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UNDP trains 200 youths, women in vocational skills, SMEs in Ekiti

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The UN Development Programme (UNDP) in its bid to complement government’s efforts of addressing insecurity and unemployment has trained 200 women and youth, victims of violence in different skills acquisition and empowerment in Ekiti.

The UNDP Governance, Peace and Security Team Lead, Mr Matthew Alao, said this at the closing of a two-week orientation programme for the beneficiaries, at National Youth Service Corps, (NYSC) Permanent Orientation Camp, Ise/Orun, Ekiti.

Alao said that the programme facilitated by the UNDP and its partner, the Norwegian government, would help in the prevention of crisis and resolution of conflicts.

The Team Lead said that the platform was aimed at transforming the lives of beneficiaries selected from all the 16 local government areas of Ekiti.

He said that after the orientation programme the participants would still go through a six-month skill acquisition programme in trades and skills of their choice.

According to him, this will help beneficiaries gain lifelong skills and enjoy support for the establishment of small-scale businesses with starter pack grants.

Alao said equipping women and youth with lifelong skills and empowering them would “make them economically viable to contribute meaningfully to the development of their communities, states and country.”

“I am enthused to say that this programme will positively impact on these women and youth and will make them become self-reliant at the completion of the six months acquisition programme,” he said.

According to him, the candidates will begin their six months skill acquisition programme in the first week of June at the Ekiti Board for Technical and Vocational Education, (ESBTVE) Centre in Ekiti.

Speaking, the Ekiti Commissioner for Budget and Economic Planning, Mr Femi Ajayi, appreciated the UNDP livelihood scheme, especially because of its impact on crisis prevention and conflict resolution.

Ajayi said that for any meaningful development to occur in any society, efforts must be intensified towards prevention of crisis and resolution of conflicts.

“Business thrives only in societies where peace avails. Nigeria in recent times is faced with a lot of crisis resulting in insecurity thereby being a clog in the wheel of the country’s development.

“You will also agree with me that the effects of these crises have greatly demanded accelerated needs for improved social protection to close the gaps created by the menace.

“And, also to build a sustainable conflict sensitivity mechanism for the prevention of conflict occurrence at all levels of government,” Ajayi said.

According to him, the enrollment of 200 women and youth victims of violent conflicts in different skill acquisition programmes of their choice in Ekiti is part of UNDP’s efforts to ensure that Ekiti is at peace, thereby engendering development.

“Ekiti Government, under the current administration led by Gov. Kayode Fayemi, is well disposed towards development partners among whom is the UNDP.

“Since this government came on board, there have been tremendous and fruitful partnerships with the development partners in the state.

“This government is also committed to creating an enabling environment for intervention of donor agencies towards improving the well-being of the people of  the state.

“Fayemi subscribed to the UNDP programme to promote peaceful coexistence in the state in a bid to making Ekiti indigenes live a life of dignity,” the commissioner added.

The Ekiti Coordinator, NYSC, Mrs Mary Chikezie, urged the participants to see the programme as life time opportunity which should not be handled with levity

She told them that their utilisation of the leadership skills impacted on them through the training would go a long way to help them live a desirable life.

Also speaking, the President of Mediation Training Institute, (MTI-Nigeria), Mr Segun Ogunyannwo, lauded the UNDP initiative which he described as the best option to address the myriad challenges in the country.

He urged the state governors to key into the scheme and replicate the same in their different states to address challenges of security and employment and enhance their efforts of developing and stabilising their states.

He said that such a programme would not only help in job creation and provision of employment opportunities, but would also promote peaceful coexistence in their states and make them live a life of dignity as well.

A participant, Hanna Adebanwo, was full of appreciation to the UNDP for creating the opportunity for the teaming youth and violence victims in the state to learn skills and become entrepreneurs.

Hannah, a graduate of College of Education said that she had been at home for the past five years searching for a job but could not get, adding that the skill and entrepreneur training acquired at the programme would make her start a new life.

Also, another participant, Joseph Oluwabanse, whose family was a victim of herdsmen attack, also thanked UNDP for the training

Joseph, who said he learnt fashion designing, which would be completed in the next six months, said that the knowledge acquired in programme would help stabilize his life after the herdsmen crisis in his village.

He pledged to make use of the skill to positively impact the lives of other youths in his community by encouraging and training them in fashion designing after graduation. (NAN)

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Business & Economy

President Buhari transmits Business Facilitation bill to N’Assembly

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President Muhammadu Buhari
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The Senate has received the Business Facilitation (Miscellaneous Provisions) Bill 2022, forwarded to the National Assembly by President Muhammadu Buhari, for consideration and passage.

The bill was accompanied by a letter dated 17th June, 2022.

The letter, addressed to the Senate President, Ahmad Lawan, was read during plenary on Tuesday.

President Buhari, in the letter, explained that the expeditious consideration and passage of the bill would promote the ease of doing business in Nigeria.

It reads, “Pursuant to Sections 58(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), I forward herewith the Business Facilitation (Miscellaneous Provision) Bill 2022 for the kind consideration of the Senate.

“Business Facilitation (Miscellaneous Provision) Bill 2022 seeks to promote the war of doing business in Nigeria by amending relevant legislation.

“While hoping that this submission will receive the usual expeditious consideration of the Senate, please accept, Distinguished Senate President, the assurances of my highest consideration.”

 

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N5 trillion urgently needed to cushion effects double digits increase on ordinary Nigerians – World Bank

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The World Bank has warned that Nigeria could lose about N5trillion in 2022 from gasoline subsidies.

The bank also said that N5 trillion is urgently needed to cushion ordinary Nigerians from the crushing effect of double-digit increases in the cost of basic commodities.

The World Bank said in it Nigeria Development Update (NDU) released on Tuesday in Abuja.

The report said: “When we launched our previous Nigeria Development Update in November 2021, we estimated that Nigeria could stand to lose more than N3 trillion in revenues in 2022 because the proceeds from crude oil sales, instead of going to the federation account, would be used to cover the rising cost of gasoline subsidies that mostly benefit the rich”.

World Bank Country Director for Nigeria Shubham Chaudhuri, however noted: “Sadly, that projection turned out to be optimistic. With oil prices going up significantly, and with it, the price of imported gasoline, we now estimate that the foregone revenues as a result of gasoline subsidies will be closer to 5 trillion Naira in 2022.

“N5 trillion is urgently needed to cushion ordinary Nigerians from the crushing effect of double-digit increases in the cost of basic commodities, to invest in Nigeria’s children and youth, and in the infrastructure needed for private businesses small and large to flourish, grow and create jobs.”

The report noted: “Nigeria is in a paradoxical situation: growth prospects have improved compared to six months ago but inflationary and fiscal pressures have increased considerably, leaving the economy much more vulnerable”.

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Nigeria’s banking sector now immune to economic shock – NDIC

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Nigeria Deposit Insurance Corporation (NDIC) has said that the banking sector is now immunized to withstand shocks that may impact the economy and the financial system.

Mr Bello Hassan, Managing Director of NDIC said this at a retreat for members of the Senate Committee on Banking, Insurance and other Financial Institutions with the NDIC, in Lagos.

Any change in fundamental macroeconomic variables or relationships that has a significant impact on macroeconomic outcomes and measures of economic performance, such as unemployment, consumption, and inflation, is referred to as an economic shock.

Mustapha Ibrahim, Executive Director (Operations), who represented the NDIC boss, said Nigerian banking industry was currently resilient to most of these difficulties, particularly external shocks over which the Corporation had no control.

He said: “We have tried to immunise the system to withstand shocks that may be impacting on the economy and the financial system”.

Hassan, further said that effective risk-based management remained critical to a safe and sound financial system.

“The NDIC and the Central Bank of Nigeria have a very robust supervisory framework under the risk-based supervisory format the risk-based approach is actually proactive. For the most part, we try to anticipate all these risks – Macro, micro, domestically and globally – to address them continuously.

“So, it is so dynamic that we also are constantly on a real-time basis, monitoring the industry continuously and fine-tuning our supervisory tools, both onsite and offsite, to mitigate some of the challenges the banks may be facing,” he said.

On his part, Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, said the retreat demonstrated progress in creating lasting and workable relationships in the national interest.

Sani, who was represented by Senator Olubunmi Adetunbi, was optimistic that the outcome will aid in the strengthening of the financial and banking sectors, particularly the corporation’s supervisory and regulatory role.

“The National Assembly and NDIC are key institutions critical to the growth and development of the Nigerian economy. While we provide the legal and institutional frameworks, NDIC carries out its regulatory or supervisory responsibilities in order to safeguard the banking sector.

“Engagement of this nature gives us the platform to deeply look into our activities and responsibilities and also examine how far we have gone in carrying out our mandate as required. It helps in injecting fresh ideas into our operations which will materialise into an improved, effective and efficient service delivery to Nigerians,” he said.

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