2024: PDP Unveils Timetable For Edo Guber Election
The National Working Committee of the Peoples Democratic Party (PDP) has unveiled the much-anticipated timetable for the Edo State 2024 gubernatorial election. This schedule, released after a joint meeting of the Board of Trustees and National Executive Committee at the party’s headquarters in Abuja, outlines the key activities preceding the election. Key highlights from the timetable include: Aspirants eyeing the governorship seat can obtain nomination forms for N21 million, with a 50 percent discount available for youths aged between 25 and 30; Registration of both existing and new members is set between November 16 and December 7, while the crucial party congress, determining the governorship candidate, is scheduled for February 22, 2024; December 14 marks the deadline for the submission of ward registers to the Directorate of Organisation and Mobilisation; Stakeholders’ consultative meetings with the National Working Group will be held from December 19 to 20; Expression of interest and ad-hoc forms will be available for purchase from January 10 to 16, with January 17 as the final date for their submission; The screening of governorship aspirants by the National Working Committee is set for January 18, 2024; Sales of nomination forms for completed expression of interest submissions will take place from January 19 to 25, with January 27 as the deadline for their submission. The governorship primary is scheduled for February 22, while February 24 is earmarked for appeals related to the primary process.
250,000 Households To Get Electricity In 2024 -REA
The Rural Electrification Agency (REA), says it is supporting 250,000 households with electric mobility, mini-grids, home systems to boost electricity in the country in 2024. Malam Mutari Ibrahim, the Director Promotion and Outreach (PIO) said this in a statement in Abuja. “In response to subsidy removal, REA is implementing interventions to develop electric mobility, mini-grids, distribute home systems, deploy streetlights, potentially supporting up to 250,000 households in the coming year.” Ibrahim said that the agency had equally deployed more than 1,650 Kilo Metres (KM) of solar streetlights, improving power, security, and economic growth in rural areas,” he said. He said that REA also completed 1,403 projects under the capital budget, delivering solar streetlights, mini-grid projects, standalone home systems, and grid extension works. “Through various programmes, including Energisng Education Programme. Energising Agriculture Programme beyond COVID-19, and Economic Clusters, REA delivered more than 65 Mega Watts (MW) of power across Nigeria’s six geo-political zones. “The agency has delivered more than 500MW of power, electrified numerous communities, created 500,000 new jobs, and attracted over two billion dollars in investments in the renewable energy sector over the past decade. “In advancing these achievements, we have established partnerships with the World Bank, the African Development Bank, the Global Alliance for People and Planet (GEAPP),” he said. Other partnership secured are with Rocky Mountain Institute (RMI), Japan International Cooperation Agency (JICA), Sustainable Energy for ALL (SE4ALL), Agence Française de Développement (AFD), and the United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF). He said that the agency also secured partnership with the European Union, the United Nations Industrial Development Organisation (UNIDO), the Global Environment Facility (GEF), and the United States Agency for International Development (USAID). ‘Others are the United Nations Development Programme (UNDP), and the Korean Institute of Advancement of Technology (KIAT) “In 2022, as part of the National Poverty Reduction and Growth Strategy (NPRGS) Programme, REA secured an additional four billion in capital injection grants. “To provide clean power standalone home systems to more than 50,000 locations, including rural homes, micro-businesses, schools, and faith-based institutions,” he said. Ibrahim said that from 2020 to date, REA had provided power to more than 7.5 million people, including 1.5 million households, delivering 130 Mini-Grid Projects, including 1.3 million standalone home systems. According to him, most recently, the Nigeria Electrification Project (NEP), REA negotiated and secured the advance approval of a 750 million dollars facility with the World Bank. The aim he said was to expand renewable and rural electrification initiatives, providing additional resources to Nigeria during a challenging period. Ibrahim said that Mr Salihijo Ahmad, the current Managing Director of the agency, had been a steadfast leader who has tirelessly guided REA through challenging times. “Even in the face of internal, external pressures, and resistance to anti-corruption efforts. “Upon assumption of office, Ahmad encountered a myriad of unresolved staff issues within the agency. “Recognising the immense challenge of repositioning the agency for effective project delivery, human resources became a pivotal consideration. In response, “He wasted no time in addressing concerns related to the organisation’s processes, structure, and staff welfare, with the aim of fostering a conducive work environment for optimal performance,” he said. According to him, his first step is to initiate a comprehensive institutional assessment and appraisal of the agency, carried out by a globally renowned organisational re-engineering firm. He said that the assessment rigorously evaluated the agency’s project delivery, institutional structure, and processes to determine its capacity to meet its mandate. “The recommendations from the assessment were meticulously reviewed and approved by the agency’s board and the minister before being put into action, resulting in significant accomplishments. “Over the past few months, we have collaborated closely with the ministry of power, National Assembly, anti-corruption agencies, and process organisations to initiate further reforms within REA in spite numerous obstacles,” he said.
Lagos To Inaugurate Largest Food Logistics Hub In 2024 -Sanwo-Olu
The Lagos State Governor, Mr Babajide Sanwo-Olu has disclosed that the first phase of the largest food logistics hub in West Africa will be inaugurated in 2024 to boost food security in the state. Sanwo-Olu stated this while addressing journalists at the grand finale of the 2023 World Food Day celebration at the Nigeria Police College, Ikeja, Lagos. The governor, accompanied by Ms Abisola Olusanya, State Commissioner for Agriculture, Dr Oluwarotimi Fashola, Special Adviser to the governor on Rice Initiative and members of the state executive council inspected various agricultural produce and product on display. Farmers from the 20 local governments and 37 local council development areas participated in the fair. The programme tagged: Farm Fair, Shop, Eat and Learn” is to commemorate the 2023 World Food Day with the theme: “Water is Life, Water is Food, Leave No One Behind”. The World Food Day is an annual celebration by the Food and Agriculture Organisation of the United Nations on Oct.16, to encourage action on food insecurity. “A part from the middle level markets that we are building, we are building the largest food logistics hub in the whole of West Africa. “You were part of the ground breaking ceremony which we did last year and I want to inform you that before this time next year, we should have finished the phase one of the project. “It is the largest logistics hub in the whole of West Africa, you can take a trip there independently and see for yourself, the amount of work that is going on there. “That logistics food market is supposed to be the central hub where all sort of food in Lagos will come in, it has cold storage and dry storage and all sorts. “Our plan, if you remember that two years ago, we flagged with our five-year plan, it will now take them to the middle level market; we have built about three of them and we are building additional five. “The middle level markets will now take it from main hubs before it now goes to last mile, the corner show markets and the markets that all of you see in the state,” he said. The governor said the state had a robust integrated plan that would ensure food sufficiency and food adequacy in Lagos. He noted that the plan became important because food security globally was becoming an issue. “We have a robust integrated plan at ensuring that food sufficiency, food adequacy in Lagos is secured because food security globally is becoming an issue. “For us as a government, we need to be able to help the market, we need to be able to help the farmers and we need to help our citizens. “That’s why I have come here personally to come and celebrate with them, to come and celebrate them and to come and say it to them that we will not leave them alone. “We will continue to bring about infrastructure and funding to ensure that the theme for this year leave know one behind,” he said. The governor encouraged more people to go into rice cultivation to sustain the state’s rice mill in Imota, Ikorodu. “We are looking for paddy rice growers in Lagos because we have the biggest rice mill and we are also collaborating with other states. “Our rice mill still needs a lot of paddy. It does not matter the quantity of tonnes of paddy that they grow, we will buy it off them. “The same thing with other paddy growers in the country and we need to begin to ensure that food is also affordable and accessible. “We know that the price of food has gone up but with intervention like this, that brings market closer to the consumers, am sure that all of the produce that have been brought here today will be picked up and bought-up,” he said. Sanwo-Olu said that his administration was committed to encouraging farmers, while assuring that farming was important to his administration to ensure that food was affordable and accessible for all. “I am here this afternoon to give them all the encouragement, to show to the world that Lagos can begin to show the way for urban farming. “We do not have a lot of land but the little one that we have, we are encouraging our farmers to continue to support the need of the citizens because we know that we need to grow what we eat and eat what we grow. “We can collaborate with other neighbouring states and other parts of the country to bring all of these produce to Lagos because the population is here. “For me, it is to continue to encourage of the Ministry of Agric and all of their officers, extension workers and project managers to continue to help and hold these farmers. “Especially in the aquaculture farming, piggery, fishing, poultry and all of the other areas in which we can excel. “It’s another year of celebration to celebrate them, to thank them, and for the media to know that farming for us is important. Earlier, Ms Abisola Olusanya, State Commissioner for Agriculture, said farmers and farmers’ groups with exceptional produce would be recognised and awarded prizes at the event. Olusanya noted that farmers, fishermen, and processors from the entire length and breadth of the state participated in the celebration. She said that the farmers had put in a lot of work in their different value chains to feed Lagosians and as the saying goes, “no farmer, no nation”. Dr Femi Oke, the Chairman All Farmers Association of Nigeria (AFAN) in Lagos and South-West Zone, said insecurity, flooding and poor funding pose a great danger to food security in the country. Oke urged the federal and state governments to increase budgetary allocation to the agricultural sector to increase funding to farmers. He also called for reduction in interest rates for farmers and agro processors to reduce the price of food commodities. “It is not too conducive for a farmer to
OPEC projects ‘solid’ oil demand in 2024
Prospects for the global oil market look healthy for the second half of the year, OPEC said on Thursday as the producer group stuck to its forecast for robust oil demand in 2024 and nudged up its expectations for global economic growth. Reuters report that upbeat view from the Organization of the Petroleum Exporting Countries (OPEC) comes as global oil prices have reached their highest since January. Tight supply has given impetus to the rally and OPEC’s monthly report also showed Saudi Arabia delivered on a voluntary output cut in July. The oil cartel said it expects global oil demand to rise by 2.25 million barrels per day (bpd) in 2024, compared with growth of 2.44 million bpd in 2023. Both forecasts were unchanged from last month. “Prospects for healthy oil fundamentals in the second half of the year, along with the pre-emptive, proactive and precautious approach of OPEC and non-OPEC producing countries to assess market conditions and take necessary measures at any time and as needed, will ensure stability of the global oil market,” the body said. In 2024 “solid” economic growth amid continued improvements in China is expected to boost oil consumption, it added. According to the newspaper, OPEC and its allies, known as OPEC+, began limiting supplies in late 2022 to bolster the market and in June extended supply curbs into 2024. Tighter supply has underpinned a rally in oil prices, with Brent crude trading above $88 a barrel on Thursday, its highest since January. The report nudged up OPEC’s forecast for world economic growth this year to 2.7% from 2.6% and raised next year’s figure by the same increment to 2.6%, saying growth in the United States, Brazil and Russia had surpassed initial expectations in the first half of 2023. “Despite the latest positive developments, several uncertainties regarding economic growth in the second half of 2023 and 2024 require cautious monitoring,” OPEC said, adding that these include continued high inflation and the prospect of further increases to interest rates.
Nigeria eyes $5bn from outsourcing industry in 2024
The Nigerian Export Promotion Council (NEPC) has said Nigeria targets to earn $5 billion dollars from the outsourcing industry in 2024. NEPC’s Executive Director, Dr Ezra Yakusak said this at the National Conference on International Trade-in-Service organised by the council on Wednesday in Abuja. According to Yakusak, the outsourcing industry has the capacity to boost human capital, drive the economy and bring about emerging technologies. He said that some of the services outsourced are financial, advertising, courier, customer support services, logistics, etc. “In recent years, Nigeria has become an increasingly attractive destination for outsourcing, particularly in areas of call center operations, software development, and back office support. “The country’s high population and relatively low labour cost, favourable time zone, and English proficiency make it an appealing location for business seekers to outsource certain tasks or functions,’’ he said. According to him, Nigeria is moving gradually and focusing more on the export of services because it is an area that has been neglected for a long time. He said it was a sector where we could get high revenue exchange earnings. “It has so much potential but if our services sector is well harnessed we can earn more than the 4 .8 billion dollars we are earning from our products. “We are looking at five billion dollars in 2024,’’ he said. Yakusak said trade in services had emerged as the driving force that shapes the global economic landscape of countries. “In essence, the future of global trade is services,’’ he said. Also speaking, Dr. Evelyn Ngige, Permanent Secretary, Ministry of Industry, Trade and Investments, said that outsourcing, particularly in the field of information technology-enabled services revolutionised the global business landscape. Represented by Mr. Suleiman Audu, Director of Trade in the ministry, Ngige said that the sector transcended geographical boundaries and enabled organisations to leverage expertise. She added that it reduced costs and improved efficiency by tapping into talent pools around the world. “Nigeria, with its immense human capital, has the inherent potential to become a leading player in this transformative industry. “The country boasts of a large pool of educated and skilled professionals, including an English-speaking workforce, which is advantageous for English-language outsourcing services. “Nigeria has seen growth in areas such as call centers, data entry, software development, and content moderation,’’ Ngige said. She said that to harness opportunities presented by outsourcing and ITES, Nigeria must adopt a multi-faceted approach that encompasses several key areas. Ngige emphasised that it was essential to create a competitive location and conducive business environment for the growth of the outsourcing industry. “This involves implementing policies that create a favorable business climate, ensuring ease of doing business, and providing a level playing field for both local and international players. “We must streamline bureaucratic processes, simplify regulatory frameworks, and offer attractive incentives to investors and businesses seeking to establish or expand their operations in Nigeria,” Ngige said.