Business
23 States, FCT Receive N24.45bn From Conditional Grant Schemes
Nigeria’s Federal Capital Territory ( FCT) and 23 states of the Federation have received N24,450,000,000.00 from the Conditional Grant Schemes as incentives to invest more of their resources into areas of national development priorities and the Millennium Development Goals(MDGs)/Sustainable Development Goals (SDGs).
This was disclosed Thursday at the State House, Abuja, by the Senior Special Assistant to the President on SDGs, Mrs Adejoke Orelope-Adefulire, at a news briefing organised by the Presidential Communications Team.
She stated that the fund, disbursed since 2015 till date, was introduced in 2007 with a 50 percent marching grant from the federal government and 50 percent from the participating states.
According to her, the grants were targeted at education, health, water and sanitation projects “and aimed at executing pro-poor projects in a consultative manner with the beneficiaries.”
The SSA also said the fund was spent on the implementation of 732 water and sanitation facilities; 494 health facilities (new facilities and renovation/rehabilitation); 616 education facilities (new construction, renovation/rehabilitation of block of classrooms; 1,150 women and men were empowered/trained in vocational skills, such as sewing, knitting, detergent & pomade making etc.)
She said there were special intervention projects across the geo-political zones, an initiative, she affirmed, was aimed at strategic investment to fast-track the achievement of the SDGs in Nigeria.
“Between 2016 and 2021, a record number of projects have been implemented, aimed at providing essential services to accelerate the achievement of the SDGs, by ensuring no Nigerian is left behind.
“In the education sector, 8,008 classrooms constructed and 305 renovated with furnishing to strengthen basic education across the country.
“A total of 4,845 Desktop and Laptop Computers have also been supplied to schools across the country for Information and Communication Technology (ICT) training.
“In the health sector, 195 Health Centres, comprising Primary Healthcare Centres (PHC) and Mother and Child Centres (MCC) were constructed, complemented with the supply of 199 Intensive Care and Rural ambulances. About 257 incubators and 7,464 regular and automated hospital beds were supplied across tour health facilities.
“In other cross-cutting sectors, OSSAP-SDGs constructed 66 Vocational and Skills Acquisition Centres; supplied 1,294 transformers; provision of 19,266 solar-powered streetlights; 300 Housing units for internally displaced persons (IDP) in Borno State; and 925 Solar Boreholes, in addition to several other interventions.”
Orelope-Adefulire also spoke on some findings from 2020 voluntarily national review, indicating that from Nigeria’s 2nd Voluntary National Review (VNR) 2020 on SDG-3, while the country faces challenges on health outcomes, such as high rates of maternal mortality, there have been significant reduction in the under-five mortality rates (from 157 to 132).
She added that Nigeria’s current access to basic drinking water now stands at 64% as according to her, the review emphasised the need for more investment in public health and to ensure the most vulnerable are reached through universal access to basic healthcare services.
“On SDG-4, a key challenge confronting the country has to do with Out-of- School-Children, a demographic challenge that relates to an interplay between employment (SDG-8), education (SDG-4), poverty (SDG-1) and the digital economy (SDG-17). With a population of approximately 200 million people, regional disparities are significant.
“On SDG-8, Nigeria’s informal economy is one of the largest on the continent – estimated at 53% of the Labour force and accounting for 65% of GDP. It is estimated that 75% of all new jobs are informal. Ensuring youth are well-trained and able to transition to productive employment through the digital economy can help reduce poverty and help diversify growth away from oil and gas.
“In addition, the Nigerian government can dramatically shift to digitization and strengthening its transition to e-government to facilitate its social protection to the poor and vulnerable population.”
On ending poverty in all its forms everywhere, reducing poverty and sharing prosperity under SDGs Goal 1, she said the federal government has maintained steady investment in expenditure in health, education, and other social services between 2015 and 2018 “because investments in these areas are essential and integral to addressing poverty.
“With about 10.8 million out of school children and more people drifting into poverty, Nigeria’s expenditure on education just about 8.6 percent in 2015 and witnessed a steady decline to 8.2, 8.5 and 8.2 percent in 2016, 2017 and 2018.
“This was largely due the 2016 economic recession and the decline in global oil prices and COVID-19 pandemic,” she added.
On Goal 2 of Zero Hunger, the SSA said: “Findings from the baseline showed that the prevalence of undernourishment in 2016 for stunting, moderate stunting and severe stunting were 32.9 percent, 20.4 percent and 12.5 percent respectively, while in 2019 the report indicated 32 percent stunting, and 21.2 and 10.8 percent for moderate and severe stunting respectively. Thus, we had modest decrease in severe stunting.”
On Goal 3, which is Ensure Healthy Lives and Promote Well-Being for all at all Ages, she said the summary of the baseline indicated that the rate of under-five mortality rate (meaning that for any child born in a specified year to survive before reaching the age of 5) per 1,000 live births in 2016 was 128/1,000 live births but had reduced significantly to 100 in both 2018 and 2019.
“However, the population of Nigerians covered by the National Health Insurance Scheme (NHIS) for better quality of life via the removal of financial barriers increased from 634,154 for males and 266, 618 for females in 2016 to about 781,057 for males and 332,742 for females – an increase of about 26 percent national coverage,” she stated.
For Goal 4, she affirmed that participation rate of youth and adults in formal and non-formal education and training in the previous 12 months increased from 4.97 percent in 2016 to 5.38 in both 2017 and 2018 while for Goal 8, Nigeria faced economic challenges, which was a fall out of global oil price crash and insufficient foreign exchange earnings to achieve Balance of trade.
Nothwithstanding, she said, this was increased from -1.6 percent 2016 to 0.82 percent in 2017 with and annual per capita at -17.31 percent and was subsequently increased to 1.91 percent in 2018 and 2.27 percent in 2019 with its per capita GDP growth of 1.22 percent in 2019.
On reducing inequality within and among countries under Goal 10, she pointed out that in 2016, the Labour share of GDP was 25.17 percent, and witnessed a steady increase to 26.06 percent and 26.61 percent in 2017 & 2019.
“With the successful realignment of the National Statistical System (NSS) with the indicators of the SDGs in December 2021, going forward, we will be able to track and report on the SDGs on annual basis – every December through the National Bureau of Statistics. Nigeria is now the first country in Africa to have successfully re-aligned its National Statistical System,” she declared.
According to her, “The Nigerian government has demonstrated strong commitment towards the 2030 Agenda for sustainable development and the SDGs. Institutional Frameworks have been established at the national and sub-national levels to support effective implementation of the SDGs. Thus, Nigeria is leading in the institutionalization of the SDGs.
“The SDGs cannot be achieved with stand-alone programmes and projects. They must be carefully integrated into national and sub-national policies and development plans. Currently, we have integrated the SDGs into the Nigeria’s National Development Plan (2021-2025) and we presently supporting 16 States to develop SDG-Based Development Plans.
“It is our hope that all 36 states and the FCT will eventually develop SDG-Compliant-Development Plans. This is our approach to Mainstreaming, Acceleration and Policy Support (MAPS)”.
Business
Businesses count losses amid power outage in Bauchi, Gombe, and Jigawa
Business owners in Bauchi, Gombe and Jigawa are recording losses due to week-long blackout ocassioned by vandalism of the power transmission line in parts of northern Nigeria.
The sudden disruption in electricity supply in the past days, also affected essential services such as water, sanitation, street lighting and healthcare delivery as most hospitals have been operating without light.
Some of the affected businesses including shop keepers, millers and artisans, who spoke while reacting to a survey by the News Agency of Nigeria (NAN), described the situation as “pathetic”.
The survey examined the perennial collapse of national grid and the need for alternative power supply in the country.
Rice millers in Gombe had decried the impact of the erratic power supply on their businesses.
A Miller, Musa Arab, at Nassarawo Industrial Layout in Gombe, said the trend was crippling their operations as they relied on electricity supply from the grid to process paddy.
He said the mills were not operational power outage as they could not afford exorbitant pump prices of petrol or diesel to run their machines.
This, he said, reduced the volume of rice supply to the market and posed serious challenge to food security.
“We must invest in power because it is the biggest determining factor for industries to thrive.
“I have over 20 workers in my mill, and we have 100 mini rice mills here, so you can imagine those who have no jobs for the past 10 days.
“Government must go tough on those responsible for the perennial grid collapse because some persons may be benefitting from it,” he said.
Also, Yusuf Ibrahim said the situation might trigger the already fragile inflation, as prices of local varieties would shot up ocassioned by the diminish supply.
He said that some had jerked up their charges to cover the expenses on diesel thereby affecting rice prices.
A check by NAN at the Gombe Main market showed that a 100 kilogramme of rice was sold for between N120,000 and N160,000, as against N110,000 and N150,000, before the blackout.
Mr Usman Sani, a rice dealer, attributed the hike in price to low supply of the produce to the market in spite of the number harvest recorded this cropping season.
He said the prices had decreased slightly at the onset of the harvest, however, it showed sprawling increase due to power outage.
“The price of rice is already dropping as a result of harvest but the trend reverse since the blackout in the past days “ he said.
Ugochukwu Daniel, a bartender in Bauchi, decried the epileptic power supply in the country, adding that lack of durable energy supply would retard Nigeria’s quest to attain social and economic greatness.
Daniel said that she spent much on fuel to run power generator for refrigrator and lightening the beer parlour, to enable her to keep the business running.
He said that businesses could only thrive in an enabling environment with stable electricity supply, to enhance wealth creation and reduce poverty among Nigerians.
“My trade is about chill drinks and it survives on electricity to operate otherwise you will out of bussiness.
“Without electricity there is nothing you can do, and not only business but about everything. We depend on it,” he said.
Similarly, Samuel Adamu, said the persistent power outage had forced him to patronised charcoal for ironing clothes in spite of its high cost and cumbersome processes.
He said that most cleaners in the area had resorted to fabricated iron charcoal in spite of hike in its prices which suddenly jumped from N5,000 to N15,000.
Adamu said the situation also encouraged division of labour in laundry to cut cost and make some gains.
“Presently, I do wash the cloth, and engage someone for ironing. The charge is N300 per set as against N150”.
While advocated development of renewable energies to enhance power supply in the country, Adamu urged security agencies to entensify efforts towards electrical installations in the country.
In the same vein; Mr Muhammad Adamu, Chairman, Jigawa State House Assembly Commitee on Power and Energy, said the Jigawa Electricity Law 2024, made sound provisions to improve power generation and distribution in the state.
This, he said, was an offshoot of the devaluation brought about by the 5th alteration of the constitution, where removed power from the executive legislative list and to the concurrent list.
“It empowered the state houses of assembly to enact laws on power.
“The committee has also carefully pursued the bill and reviewed its structure and the promise it holds for the state power sector, infrastructure and the overall economy of the state.
“The new law will pave way for the establishment of Jigawa Electricity Commission, to regulate the state’s electricity market,” he said.
According to Adamu, the law will protect residents and investors in the energy sector through ensuring prepaid meter installation and possibility of recouping investor’s funds as well as address vandalism.
“The law will lead to provision of reliable, affordable and sustainable power, essential for development of all sectors of the economy, particularly in rural areas,” Adamu said.
“Vandalism will be over because we pay Kano Electricity Distribution Company (KEDCO) money for powered supplies, but whenever there is problem of damages or broken down transformers, it is either the communities or individuals that pay for the repairs”.
Business
Mercedes urges delay of EU tariffs on Chinese electric vehicles
The head of German luxury carmaker Mercedes-Benz, has called for the European Union to de-escalate the dispute with China over tariffs on electric cars.
“We need more free trade instead of new trade barriers.
“That is why it is important to find a solution that suits both the EU and China,” chief executive Ola Källenius told the Monday edition of Bild newspaper.
“The negotiations for this take time. In order not to jeopardise them, the EU should postpone the enforcement of the planned tariffs,’’ he said.
At the start of the month, a majority of EU countries paved the way for additional tariffs of up to 35.3 per cent on battery-powered electric vehicles imported from China.
Germany, however, voted against the measure amid concerns over retaliatory actions which could hurt the country’s giant car industry.
The European Commission had pressed for extra tariffs after an investigation accused Beijing of subsidising domestic electric car manufacturers, and thus distorting the market in the EU.
But whether the import tariffs would actually come into force at the beginning of November is still up to the commission.
The plans can still be dismissed if Brussels reaches a solution with China at the negotiating table.
Business
ACCI moves to promote business connections, balance work-life
The Abuja Chamber of Commerce and Industry (ACCI), is taking innovative steps to enhance professional relationships and promote a healthy work-life balance.
The President of ACCI, Dr Emeka Obegolu, said this in a statement on Tuesday in Abuja.
Obegolu said ACCI was committed to creating environments where professionals could connect beyond the confines of traditional boardrooms.
He said the upcoming “Business Meets Golf’’ Tournament epitomises this vision.
“Scheduled for Oct. 18 to Oct 19 at the IBB Golf Club, the tournament will gather industry leaders, top executives, and key decision-makers for a unique networking experience.
“This two-day event aims not only to strengthen business ties but also to foster partnerships that can drive economic growth.
“The ACCI’s initiative reistates the importance of maintaining a balance between professional achievement and personal well-being.
“By encouraging corporate cultures that prioritise relaxation and self-care, the Chamber acknowledges that such balance is vital for productivity and overall success,” he said.
According to Obegolu, the event will feature a range of activities designed to facilitate both business engagement and relaxation.
“Highlights include a Business-to-Business (B2B) cocktail on the first day, followed by the golf tournament and additional networking opportunities on the second day.
“The tournament will culminate in an awards ceremony recognising outstanding golfers among the participants.
“‘Business Meets Golf’ exemplifies our dedication to fostering innovative networking opportunities.
“We aim to create spaces for meaningful discussions that can lead to impactful collaborations,” Obegolu said.
The ACCI boss said in addition to promoting business connectivity, the council aimed to restate the importance of relaxation and a balanced lifestyle.
Obegolu said through events like this, the Chamber continued to play a pivotal role in supporting trade and industry in Nigeria while driving sustainable growth within the private sector.
He said to raise awareness about this landmark event, ACCI was partnering with the News Agency of Nigeria (NAN) and Media Trust Limited, to ensure broad visibility and engagement from leading brands.
The Abuja Chamber of Commerce and Industry (ACCI), is taking innovative steps to enhance professional relationships and promote a healthy work-life balance.
The President of ACCI, Dr Emeka Obegolu, said this in a statement on Tuesday in Abuja.
Obegolu said ACCI was committed to creating environments where professionals could connect beyond the confines of traditional boardrooms.
He said the upcoming “Business Meets Golf’’ Tournament epitomises this vision.
“Scheduled for Oct. 18 to Oct 19 at the IBB Golf Club, the tournament will gather industry leaders, top executives, and key decision-makers for a unique networking experience.
“This two-day event aims not only to strengthen business ties but also to foster partnerships that can drive economic growth.
“The ACCI’s initiative reistates the importance of maintaining a balance between professional achievement and personal well-being.
“By encouraging corporate cultures that prioritise relaxation and self-care, the Chamber acknowledges that such balance is vital for productivity and overall success,” he said.
According to Obegolu, the event will feature a range of activities designed to facilitate both business engagement and relaxation.
“Highlights include a Business-to-Business (B2B) cocktail on the first day, followed by the golf tournament and additional networking opportunities on the second day.
“The tournament will culminate in an awards ceremony recognising outstanding golfers among the participants.
“‘Business Meets Golf’ exemplifies our dedication to fostering innovative networking opportunities.
“We aim to create spaces for meaningful discussions that can lead to impactful collaborations,” Obegolu said.
The ACCI boss said in addition to promoting business connectivity, the council aimed to restate the importance of relaxation and a balanced lifestyle.
Obegolu said through events like this, the Chamber continued to play a pivotal role in supporting trade and industry in Nigeria while driving sustainable growth within the private sector.
He said to raise awareness about this landmark event, ACCI was partnering with the News Agency of Nigeria (NAN) and Media Trust Limited, to ensure broad visibility and engagement from leading brands.
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