have accused Greek authorities of spending more funds on extinguishing fires than on prevention.

Mitsotakis said tens of millions of euros were spent in wildfire prevention this year but that was still not enough.

In a post on social media platform X, the Copernicus Emergency Management Service said the Evros fire had ravaged at least 812.6 square kilometres (313.8 square miles), larger than New York City’s 778.2 square kilometres (300.5 square miles).

The World Wildlife Fund (WWF) said at least 30% of Greece’s protected Dadia-Lefkimi-Soufli Forest had been lost. Mitsotakis said he would ask European experts to assess the causes of the fire and suggest ways to help the forest grow back.

India Could Receive Average Rains In September After Driest August – Weather Official

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People buy vegetables from street vendors as others wade through a waterlogged road after heavy rains in Ahmedabad, India. REUTERS/Amit Dave

India is likely to receive an average amount of rainfall in September, the country’s top weather official said on Thursday, after the driest August in more than a century.

The monsoon, vital for the $3 trillion economy, delivers nearly 70% of the rain India needs to water farms and refill reservoirs and aquifers.

Monsoon rains were 36% below average in August and overall summer rains were 10% lower than normal since the season began on June 1, Mrutyunjay Mohapatra, director-general of the India Meteorological Department, told a virtual news conference.

“There have been weak monsoon activities on most days in August and rains were rather weak in most parts of the country,”

Mohapatra said. “Only some regions that were dry in June and July got better rains in August.”

Due to a weak start, monsoon rains were 9% below average in June, with rains rebounding to 13% above average in July. Summer rains again turned patchy in August.

Earlier this month Reuters reported that India was headed for its driest August in more than a century, partly due to the El Niño weather pattern.

El Nino, a warming of waters that usually stifles rainfall over the Indian subcontinent, has emerged in the tropical Pacific for the first time in seven years.

After recording the weakest August, overall monsoon rains were 10% below average between June and August. The driest August has also set India up for its lowest monsoon rains in eight years.

When El Nino hit monsoon rains in 2015, India faced widespread drought.

Patchy monsoon rains raise concern about the output of summer crops such as rice.

The erratic distribution of monsoon rains has led India, the world’s largest rice exporter, to limit rice shipments, impose a 40% tax on onion exports, permit duty-free imports of pulse, and could potentially result in New Delhi banning sugar exports.

China Issues Highest Warning As Super Typhoon Heads Towards Hong Kong

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China issued its highest typhoon warning on Thursday as Super Typhoon Saola, packing winds of more than 200 kph (125 mph), headed towards the southeastern coastline, threatening Hong Kong and other major manufacturing hubs in nearby Guangdong province.

Chinese forecasters issued a typhoon red warning at 6 a.m. (2200 GMT). China’s National Meteorological Centre said Saola, currently located about 315 km (183 miles) southeast of Guangdong province, will move northwest across the South China Sea at a speed of about 10 kph (6 mph), gradually approaching the coast of Guangdong, then slowly weaken in intensity.

Saola will make landfall along the coast somewhere from Huilai County in Guangdong to Hong Kong on the afternoon to the night of Sept. 1, the centre said, adding with its forecasted intensity, it could be among the five strongest typhoons to land in Guangdong since 1949.

Hong Kong’s government said the city would raise its strong wind signal to No.8 between 2 a.m. and 5 a.m. on Friday, bringing the city to an effective standstill with most businesses and the stock exchange shut.

All schools will be closed on Friday, despite being the first day of term for many, the government said.

Crowds jostled at fresh food markets in the city’s downtown Wan Chai district on Thursday afternoon with many vegetables already sold out. Supermarkets saw long queues with people stocking up ahead of the storm.

Hong Kong’s Observatory said it expects heavy rain and violent winds while the city’s water level is expected to “rise appreciably” until Saturday with potential serious flooding.

Florida’s Gulf Coast Begins Recovery While Idalia Drenches Carolinas

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Storm Idalia on Thursday inundated the Carolinas with torrential rains that threatened to trigger dangerous flash flooding, while Florida’s Gulf Coast began recovery efforts after the system tore through the region as a Category 3 hurricane.

The backend of the storm was producing heavy downpours of up to 10 inches (25 cm) in some spots along the region’s coastline on Thursday, the National Weather Service said.

The service predicted that rains would diminish during the afternoon, but warned of possible life-threatening flash flooding especially in low-lying areas and along rivers, through the evening. Storm surge watches were also in effect for several oceanfront communities as fierce winds remained in the forecast.

“Remaining efforts to protect property should be completed as soon as possible. Prepare for limited wind damage,” the service said.

As of midday, the center of the storm was moving eastward off the North Carolina Coast, about 85 miles (135 km) southeast of Cape Lookout as it carried winds of 65 mph (105 kph). Idalia was expected to curl eastward and out into the Atlantic on Thursday night.

The rough conditions in the Carolinas come a day after Idalia crashed ashore at Keaton Beach in Florida’s Big Bend region, lashing the coast with sustained winds of up to 125 mph, torrential rains and pounding surf.

Local, state and federal authorities will assess the full extent of damage in the days ahead. Insured property losses in Florida were projected to run $9.36 billion, investment bank UBS said in a research note.

While coastal communities sustained major damage, Idalia appeared to have been far less destructive than Hurricane Ian, a Category 5 storm that struck Florida last September, killing 150 people and causing $112 billion in damage.

“The community is resilient and we are going to work hard to make sure people get what they need,” Governor Ron DeSantis said during a news briefing on Thursday.

Florida has requested a major disaster declaration from the federal government for all 25 counties that fell under the hurricane warning, he said.

Deanne Criswell, head of the Federal Emergency Management Agency (FEMA), said during the news briefing that she would tour the area with DeSantis to assess the damage and that the governor and U.S. President Joe Biden have remained in close contact.

Equities All-Share Index Drops By 0.08%

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Nigeria’s domestic equities market witnessed a 0.08 percent drop on its key index in midweek trades reversing a bull run that has persisted in the market.

Investors at the Nigerian Exchange Group Limited, NGX recorded a 50.81 absolute points decline, representing a 0.80 percent drop to close at 66,439.53 points lower than Tuesday’s 66,490.34 points.

Similarly, the market capitalisation of listed equities depreciated by N27 billion to close at N36.439 trillion compared the N36.390 trillion of the previous day.

Equities Market Extends Gains By N157bn

The day’s market sentiment when measured by the market breadth in percentage term however remained positve with 26.49%, 45.83% and 11.08% in deals, volume and value to close at 10,033, 637.19 million units and N7.79 billion respectively.

The midweek transactions ended with 27 gainers and 25 decliners.

CAPHOTEL and CHIPLC led the gainers table with a 10% profit on their  respective share prices to close at N2.75k and N1.10k.

UPL followed with a 9.77% gain on its share price to close at N2.36k; then  Champion Breweries recorded a 9.72% profit on its share price to close at N3.50k.

On the flipside, TRANSCORP led the decliners list with a 9.99% loss on its  share price to close at N6.31k. CWG followed with a 9.88% drop on its share to close at N3.65k while IKEJA Hotel shares dropped by 9.84%, to close at N2.84k.

NGX Group to Pay Shareholders N495m Interim Dividend

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Nigerian Exchange Group Plc plans to pay its shareholders an interim dividend of 25 kobo per ordinary share of 50 kobo each, totaling N495.53m on Thursday.

This followed an emergency board meeting convened by the Group in July, when it disclosed its decision to electronically distribute its inaugural dividend following the demutualisation in 2021 to qualified shareholders.

NGX Decline by 0.46% Amidst Profit Taking in 24 stocks

At the company’s annual general meeting in July, shareholders demanded that a dividend should be declared. In a statement issued on Wednesday, the group said the decision to declare the dividend was as a direct response to the input and suggestions received from shareholders at the AGM.

Commenting on the dividend announcement, the Chairman, NGX Group, Umaru Kwairanga, said, “The announcement of the dividend will send a signal to our shareholders the company has a listening and responsive board following the request at the last annual general meeting. We hope to continue enjoying the support of our valued shareholders as NGX Group seeks to execute on its strategy to create sustainable growth in the medium to long term.”

Nigeria’s Stock Investors Book N1.4tn Gain in August

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Investors in Nigeria’s stock market booked about N1.411trillion gain in the month of August, a remarkable feat at the Lagos bourse which came despite trading sessions of profit-taking and bargain hunting.

The market increased by 3.44 percent in the review trading month ended Thursday, August 31.

“We have started to see profit taking in recent gainers, while the banking sector’s rebound was short-lived, as investors still await H1’23 results from GTCO, ZenithBank, Access Corporation and UBA,” said Lagos-based analysts at Vetiva Research who had also expected continued mixed trading sessions.

The market which had started August with All-Share Index (ASI) and equities market capitalisation at 64,337.52 points and N35.011trillion respectively closed the review month at 66,548.99 points and N36.422trillion.

In eight months to August 31, the market’s positive return stood at 29.85 percent.

Stock Market Sees First Gain This Week

Looking at their recent global outlook for the second half (H2) of the year, Lagos-based analysts at United Capital who noted that the Nigerian stock exchange was met with a fantastic first half in 2023 also said they anticipate a broadly favourable equities market in H2 of 2023.

They supported their expectations on two key factors: the “unification of the exchange rate”, and “advocacy for a lower interest rate environment”.

These factors they said will stand as a significant upside for the earnings performance of listed Nigerian corporates, “which will bolster investors’ confidence toward listed corporates, particularly in earning seasons (H1-2023, and Q3-2023 earnings season)”.

Cameroon And Rwanda Clean Up Ranks In Wake Of Gabon Coup

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After the shakeup in Gabon, certain African leaders have started making changes to their military roasters. 90-year-old Cameroonian president Paul Biya, and 65 years old Rwandan president Paul Kagame, reportedly sack military chiefs in their respective countries.

The duo, are firing their military chiefs in what appears to be a move to forestall the recent power seizures witnessed in Niger & Gabon over the last month, according to their press releases.

In Kigali, Kagame sacked nearly 200 military chiefs, including two four-star generals, James Kabarebe & Fred Ibingira & two three-star generals, Charles Kayonga & Frank Mushyo Kamanzi, Rwandan outlet the new times reported citing a government statement.

He also retired 83 senior officers, 06 junior officers & 86 senior non-commissioned officers, 678 end-of-contract officers, while 160 were discharged on medical grounds discharges.

In Cameroon, Biya is also not leaving his grip on the country to chance as he immediately shuffled the officers in the army, air force & marine.

Minister Pledges Increased Investments To Unlock Gas Potential

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Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has pledged to work towards attracting investments into the gas sector to unlock its full potential for national development.

The minister stated this during the inaugural meeting with ministry staff alongside the Minister of State, Petroleum Resources (Oil), Heineken Lokpobiri, in Abuja.

He said his vision is to grow gas supplies to thermal plants to improve electricity generation to consumers in the country.

He pointed out that of the 20 top gas-producing nations in the world, utilisation was least in Nigeria, hence the need for increased investments in the industry.

He also assured of greater investments in compressed natural gas (CNG) and liquefied petroleum gas (LPG) infrastructure to deepen penetration among Nigerians.

He said the gas sector held great prospects for the resuscitation of the economy and tasked workers with the need for commitment and dedication to meeting the expectations of Nigerians from the gas industry.

“Today we talk about insecurity, unemployment and even food security, but I believe that this ministry is critical to the growth of our economy. We need to grow gas supplies to our power plants so that there is improved electricity generation and supply to assist in job creation for our youths,” he said.

Ekpo assured existing and prospective investors of a conducive environment for business in the gas industry.

Permanent Secretary in the ministry, Gabriel Aduda, implored the minister to intervene in the disparity in remuneration between staff of the ministry and industry workers.

He said the ministry was endowed with quality and experienced staff to match or exceed that of operators in the industry asking that the minister assist workers enjoy petroleum service allowances.