Nigeria May Not Achieve SDGs By 2030-NESG

Mohammed Shosanya

Nigeria is off-track in achieving the United Nations Sustainable Development Goals(SDGs) by 2030,Dr. Tayo Adeloju, Chief Executive Officer of the Nigerian Economic Summit Group(NESG),has said

He,however,there are few indicators that Nigeria could meet,such as birth registrations.

He spoke in Abuja at a media briefing for the third edition of the Gender and Inclusion Summit, organised by the Policy Innovation Centre (PIC), an initiative of the Nigerian Economic Summit Group (NESG).

He disclosed that there are currently 28million unregistered child births in Nigeria, adding that any child not registered increases poverty, as government would not be to plan for the said child.

He explained that Nigeria’s health system, educational sector, poverty reduction strategies as well as gender equality have been far from achieving the SDGs.

He spoke on the pervasive nature of multidimensional poverty and gender inequality.

He said: “Evidence shows a parallel relationship between multidimensional poverty and gender inequality, with countries performing poorly on the Global Gender Report also exhibiting high severe multidimensional poverty.

“Multidimensional poverty encompasses deprivations in health (undernutrition, child mortality), education (years of schooling, attendance), and living standards (electricity, sanitation, water, housing, cooking fuel, asset ownership).

“The World Bank points out significant gender disparities in labour participation in Nigeria, with about 65.5% of men participating compared to around 52.1% of women.

“These disparities extend to business ownership, political leadership, employment, mobile phone use, and bank account ownership.

“The National Bureau of Statistics indicates that about two-thirds of Nigerians are multi-dimensionally poor, lacking income and basic amenities like healthcare, education, and clean cooking fuels.

“The Global Hunger Index (GHI) 2023 ranks Nigeria 109th out of 125 countries, indicating severe hunger levels, with women, girls and persons with disabilities facing higher food insecurity.

“In 2024, around 26.5 million Nigerians are projected to be food insecure, with about 4.8 million at risk in the conflict-affected northeast.

“Similarly, approximately 9 million children under five are at risk of acute malnutrition, impacting their growth and further perpetuating poverty.

“Conflict, climate change, inflation, and increasing food prices are among the pathways contributing to the rise in high food insecurity and malnutrition rates.”

According to him,sixty per cent of farming population in Nigeria are women, adding that Nigeria cannot ignore this huge population and attain food security.

He affirmed that the issue of addressing poverty must go beyond ‘as usual approach,’adding that all hands must be deck to defeat poverty in the country.

On the forthcoming gender and inclusion summit slated for September 4–5th, Adeloju explained that the Policy Innovation Centre had convened the Summit “with the aspiration to arrive at clear-cut gender-inclusive strategies and imperatives for poverty reduction.”

Speaking,the Executive Director of Policy Innovation Centre,Dr. Osasuyi Dirisu,
explained that the Gender and Inclusion Summit was conceptualised in 2022, as annual event to provide an inclusive platform to explore transformative ways to advance gender responsive governance and inclusion in Africa.

Commenting further on the extent of poverty in Nigeria, Dirisu said: “We face unprecedented times; a weak and non-inclusive economy, volatile macro-economic environment, security challenges and weak economic competitiveness.

“Conflict, climate risks, widening income gaps, food insecurity and inflation have exacerbated rising levels of poverty and inequalities in Nigeria.

“Addressing poverty in Nigeria cannot be business as usual. Ending poverty (Goal 1) and reducing inequality (Goal 10) are part of the Sustainable Development Goals (SDGs) and a wide range of approaches have been identified to reduce poverty and inequities.

“To design effective poverty reduction programmes, it is important to understand pathways to poverty, evidence based approaches that work and linkages to multi-sectoral inequities.”

NIGCOMSAT,MOMAS- EPAIL Sign Pact On Robust Communication Infrastructure

Mohammed Shosanya

The Nigerian Communications Satellite Limited,(NIGCOMSAT) and MOMAS Equipment and Protective Applications International Limited (EPAIL), has announced partnership on effective communication infrastructure in order to boost national security.

Signing the Memorandum of Understanding (MoU),at Mowe in Ogun State,the Managing Director, NIGCOMSAT, Mrs Nkechi Egerton-Idehen commended MOMAS-EPAIL’s remarkable investment in Nigeria towards developing local content in power, defense and other sectors.

Egerton-Idehen commended MOMAS-EPAIL for being at the forefront of innovation toward improving national security.
Urging other indigenous companies to partner with NIGCOMSAT to move the country forward through effective server communication network.

She said: “Today is very historic because, it’s the signing of a partnership between NIGCOMSAT and MOMAS-EPAIL which is strategic.

” Most people that do not know that MOMAS-EPAIL is involved in manufacturing of defense materials for security.And NIGCOMSAT is the premier satellite communication company for Nigeria.So, there is value in collaborating in helping our defense sector.”

Egerton-Idehen said that MOMAS-EPAIL had shown that partnering with local companies could be possible.

Speaking,Mr Kola Balogun,the Chairman, MOMAS-EPAIL said that the partnership with NIGCOMSAT would build effective database and improve on data collection for national security.

Balogun said that the firm had developed a very strong knowledge -based information that would protect the security network.

He said that the company had grown remarkably in providing Armoured vehicles and some classical operational materials.

Balogun said that building synergy with NIGCOMSAT would enhanced group communication infrastructure and also enhance front line operations.

Balogun said the MoU would serve as a tools of exchanging informations in security, intelligence and communication with lots of classified information.

“All the vital information has to be embedded in the agreement such that information that are important to the security of Nigeria can be saved and domesticated.This will further enhance our services and effectiveness towards service delivery to defense sector,” he said.

EPAIL is a member of the MOMAS group of companies which was established with the goal of advancing local technology research and development in order to provide effective security solutions for safeguarding lives and properties.

The company has obtained the first manufacturing facility in Nigeria dedicated to producing bulletproof vests, ballistic helmets, and other defense-related equipment.

EPAIL’s collaboration with DICON further strengthens its commitment to fulfilling significant security requirements in the defense industry.

As an indigenous company, EPAIL hosts a dedicated research and development team focused on continuous innovation of security solutions.

Access Holdings Opens N.351bn Rights Issue Monday

Mohammed Shosanya

Access Holdings Plc, one of Africa’s financial services groups,has received approval from the Securities and Exchange Commission (SEC) for the commencement of its N351 billion Rights Issue (‘the Offer’).

This marks a significant milestone in the Group’s previously announced Capital Raising Programme, which aims to generate up to US$1.5 billion (One billion, five hundred million United States Dollars),a statement said on Sunday.

The Rights Issue is strategically structured to bolster Access Holdings’ financial position and support ongoing working capital needs. It will also provide funding for organic growth across its banking and non-banking subsidiaries.

According to the statement,the approved Rights Issue offers 17,772,612,811 ordinary shares of N0.50 each at a price of N19.75 per share.

The offer will be issued on the basis of one (1) new ordinary share for every two (2) existing ordinary shares held as of Friday, 7 June 2024,it said.

The lead issuing house for Access Holdings’ Right Issue is Chapel Hill Denham Advisory Limited, while Atlas Registrars Limited will serve as the Registrars to the Offer.

The Offer will open on Monday, July 8, 2024, and close on Wednesday, August 14, 2024.

The Rights Circular will be distributed to shareholders by the Registrars to the Offer, Atlas Registrars Limited, while the application forms will also be available on the following websites:

www.theaccesscorporation.com

www.chapelhilldenham.com

www.coronationmb.com

www.atlasregistrars.com

Shareholders are advised to contact their stockbrokers for more details about the Offer.

Access Holdings remains committed to its strategic vision of expanding its footprint and delivering exceptional value to all its stakeholders.

The successful execution of this Rights Issue will further solidify the Group’s position as a leading financial services provider in Africa and beyond.

SEC Boss Raises Alarm Over Fake  Social Media Account

Babatunde Solanke

The Securities and Exchange Commission has alerted remembers of the public on some fake social media accounts purporting to be those of the Director General, Dr. Emomotimi Agama.

The SEC said,it has become aware of several fraud attempts targeting the investing public and its online community.

“These scammers are impersonating the Director General of the Commission – Dr. Emomotimi Agama with the aim of luring unsuspecting members of the public into sharing personal information and making unauthorized payments”,it said.

The SEC therefore informs members of the public that neither the Director General nor any staff of the Commission Would request for personal information about their investments through private phone lines, emails or social media handles.

“Official information from the Commission is communicated ONLY through its verified email addresses, website, social media handles, and phone numbers.

“Always verify the identity of the person or entity contacting you. If unsure, do not hesitate to immediately contact us directly through [sec@sec.gov.ng] or call [+234 02094621168]” the Commission stated.

The Commission restated its committed to the protection of investors in the Nigerian Capital Market adding that it is working diligently to curb scams and other fraudulent activities.