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  • Don emphasises potential of women entrepreneurs in economic devt

    Entrepreneur

     

    By Nathan Nwakamma

     

    Yenagoa, June 13, 2024 (NAN) A Professor of Finance, Mondy Gold, has advised the country to leverage the entrepreneurial potential of women for economic development.

     

    Gold, of the Colorado State University, United States, gave the advice on Thursday while speaking at the Inter-University Summit at the Bayelsa Medical University, Yenagoa.

     

    He spoke on “Gender Dynamics in Financial Access, Investment, and Economic Empowerment: Closing the Gap in Nigeria”.

     

    He said it was essential to recognise the dynamic roles being played by Nigerian women in the entrepreneurial landscape.

     

    “From technology and agriculture to fashion and healthcare, women are establishing businesses across a diverse range of sectors.

     

    “However, despite their significant contributions, Nigerian women face disproportionate barriers that impede their full economic participation.

     

    “For any country to develop, its economy and financial sectors must be championed by visionary, innovative, and goal-oriented individuals,” Gold said.

     

    He says the entrepreneurship potential of women is evident in developed nations such as China, Australia, Germany, the United States of America, the United Kingdom, Canada, and Japan.

     

    He noted that the listed countries had achieved unprecedented success through the development of entrepreneurship, especially amongst the female gender.

     

    “These countries are reaping the benefits of the creativity and drive of women entrepreneurs.

     

    “In stark contrast, women entrepreneurs in emerging countries like Nigeria have not triumphed due to numerous challenges posed by the environment,” he said.

     

    He listed such obstacles as limited access to capital and financial planning, streamlined information, the need for tailored business skills education and inadequate direct connections to mentors and networks.

     

    He said these issues had been further exacerbated by skill gaps and entrenched social norms that inhibit women’s full participation in economic life.

     

    According to him, research has consistently revealed that boosting women’s economic participation enhances national economies and improves household productivity, living standards, and overall well-being.

     

    “Nigerian women’s businesses are pivotal in driving job creation, promoting innovation, and fostering a more inclusive and equitable economy,” he said.

     

    Gold recommended that to harness the full potential of women’s entrepreneurial endeavours, the country needed to create more viable national organisations to support women.

     

    He recommended the creation of state chambers of commerce, representing the interests of all women entrepreneurs and supporting savvy women with keen eyes for success across all industries. (NAN) (www.nannews,ng)

     

    NN/MAS

     

    Edited by Moses Solanke

  • Beyond Limits FA emerge champions of NNL Super 8

    NNL
    By Benson Ezugwu
    Enugu, June 13, 2024 (NAN) Beyond Limits Football Academy of Ikenne in Ogun on Thursday in Enugu emerged champions of the 2023/2024 Nigeria National League (NNL) after winning the Super 8 competition.
    In an entertaining encounter at the Nnamdi Azikiwe Stadium, the Academy boys defeated Nasarawa United of Lafia 4-3 after a penalty kicks shootout to win the competition.

    After 90 minutes of regulation time, the match ended two goals apiece for both sides to settle for penalty kicks.

    Farouk Ogundare put Beyond Limits Academy ahead in the 30th minute of the first half, while Anas Yusuf equalised shorty after to end the half 1-1.
    On resumption of second half, Ayodele Adesina put the Academy boys ahead in the 47th minute while in the 75th minute Moses Peter equalised for Nasarawa United.
    Farouk Ogundare of Beyond Limits was later chosen the most valuable player of the tournament.
    The News Agency of Nigeria (NAN) reports that after the final matches of the tournament, four clubsides booked their places in the Nigeria Premier Football League (NPFL).
    These are Beyond Limits, Nasarawa United, Ikorodu City FC and El-Kanemi Warriors of Maiduguri.(NAN) (www nannews.ng)
    BEN/MNA
    Edited by Maureen Atuonwu

  • Eid-el-Kabir: WNSN assures residents of safety, security in Osun 

    Security

    By Olajide Idowu

    Osogbo, June 13, 2024 (NAN) The Western Nigeria Security Network (Amotekun Corps) Osun Command, has assured residents of security of lives and property during and after the 2024 Eid-el-Kabir celebration.

     

    Brig.-Gen. Bashir Adewinmbi, State Commander, Amotekun Corps,  gave the assurance in a statement on Thursday in Osogbo.

    He said that there was no cause for alarm as the operatives of the corps were on red alert in all the local government of the state to ensure a hitch-free Eid el Kabir celebration.

    He warned officers and men of the Corps to ensure strict adherence to the extant rules of engagement and guard against acts capable of tarnishing the image of the agency.

    “As directed by Gov. Ademola Adeleke for hitch-free sallah celebration in the state, I have directed Area Commanders, Local Government Commanders, and Operational Units of the command to deploy all operational and intelligence assets at their disposal.

    “They are to effectively protect their areas of responsibilities and ensure smooth celebrations during and after Eid-el-Adha festivities.

    “I entreat all and sundry to celebrate responsibly and peacefully as well as call on Muslims Ummah to use the period to pray for the peace and progress of Osun State and Nigeria at large,” Adewinmbi said

    The corps commander urged residents to reawaken and genuinely demonstrate the true nature of Prophet Mohammed, which is exemplified by his love and selflessness.

    He also called on residents to remain supportive, law-abiding, and vigilant, while promptly reporting acts of crime and criminality to the nearest Amotekun command and other security agencies. (NAN) (www.nannews.ng)

    ID/OIF/AOS

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    Edited by Ifeyinwa Okonkwo/Bayo Sekoni

     

  • Derivation fund: Eno advocates direct payment to oil-producing communities

    Fund

    By Sunday Bassey
    Uyo, June 13, 2024 (NAN) Gov. Umo Eno, of Akwa Ibom, has suggested that payment from the 13 per cent derivation fund should be made directly to the oil-producing communities.

    The governor stated this on Thursday while addressing a cross-section of students at the University of Uyo, shortly after his PhD Seminar presentation.

    He said that there was need to provide a sincere legal framework to make oil-producing communities to benefit directly from the fund.

    ”The framework will enable oil producing communities, traditional rulers, youth associations, community development councils, among others to directly benefit from the fund,” he said.

    The governor urged youths in the state to engage in self-development in order to take advantage emerging global opportunities.

    Eno said that it was highly advisable for youths to upgrade themselves in preparation for opportunities.

    “We have to learn how to prepare and wait for opportunities because in life, opportunities may never wait for anyone.

    “Although it is good to ask governments to build the youth, it is also very good for the youth to build themselves in order to fit into today’s highly competitive society,” he said.

    Eno restated his administration’s commitment towards the educational development of the state through the ARISE Agenda.

    He promised that bursary payment to Akwa Ibom students and other education support programmes would be implemented under his watch as the governor.

    The governor said that his visit to the university was part of his desire and commitment towards self-development

    “I finished my course work some years ago but could not proceed with the other requirements for the award of a PhD due to my political engagements.

    “Having done my seminar presentation today, I am now ready to complete the entire process,” he said.

    NAN reports that the governor presented a seminar paper titled: “Natural Resources Governance and Socio-Economic Development of Oil-Producing Communities in Akwa Ibom”(NAN) (www.nannews.ng)

    SDB/MAM/AZU

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    Edited by Modupe Adeloye and Azubuike Okeh

  • Lagos seeks robust finance to mitigate climate change challenges

     

     

    Summit
    By Fabian Ekeruche
    Lagos June 13, 2024 (NAN) Gov. Babajide Sanwo-Olu of Lagos state has called for  continuous increase and sustained financing to address climate change challenges in the state.
    Sanwo-Olu said this at the closing ceremony of the 10th Lagos International Climate Change Summit, on Thursday, in Lagos.
    The governor emphasised the need for collaboration among governments, financial institutions, and international organisations to bridge the financing gap.
    The News Agency of Nigeria (NAN) reports that the governor was represented at the summit by his deputy, Dr Obafemi Hamzat.
    Sanwo-Olu highlighted the urgency for governments to direct resources toward projects that provided tangible benefits for communities and ecosystems.
    “We are committed to fostering a supportive environment for climate finance and local adaptation initiatives, ensuring that all efforts align with the insights and expertise shared,” Sanwo-Olu said..
    He commended the participants for their resolve to work with all stakeholders to transform discussions into concrete actions that benefited both communities and the environment.
    He stressed that accelerating climate finance involved not only mobilising funds but also ensuring that these resources reached those most in need.
    He noted that to achieve the set objective required creating financial instruments that are accessible, equitable, and effective.
    Sanwo-Olu emphasised the government’s commitment to prioritising capacity building and knowledge sharing, adding that this would involve empowering local communities with skills, tools, and knowledge needed to develop and implement adaptation strategies.
    He also stressed the importance of strengthening policy frameworks and regulatory environments to support climate action, while maintaining a commitment to inclusivity and equity.
    According to him, climate action must be inclusive, ensuring that marginalised and vulnerable groups are not left behind.
    He highlighted the importance of giving women, youths, indigenous peoples, and other underrepresented communities a voice in  decision-making processes that affected their lives and livelihoods.
    NAN reports that experts at the summit highlighted innovative financing mechanisms, such as green bonds and climate insurance, and the importance of leveraging both public and private sector investments.
    The discussions underscored the necessity of a systemic shift in how financial resources are perceived and deployed for climate action. (NAN)(www.nannews.ng)
    FBO/CHOM/JNC
    ==============
    Edited by Chioma Ugboma/Chinyere Joel-Nwokeoma

  • Food security: Experts call for regulation of agroecology

    Experts call for regulation of agroecology

    Regulation

    By Eneh Awodi
    Abuja, June 13, 2024 (NAN) Experts in the organic agriculture sector have called for regulations of agroecology practices to meet with the increasing demand for organic agricultural produce and products.

    The experts made the call at a stakeholders meeting with the theme, ‘opportunities and challenges of agroecology thinking, knowledge, and practice’, in Abuja.

    One such expert, ActionAid Nigeria’s Food and Agriculture Programme Manager, Azubike Nwokoye, said this was necessary to address the challenge of food security in the country.

    He said that agroecology was capable of minimising future widespread disruptions of the nation’s food supply by pandemics and climate change.

    This, he said, would be done by enhancing linkages between small-scale food production and local consumption.

    Nwokoye expressed concern that Nigeria loses about 362.5 million dollars yearly in foreign exchange to the ban on exportation of beans.

    “We need to get it right in terms of the opportunities.

    ”Agroecology helps us in terms of livelihood diversification, so farmers can have different crops, plant different crops in a small piece of land, while the land continues to sustain itself.

    “It can also be combined with aquaculture, and this will help in terms of rapid increase in income because farmers are planting different things on the same land.

    “It also supports food security, helping us to achieve food security and meet the Social Development Goal (SDGs),” he said.

    Nwokoye, therefore, called for a National Agroecology Strategy to be domiciled in the Federal Ministry of Agriculture, and Food Security for coordination and scale up of Agroecology programmes in the country.

    He said that Organic Agriculture was one of the fastest developing sectors of agriculture globally, adding that, it was also one of the easily misconstrued aspects of agriculture.

    ”Hence the need for Nigeria to take advantage and earn more foreign exchange,” he said.

    Nwokoye lamented that in spite of the many opportunities; development of organic agriculture in Nigeria was still very low.

    He said that though agroecology was a recent concept in agriculture, poor understanding had stalled its development in Nigeria compared to other Africa countries.

    “As part of what should be done to solve the problem of highly hazardous pesticides, there should be a National Framework for Indigenous Plants, Seeds, Seedlings and Livestock for Agrobiodiversity Preservation and Promotion,” he said.

    On the benefits of agroecology, Nwokoye said it improved health and nutrition, did little damage to environment, less costly, encouraged biodiversity, reduced nutrient losses and reduced erosion.

    He added that it also encouraged better water management, low use of non – renewable resources, safer working conditions and less risk of contamination.

    Nwokoye said that agroecology could build on traditional knowledge, recognises farmers’ knowledge and provides access to organic markets.

    Earlier, the Coordinator of Organic and Agroecology Initiative (ORAIN), Prof. Olugbenga Adeoluwa, noted that ‘organic’ was fast developing, but lamented that understanding the opportunities within the system was low.

    “Agroecology is coming up, and if we cannot go organic on all the crops, how do we reduce this hazardous chemical intake of foods that our body cannot digest,? he said.

    Adeoluwa called for a change in orientation since the global market as of 2022 was close to 135 billion euro, adding that, what share of this huge market does Africa commands?

    “Another important thing about organic system is the components, which include standards, labeling, and marketing, all these go together to protect the integrity of the products to minimise fake,” he said.

    President of Organic and Agroecology Initiative (ORAIN), Prince Peter Bakare, said the meeting was to look inward to see how to promote organic crops to address the challenge of food security in the country.

    “We have to move forward, by strengthening enlightenment in all that we do, but unfortunately, Nigeria is a place where anything goes.

    “We should be resolute and courageous enough to fight the battle and be on our guard while remaining productive, to have safe food to eat in the country.

    “We need to form a formidable force to grow organic agriculture and agroecology in this country,” he said.(NAN)(www.nannews.ng)

    ENEH/DE/IAA

    ========

    Edited by Dorcas Jonah/Isaac Aregbesola

  • Oborevwori lauds army professionalism, withdrawal from Okuama community

    Army

     

    By Ifeanyi Olannye

     

    Asaba, June 13, 2024 (NAN) Gov. Sheriff Oborevwori of Delta on Thursday lauded the Nigerian Army (NA) for its professionalism, especially in handling the incident of the killing of soldiers at Okuama Community.

     

    Oborevwori made the commendation at the visit of the General Officer Commanding (GOC), 6 Division of the NA, Port Harcourt, Maj.-Gen. Jamal Abdulsalam, to him in Asaba.

     

    He said the state government would sustain the partnership between it, the military and other security agencies for effective security and socio-economic development of Delta.

     

    Approving the construction of internal roads at the 6 Brigade Headquarters, Asaba, the governor added that the army had played significant roles in securing the country.

     

    “It is not in our character to take somebody’s life, not to talk of security officers. Once again, we commiserate with the NA and the families of the slain officers.

     

    “As a government, we will continue to collaborate with the NA for effective security in line with our M.O.R.E Agenda, which is to enhance peace and security.

     

    “The army has played a very big role. We are lucky as a state to have three different battalions – 3, 90 and 181 Battalions, and even a Brigade.

     

    “I remember in those days when we were under the 4 Brigade in Benin, which was under 2 Division in Ibadan, so, I know the formation as at that time. Now, we have our own close to us in Rivers State here.

     

    “I have promised Deltans to ensure that they have peace and with the army and other security agencies, there is no way we cannot have peace.

     

    “As an oil-producing state, the pipelines have to be secured. This will encourage investors,” he said.

     

    Oborevwori said the Certificate of Occupancy (C of O) of the 56.35 hectares of land, given to the Amphibian Battalion by registered trustees of Iweroko and Ameren in Koko, was ready.

     

    According to him, the cost of the C of O, made up of N598 million for assessment and N14 million for ground rent, was too huge for the army, hence the state government gave a waiver.

     

    “I mandated the Commissioner for Lands to make sure the C of O was ready. So, you are going home with it today,” he said.

     

    Earlier, the GOC said he was in the state to thank the state government for all the support and cooperation the NA had received over the years.

     

    Abdulsalam appreciated the governor and the trustees of the Iweroko and Ameren for the parcel of land, meant for the construction of an army barrack.

     

    He also lauded Oborevwori for his deft diplomacy, strategic role and cooperation in resolving the Okuama incident.

     

    He assured that the NA would continue to discharge its responsibilities of ensuring effective security in the state and across the Niger Delta with utmost professionalism.

     

    Abdulsalam solicited the state government’s support in constructing internal roads and building more structures at the barracks in Asaba and Koko. (NAN) (www.nannews.com.ng).

     

    IO/MAS

     

    Edited by Moses Solanke

    ===========

     

  • First Lady donates 50,000 notebooks to pupils in Kogi

     

    R-L: Wife of Kogi Gov. Hajia Sefinat Ododo, presenting the notebooks to Kogi Commissioner for Education, Wemi Jones, for onward distribution to pupils, donated by Mrs Oluremi Tinubu

    Donation

    By Stephen Adeleye

    Lokoja, June 13, 2024 (NAN) The First Lady, Sen. Oluremi Tinubu has donated 50,000 notebooks to pupils in public primary schools in Kogi State, under her “Renewed Hope Initiative” project.

    The News Agency of Nigeria (NAN) reports the inauguration of the notebooks was done on Thursday at the Government House, Lokoja  by the wife of Kogi Governor, Hajia Sefinat Ododo.

    Speaking in her capacity after unveiling the notebooks,  Hajia Ododo appreciated the President’s wife for her commitment to educational development and empowerment of children in public schools across the country.

    She commended Mrs Tinubu for her visionary leadership and passion to ensuring quality education for all, stressing that the initiative remained an inspiration worthy of emulation.

    The Kogi governor’s wife promised to continue to emulate and support the Nigeria’s first lady for a better output, noting that the notebooks were being distributed across the 36 States of the federation.

    Mrs Ododo urged the people of Kogi to continue to support her husband to take Kogi to greater heights.

    She reaffirmed the governor’s commitment to continue to bridging the gaps in ensuring quality education in the state.

    She advised the pupils to take their studies seriously, while urging  stakeholders to ensure equitable distribution of the notebooks across public primary schools in the state.

    Also speaking, the state’s Commissioner for Education, Mr Wemi Jones, commended the wife of the President for the gesture towards the development of education in Kogi State.

    Jones emphasised that education palliative remained the most sustainable assistance to the people, stressing that Gov. Ododo’s administration would not compromise the educational needs of Kogi children.

    Jones stressed that the former Governor, Alh Yahaya Bello, handed over to Ododo who had been trained and groomed to take education to another higher level in Kogi.

    The commissioner assured that the necessary structure had been put in place to ensure that the notebooks get to the targeted beneficiaries.

    Jones reaffirmed the commitment of Ododo’s administration to ensure that education remained free at basic and secondary levels in public schools across the state.

    “Education is free in Kogi. We are paying for all exams; both internal and external examinations at basic and secondary school levels in the state.

    “As a ministry, we are irreversibly committed to taking education to higher level in Kogi because we have a governor that is fully ready and committed to education development,” Jones said.

    NAN reports the highlight of the occasion was the unveiling of the notebooks for distribution by Hajia Ododo.

    She subsequently handed them over to the commissioner for education for onward distribution to pupils across the state. (NAN)(www.nannews.ng)

    ASA/ROT

    ========

    Edited by Rotimi Ijikanmi

  • Oyo Assembly passed 16 bills, 170 resolutions in 1 year- Speaker

    Oyo assembly passed 16 bills, 170 resolutions in 1 year- Speaker

    By Oluwaseyi Oduneye-Ogunwomoju

    Bill

    Ibadan, June 13, 2024 (NAN) Mr Adebo Ogundoyin, Speaker of Oyo State House of Assembly on Thursday said the 10th Assembly, under his leadership ,has passed 16 bills since it was inaugurated in 2023.

    Ogundoyin disclosed this at a special plenary to commemorate the first  anniversary of the 10th Assembly in Ibadan.

    The speaker said that nine of the bills had been assented to by Gov. Seyi Makinde.

    He also said four other bills were at various stages of legislative process in the Assembly.

    Ogundoyin  said that the Assembly also passed 170 resolutions during the period under review.

    He added 68 motions were moved by members and 35 oversight reports were presented by different House committees.

    Ogundoyin stated that members of  Assembly would  continue to strive for excellence, good governance and socio-economic uplift  of the state.

    According to the Speaker,  this will  be achieved through enactment of people -oriented bills, passage of resolutions and motions, among other constitutionally assigned responsibilities.

    ” There is no doubt that we have witnessed steady progress in the last 12 months.

    ” We have  not only worked tirelessly to review and pass important bills, we have also  debated on ethical issues, and represented our constituents with dedication and pride.

    “We have also remained united and cohesive under “Omituntun 2.0 agenda” of the  governor.

    ” I commend my fellow legislators for their high level of commitment and patriotism to the welfare of the good people of Oyo state.

    ” This is in tandem with my acceptance speech during our inauguration, where I promised that the 10th assembly will work vehemently to surpass the achievements of past assemblies.

    “From the available records, the achievements of the 10th assembly in its first year has surpassed the achievements of the first legislative record of the 9th assembly,” he said.

    Ogundoyin  said that the Assembly  also passed a  bill that aided the implementation of the Sustainable Action for Economic Recovery (SAFER Programme) Agenda of the  state government.

    The speaker, however, urged his colleagues to do more ,with  sincerity of purpose and determination, to make the House  among the best houses of  assembly in Nigeria.

    “The 10th assembly is poised for greater services to the people of our state.

    “As legislators, we shall not rest on our oars in ensuring that the dividends of democracy are delivered to the people of our dear pace setting state,” he said.

    The News Agency of Nigeria (NAN) reports that Makinde had on June 13, 2023  proclaimed the 10th state house of assembly.(NAN) www.nannews.ng

    SEY/VE/BHB

     

    Edited by Buhari Bolaji

     

    Edited by Victor Adeoti

     

     

     

     

     

     

     

     

     

  • GTCO notifies SEC of proposed offering to raise N500bn proceed 

     

    Notice

    By Rukayat Adeyemi

    Lagos, June 13, 2024(NAN) Guaranty Trust Holding Company Plc (GTCO) has filed a preliminary “red herring” prospectus with the Securities and Exchange Commission (SEC) to raise a proposed offering of N500 billion gross proceed.

    This was disclosed in a notice sent by the holdings to SEC on Thursday in Lagos.

    The notice said the prospectus filed to the regulator was in connection with a proposed offering for subscription of ordinary shares of 50 kobo each in its share capital, to raise gross proceeds of up to N500 billion.

    It stated that the number of ordinary shares to be offered and the price range for the proposed offering had not yet been determined.

    The notice was issued in reliance on Rule 283 of the Rules and Regulations of SEC.

    The notice read: “This notice does not constitute an offer to sell or the solicitation of an offer to buy any securities.

    “Any offer, solicitation or offer to buy, or any sale of securities will be made only by a prospectus duly registered by SEC.

    “In accordance with the provisions of the Investments and Securities Act, No. 29, 2007 (the Act) and the rules and regulations of the SEC made pursuant to the Act (the SEC Rules).

    According to the notice, the net proceeds of the proposed offering will be used for the growth and expansion of the GTCO Plc Group’s businesses.

    It said such planned growth and expansion would be effected through investments in technology infrastructure to fortify existing operations.

    The notice stated that the proceeds would also be used for the establishment of new subsidiaries, selective acquisitions of non-banking businesses and the recapitalisation of Guaranty Trust Bank Ltd.

    According to the notice, the proposed offering is structured as an institutional offering, targeted at eligible investors and a retail offering within Nigeria.

     

    It added it is a private placing to persons reasonably believed to be qualified institutional buyers outside Nigeria, noting that the proposed offering is anticipated to open by July.

     

    “The filing of the Red Herring Prospectus was undertaken with a concurrent filing of a preliminary universal shelf registration.

    “The universal shelf registration will permit GTCO Plc to establish a multi-currency securities issuance programme to issue various types of securities, or any combination of such securities, in one or more offerings, from time to time.

    “This is to raise proceeds in an aggregate amount of up to 750 million US dollars (or equivalent amount in Nigerian Naira) in the Nigerian/international capital markets during the validity period of the programme.

    “The proposed offering is expected to be the first issuance under the programme.

    “For a caveat,this notice does not constitute an offer of securities for sale in the United States or to U.S. persons (“U.S. persons”).

    “As such term is defined in Regulations promulgated under the United States Securities Act of 1933, as amended, (the U.S. Securities Act),”the notice said.

    According to the notice, the ordinary shares being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws.

    The notice also noted that the shares may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.(NAN)(www.nannews.ng)

    RUKY/AWA

    ===========

    Edited by Olawunmi Ashafa