By Elvis Eromosele Access to clean water, sanitation, and hygiene is essential for human health and well-being. The Sustainable Development Goal (SDG) 6 is about “clean water and sanitation for all”. However, in many developing countries, these necessities remain out of reach for a significant portion of the population, particularly those living in suburban and rural areas. The popular thinking is that local governments can play a critical role in scaling up interventions to improve access to water, sanitation, and hygiene. Take Nigeria. It is easily the most populous country in Africa with a rapidly growing population that is…
Author: Elvis Eromosele
The accumulated debt from Unstructured Supplementary Service Data, USSD, which Deposit Money Banks owe telecommunication firms has risen to over N100bn. As a result, banks and telcos are expected to hold another round of meetings with a view to resolving the deadlock. The debt was put at N80bn a few months ago. The Head of Operations of the Association of Licensed Telecoms Operators of Nigeria, Gbolahan Awonuga, in a conversation with the media, confirmed that USSD debts had grown from N80bn as of November 2022 to over N100bn In April. According to him, much progress regarding repayment has not been…
The Nigerian Ports Authority (NPA) has said that Tin-Can Island and the Lagos Port Complex, Apapa, need urgent rehabilitation that may cost around $800 million as the country’s major ports are on the verge of collapse. The NPA Managing Director, Mohammed Bello-Koko, who spoke in an interview on television said that the Port of Tin-Can is collapsing, and if nothing is done in the coming years, there will be many problems related to doing business there. He said also, Escravos, Calabar, and Onne Ports are in need of significant rehabilitation alongside Tin Can to the tune of $800 million. He…
The Pension Funds Administrators reduced the funds under the Contributory Pension Scheme that was invested in fixed deposits and bank acceptance to N1.6tn in February. This was as the total funds under the scheme hit N15.49tn in the period under review, according to the National Pension Commission. PenCom disclosed this in its unaudited report on the pension funds industry portfolio for the period ended February 28, 2023. The data provided information on the approved existing schemes, Closed Pension Fund Administrators, and Retirement Savings Funds (including unremitted contributions at the Central Bank of Nigeria and legacy funds). At the end of…
The Board of Directors of the African Development Fund (ADF) has approved $8 million in funding toward the establishment of a digitally interoperable unique bank identification system and harmonised customer identification framework for The Gambia, Guinea, Liberia and Sierra Leone. Implementation of the project will commence in July 2023, led by the West African Monetary Institute (WAMI), working with central banks of the participating countries and in close collaboration with banking and non-banking financial service providers. The project is expected to enhance financial sector efficiency within the participating countries, leading to increased access to finance and further regional integration efforts.…
By Elvis Eromosele Nigeria, the most populous country in Africa, boasts a youthful population. According to the National Population Commission, about 64 per cent of Nigeria’s population is under 25. This presents an opportunity for the country to harness the energy and creativity of its youth towards building a digital and innovative future. The world is experiencing a rapid digitalisation shift, and Nigeria cannot afford to be left behind. To move the country forward, there is a need to focus on new technologies, social media, digital marketing, agriculture, fintech, and other emerging industries. We must proactively explore ways for Nigeria…
FMDQ Securities Exchange (FMDQ Exchange) has announced the listing of the Dangote Industries Funding Plc’s N187.58 billion Series 1 (Tranche A & B) and N112.42 billion Series 2 Senior Unsecured Bonds under the firm’s N300 billion Debt Issuance Programme on its platform. The Series 1 and 2 bonds were listed on FMDQ Exchange in November 2022 and March 2023, respectively. To mark the achievement, FMDQ Exchange, in keeping with its tradition, held a listing ceremony at its offices recently. Managing Director, FMDQ Exchange, Tumi Sekoni, represented by the Senior Vice President, Business Development Division, FMDQ Exchange, Jumoke Olaniyan. congratulated the…
The federal government says it has secured the sum of $800 million from the World Bank, as part of its post-subsidy palliative plans. Zainab Ahmed, minister of finance, budget and national planning, disclosed this to state house journalists, after the federal executive council (FEC) meeting presided over by President Muhammadu Buhari, on Wednesday. Last year, following an N3.35 trillion petrol subsidy budget, the federal government said it would stop under-recovery payments in June 2023. In 2022, subsidy or under-recovery cost the government the sum of N3.3 trillion in 11 months alone. Ahmed, expressing the authority’s resolve on the matter, said…
By Elvis Eromosele The world is in a struggle with plastic. It can’t seem to do without it and definitely can’t live with it. It litters the landscape, cloaks the drains and gutters and fills the canals, rivers and oceans. The UN says ‘the world is choking on plastic’ and National Geographic says ‘the world is drowning in plastic’. Plastic is in almost everything. It is nearly everywhere. It is the true definition of ubiquitous. Experts concede that plastic waste is one of the major challenges to the environment and human existence. Indeed, plastics hold the world in a vice-like…
AXA Mansard has empowered over 100 young female entrepreneurs with digital marketing skills in Lagos. AXA Mansard is a member of AXA and one of the global leaders in insurance and asset management, during a two-day digital marketing training in Lagos. It said this was part of the company’s programmes to commemorate the recently held International Women’s Day. The company added that it is empowering women who own small and medium-scale enterprises (SMEs’) with skills to improve their digital output and position them for the immense opportunities in the digital space. The Chief Customer and Marketing Officer, AXA Mansard, Jumoke…