The African Development Bank (AfDB), has signed an agreement with First City Monument Bank (FCMB) for a 50-million-dollar line of credit. This is contained in a statement issued by Chukwuemeka Ezekiel, AfDB Group, Nigeria Country Department on Friday. The line of credit is to support access to finance for small and medium-sized and women-empowered enterprises. The bank’s Director-General for Nigeria, Lamin Barrow, said the AfDB’s support to FCMB would advance the objectives of the Affirmative Finance Action for Women in Africa (AFAWA) initiative. The initiative seeks to improve gender inclusivity by enhancing access to finance for women entrepreneurs. “With at…
Author: Elvis Eromosele
The Historical play titled The Òkehò Exodus, written by Olutayo Irantiola, is set for release in November 2022. The play is a unique documentation of the story of Òkehò, the headquarters of Kajola Local Government area of Oyo State, South West, Nigeria. This is a dramatic documentation of a specific episode in the story of Òkehò, the regicide of Ońjò Olúkìtìbí, in 1916, an incident that changed the Òkehò story drastically. After the unfortunate incident, the British colonial administration stepped in to restore law and order in its way. Its ultimate order was for Okeho to relocate from its nature-endowed…
By Elvis Eromosele Nigeria has a huge population. Current estimates put it in the region of 210 million. This is a huge number. There is no prize for guessing that this number of people will produce humongous amounts of waste. The challenge is how prepared are the managers of the economy to deal with the sheer volume of waste generated and ensure effective disposal. Now, if you have ever wondered why drains are always blocked, dumpsites are created indiscriminately and pollution is the order of the day in many cities across the country, wonder no more. The answer is simply…
By Dr Harrison Eromosele The annual ritual flooding which every so often besieged and submerged communities, suburbs, towns and certain metropolises across several states and countrywide has degenerated from being a recurring decimal problem to a recurring death crisis. The havoc wrecked by this year’s deadly flooding is overwhelmingly unprecedented. Indeed, it has earned for itself, a catastrophic history. This is The Great Flood of 2022. There are frightening grapevine hypotheses, suggesting that the devastating scale of this year’s (2022) flood condition in relation to 2012 would possibly imply a repeat, once every decade. Evidence and attendant economic and ecological…
President Muhammadu Buhari has approved the release of 12, 000 metric tonnes of grains as relief materials for victims of flood disasters across the country. Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq, made this known at the weekly ministerial briefing organised by the Presidential Communications Team in Abuja on Thursday. According to the minister, the Federal Government has so far given intervention to 28 States of the federation. She said: “The Ministry through the National Emergency Management Agency (NEMA) has deployed its emergency response assets including mobile water purification equipment, search and rescue boats…
The number of National Identity Numbers (NINs) issued to Nigerians by the National Identity Management Commission (NIMC) has hit 90.6 million as of October 2022. Investigation revealed that the NIMC issued 56 per cent, which is 50.9 million of the NINs to male enrollees, while 39.7 million, about 44 per cent went to female folks. Bayelsa State with 547,985 issued NINs remained the state with the least identity numbers. Other states in that category include Ebonyi has 728, 451; Ekiti 962,629; Cross River 1, 029, 465; Taraba 1,309,346; Yobe 1,358, 300; Enugu 1, 485, 844; Imo 1, 526, 967; Zamfara…
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has revealed that eNaira has recorded 700,000 transactions valued at N8 billion, since its inauguration on October 25, 2021. Emefiele made this known on Wednesday in Abuja, at the 28th edition of the apex bank’s annual In-house Executive Seminar with the theme, “Digitalisation of Money and Monetary Policy in Nigeria”. He was represented by Aisha Ahmad, Deputy Governor, Financial System Stability, CBN. The News Agency of Nigeria (NAN) reports that the eNaira, CBN’s version of the Central Bank Digital Currency (CBDC), was inaugurated by President Muhammadu Buhari on…
By Travis Bradberry Everyone fails in life, and failure can be a crushing experience. The only thing that separates successful people from the rest is how they respond after they fail. When facing obstacles, you have to decide if you’re going to let them be the excuse for your failure or if you’re going to make them the story behind your success. “There is no failure. Only feedback.” — Robert Allen When you adopt the right attitude, failure is a great teacher. Failure interrupts your routine and gives you an opportunity to explore new solutions, but only if you have…
African countries will require an average of $40bn power grid investments annually for about five years to deliver stable electricity to citizens on the continent, Kola Adesina, Group Managing Director, Sahara Power Group, has said. Delivering a keynote address on “The Future of Power in Africa” over the weekend at the Lagos Business School, Adesina said projections indicate an increase in energy demand across Africa in the coming years. He noted that in 2040, this demand could be around 30 per cent higher than what was obtainable currently, adding that it was vital for all stakeholders to work towards shoring…
Nigeria is currently owing contractors about N11.16 trillion for the construction of various roads across the country and certificates of completion. The Minister of Works and Housing, Babatunde Fashola disclosed this while defending his ministry’s proposed budget in the 2023 Appropriation Bill, saying his ministry had currently awarded 1,642 highway contracts for 1,632 projects totalling N10.395 trillion. The proposed budget of his ministry in the 2023 Appropriation Bill, said his ministry had currently awarded 1,642 highway contracts for 1,632 projects at a total sum of N10.395 trillion. Asked to “take a bow and go” by the MPs following his presentation…