Blog

Group urges CBN to introduce special loans for agric, housing

NAN-AE-16
Loans
By Yetunde Fatungase
Abeokuta, Sept. 20, 2016 (NAN) Association of Professionals for Promotion of Civil Values has requested the Central Bank of Nigeria (CBN) to boost the Nigerian economy with special loans for critical sectors of the economy.

The request is contained in a statement jointly signed by the President of the group, Mr Kunle Ashimi and the Secretary, Mr Ayo Murtala on Tuesday in Abeokuta.

The group of professionals noted in the statement that special loans for critical sectors like agriculture, manufacturing, housing and exports would positively affect the growth of the Nigerian economy.

They decried the current economic recession, which gives room for increasing inflation rate, rising consumer price index, dwindling foreign reserves and gross domestic product.

The group, which cuts across various professions in the country, came out with such solutions to revive the ailing Nigerian economy, after deliberations.

They observed that the cost-push inflation of about 17.6 per cent have characterised the economy in recent times.

The professionals called for certain financial measures, which include lower interest rates for government and investors to borrow money locally as requested by Minister of Finance, Mrs Kemi Adeosun.

Others are special loans for critical economic sectors in order to quickly fix the ailing economy.

“CBN should take the following advice so as to relieve the masses of some of the continued burden occasioned by its previous economic decisions.

“We want CBN to stop increasing Monetary Policy Rate (MPR) as inflation hikes; in fact, reduce MPR by 200 basis points.

“Raise a medium term (5-7years) industry stimulation bond well priced between 9-14 per cent to target Agriculture value chain businesses and export related business such as extraction, processing and milling, storage and logistics.

“Design  a collaborative framework between Bank of Industry (BoI), Bank of Agriculture (BoA) and CBN to issue the bond under a private equity company, listed on the Nigeria Stock Exchange (NSE for transparency) to manage the fund alongside commercial banks.

“Reduce the required liquidity ration of banks by 10 per cent with a caveat on specific industry of target (Export, Housing and Agriculture) and ensure full compliance.

“This will push some liquidity into the system.

“Just like CBN is quick to fine defrauding banks on regulatory infractions, the CBN should also openly celebrate banks that have displayed support for industrialisation based on the portion of their balance sheet devoted to such course.

“A Presidential Award should be inaugurated for that along other fiscal and monetary incentives, ‘’ the statement said. (NAN)
YAF/FAT/AFA
Edited by Fatima Sule/Felix Ajide
========================

NAN-ELS-5

Festival

By Ahmed Ubandoma

Abuja, Sept. 20, 2016 (NAN) Mrs Dayo Keshi, the Director-General, National Council for Arts and Culture (NCAC) says efforts are being made to reposition the NAFEST festival as part of measures to boost the nation’s economy.

Keshi said this when she led other officials of the NCAC on a courtesy visit to the Managing Director of the News Agency of Nigeria (NAN), Mr Bayo Onanuga in Abuja on Tuesday.

The director-general, who sought partnership with NAN to promote the 2016 edition of the festival, said that it had become one of the most competitive events in Nigeria.

Keshi also noted that the event was the oldest national festival with representatives from the 36 states and FCT.

“It provides a formidable platform in the bottom up approach to wealth creation as most of the participants are drawn from the grassroots of each local government in the states.

“It is key in showcasing the economic strength of festivals as it provides a large inflow of participants, tourists filling up hotels, increased transport, thereby  making it a veritable tool in the diversification of our economy.”

She said that the festival was capable of generating revenue for ministry as well as boost economic activities in the country.

Citing an example, she said that pure water vendor who sold N1,000 daily, could earn N10,000 daily during the national festival.

She said that the event which was scheduled to hold between Oct. 2 and Oct. 9 would feature children participation in indigenous poetry performance and children drawing and painting competition.

According to her, the festival will also feature Cultural Market, Drama, and Indigenous Furnished Apartment Competition among others.

Keshi stated that the festival with the theme; “Exploring the Goldmine Inherent in our Creative Industries” would hold in Akwa Ibom.

Responding, the managing director of NAN Onanuga assured the delegation of the agency’s support in the coverage of the event.

He said that the agency had a better network coverage that the festival needed to promote the nation’s cultural heritage.

Onanuga said that the agency recently launched two different website in a bid to ensure better service delivery to its subscribers and other readers.

He expressed NAN’s readiness to support the NCAC to give Nigerians and the world a befitting festival.

NAN reports that the National Festival for Arts and Culture (NAFEST) is an annual event organised by the NCAC to showcase Nigeria’s rich cultural heritage. (NAN)

AMU/EEE

========

Edited by Ese E. Ekama

Rio Paralympics  Games: Ekiti Par athletics commends Nigerian contingent

NAN-S-12

Par athletics

Adedeji Egbebi

Ado-Ekiti, Sept.20, 2016 ‎(NAN) Ekiti Par athletics Association on Tuesday commended Nigerian contingent, especially the Para-power lifters who won gold medals in the just concluded Rio Paralympics Games in Brazil.

Head Coach of Para- power lifting, Ganiyu Arowolo, made  the commendation in an interview with the News Agency of Nigeria(NAN) in Ado-Ekiti.

He said the outstanding performance ‎of Team Nigeria was an indication that physically challenged athletes were capable of doing the country proud in international competitions.

Arowolo attributed  the success of the Para- power lifters ‎to hard work, training, commitment and determination to win medals in the competition.

He appealed to the state government to assist the Para-power lifers with sports equipment, such as weight, weight bench and training hall  to compete in National and international competitions.

Head of Para Sports ‎in Ekiti, Peter Ojo, said the par athletes and power lifters excelled in Rio because of maximum concentration during the Games.

“ In the course of the competition, there was no preferential treatment given to them that the able athletes did not get.

“ But, the physically challenged athletes won 12 medals, eight gold, two silver and two bronze.

” The team  wiped the tears of Nigerians when the able athletes failed  to win medals in the Rio Olympics Games.

“And the Para-lifters who won gold medals and set world records  achieved ‎such huge success as a result of their exposure to National, International and  World championship, competitions, trials and regular training,” he said.

According to Ojo,  One of my athlete, Segun Rotawo who is number one in Nigeria, two in Africa and four in the World four years ago, ought to have participated in the competition but  was dropped in camp and he falls in the category T11(‎total blind athlete).

“But, I was later informed that it was as a result of politics that caused it and I believe in sports, politics should not be allowed to thrive because it will discourage the athletes.

” If he had been included, he would have won more medals for Nigeria but the Para lifters were able to make the country proud as a result of their full concentration,” he said.

Ojo called on philanthropist, non-governmental organisations, ‎and the state government to provide training equipment for the par athletes and power lifters in Ekiti.

He said the athletes needed standard‎ training equipment such as track wheelchair, power lifting bench, sets of weight and training halls to enhance their skills.(NAN)

DJ/MEMO

========

Story Edited by Mike Mbonye

NAN-H-78
Cooperation
By Temitope Ponle
Abuja, Sept. 20, 2016 (NAN) ECOWAS and the United Nations Office on Drugs and Crime (UNODC), have signed a letter of cooperation to implement the UNODC programme and ECOWAS Action Plan in the fight against Illicit drug trafficking and organised crime.

A statement from the Commission on Tuesday in Abuja, said that the letter of cooperation was signed in an event on the side-lines of the ongoing 71st Session of the United Nations General Assembly in New York.

The joint event was for the launch of UNODC’s Regional Programme for West Africa (2016-20) and the ECOWAS Plan of Action to Address Illicit Drug Trafficking, Organised Crime and Drug Abuse in West Africa (2016-20).

According to the statement, the signing of the letter was a confirmation of the commitment of both parties to ensure an effective and integrated implementation of the programmes developed to fight drug abuse in West Africa.

It stated that the cooperation came at a time when the sub-region was being threatened by transnational organised crime, illicit drug trafficking, terrorism, corruption, laundering of criminal assets and terrorism financing among others.

“These constantly evolving threats if left unchecked, will ultimately compromise social, economic and human development in the region.

“Following the evaluation of the results of the UNODC Regional Programme and the ECOWAS Plan for West Africa 2008 to 2014, and considering emerging threats and trends, the UNODC has developed its new Regional Programme for West Africa.

“And ECOWAS has elaborated its Regional Action Plan to Address Illicit Drug Trafficking, Organised Crime and Drug Abuse in West Africa, both an implementation period covering 2016 till 2020,” the statement said.

News Agency of NigeriaNAN) reports that the two strategic documents are aim to mobilise joint efforts to successfully face current and future threats in West Africa.

The documents would also support national, regional and inter-regional actions to strengthen the capacities of states in areas of governance, security and health promotion.

The letter of cooperation was signed by Mr Marcel de Souza, ECOWAS Commission President and Mr Yury Fedotov, Executive Director, UNODC. (NAN)

Edited by Julius Enehikhuere
=====================

Customs Area Command generates over N1.4bn in 8 months

NAN-HE-9

Revenue

By Aminu Ahmed Garko
Sokoto, Sept. 20, 2016 (NAN) The Sokoto Area Command of Nigeria Customs Service (NCS) said it generated N1.46 billion revenue from Jan. to August.

Mr Sani Madugu, the Area Controller for Sokoto, Kebbi and Zamfara States, disclosed this to the News Agency of Nigeria (NAN) in Sokoto on Tuesday.

Madugu said that adequate security measures had been put in place to check any form of smuggling as a business in the area.

He said that the command had collected over N676.3 million million as revenue from January to August 2015.

The Controller explained that concrete measures had been put in place to prevent all forms of smuggling businesses in the area.

He said that officers at the border posts had been briefed on measures to prevent smuggling.

“We have positioned our officers in all the identified routes of smugglers in our areas of jurisdiction to apprehend them for prosecution,” he said.

Madugu called for the support of traditional rulers in the border communities to assist officers with intelligence reports that could lead to arrest and prosecution of smugglers.

He said that prompt information on movement of smugglers would enable officers to come out with measures that would lead to their arrest.

“We are battle ready to meet any smuggler at the field in our resolve to discharge our primary assignment diligently,” he said. (NAN)
AAG/FF/IA

Edited by Fela Fashoro/Idris Abdulrahman

Brexit will cost us jobs says Dutch Government

NAN-F-8
Jobs
The Hague,Sept.20, 2016 (dpa/NAN) The Dutch Government issued a warning on Tuesday at the official opening of Parliament that Britain’s departure from the EU, the so-called Brexit, would mean fewer jobs at home.

News Agency of Nigeria (NAN) reports that Britain had on June 23, voted to leave the EU after a historic referendum in which they rejected the advice of the main Westminster party leaders and instead took a plunge into the political unknown.

“Britain is an important trading partner and Brexit will cost jobs, also in our country,” the government said in a speech delivered by King Willem-Alexander before parliament in The Hague.

Cooperation in Europe is crucial for the Netherlands, the king said in a text prepared by the government to present its plans for the coming parliamentary year to lawmakers.

The government said it would achieve economic growth of 1.7 per cent this year.

The coalition government under conservative-liberal Prime Minister Mark Rutte is presenting its final plan for government as a general election is due to take place in March 2017 (dpa/NAN)

(Edited by Isaac Aregbesola/Julius Enehikhuere)

NAN-H-77

Jobs

By Bukola Adewumi

Abuja, Sept. 20, 2016 (NAN) The Nigerian Labour Congress (NLC) has called on the Federal Government to adopt its proposal on how it could create four million jobs yearly.

The President of the congress, Comrade Ayuba Wabba, said at the opening of the NLC National Youth Conference in Abuja on Tuesday that it had worked out the modalities for the job creation.

Wabba said that a report was submitted to the Federal Government on how it could ease off the burden of unemployment among the youth.

“The NLC as far back as 2009 had worked with the ILO and the Federal Ministry of Labour to work out an employment initiative during the job summit; that report is still very valid.

“When I see the government running helter-skelter to create jobs, I have always referred them to that document where we have put up an initiative on how four million jobs can be created annually through very wide range of activities.

“This is by looking at all the sectors of our economy, from agriculture to mining and the areas of manufacturing that have not been utilised and I think that report is still very valid,” he said.

He said that the NLC would put pressure on the government to ensure full implementation of the report, adding that it will advance and ensure that the report materialised.

“This is one of the first document we submitted to Dr Chris Ngige as the Minister of Labour and Employment when he assumed office; we encourage the government to try to look through that document.

“We have so many solutions that are yet to be referred to; we have Vision 2010 document which is a very good document that nobody has referred to,” he added.

Wabba said that the NLC did its home work, thought it through and saw the workability of the proposal before submitting it to the Federal Government.

He said that all the challenges “we are passing through today have been envisaged and solutions provided in that document”.

He said that the 2014 conference report envisaged the challenges the country “is passing through and provided enough solution to the problem of unemployment.

“When people are looking for new solutions, I think we are just merely trying to shy away from that challenge.

“That document can be dusted and solution provided,” the labour leader said. (NAN)
BOL/DO/MVO

(Edited By David Onilede/Mbadiwe Okwor)

NAN-H-68
University
Jalingo, Sept. 20, 2016 (NAN ) Gov. Darius Ishaku of Taraba on Tuesday said that he would upgrade the Taraba State University to the standard of a reputable institution in the country.

Ishaku said this in Jalingo on Tuesday when he received a report from the university’s visitation panel, set up to review the administrative structure and process of the institution.

According to him, the panel’s recommendation will be adopted and implemented to enhance academic activities in the university.

He said “my passion is to reinvigorate the institution; make it enviable and admirable by all and sundry.

“We will use the report of the panel to make this university to answer a good name as the prestigious Ahmadu Bello University (ABU).”

Ishaku stressed that the essence of the review was to reposition the institution, rather than a witch-hunt as being speculated in some quarters.

Ealier, the Chairman of the panel, Prof. Abbas Bashir, had told the governor that the review was a routine practice enshrined in the laws of
Federal, States and private universities in the country.

He listed the challenges of the institution to include the absence of academic planning division, the lack of research unit, the lack of dependable physical master plan and poor state of the library.  (NAN )
NB/TO/HA
=========
(Edited by Tola Okinbaloye/Hadiza Mohammed-Aliyu)

Akwa Prime Hatchery produces 1m birds every 6 weeks – Official
NAN-AE-15
Birds
Uyo, Sept. 20, 2016 (NAN) Akwa Prime Hatchery and Poultry Ltd. has the capacity to raise one million birds every six weeks, Mr Moses Armstrong, Special Assistant to Gov. Udom Emmanuel on Agriculture has said.

Armstrong disclosed this in an interview with the News Agency of Nigeria (NAN) in Uyo on Tuesday.

He said the hatchery, situated in Mbiaya Uruan, in Uruan Local Government Area of Akwa Ibom would help boost the economy of the state.

He said the company owned by the state government has the capacity to meet market demands considering its present production rate of over 22, 000 birds per day.

Armstrong noted that the Ministry of Agriculture not only raises the birds but also do off taking immediately the birds mature.

“The hatchery has the capacity of raising at least one million birds every six weeks, and we are also doing what we call off taking, immediately we finish growing the birds,” he said.

According to him, the ministry partners with the Nigerian Agricultural Insurance Corporation (NAIC) to insure the facility, due to the risks involved.

“If you have 100 per cent mortality, it will affect the facility. What we did was to bring in NAIC to insure those birds at 2.5 per cent per annum,” he said.

The special assistant said the poultry had been supplying day old chicks (DOCs) to farmers in the state without any record of mortality.

He observed that before the hatchery was built, farmers travelled to Ibadan, in Oyo to get stock for their farms, which increased the mortality rate of their birds.

Armstrong said the state has a team of veterinary doctors that vaccinate the birds at a cheaper rate.

He said the hatchery had created over 300 jobs for the teeming youths in the state.

He expressed the hope that the ministry, through the hatchery, would meet the needs of poultry farmers in the state. (NAN)
SDB/CEO/AFA
Edited by Felix Ajide
================

NAN-HE-21

Business

By Funmilayo  Adeyemi

Abuja, Sept. 20 , 2016(NAN) Mrs Regine Hess, the Deputy Ambassador of the  Federal Republic of Germany to Nigeria, on Tuesday  urged the Federal Government to improve on the investment climate so that German companies could operate effectively in the country.

Hess made the call when she received  in audience a delegation from `Salute Nigeria Initiative’ (SNI), an NGO,  in Abuja.

The News Agency of Nigeria (NAN) reports that the delegation was led by  the organisation’s Coordinator, Mr Chielo Ojirika.

The deputy ambassador  acknowledged that the economic potential in Nigeria was great.

She, however,  urged the government to  take urgent action to improve the general operating environment.

“In general, though the potential is enormous, the framework is hampering German companies to operate.

“Take for example, Lufthansa airline has reduced operation due to the economic circumstances.

“Therefore, a good working environment must be put in place.

“Challenges of security, kidnapping in the South is also hindering development and this must be looked into critically.’’

Hess said that the Government of Germany would help Nigeria to overcome these challenges.

She also pledged to work for a better working relationship between the two countries to strengthen the economy of Nigeria.

Earlier, the coordinator said  that it was necessary for the Government of Germany to tap into the potential in Nigerian youths to further enhance the relationship between the two countries.

“Germany’s economy revolves around SMEs. We are requesting for your support in unlocking the potential of SMEs to Nigeria youths through exchange programmes and vocational training.

“Germany and Nigeria are also major football nations. We are calling on the Government of Germany to have football institute in Nigeria where talents will be discovered and exported to other parts of the world.”

Ojirika also advised the German government to take advantage of developments in agro-allied industries as it would also strengthen bilateral relationships between the two countries.

“Nigeria has a large and rapidly expanding market given the present population of about 180 million.

“As a result, the raw material base for agro-allied industries has widened tremendously and with the current diversification, the economy is projected to grow.

“Germany can take advantage of this favourable development in the areas of storage, irrigation, preservation, processing and packaging,’’ he said.

Ojirika said that with the efforts of the governments of the two countries in the area of  crime prevention, technology transfer and training, potential would be unlocked to achieve greatness.

He said that the organisation was borne out of the need to change the mindset of Nigerians towards international organisations.
Ojirika said that changing the mindset of Nigerians culminated into designing a project tagged: “Change the Mindset Empowerment for a Productive Nation”.

He said the project was aimed at unlocking potential and realising greatness in the youths.

NAN reports that SNI is pursuing the mandate of discovering and empowering talents, skill acquisition and development in the area of Information and Communication Technology.

It has also ventured into empowering youths in agriculture, music, films and sports.

NAN also reports that the project would be officially launched on Oct. 28 and 29 in Abuja. (NAN)
FAK/DO/NKO

===========

Edited by David Onilede

===============