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To eliminate poverty and unemployment, small Business need support,”- Mariam Katagum,

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Amb. Mariam Katagum, Minister of State for Industry, Trade and Investment
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The Minister of State for Industry, Trade and Investment, Mariam Katagum, has said that, in order to eliminate poverty and unemployment in the country, small firms need to be supported.

Katagum said this at the 2021 4th Nigeria Diaspora Investment Summit (NDIS21), organised by Nigerian in Diaspora Commission (NiDCOM) at the Congress Hall at the Presidential Villa in Abuja.

It had the theme: “Partnership and Linkages for Post-COVID Economic Growth”, and sponsored by nine organisations ranging from banks, real estate, and state governments, among others.

The News Agency of Nigeria (NAN) reports that the hybrid summit touches sectors such as healthcare, agribusiness, technology, education, creative, sport and entertainment, oil and gas, manufacturing and infrastructure/real estate.

Katagum said that the present administration, which took office in May 2015, recognised that the economy is likely to be on a persistent and rapid downward trend unless definite, coordinated and necessary steps are taken to improve it.

“It was in this regard that small businesses were acknowledged as constituting the backbone of any growing economy, and that in order to eliminate poverty and unemployment in the country, small firms needed to be supported in Nigeria, including channeling foreign direct investments to them.

“The earliest action taken by this government was the prioritisation of three policy goals of tackling corruption, improving security and re-building the economy,” she said.

Speaking earlier, Amb. Zubairu Dada, Minister of State for Foreign Affairs, said that Nigerians in Diaspora represent an indomitable force.

“They are flag bearers of Nigeria’s image and entrepreneurial energy. Also, they represent Nigeria’s irrepressible spirit and incredible can-do attitude in business and politics, in education and in sports, in entertainment and in science, in medicine and in arts.”

He added that Nigerians have demonstrated across the world, what Nigerians genuinely represent. Furthermore, with the contributions of the Diaspora into the country over the years and their recent interventions during the COVID-19 period, including the supplies of Personal Protective Equipment (PPEs).

“Through training and retraining of COVID-19 experts in the country, to educating the citizens on safety measures, they have demonstrated that they are inestimable assets that the government should partner with in spurring rapid economic growth, most especially in this post-COVID era.

“As we seek to grow and diversify the economy and attracting foreign investment into our economy, it is therefore apt that we tap into our Diaspora, particularly at this time when we are witnessing a skewed shift in foreign direct investment.

“As a result of the COVID-19 outbreak and certain inevitable problems that the Administration is working assiduously to overcome, I am very optimistic therefore that this Summit will be a very productive one and will indeed build on its success of attracting Foreign Direct Investment (FDI) from the Diaspora,” he said.

Also speaking earlier, the Chairman/CEO of NiDCOM, Mrs Abike Dabiri-Erewa, said that partnership is essential for credible response with lasting effects.

According to her, therefore in the quest of the Federal Government to go far in repositioning the economy in this post COVID era, there is a need to partner with the Diaspora in achieving these goals.

“This is why the Summit with this year theme is very apt because it creates that avenue and platform of partnership between the Government and the Diaspora in attracting investment into local business and thus enhancing Foreign Direct Investment in the country.

“Beyond this, the summit has over the years been expanding its participants’ network, showcasing their products and services to target audiences such as the Diaspora investors, sponsors and government actors. (NAN)

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Oyebanji Is Back From USA

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Ekiti State Governor, Biodun Oyebanji
Ekiti State Governor, Biodun Oyebanji
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Ekiti State Governor, Mr Biodun Oyebanji this morning returned from his working visit to the United States of America.

A statement by the Special Adviser ( Media), to the Governor, Mr Yinka Oyebode said Oyebanji arrived the Muritala Mohammed Airport, Lagos around 10am and was received by some government officials.

The Governor will attend to some scheduled meetings in Lagos later today and head to Abuja on Thursday for other scheduled assignments.

Governor Oyebanji, in the course of the working visit to America, had extensive talks with some heads of governments and institutions, business leaders and development partners, exploring investment opportunities for the state’s power infrastructure, the Special Agriculture Processing Zone and the Ekiti Knowledge Zone, among others.

“These were outside his participation in the US-Africa Business Summit and the signing of MOU with CAVISTA Holdings for a multi billion naira 100,000 hectares cassava farm in the state.” the statement said.

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Labour Rejects FG’s Fresh ₦54,000 Minimum Wage Proposal

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The Federal Government has proposed to pay N54,000 as minimum wage, as the Tripartite Committee on the New Minimum Wage returned to the negotiation table after the Organised Labour pulled out of the negotiations last week.

At the reconvened meeting this week, the Federal Government made a fresh proposal to pay N54,000 as against the initial N48,000 it proposed during the last sitting.

However, a reliable source at the meeting said that the Organised Labour refused the new proposal, as it is a far cry from the N615,000 proposed by both the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

According to the source, the meeting which held behind closed doors at the Nicon luxury hotel in Abuja on Tuesday has been adjourned to Wednesday, May 22 to continue with negotiations.

The Organised Labour comprising the NLC and the TUC had on Tuesday given the Federal Government up till the end of May to conclude negotiations for a new minimum wage.

The unions also directed their members in states that are owing the N30,000 minimum wage to gear up for industrial action.

May 31 Deadline
The Federal Government had failed to present a nationally acceptable minimum wage to Nigerians before the May 1 Labour Day.

The situation has forced labour to be at loggerheads with the government. In the wake of the tussle, NLC President Joe Ajaero insisted on the N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the economic situation worsened by the hike in the cost of living and the needs of an average Nigerian family of six.

With the cost of living rising following the removal of fuel subsidy, calls for a new minimum wage have continued to make headlines in Nigeria.

Ajaero and labour leaders gave the Federal Government a May 31 deadline to meet their demands.

 

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EFCC Arrests 78 Internet Fraudsters In Enugu, Imo

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Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede
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The operatives of the Enugu Zonal Command of the Economic and Financial Crimes Commission (EFCC) have arrested 78 suspected internet fraudsters in Enugu and Imo States.

EFCC spokesman Dele Oyewale disclosed this in a statement issued on Monday, May 20, 2024.

Oyewale noted that 29 suspected internet fraudsters were arrested in Enugu metropolis on May 15, while 49 others were nabbed in Imo State on May 17.

He said the suspects were arrested following actionable intelligence about their suspected involvement in online criminal activities.

The EFCC spokesperson listed items recovered from the suspects to include 13 cars, mobile phones, and laptops.

Oyewale added that the suspected internet fraudsters would be charged to court upon the conclusion of investigations.

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