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Requisite Skills Way To Go To Fixing Unemployment – Sir Air

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Sir Joseph Ari, Director General of the Industrial Training Fund (ITF) on Thursday said adequate acquisition of relevant skills by Nigerians will go a long way to address the nation’s unemployment problem.

Sir Ari, said this at a press conference on ITF-NECA Technical Skills Development Project (TSDP) and the signing of Memorandum of Understanding with participating organisations in Abuja, Nigeria’s capital.

TSDP, is a joint initiative by the Industrial Training Fund (ITF) and Nigeria Employers’ Consultative Association (NECA) designed to promote the availability of middle-level manpower with the appropriate Technical and Vocational Skills to meet the identified needs of industries in the country.

Ari, said that unemployment in Nigeria is occasioned by lack of skills acquisition and skills mismatch, adding that sometimes where job vacancies exist, there are no Nigerians with requisite and technical know-how to fill them

He said: What you are about to witness is the perfect example of how the public private partnership can work. The two body that is the Nigeeia Employers’ Constructive Association (NECA) and Industrial Training Fund (ITF) have been advocating for this country to delve into Technical and Vocational Education and Training (TVET) but out calls have always fallen on deaf ears.

However, of recent, we have seen members of both the public and private body taking a cue and falling in line and listening to these yearnings and clarion calls from NECA and ITF.

“For the avoidance of doubt, this is the only direction to go, if we are to fix the infrastructural deficit and get our people empowered with requisite skills.

“This is what other nations in other climes have done to get to where they are and where they are now today known as the first world. The are where they are today on account of TVET and we cannot be left behind.

“Paper qualification is good but without skills you can’t fix infrastructure. Therefore, we shall continue to sing this clarion call, until all Nigerians embrace technical skills as the way to go in fixing the rots in our country.”

Speaking further on the Technical Skills Development Project, Sir Ari said the scheme has produced over 54,000 technicians in various vocations since inception twelve years ago.

He also explained that some of the trainees of the project have been provided with business start-up grants while others were linked to corporate employers for direct employment.

“From mere six participating organizations that trained and graduated 285 highly skilled technicians when it commenced in 2010, the project today boasts of having supported fifty-nine participating organizations and technical colleges with machinery and technical equipment, while also graduating 54,603 highly skilled technicians that are either employed in corporate organizations or have become entrepreneurs that are employing others,” Sir Ari said.

Ari, however, identified funding constraints, high rate of unemployed youths that the project cannot absorb, lack of awareness and infrastructural deficit as some of the challenges confronting the scheme.

Speaking on the sidelines, Director, Learning Development and Project, NECA, Celine Oni said for the 12 years the project has been on, there has been positive good results which is very evident.

She said: “This project was conceived based on lack of skills in our economy and surveys conducted by the ITF and NECA in 2009 and several other surveys therefore, confirmed the fact that we had low capacity level, lack of skills and huge unemployment in our country.

“The project rose to the call to address this issues and we decided to contribute our own bit to solving this national problem and so far we are very happy that in the twelve years of the project, they have improved results.

“Over 54,000 youths so far in the project have graduated as competent technicians that are either working in organisations currently or are running their businesses and are now Employers of labour.

Oni, further said the Memorandum of Understanding signed by 30 participating organizations is to ensure global standard training for trainees to enable them compete globally.

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Nigeria, UK Move to Close £1.2bn Trade Data Gap with Digital Customs Pact

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Nigeria and the United Kingdom have agreed to deepen customs cooperation through a new digital data-sharing framework aimed at resolving a £1.2 billion discrepancy in bilateral trade figures, a longstanding issue affecting transparency and efficiency between both economies.

The agreement was reached during a high-level meeting in London on March 18, 2026, held on the sidelines of President Bola Tinubu’s state visit under the Nigeria–UK Enhanced Trade and Investment Partnership (ETIP).

According to the Nigeria Customs Service (NCS), the talks brought together Comptroller-General Adewale Adeniyi and Ms. Megan Shaw, Head of International Customs and Border Engagement at His Majesty’s Revenue and Customs (HMRC), with discussions focused on customs modernisation, trade data transparency, and operational collaboration.

At the centre of the engagement is a significant mismatch in trade statistics. Nigeria recorded about £504 million worth of imports from the UK in 2024, while UK data shows exports to Nigeria at approximately £1.7 billion over the same period — leaving a gap of roughly £1.2 billion.

Both sides described the discrepancy as structural and agreed on coordinated measures to address it. Chief among these is the proposed implementation of a pre-arrival data exchange system, which will connect digital customs platforms in both countries to improve data accuracy, strengthen risk management, and enhance compliance monitoring.

Adeniyi emphasised that stronger customs collaboration is vital for economic growth and sustainable trade, noting that customs authorities play a key role in ensuring secure and transparent cross-border trade flows.

The meeting also highlighted advancements in customs technology, with the UK showcasing artificial intelligence-driven tools, digital verification systems, and real-time analytics designed to improve cargo processing, risk assessment, and border security.

In addition to addressing the data gap, both countries agreed on several strategic initiatives, including the development of a Customs Mutual Administrative Assistance Framework, technical cooperation on capacity building, and the establishment of a joint engagement mechanism under ETIP.

The NCS said the outcomes of the meeting would enhance operational efficiency, boost trade facilitation, and support Nigeria’s broader economic reform agenda, positioning the country for improved competitiveness in global trade.

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Nigeria’s “Shockproof” Economy: Cardoso Signals New Era of Stability to London Investors

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CBN Governor, Yemi Cardoso
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Central Bank of Nigeria (CBN) Governor Olayemi Cardoso issued a bullish assessment of the nation’s financial health yesterday, declaring that aggressive institutional reforms and disciplined monetary policy have built a “stronger capacity” to withstand global economic volatility.

Speaking at the Africa Capital Forum—held on the sidelines of President Bola Ahmed Tinubu’s state visit to the United Kingdom—Cardoso painted a picture of a Nigerian economy transitioning from a period of emergency stabilization to one of sustained investment.

A Fortress Against Volatility

The Governor’s address focused heavily on the “de-risking” of the Nigerian financial system. By emphasizing a shift toward a predictable policy framework, Cardoso aimed to reassure international stakeholders that the days of opaque, discretionary decision-making are ending.

“We are reviewing our policies with a view to developing meaningful policies and establishing a predictable policy framework to minimise discretion,” Cardoso stated, noting that consistency is the primary tool for reducing investor uncertainty.

The Governor highlighted several critical milestones achieved under the current administration’s reform agenda:

Banking Recapitalization: The CBN reported that over 30 banks have already met new capital requirements.

Notably, 28% of the newly raised funds originated from foreign investors—a metric Cardoso cited as a clear vote of international confidence.

FX Transparency: A new foreign exchange manual has been deployed, stripping away previous restrictions to boost liquidity and simplify operations for multinational businesses.

Remittance Surge: Increased diaspora remittances have bolstered foreign exchange reserves, providing a crucial buffer against external shocks.

Fiscal-Monetary Synergy: In a departure from previous friction, Cardoso noted that the inclusion of fiscal authorities on the CBN Board and the Monetary Policy Committee (MPC) has synchronized the nation’s broader economic strategy.

The Digital Frontier: “Vision for Nigeria”

Looking ahead, the Governor announced the completion of a new Payments System Vision. This initiative aims to cement Nigeria’s status as the continental leader in digital payments and cross-border transactions, specifically targeting the removal of regulatory hurdles for the nation’s burgeoning fintech sector.

 

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Tinubu Swears in Taiwo Oyedele as Minister of State for Finance

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President Bola Ahmed Tinubu and Taiwo Oyedele
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President Bola Ahmed Tinubu on Monday swore in Taiwo Oyedele as Minister of State for Finance, praising his experience, dedication, and professionalism in public service.

Speaking shortly after the brief ceremony at the Presidential Villa in Abuja, the president described the appointment as a vote of confidence in Oyedele’s competence and commitment to national development.

Tinubu commended the new minister for his role in coordinating the work of the Presidential Committee on Fiscal Policy and Tax Reforms, noting that his expertise and deep knowledge of tax policy had been instrumental in shaping reforms aimed at simplifying Nigeria’s tax system, expanding the revenue base, and improving the business environment.

“We are very proud of your knowledge, your simplicity, ambition, and excellence,” the president said, while also acknowledging the support of Oyedele’s wife, whom he praised for standing by him despite the demands of public service.

Tinubu said Oyedele’s dedication, patience, and determination to serve the country made him well suited for the role, adding that the position carries significant responsibility at a time when Nigeria is pursuing economic stability and growth.

According to the president, the new minister’s efforts in reforming Nigeria’s tax framework have helped address policies he described as outdated and inconsistent with progressive economic thinking.

Oyedele, who hails from Ikaram in Akoko area of Ondo State, is an economist, accountant, and public policy expert.

He obtained a Higher National Diploma in Accountancy and Finance from Yaba College of Technology and later earned a Bachelor of Science degree in Applied Accounting from Oxford Brookes University.

He has also completed executive education programmes at London School of Economics, Yale University, Gordon Institute of Business Science, and Harvard Kennedy School.

Before his appointment, Oyedele spent 22 years at PricewaterhouseCoopers, where he joined in 2001 and rose to become Fiscal Policy Partner and Africa Tax Leader.

He also serves as a professor at Babcock University in Ogun State and as a visiting scholar at Lagos Business School.

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