All Posts in "Month: December 2021"

2022: Lagos Assembly Passes N1.758trn Budget 

Lagos Assembly Passes N1.758trn Budget For 2022 | Naija News
The Lagos State House of Assembly has  passed the Year 2022 budget estimate with a slight increase of the grand total from the initial N1.38 trillion to N1.758 trillion.
The budget was passed at a sitting presided over by the Speaker of the House, Rt. Hon. Mudashiru Obasa, after a presentation of the report by Hon. Gbolahan Yishawu, Chairman of the Committee on Economic Planning and Budget.
Yishawu,  after the plenary, explained that the total budget size passed has addition of leftovers from the previous allocations in the 2021 budget.
He said the leftover was rolled into ‘contingency fund’ in the Y2022 budget.
He also put the Capital and Recurrent Expenditure ratio at 66:34 respectively.
While the recurrent expenditure is N591,280,803,486 billion, the Capital expenditure is N1.166,915,843,358 trillion, which brings the budget total size to N1,758,196,44,844 trillion.
According to him, the loans, bonds and ISPO funds are captured in the budget that was passed.
Speaking after the passage of the budget, Obasa thanked his colleagues for working assiduously to ensure that the appropriation bill was passed.
Online Editor by — December 30, 2021 in News 0
 FG Promises Manufacturers Improved Access To Forex

Importation: Buhari promises improve access to forex by manufacturers – The Sun Nigeria
The Federal Government says it will take appropriate measures to improve access to foreign exchange for importation of raw materials and machines that are not available locally.
 President Muhammadu Buhari  gave the assurance during an advocacy visit of the leadership of Manufacturers Association of Nigeria (MAN) Wednesday in Abuja.
His promise was  sequel  to requests on making the manufacturing sector contribute more to the Nigerian economy.
He said  relevant Ministry would revisit their concerns about the increase in excise duties on the identified products and other tariff-related matters.
He spoke on the African Continental Free Trade Area (AfCFTA), sàying  Nigeria would fast track the process of setting up the Designated Competent Authority that will superintend the administration of Rules of Origin and Commission as well as the automation for issuance of electronic Certificate of Origin.
He added that the Federal Government would also ensure that relevant structured platforms are established for monitoring and evaluation of the performance of the Ease of Doing Business and improved Government patronage of made in Nigeria products.
‘‘Our strategic plan to boost manufacturing activities in the country is on course.
‘‘We will continue to improve the patronage of locally made goods, bridge the gap between skills required by industry and those provided by our tertiary institutions and ensure seamless access to long term finance for our Small and Medium-Scale Enterprises (SMEs).
‘‘We recognize that MAN remains a key stakeholder in this journey and we will continue our engagement with you,’’ he said.
He affirmed  that a private sector led economy is the way to create jobs in the country.
President Buhari urged the leadership of MAN to continue to encourage manufacturers that Government recognizes the resilience of their members and other private sector organisations in promoting a virile manufacturing sector in Nigeria.
‘‘I beseech you to continue to support the Government in our quest to provide the appropriate environment that will attract the necessary investment both domestic and foreign for the upliftment of the nation’s economy,’’ he said.
On the impact of COVID-19 on world economies, the President noted that while the pandemic had an adverse impact on the Nigerian economy with the attendant fluctuations in the price of oil, his administration has effectively contained the spread of the pandemic and other diseases.
He added that the Federal Government would continue to consistently deploy prudent means of judiciously utilising the limited revenue to sustain the economy and stimulate growth.
Online Editor by — December 30, 2021 in SME/Manufacturing 0
 Elumelu Foundation Launches 2022  Entrepreneurship Programme

The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs across all 54 African countries, has opened applications for the 2022 TEF Entrepreneurship Programme
African entrepreneurs with business ideas or existing businesses under five years, are encouraged to apply now for $5000 seed capital, mentorship, business management training and more on the 2022 Tony Elumelu Foundation Entrepreneurship Programme
Since 2015, the TEF Entrepreneurship Programme – the only African-funded entrepreneurship catalyst of its kind – has empowered 15,847 African entrepreneurs with non-returnable seed capital of $5,000 each; twelve weeks of business management training; access to experienced mentors; and membership to Africa’s largest entrepreneurial ecosystem.
In 2021, the Tony Elumelu Foundation disbursed USD$24.75 million to 5000 African entrepreneurs across Africa for its 2021 Entrepreneurship Programme. The Foundation’s Entrepreneurship Programme remains one of the largest private sector responses to driving the economic recovery of African youth, women and SMEs given the effects of the covid19 pandemic across Africa. Across Africa, the Tony Elumelu Foundation Entrepreneurship Programme beneficiaries are starting and growing trailblazing businesses that have collectively created over 400,000 direct and indirect jobs.
According to 2015 Tony Elumelu Entrepreneur, Hauwa Liman, female business owner and Founder of Afrik Abaya: “I am always proud to say that I am from the inaugural cohort of the Tony Elumelu Foundation Entrepreneurship Programme. My business is located in Kaduna, in northern Nigeria. I benefitted from this Programme in 2015, and it opened up lots of doors and opportunities. It is not just about the seed capital, but what really fascinates me about the programme is the knowledge.
“I call it a mini-MBA programme, because from the ideation stage it teaches you how to really articulate your business, and it gave me my first business plan. The network, visibility and opportunities are endless.
“My entrepreneurship experience cannot be complete without the Tony Elumelu Foundation. I will start exporting to other countries soon courtesy of the Foundation. We now employ ten permanent staff and an additional eight staff on a commission basis.”
Commenting on the launch of the 2022 Tony Elumelu Foundation Entrepreneurship Programme, CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu shared, “We are constantly blown away by the quality of businesses that come from Africa every year. This motivates us to scale our efforts to empower even more entrepreneurs on continent. The innovation, knowledge and resilience of African entrepreneurs is central to charting Africa’s socio-economic transformation and meet the continent’s development objectives. We are also proud of the increase in female participation on our Programme, especially with the 2021 cohort where we witnessed a record 68% selection of women entrepreneurs.”
Founding Trustee of the Tony Elumelu Foundation, Dr. Awele Elumelu stated, “Through the Tony Elumelu Foundation Entrepreneurship Programme, we seek to democratise luck. Hard work plays an important and undeniable part in success, but one must not discount the role of luck – someone being willing to take a chance on you or business idea by empowering you through training, mentorship or funding.
“Our hope is that, through the Tony Elumelu Foundation Entrepreneurship Programme, we would help the next business leader or captain of industry be whom they are meant to be. This is our own way to give back and also to empower the generation coming behind us so that they can go even further than we have. As a parent, one’s desire is for your children to do better than you and so you will provide the resources and materials that they need to ensure that they go far in life. Similarly, at the Foundation we are equipping the next generation with the tools they need to succeed.”
As the foremost champion of entrepreneurship in Africa, the Tony Elumelu Foundation is empowering women and men across the African continent through entrepreneurship to catalyse economic growth, drive poverty eradication and ensure job creation.
Online Editor by — December 30, 2021 in News 0
Nigerian Nabbed  For Online Romance Scams In Cambodia

Nigerian Arrested For Online Romance Scams In Cambodia – Independent Newspaper Nigeria
Police from the Department of Technology Crimes in Phnom Penh, capital of Cambodia, have cracked down on a Nigerian suspect who was active in crimes on social media.
The operation took place on December 26, 2021, with the coordination of the prosecutor of the Phnom Penh Municipal Court. With the permission of General Santibandit Neth Savoeun, National Police Commissioner.
Lt. Gen. Chea Pov, director of the Anti-Technology Crime Department, who led the crackdown, confirmed that the operation was carried out in collaboration with law enforcement forces. Phnom Penh Municipal Police cracked down on the suspect named as Chukwueke Felix Chibueze, male, 47 years old, a Nigerian, living in Phnom Penh.
He added that the suspect set up fake Facebook accounts, pretending to be in love and befriend the victims by telling them that he lives abroad, has a package to send, and have a lot of materials like US dollars and some gold and created a series of incidents for the victims to pay continuously.
On December 28, 2021, Chibueze was remanded in custody. At the same time, the authorities would like to remind those who always use social media to be very careful to avoid being cheated.
Online Editor by — December 30, 2021 in News 0
Sahara Invests $742m In  Host Community Growth

Sahara Group has announced  its commitment to host communities enabled its investment of $742 million in community development with a focus on COVID-19 relief support.
The company has also  committed $44 million for the construction of Liquefied Petroleum Gas LPG) facilities within the West African sub-region to ensure steady availability of cleaner energy sources for the global market.
Its Director of Governance and Sustainability, Ms Pearl Uzokwe, disclosed  this as part of the highlights of the group’s 2020 Sustainability Report.
The report themed, “Leveraging Disruption for Growth and Innovation,” underscored how Sahara continues to leverage innovation and technology in achieving its corporate goals and sustainability ambitions across its businesses in Africa, Asia, Europe, and the Middle East.
She said:“Further, a commitment of $44 million for the construction of Liquefied Petroleum Gas (LPG) facilities within West African region was made as well as the purchase of two additional LPG vessels to ensure the availability of cleaner energy sources for our global market.
“Our commitment to host communities enabled our investment of $742 million in community development with a focus on COVID-19 relief support,” Uzokwe said.
The  group also fixed all cables and panels for the rural electrification project in Ajoki, one of its host communities, with a plan to deliver the project by 2022.
 She noted these further demonstrates the company’s progress on the sustainability journey, stressing that the 2020 sustainability report further underscored the group’s commitment to creating shared value for its various stakeholders through economic development, protection of the environment and building a sustainable society.
She stated that Asharami Energy Limited, a Sahara Group upstream company, recorded an improved performance in responsible procurement with 92 per cent of its suppliers assessed for environmental risks in 2020.
Online Editor by — December 28, 2021 in Energy 0
Why We Launched ‘Pajawiri’ Mobile App

Yoruba group Ilana Omo Oodua unveils Pajawiri mobile app – The Sun Nigeria
Leader of the Umbrella body of Yoruba Self-Determination Groups, Ilana Omo Oodua, Professor Banji Akintoye, has unveiled a Mobile Application designed to track Kidnapped Victims and Expose Danger anywhere in Yoruba Land.
The Mobile Application and Alert System, named Pajawiri, can also expose criminal elements wherever they are with their victims once the victims have the application installed in their phones either on or off.
It also has another system called Afinihan  that can be used by those without android phones to link up with those with the full application.
Speaking at the unveiling ceremony held in Ibadan, Oyo-State, Akintoye,  said the emergence of Pajawiri is an evidence that the Yoruba people are too intellectually sophisticated to be subdued.
“We have now proven to the world that we cannot be captured nor be subdued. We are too intellectually sophisticated to be subdued.It is these Innovations and intellectual powers that we will deploy to get ourselves out of the quagmires of Nigeria”.
He spoke on the  benefits of Pajawiri, saying “every person in  possession of the Pajawiri app on their telephone, will be able to activate the APP instantly, whenever they find themselves in danger.  By activating the app, they will be able to alert their families, their friends and their neighbors that they are in danger and that they need help.
“In that way, no Yoruba person needs to be alone anywhere on their farms, schools, market places, shops and anywhere else. Any person who finds himself threatened by danger and who is in possession of Pajawiri will be able to alert other persons for help.
 “In short, Yoruba people today, are able now to enjoy security individually and collectively through the use of the APP known as Pajawiri.
“The Ilana Omo Oodua Worldwide owes our engineers who have “put this together an enormous debt of gratitude. The Yoruba people also owe a lot of gratitude to the umbrella body of Yoruba Self-determination groups, “Ilana Omo Oduduwa” for all the encouragement and support that they have given to these engineers.
“The creators of this APP Pajawiri have magnanimously offered to put this app Pajawiri freely at the disposal of every Yoruba person for the next thirty days. That is, from now till the 21st of January, 2022. This means that all Yoruba people can have the protection of Pajawiri without paying any fees for the next thirty days.
“After that, those who choose to continue to enjoy the protection of Pajawiri will be able to do so with an affordable monthly subscription.  That is for those of us who have Smart phones(android, iOS or IPhone). For those of us who do not have smart phones (android, iOS or iPhone), there has been designed a  hand-held alert device named Afinihan  to work equally as effectively as the Pajawiri on the IPhone.
“Afinihan is  a tiny hand-held device that is able to perform wonders. This tiny device has been efficiently tested and will be available for purchase at a small affordable price.
“The purpose of all these technological provisions, is that the Yoruba nation must carry all its people along in this provision of security.”, Akintoye, remarked.
Speaking on the ideal features and benefits of the APP, the Coordinator of the PAJAWIRI PROJECT, Engr. Ayobami Abolaji, explained that the Pàjáwìrì App is  a warning system for warning and protection through an alarm and alert system that will generate protective action for the community and each individual user.
He said :”The Pàjáwìrì app is designed to provide a technological solution or a system that
allows people to warn others of impending dangers and arouse established Response
Teams in the communities to stop and prevent various vices such as: Kidnapping,
Raping, Armed Robbery, Arson, Theft, Accidents, Murders and Banditry against app users and their community members.
“The Pàjáwìrì App is a technologically savvy information and communication application that Alerts and locates the source and flash points of dangerous security breaches where unchallenged massacre of valuable Human Lives and Properties are perpetrated. The Pàjáwìrì App Proffers a modern day means of Curbing or permanently alleviating the fears that has gripped the inhabitants
of any geographical location and settlements once and for all.
“The Pàjáwìrì App was designed to be activated through a referral process only, in order to be able to know the identities of the app users and detect suspicious and
criminal elements disguising as real users. It will be free to download by any users
and will be operational after the referral activated the New user to have the referral
identification.
“Afinihan is an Android and I-Phone (iOS) compatible application device that sends
alert signals to the connected phone systems. It is a mobile alarm system that allows those without hand held phones to connect to and alert those with the smart phones and computer devices set up at data command and control centers established at various perimeters in the geographical entities that the app is operating from,”, Abolaji, stated.
Online Editor by — December 28, 2021 in News 0
DisCos Justify Disconnection,Reconnection Fees

The Association of Nigerian Electricity Distributors (ANED),says it’s their legitimate right to impose disconnection and reconnection fees on their customers
ANED’s Executive Director for Research and Advocacy, Barr. Sunday Oduntan, conveyed the clarification in a statement.
According to him,accusations surrounding disconnections and reconnection fees charged by Discos were unfair, saying disconnection is a legitimate recourse available to the service providers under certain conditions and the reconnection fee is a penalty to dissuade repeat offenders and cover cost.
He said:”Now, most times, we hear complaints of by customers regarding disconnection. The truth is that there are clear grounds for disconnections. Disconnections are not random and there are clear guidelines stipulated by Nigerian Electricity Regulatory Commission (NERC) under which disconnections can take place.
 Disconnections can occur when a customer owes accumulated bills of over 90 days. Other grounds for disconnection include when a customer is found engaging in energy theft or tampering with distribution equipment,” Oduntan said.
“It is statutory to charge a fee to cover the operations and to deter repeat offenders. This is not a practise that is restricted to Nigeria only. Time and resources are expended in both disconnecting and reconnecting a customer due to an act of the customer. If there is no penalty attached to that, then there is no deterrence”
He also explained why electricity distribution companies (Discos) assume ownership of equipment voluntarily made available by customers for use by their networks,adding that the development was premised on a matter of indemnity and safety critical protection.
He said:”Many people have asked that question and the answer is simple, and we feel it is important to shed light on it for the sake of public awareness. It is a case of indemnity and protection.The DisCos take responsibility for any incident that happens with those infrastructure. It is important for Nigerians to understand that Discos have a responsibility to ensure that only good quality equipments duly certified by Nigerian Electricity Management and Safety Agency (NEMSA) are installed in our network.
“After installation, Discos have to take steps to protect such equipment such that it will be safe for use by customers. We have had occasions when some transformers that were installed in the days of PHCN, for instance in Lugbe, Abuja, caused electrocution. We need to protect the equipments and ensure that access is only granted to qualified personnel. People have lost their lives because they were trying to ‘maintain their transformers.This is why we ask customers to write a letter of donation to the DisCos. If the items do not belong to the DisCos, they cannot exercise any right over the use of the items, neither should they bear liability for any incident that occurs thereafter.
“It is our responsibility as DisCos to make electricity infrastructure available and we do a lot of this. However, in situations where the demand is far more than supply due to shortage of funds, customers do step in to help their communities. Since privatisation, our members have invested considerably on improvements in their networks since 2013.
“However, in a reality where the absence of infrastructure was excruciatingly acute across the length and breadth of this country before this phase of our power reforms, and considering the huge cost of revamping inherited networks as well as the very critical need for power supply for homes and businesses, it is understandable when communities of customers decide to step in rather than take the option of waiting till resources needed to services their needs are appropriated by their respective Discos.
“The issue of community volunteering is very clearly stipulated by the Nigerian Electricity Regulatory Commission (NERC). For those who follow NERC’s laid guidelines, there will be no argument at the end of the day”.
Online Editor by — December 28, 2021 in Power 0
Firm Offers Free 35,000 Litres Of Cooking Gas  To  Enugu Residents

Second Coming Nigeria Limited, a major Liquefied Petroleum Gas (LPG) company, in conjunction with Enugu State Government has donated 35,000 litres of cooking gas worth ₦12 million to residents  of the state
The Managing Director of the company, Dr. Basil Ogbuanu, who made the donation explained that the gesture was part of the company’s support to government’s effort at lessening  the pains of the people who cannot afford the commodity in their kitchen this yuletide.
He stated:” ln the spirit of the yuletide and as part of our Corporate Social Responsibility (CSR), also, in support of His Execellecy’s sterling leadership and good work to the people of Enugu State each of our four plants in the state will give out 12.5 kg of gas to 400 people in four locations of the State. This is in conjunction with the Enugu State Government to support the people of Enugu state during this festive season”.
He  added that the product will be distributed freely to residents so that people will have gas to cook their food as they celebrate the birth of Jesus Christ.
He lauded  the state government for its focus and commitment in ensuring that businesses enjoy a friendly environment to thrive.
He thanked all the loyal customers of Second Coming  gas plants for believing in the company’s tradition of honesty and transparency over the years.
He  described Second Coming Gas plants locations in Amaechi road Awkunanaw Enugu, Nike road Abakpa Nike Enugu, Agbani Town, and mile 3 Ahani Achi in Oji River local government area of Enugu State as people and pocket friendly.
He implored the citizens of the state to take advantage of the multiple award winning brand to make their cooking experience easier.
According to him, the products will be dispensed to residents in Agbani town and Amaechi road plants  on December 27, 2021 while Abakpa Nike and Oji River plants will take their turns on  30th December, 2021.
He further appealed to cooking gas  dealers to support government towards ameliorating the suffering of the people at this period of sharing and giving.
Ogbuanu commended the federal and state governments for the frantic efforts towards eradicating the use of firewood for cooking and called at governments at other levels to key into the drive.
Residents of the state,who benefited from the donation, expressed happiness over the company’s act benevolence to alleviate their plight by providing free cooking gas to them.
A customer, Mr Charles Ezeoha, expressed his excitement over the gesture,saying this  that this was the first time he was witnessing display of  care by a Nigerian company
He added:”I am surprise that company invited people even on radio to come and take free gas. I was here 4 am because of it and I am happy that 12.5kg cylinder was refilled free of charge.I am impressed as everything is moving smoothly because of the way it was organised”
He advised other companies in the country to emulate the gesture,saying the development would go a long way in deepening their bond with the customers.
A 70 -year-old customer, Mrs Ifeyinwa Nnaji said she was overwhelmed by the kindness of the company and prayed for its continuous existence.
Online Editor by — December 28, 2021 in Oil&Gas 0
38,518 Pension Contributors Migrate To New  PFAs

Contributory pensions: Over 91,000 Retirement Savings Accounts registered in Q1 –PenCom -
The National Pension Commission,says
no fewer than 38,518 workers who were displeased with their Pension Fund Administrators moved to other PFAs and transferred N148.11bn in their Retirement Savings Accounts within one year.
The  agency disclosed  this in a report titled ‘Quarterly summary of Retirement Savings Accounts transferred by Pension Fund Administrators’.
According to the report, 12,681 workers transferred N47.78bn in the first quarter of 2021, compared to 2,799 workers who transferred N18.90bn in the same period of 2020.
It said 12,872 workers transferred N45.56bn in Q3 2021, up from 10,166 workers who transferred N35.89bn in Q2 2021.
The pension regulator opened the transfer window in November 2020.
According to PenCom, Section 13 of the Pension Reform Act 2014 empowers an RSA holder to transfer their RSA to any PFA of choice, not more than once a year.
“Effective transfer of RSAs from one PFA to another requires an accurate and reliable database as it is important to ensure that the pension assets transferred belong to the bona-fide RSA holders initiating the transfers,” it said.
PenCom noted that the opening of the RSA transfer window was delayed to ensure that robust IT infrastructure that would drive the process was put in place.
It said the process was finalised in June 2019 with the deployment of an enhanced contributor registration system for the pension industry.
The pension regulator said the ECRS incorporated extensive validations, controls and data requirements that would deliver high data integrity standards for the pension industry.
It said the upgrade of RSA holders’ details to meet the ECRS standards was, therefore, a prerequisite for RSA transfers.
Those who registered with various PFAs from inception of the Contributory Pension Scheme to June 2019 were required to get recaptured, it added.
Online Editor by — December 28, 2021 in PENCOM 0
 Ogun Will Soon Become Oil Producing State – Abiodun

Abiodun: Ogun will assume oil-producing status soon
The Ogun State Governor, Dapo Abiodun, has said that his government  is committed to making Ogun an oil producing state in the country.
Abiodun  said this while delivering a convocation lecture at the 2nd and 3rd convocation programmes of the Mountain Top University, with the topic, “Quest for excellence: The Nexus of faith, knowledge and resilience.”.
The governor said he privileged to work as the chairman of the Olokola Free Trade Zone which sought to site a refinery in the state.
He noted that the project was not just conceived with the aim of refining petroleum products only, but to take advantage of the mining lease that had been awarded around the corridor.
He said, “I worked as chairman of Olokola Free Trade Zone that was meant to have the Dangote Refinery sited in Ogun Waterside, however, discussion broke down between Dangote and the then administration which led to the loss of that project to Lagos State; a $16bn was lost to another state.
“That project was conceived with the aim of not just refining petroleum in Ogun, but also take advantage of the mining lease that had been awarded around that corridor that has even not begun to be exploited.”
Abiodun added that his administration was working towards ensuring that the state take advantage of its oil-rich deposit and becomes an oil producing state.
He expressed optimism that Ogun would become an oil producing state, saying “we are working assiduously on that, so, I accept this challenge, we will further strengthen our resolve to ensure that we bring Ogun State to oil producing status in the very near future.”
He said that the state has very rich oil reserves in Tongeji Island, adding that “Ogun State is situated in the Dahomey Basin, which stands for the Niger Delta that goes all the way to Ghana.”
He added:“Everyone of the states in that corridor are oil producing today, even Ondo and Lagos states”.
Online Editor by — December 28, 2021 in News 0