NSE CEO to Review 2018 Market Performance, Project 2019

09/01/2019

The Nigerian Stock Exchange (NSE) is set to hold its 2018 Market Recap & Outlook for 2019 on Monday, January 14, 2019, at the Stock Exchange House, Lagos.

This annual event is a forum for the Chief Executive Officer of NSE, Mr. Oscar N. Onyema to brief the stock-broking community, analysts, media and other stakeholders, on the performance of the market in the preceding year and give prognosis for the market for the New Year, 2019.

With the significant progress made by the exchange in 2018 in areas of thought leadership, product development, regulation, sustainability, protection of investors fund amongst others, attendees will have the opportunity of learning more of the 2019 plans.

The Nigerian Stock Exchange, a company limited by guarantee, services the largest economy in Africa and is championing the development of Africa’s financial markets.

The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services, and more. The Nigerian Stock Exchange continues to evolve to meet the needs of its valued customers, and to achieve the highest level of competitiveness.

It is an open, professional and vibrant exchange, and the Entrepreneurial Growth hub of Africa. The Nigerian Stock Exchange aspires to be Africa’s foremost securities exchange, connecting Nigeria, with the rest of Africa and the world.

IATA Tests New Payment Platform for Air Tickets

Business Journal

09/01/2019

The International Air Transport Association (IATA) announced the successful completion of the first “IATA Pay” ticket purchase transaction in a live test environment. The transaction was conducted in partnership with ipagoo, a UK-based fintech company.

IATA Pay is an industry-supported initiative to develop a new payment option for consumers when purchasing a ticket directly from an airline website. It is made possible by the European Commission’s second Payment Services Directive (PSD2), and the UK’s Open Banking regulation.

These regulations encourage use of so-called direct debit transactions in which payments are made from the customer’s bank account directly into the bank account of the merchant. This method offers an extremely high level of security to both user and recipient and can be instantaneous.

IATA’s role is to develop an industry solution enabling airlines to make this payment option available on their websites.

The live test conducted with ipagoo was done under the UK’s Open Banking framework with IATA Pay pilot airlines, including Cathay Pacific Airways, Scandinavian Airlines and Emirates.
For airlines, the advantages of IATA Pay are:
1: Cheaper payment option compared to other alternatives

2: Highly secure

3: Faster cash-flow with instant/near instant payment to the merchant

4: Simpler payment process resulting in fewer lost sales.

For consumers the benefits include access to a new, simpler method of payment that is highly secure.
“Today’s consumers, and especially millennials, have expectations of multiple payment options including mobile and peer-to-peer. IATA Pay responds to these expectations. At the same time, airlines are trying to manage significant card payment costs — $8 billion per year and rising. A large part of this cost is incurred in direct purchases from airline websites. One of IATA’s strategic objectives is to support airlines’ financial sustainability including controlling costs,” said Aleksander Popovich, IATA’s Senior Vice President of Financial and Distribution Services.
Carlos Sanchez, CEO, ipagoo said: “We are delighted to have completed the first Open Banking live transaction for the airline industry, helping IATA and its member airlines to achieve their goals of operational and financial efficiency. ipagoo’s technology provides a secure, multi-country banking service for IATA. We are at the forefront of development and innovation within the financial industry and committed to helping businesses and their clients take advantage of the opportunities provided by Open Banking.”
IATA is also working with Deutsche Bank on a prototype for Europe (excluding the UK), starting with the German market, which is expected to undergo testing in early 2019.

$1.2bn or $182m: Lagos Monorail Budget Controversy Deepens

Business Journal

07/01/2019

The trending report by China Railway Construction Corporation, the company in charge of Lagos light rail project otherwise known as Lagos monorail, has yet again piqued the curiosity of BudgIT and its unrelenting demand for openness on the part of the Lagos State Government in terms of its budget.

Just as taxpayers, BudgIT says it is seriously concerned about the discrepancy between the figure contained in the 2010 report delivered by China Railway Construction Corporation to its shareholders (USD$182m), as published on the company’s website, and the officially acclaimed figure by the Lagos State government, which puts the project cost at USD$1.2billion.

“The value of the Group’s new overseas contracts during the reporting period was RMB9.5568 billion, which involved the following significant overseas projects: light rail project in Lagos, Nigeria (the value of the contracts for blue line and red line was RMB1.256 billion),” the report reads.

‘While being conscious of possible underlying factors that could be responsible for this humongous difference, we say with certitude that ambiguities of this like would have ceased to occur had the state government yielded to our demand and that of the people to put an end to its budget secrecy.

Lagosians deserve to know, steadily and accordingly, full details of how state resources are being used without any hesitation on the part of the government. Aside from the monorail, we reiterate our concern about the same opacity that plaques toll gates operation and large constructions in Lagos. Same goes to the abject lack of transparency in the procurement process, an impenetrable system which has ringfenced public funds around private interests.

To put to rest all doubts and concerns, BudgIT demands that the Lagos state government should break the silence and come out clean on this matter. What is the overall cost of the Monorail project? Why the discrepancy between the official figure and the contractor’s report? These are key questions that demand an immediate response from the state authority.’

Signed: Adeniyi Soleye
Communications Lead
BudgIT

About BudgIT

BudgIT is a civic organization that applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change. A pioneer in the field of social advocacy melded with technology, BudgIT uses an array of tech tools to simplify the budget and matters of public spending for citizens, with the primary aim of raising the standard of transparency and accountability in government.

NIPR, P+ Measurement Partner on Media Monitoring

Business Journal

07/01/2019

Clockwise: General Secretary, Lagos State Chapter, Nigerian Institute of Public Relations, Thelma Okoh; Chairman, Lagos State Chapter, Nigerian Institute of Public Relations, Olusegun McMedal; Lead Consultant, P+ Measurement Services, Philip Odiakose; and Chief Operating Officer, P+ Measurement Services, Olufunke Mohammed during the signing of the Memorandum of Understanding marking P+ Measurement Services as the Official Media Monitoring and Evaluation Partner for the Chapter in Lagos.

The Lagos State Chapter of the Nigerian Institute of Public Relations (NIPR) has announced an exclusive partnership with the P+ Measurement Services to serve as the Official Media Monitoring and Evaluation Partner for the Chapter.

P+ Measurement Services is the leading independent communications/PR measurement and evaluation agency in Nigeria that specializes in delivering bespoke media monitoring, measurement, evaluation services and analysis across the full spread of media channels.

The exclusive partnership which commenced on Monday, December 17, 2018 will see the P+ Measurement Services handling the media monitoring and social listening activities of the Lagos NIPR across print, broadcast and online platforms during specific campaigns or events and provide the Chapter a performance Audit Report upon the completion of such activity, at no cost.

Lagos NIPR will allow P+ Measurement Services to leverage its brand properties to promote the company’s name and logo on all the Chapter’s campaigns and event communication materials, stating it as the Official Media Monitoring and Evaluation Partner.

Speaking during the signing of the Memorandum of Understanding which was held at the Secretariat of the Chapter, the Chairman, Lagos NIPR, Olusegun McMedal, said that, “This exclusive partnership will help the Lagos State Chapter stay abreast of news mentions, helping it to track, analyze and respond to conversations across media platforms real time. The outcome will also serve as a source of strategic data and component of audience engagement going forward. P+ Measurement Services is the perfect partner to help us fully realize these capabilities.”

Also speaking during at the event, the Lead Consultant of P+ Measurement Services, Philip Odiakose, stated that, “P+ Measurement is very happy to partner with the Lagos State Chapter which is the leading branch of the regulatory body of the public relations industry in Nigeria and we are committed to helping the body grow in the region through independent media monitoring and evaluation services as we believe the PR industry is currently driven by data, hence the need for the body to have a data hub they can reach out to for factual figures. Then again, this means more work for the team, but we aim to deliver the best with precision, in line with the current market standard.”

ABOUT NIPR

Established in 1963, the Nigerian Institute of Public Relations (NIPR) is the non-governmental, not-for-profit professional association of Public Relations practitioners chartered (by Decree 16 of June 1990 now an Act of Parliament) to regulate and develop the public relations, public affairs and communication practice in Nigeria with functioning Chapters in the 36 States of the Federation including the Federal Capital Territory, Abuja.

Wapic Insurance Unveils Innovative Travel Insurance Policy

Business Journal

19/12/2018

Capture — L-R: Patrick Osadebe, Group Head, Retails and Distribution, Wapic Insurance Plc; Bode Ojeniyi, Executive Director; Yinka Adekoya, Managing Director/CEO; Bankole Bernard, National President, National Association of Nigerian Travel Agencies; Aina Akintonde, Group Head, Services and Fulfilment, Wapic Insurance and Ayodeji Bankole-Olusina, Managing Director designate, Wapic Life, during the unveiling of Wapic Travel Insurance product in Lagos yesterday.

Wapic Insurance Plc has unveiled an innovative travel insurance product to revolutionise the travel insurance experience of Nigerians travelling outside the country for personal, family and official trips. The product is specifically designed to cover individuals against unforeseen incidents during international travel.

The company says the launch of the product after an extensive period of a detailed review of consumer-detriment issues in travel insurance came as the best possible action to ensure better consumer protection during travel.

“Wapic’s solid reputation for delivering top-notch insurance services, coupled with this product’s combination of institutional knowledge, quality and customer service makes it an ideal travel insurance option of choice. The new product is set to be the most innovative solution of vertically integrated travel insurance products and assistance services that protects consumers against risks associated with travel and helps resolve issues that may arise. These services span the entire travel insurance value chain, including underwriting, product design, commercial delivery and claims administration.”

L-R: Patrick Osadebe, Group Head, Retails and Distribution, Wapic Insurance Plc; Bode Ojeniyi, Executive Director; Yinka Adekoya, Managing Director/CEO; Bankole Bernard, National President, National Association of Nigerian Travel Agencies; Aina Akintonde, Group Head, Services and Fulfilment, Wapic Insurance and Ayodeji Bankole-Olusina, Managing Director designate, Wapic Life, during the unveiling of Wapic Travel Insurance product in Lagos yesterday.

The Wapic Travel Insurance package covers:

Compensation for in-flight loss of checked-in luggage
Compensation for delay of flight and delay of luggage
Payment of medical assistance for illness or accident sustained while travelling
Transport or repatriation for medical reasons for the insured and/or family members travelling with the insured
Accidental death cover and provides transport or repatriation of mortal remains of insured
Emergency return home following the death of a close family member

Commenting on the new travel product, Mrs. Yinka Adekoya, Managing Director/CEO of Wapic Insurance Plc said: “Wapic ceaselessly explores opportunities to improve our customer experience offerings to the public and to continually address the needs of our customers. We are pleased to be able to offer our customers greater options through our travel insurance package, which includes pocket-friendly pricing based on duration of trip and destination of the prospective policy holder.”

Adekoya said the product covers a maximum of 92 consecutive days of travel and is for persons between the ages of three months and 80.

Mr. Bankole Bernard, National President, National Association of Nigerian Travel Agencies (NANTA) commended the Wapic Travel Insurance Policy as the right step at the right time. He said the product will increase the number of players in that segment of the market and lead to better services for consumers.

Bernard added the NANTA regards Wapic Insurance Plc as a strategic partner given its rich legacy of delivering value to consumers in the past 60 years.

MainOne: Delivering Digital Transformation in West Africa

Business Journal

19/12/2018

L-R: Asteroid CEO, Remco van Mook and Product Manager, MDXI, Vremudia Oghene-Ruemu at the launch of WAF-IX

This year, MainOne signed strategic partnership deals with Orange and TE Subcom, to extend our submarine cable into Dakar, Senegal and Abidjan – Cote D’Ivoire.

These projects will enable these West African countries with reliable connectivity services at lower costs. Neighbouring countries such as Burkina Faso, Mali and Mauritania will also benefit from this enhanced capacity.
In Ghana, we extend our reach with new points-of-presence (PoPs) in Takoradi’s Business District and Kumasi. These PoPs join the growing number of MainOne PoPs in several locations in Ghana such as the Central Business District; Accra; Tema; Cable Station at Nungua; Spintex Road; and Legon.

The reach is designed to assure our enterprise customers of more robust infrastructure to deliver best-in-class connectivity, enterprise voice, data center services, and value-added services.
In Nigeria, MainOne is partnering with the Ogun and Edo State Governments on their digital transformation plans to build fibre infrastructure across the state capitals. In November, we launched the carrier-neutral, West African Internet Exchange (WAF-IX) with global IXP platform provider, Asteroid out of the MDXi data center.
WAF-IX will facilitate improved interconnection and peering, allow customers connect to multiple networks, cloud and content providers, enable service providers operate more efficiently, deliver enhanced end-to-end network performance, and reduce overall IP Transit costs.

One of the world’s largest, cloud network platform, Cloud Flare is already peered with WAF-IX with major OTTS and content providers getting on-board.

By demonstrating “best-in-class” cloud service capabilities and supporting local businesses in their digital transformation journey, our Data Centre subsidiary MDXi, attained the Gold Data Centre certification from Microsoft and a re-certification from SAP.
This Gold Data Centre certification is the highest partnership level with Microsoft in Data Centre Competencies and is the pinnacle for Cloud Productivity in Microsoft’s Partner Network program. SAP’s re-certification endorses MDXi’s ability to deliver high-quality cloud and infrastructure operations services to its customers running SAP solutions. MDXi also obtained Tier III Constructed Facility Certification (TCCF) from Uptime Institute making it the most certified TIA942, PCI DSS and ISO 27001 Certified Data Center in West Africa.
With the on-going, nationwide network expansion in Nigeria and Ghana, as well as service delivery in 10 West African countries including Togo, Cameroun, Benin, Niger, and Chad, MainOne is making significant investments in infrastructural projects in West Africa as a push to ramp up technology penetration in the region and support the budding business ecosystem.

‘Nigeria Needs $3trn Infrastructural Investment in Next 20 Years’

Business Journal

05/12/2018

Dr. Emeka Okwuosa, the Chairman, Oilserv Group says Nigeria needs to invest over three trillion dollars in infrastructure over the next 20 years for positive impacts in various sectors of the economy,

Okwuosa was quoted to have said while delivering paper titled, “Infrastructural Development: A Key to Economic Growth and Development in Nigeria” at the 48th convocation of the University of Nigeria, Nsukka.

In the statement signed by the media consultant of Oilserve, Dr. Ngozi Anyaegbunam, he said the investment would also help to optimise the collective contributions from operators in various sectors.

According to him, the World Bank ranks Nigeria lowly as viable destinations for doing business pointing to the poor state of its infrastructure.

The 2017 World Economic Forum (WEF) Report ranks Nigeria, out of 137 countries, as follows: Roads Quality: 127th, Airport Quality: 125th, Electricity Supply: 132nd, education system: 120th, Math & Science: 118th, Innovation: 112th.

How do we respond to these negative and retrogressive occurrences? Nigeria needs to invest over $3 trillion in infrastructure over the next 20 years,” he said.

Okuwosa said: Where can we source for this funding? It is evident that government alone cannot provide these resources.

The Oilserv boss said that Federal Government must without delay, leverage the private sector capital in a variety of ways such as creating special purpose vehicles for financing creations and drive.

He urged the government to also develop public-private partnerships, and investment funds with a variety of guaranty plans and arrangements.

He said that government key role could be to create and sustain an enabling environment by deploying instruments like the Nigeria Sovereign Investment Authority with its arm.

Okwuosa said that the National Sovereign Wealth Fund should act as a catalyst for the provision of funding needed for development.

The government and the private sector must, as a matter of urgency respond to these deficiencies in the economy by accelerating infrastructure development.

“By this, I specifically refer to power, roads, rail, ports and telecommunication (especially broadband technologies). Also equally important and in alignment, is the development and implementation of the legal and regulatory frameworks and environment and all other related processes that will enhance the ease of doing business in Nigeria. Today, the total value of Nigeria’s infrastructural stock (road, rail, power, airports, waterways, telecoms, and seaports) represents only 35 per cent of Gross Domestic Products (GDP). In consideration and comparison to other peer emerging markets countries whose average is 70 per cent of GDP, Nigeria is way below expectation for an appreciable development for economic growth and prosperity,’’ Okwuosa added.

He said that the massive underinvestment in infrastructural development had been the result or bane to achieving the nation’s vision of becoming a top 20 economy by the year 2020.

The Oilserv helmsman said that in reality, the present infrastructural deficit in Nigeria would continue to adversely impact on its economic growth.

According to him, the purpose of the lecture is to expose the reasons why this potential has remained relatively unachieved.

This, he said was apart from the widely held opinion that Nigeria had the potential to become a major power and player in the global economy by virtue of its human and natural resources endowments.

“I am an unrepentant entrepreneur and strongly believe in human capacity development. From my experience in working for an international multinational oil and gas service company in twelve different countries to establishment of six companies spanning oil & gas industry, mining and agriculture.”

Facebook Celebrates African Innovation at TechCrunch Startup Battlefield 2018

Business Journal

05/12/2018

In line with its commitment to growing Africa’s technology start-up ecosystem and its passion for developing diverse, young talent, Facebook is returning as the headline sponsor of TechCrunch Startup Battlefield Africa 2018.

The event, taking place in Lagos, Nigeria — will search for Sub-Saharan Africa’s best innovators, makers and technical entrepreneurs.
TechCrunch Startup Battlefield Africa sees start-ups compete across three categories: social good; productivity and utility; and gaming and entertainment. It profiles the founders and entrepreneurs leading Africa’s next wave of technology innovation and highlights new ideas, businesses and applications with disruptive potential.
On December 11, TechCrunch Startup Battlefield supported by Facebook, will bring together the strongest start-ups from across Sub-Saharan Africa, where they will pitch to a live audience of 500 people ranging from VCs, investors, government officials and developers.
Facebook representatives from Africa and beyond will be on the ground to celebrate, where they will be connecting, listening and learning from various communities as well as taking part in an exciting series of workshops, networking sessions and talks between 6th and 11th December.
“Following the great success of the inaugural TechnCrunch Startup Battlefield event in 2017, we are delighted to return as the headline sponsor for this year’s event,” says Emeka Afigbo, Facebook’s Head of Developer Programs.

“Given our passion for connecting people and helping developers and entrepreneurs to thrive, we can’t wait to see how this year’s entrants are using technology to engage and empower people across the continent.”

Events Facebook will host over the week include:

Developer Circle Leads Summit (6-7 December):A two-day summit for more than 65 Developer Circles Leads across Sub-Saharan Africa, representing a growing community of over 42,800 members across 31 cities in 15 countries across Sub-Saharan Africa.
Instagram Inspire Action Lagos – Women and Small Business Event (6 December): A workshop to inspire, educate and train 70-80 entrepreneurs and women working in tech with a panel featuring special guests.
Startups and Developers Summit 2018 by Developer Circle Nigeria (8 December):Bringing together 600 attendees, and hosted by Facebook Developer Leads, the Summit will run trainings and workshop sessions on specialist deep-tech subjects, such as Messenger Bot
Aspiring Entrepreneurs — Digital Pitch Competition (10 December): Winners from seven Nigerian states who participated in the Aspiring Entrepreneurs: Digital 2018programme will pitch their businesses to a panel of judges for a chance to win support and prizes from Facebook and Fate Foundation.
NG_Hub Start-up Mixer (10 December): A social gathering bringing together Start-ups from across the ecosystem, including NG_Hub start-ups (Start-ups using Facebook’s Community Hub) and those taking part in the TechCrunch Startup Battlefield event.

Student Hack (11 December): In partnership with Re:Learn by CC_Hub, Facebook will bring together 50 local high school students from Lagos to take part in Hack-a-Day and other activities that highlight the difference developers can make in the world using computer science skills.

‘Africa Must Leverage Strengths to Accelerate Drive Towards Integration’

Business Journal

05/12/2018

Participants to the 13^th African Economic Conference called for African countries to leverage the full range of their strengths and resources to accelerate the region’s drive towards continental integration.

Themed “Regional and Continental Integration for Africa’s Development” the 2018 AEC, jointly organised by the United Nations Development Programme, the United Nations Economic Commission for Africa, and the African Development Bank follows the launch of the African Continental Free Trade Area (AfCTA) 8 months ago in Kigali.

Speaking during the conference’s opening ceremony, Hon. Claudine Uwera, Rwanda’s Minister of State in charge of Economic Planning said: “Africa’s integration is no longer a choice. It’s a must for the continent and its people. To become the global player that it deserves to be, Africa should integrate speedily.”

Experts agree that a self-reliant approach that emphasizes intra-African trade, would not only help deepen regional economic integration, but contribute significantly to sustainable economic growth, job creation, poverty reduction, and inflow of foreign direct investment.

The African Continental Free Trade Area signed in March 2018 by 44 countries is seen as the most ambitious effort to form what has the potential to be the world’s biggest free trade agreement which aims to create a single continental market of goods and services, with free movement of business persons and investments across Africa.

Estimates are that if Africa were to increase its share of global trade from 2 to 3%, the one percentage point increase would result in an annual additional income of about US$70 billion.

Ms. Ahunna Eziakonwa, UNDP Regional Director for Africa observed: “African countries need to collaborate more effectively in devising public policies that can create skills, foster innovation and technological advancement, facilitate labour mobility and access to productive assets including land and finance.”

Speaking to the urgency of ratifying the AfCFTA, Ms. Giovanie Biha, ECA Deputy Executive Secretary said: “It’s time to ratify to ratify AfCFTA, the more ambitious the liberalization, the higher will be the gains in terms of increase in GDP and exports.”

The need for African economies to adopt innovative approaches to finance integration and especially infrastructure development also underscored.

Gabriel Negatu, Director General of African Development Bank stated: “We are committed to continue supporting Africa’s integration agenda for it will lead to sustained growth and allow the continent to withstand external pressures; enable African companies to grow and become global giants.”

AEC 2018 debates are expected to focus on four main themes: Conceptual underpinning of Africa’s integration; Infrastructure and institution for Africa’s integration; Leveraging private sector for Africa’s integration; Partnerships for effective integration that addresses impediments to Africa’s regional and continental integration.

The high points of the conference will include the launch of three significant reports: the 2018 Visa Openness Index; the 2018 Africa Sustainable Development Report; and the African Governance Report on Tuesday 4 December 2018.

Maersk Sets Net Zero CO2 Emission Target by 2050

Business Journal

05/12/2018

Soren Toft Chief Operating Officer A.P. Moller-Maersk

A.P. Moller -Maersk aims at having carbon neutral vessels commercially viable by 2030 and calls for strong industry involvement Aimed at accelerating the transition to carbon neutral shipping, Maersk announces today its goal to reach carbon neutrality by 2050.

To achieve this goal, carbon neutral vessels must be commercially viable by 2030, and an acceleration in new innovations and adaption of new technology is required. Climate is one of the most important issues in the world, and carrying around 80% of global trade, the shipping industry is vital to finding solutions. By now, Maersk´s relative CO2 emissions have been reduced by 46% (baseline 2007), approx. 9% more than the industry average. As world trade and thereby shipping volumes will continue to grow, efficiency improvements on the current fossil based technology can only keep shipping emissions at current levels but not reduce them significantly or eliminate them.

“The only possible way to achieve the so-much-needed decarbonisation in our industry is by fully transforming to new carbon neutral fuels and supply chains,” says Søren Toft, Chief Operating Officer at A.P. Moller – Maersk. Maersk is putting its efforts towards solving problems specific to maritime transport, as it calls for different solutions than automotive, rail and aviation. The yet to come electric truck is expected to be able to carry max 2 TEU and is projected to run 800km per charging. In comparison, a container vessel carrying thousands of TEU sailing from Panama to Rotterdam makes around 8800km. With short battery durability and no charging points along the route, innovative developments are imperative. Given the 20-25-year life time of a vessel, it is now time to join forces and start developing the new type of vessels that will be crossing the seas in 2050.

“The next 5-10 years are going to be crucial. We will invest significant resources for innovation and fleet technology to improve the technical and financial viability of decarbonised solutions. Over the last four years, we have invested around $1billion and engaged 50+ engineers each year in developing and deploying energy efficient solutions. Going forward we cannot do this alone” adds Søren Toft.

“Research & Development is key to take the industry away from today’s fossil based technology and by setting this ambitious target, Maersk hopes to generate a pull towards researchers, technology developers, investors, cargo owners and legislators that will activate strong industry involvement, co-development, and sponsorship of sustainable solutions that we are yet to see in the maritime industry.

In 2019, Maersk is planning to initiate open and collaborative dialogue with all possible parties to tackle together one of the most important issues in the world; the climate change.”

CBN: Nigeria’s Food Import Drops by $21bn

Business Journal

03/12/2018

The policy of the Federal Government to reduce import of food seems to be yielding the desired result as the country’s food import dropped by $21 billion since January 2015. This translates to $160.4 million in October 2018 from as high as $665.4 million in January 2015.

Mr. Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) said at the Bankers Dinner in Lagos that rice, fish, milk, sugar and wheat accounted for the drop while assuring Nigerians that the government will continue to implement farmer-friendly policies to further reduce the country’s dependent on food import.

Emefiele said: “Noticeable declines were steadily recorded in our monthly food import bill from $665.4m in January 2015 to $160.4m as at October 2018; a cumulative fall of 75.9 per cent and an implied savings of over $21billion on food imports alone over that period. Most evident were the 97.3 per cent cumulative reduction in monthly rice import bills, 99.6 per cent in fish, 81.3 per cent in milk, 63.7 per cent in sugar, and 60.5 per cent in wheat. We are glad with the accomplishments recorded so far. Accordingly, this policy is expected to continue with vigour until the underlying imbalances within the Nigerian economy have been fully resolved. We have maintained a particular focus on supporting farmers, entrepreneurs as well as small and medium scale businesses, through our various intervention programmes such as the Anchor Borrowers Program, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending and the National Collateral Registry.”

Emefiele who attributed the reduced food import bill to the CBN’s Anchor Borrowers Programme (ABP) said the Programme has created over 2.5 million employment opportunities across the country while 835,239 hectares of 16 varied crops had been planted by 862,069 farmers so far.

“It is in light of the success of the Anchor Borrowers Program with regards to cultivation of rice and maize that the Monetary Policy Committee in its last meeting on the 21st of November, 2018 recommended that the Anchor Borrowers program be applied to other areas such as palm oil, tomatoes and fisheries to mention a few.”

HP to Educate 100,000 Learners Across Africa by 2021

Business Journal

03/12/2018

Recently at the Global Citizen Festival: Mandela 100, HP announced a new commitment to reach 100,000 learners across Africa over the next three years through the HP Foundation’s HP LIFE program, and kicked off the commitment by opening a new tech-enabled HP LIFE Center in South Africa.

HP’s pledge supports the United Nations Sustainable Development Goal and furthers the company’s goals to enable better learning outcomes for 100 million people by 2025 and to enroll a million HP LIFE users between 2016 and 2025, as outlined in the HP 2017 Sustainable Impact Report.
By 2030, Africa will be home to 32% of the population under the age of 30, and the largest working age population by 2035. Yet, today’s youth unemployment in Africa is up to 3x higher than adult unemployment. HP LIFE offers free, online learning for users to gain the skills to start and grow their own business or improve their employment opportunities. Building on the success of this global program, HP is working with partners to open technology-enabled HP LIFE innovation centers to further support entrepreneurship and workforce development across the continent.
“We believe that education is a human right, that technology in the classroom is a critical component for a 21st century education, and that in today’s economy our learning is never done,” said Nate Hurst, Chief Sustainability and Social Impact Officer, HP. “Africa is experiencing rapid urbanization and digitization—and it’s essential that people have access to learn skills for the work of tomorrow. This new HP LIFE Center provides a launch pad for innovation and opportunity across the continent.”
In 2017, on the global stage at the Global Citizen Festival in Hamburg, Germany, HP announced a commitment to enabling better learning outcomes for 100 million people by 2025. The commitment to education is a part of HP’s broader Sustainable Impact strategy – a strategy to use the scope, scale and expertise of HP to drive positive, lasting change for the planet, its people and the communities where we live, work and do business.
“Sustainable Impact is fundamental to our reinvention and core to achieving our vision – to create technology that makes life better for everyone, everywhere,” said Hurst.

HP LIFE
In collaboration with institutions such as the Ekurhuleni West TVET College in Katlehong and its Centre of Entrepreneurship Rapid Incubator, HP opened the HP LIFE Center in South Africa on November 30, a technology-enabled hub to facilitate learning, collaboration and entrepreneurship in a physical, face-to-face setting.
Built on the belief that entrepreneurs are the backbone of the global economy, HP LIFE offers 30 free, online courses focused on business and IT skills – from business planning and marketing, to raising capital and design thinking. To date, HP LIFE has reached 744,000 learners in 200 countries and territories.

All users need is a computer and Internet connection to access HP LIFE, and the new, physical center in South Africa will create a more formal educational environment. HP LIFE has an enrollment goal of 1 million users between 2016 and 2025.
At the World Economic Forum’s 48th Annual Meeting in January, Youth for Technology Foundation (YTF) and HP Foundation announced a new 3D printing course to be delivered through the HP LIFE platform.

3D printing will fundamentally change the manufacturing industry. $4 to 6 trillion (USD) of the global economy will be disrupted in the next five to 10 years, shifting economic value and jobs across the globe. This new course is helping individuals to learn how to use 3D printing and create entrepreneurial opportunities.

‘Global Cancer Deaths Top 10m in 2018, 18m New Cases’

Business Journal

03/12/2018

The Mass Medical Mission is set to launch its cancer prevention initiative on Tuesday, December 4, 2018 in Lagos.

This is important given the fact that Nigeria now has the seventh lowest life expectancy in the world (down from eleventh lowest in 2014). Most Nigerians do not live to reap the fruit of their labour. Cancer and its related risk factors are the major causes of untimely death in Nigeria.

A release signed by Dr. Abia Nzelu said the global cancer burden has risen to 18.1 million new cases and 9.6 million cancer deaths in 2018 up from 14 million new cases and 8.8 million deaths in 2016. To address this problem, Mass Medical Mission (mmm) has deployed the pilot set of Mobile Cancer Centres (aka “the PinkCruise”) to take wholistic preventive healthcare to Nigerians. The eye-care aspect of Mission PinkCruise is known as Mission PinkVISSION, where “VISSION” stands for Voluntary Integrated Sight Saving Initiative of Nigeria. The PinkCruise is equipped with state-of-the-art facilities for screening and treatment (including mammography, endoscopy, colonoscopy, colposcopy, cryotherapy, laboratory, vaccination and surgeries for pre-cancer and early cancer). The pilot phase of Mission PinkCruise is currently ongoing in Lagos, following a 12-months schedule which is available on the campaign website (pinkcruise.org).

To maximize the impact of Mission PinkCruise & Mission PinkVISSION, mmm / NCPP (National Cancer Prevention Programme) is set to launch a campaign, tagged … Health Education On The Go! This campaign involves the deployment of a fleet of special buses which are designed to combine provision of health education with public transportation.

Total Reiterates Commitment to HIV/AIDS Awareness Campaign in Schools

Business Journal

03/12/2018

Total Upstream Nigeria Limited has reiterated its total commitment towards sustainable awareness campaign on HIV/AIDS among adolescents in secondary schools across the country.

Mr. Nicolas Terraz, the Managing Director, Total Upstream Companies in Nigeria gave the assurance during the official launching of the school-based project on HIV/AIDS awareness campaign for secondary school in Lagos on Thursday.

Terraz who was represented by the General Manager, Corporate Social Responsibility and Sustainable Development, Dr Charles Ngeribara said that the essence of the programme was to sanitised adolescents in very secondary school on the need to be more cautious of the menace called “HIV/AIDS’’.

Total has also provided HIV tool kits for five schools, namely, Oshodi Comprehensive School, Bolade Senior High school, Oshodi Senior High School Ikeja Grammar School and Unity Senior High School to be used as reference materials to educate others.

He said that December 1st of every year is marked globally as the World AIDS Day, hence the date for this campaign could not have been better chosen, adding that the theme for the 2018 World AIDS Day is, “Know Your Status”.

According to him, Total Upstream Companies in Nigeria connects to this, by bringing this awareness campaign to your school this year. We encourage voluntary HIV counseling and testing for all Nigerians and non-Nigerians living in Nigeria to ensure that everyone knows their status.

“We also believe that students of your age need to be aware of the disease because we believe that with knowledge comes the ability to take informed decisions to protect yourselves, your families and your communities against HIV/AIDS.

“Over the years, HIV/AIDS has been more than a major global health crisis, but the disease has also become a real development challenge especially for developing nations where young people, who are the most productive segment of the population, remain at risk.

” It is quite disturbing that, up till now, prevalence rates remain high due to the negligence and ignorance of the public,’’ he said.

The managing director said that Total, as a company, makes effort to identify with its host communities and with Nigeria as a whole, adding that not only to give back to society in fulfillment of our Corporate Social Responsibility obligations, but because it’s also truly believe that when Nigeria prospers, Total prospers too.

“To reduce the impact of this disease, we join the United Nations and the World Health Organisation as part of a broad-based coalition that is leading the fight against HIV/AIDS. It is for this reason that Total extends its annual HIV/AIDS Awareness Campaign to Secondary Schools.

“The Youth are mainly vulnerable to HIV infection, especially where they are ignorant and engage in risky behaviors such as drug abuse, cult activities, blood rituals, sexual exposures whether by informed choices or rape, etc.

According to the WHO, prevention is not only better than cure, but cheaper and prevents complications. Total agrees with the WHO and believes that the youths have a great role to play in heightening awareness and the prevention of this pandemic.

Terraz said that Total Upstream Companies in Nigeria and its partners will continue to collaborate with government at all levels, non-governmental organisations and the private sector, to educate the public on the preventive measures to mitigate the spread of this disease.

“I therefore encourage everyone here today to take the message from this campaign to your homes, friends, families, school-mates and communities. HIV/AIDS is real and will continue to destroy our communities is we do not adopt behavioral changes that prevent its spread.

Mr Roland Ewubare, the Group General Manger, National Petroleum Investment Management Services (NIPIMS) expressed commitment towards supporting effective and rewarding HIV/AIDS awareness campaign across the Federation.

Ewubare who was represented by Mrs Olunbumi Lawson expressed sincere appreciation to Total and its partners on effective partnering with the Lagos State government and other stakeholders in creating awareness to secondary school students on the HIV/AIDS.

According to him, NNPC/Total decision to carry out the campaign on HIV/AIDS in secondary scholls is in line with our company’s goal to give back to the society which we operate and touch their lives in many positive ways.

“Over time, NNPC along with its joint ventures has implemented various projects in the area of education, (building of classrooms, laboratories blocks, books, scholarship, quiz competitions ) skill acquisition, economic empowerment, , health care, water and sanitation, solar power and other infrastructural intervention.

“HIV/AIDS is a disease whose prevalence shows no sign of abating. The most effective form of prevention is awareness, in view of this, it has became imperative for us to focus on its education as a tool to spread the awareness.

– By Simon Ugwu

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