Yuguda Tasks Private Sector On Infrastructure Funding

Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda has tasked the private sector to rise up to the challenge of sourcing long term financing from the capital market that would fund the provision of infrastructure in the West African Sub region. Yuguda stated this at a pre-event press briefing on the forthcoming West Africa Capital Market Conference scheduled to hold in Lagos October 25-26 with the theme ‘Infrastructural deficit and sustainable financing in an integrated West Africa Capital Market’. According to Yuguda, “Infrastructure deficit refers to a situation where there is insufficient infrastructure relative to the needs of the population. Availability of infrastructure, such as power, telecommunications, roads, rail, schools, hospitals, shopping malls, hotels etc. is crucial to raising the living standards of the people”. He disclosed that in many countries, the responsibility for the provision of infrastructure has been steadily moving away from government to the private sector owing to increasing demand and reduced ability of the government to fund infrastructure alone, adding that the need to tackle the infrastructure deficit in the sub-region as well as embrace principles of sustainable finance to promote economic development are some of the issues to be discussed as the conference. The conference is being jointly organised by the  West Africa Securities Regulators Association (WASRA) comprising  the Securities and Exchange Commission (SEC) Nigeria, the Securities and Exchange Commission (SEC) Ghana, and Autorite de Marche’s Financiers or AMF-UMOA, in collaboration with Economic Community of West African States (ECOWAS), the West Africa Capital Market Integration Council (WACMIC), and the West African Monetary Institute (WAMI) are jointly organizing the 3rd biennial West Africa Capital Market Conference (WACMaC) 2023. The SEC boss said, “This deficit also poses a significant challenge to the region’s sustainable development. To address this gap, there is a growing need to adopt innovative financing mechanisms, and sustainable financing options to mobilize the desired funds to meet the region’s critical infrastructure needs, foster economic growth, and achieve sustainable development goals.  “The Conference will bring together a distinguished array of experts, regulators, policymakers, and industry leaders who will share their insights, experiences, and strategies to proffer solutions to the region’s massive infrastructure deficit. The WACMaC 2023 provides a unique platform to engage in meaningful discussions, share insights, and forge partnerships that will help shape the future of our capital markets. The DG added that this year’s conference is particularly significant, as over 300 stakeholders will converge at the Eko Hotels and Suites, Lagos from October 25-26, 2023 to hold discussions around the general theme with a view to contributing significantly to infrastructural development in Nigeria.

Subsidy: CIEPUK offers varsity scholarships to public, private sector workers’ wards

The Chartered Institute of Educational Practitioners, United Kingdom (CIEPUK) on Monday said it was set to offer university scholarship to the wards of both public and private sector workers across the country. CIEPUK had earlier revealed that it was partnering several institutions and the National Association of Private School Proprietors’ (NAPSP) to award scholarship to outstanding students in the just concluded 2023 JAMB/UTME examinations. Prof. Marcel Ezenwoye, the National President of CIEPUK, however said that the Institute had decided to extend its scholarship programme to students whose parents were either working for government or in the private sector. He said the gesture was a way of helping the workers cushion the effect of the fuel subsidy regime being introduced by President Bola Tinubu’s administration. He explained that CIEPUK was partnering several universities both within and outside the country to offer 50 percent scholarship to these children of civil servants and private sector workers in the country. Ezenwoye noted that the 50 percent scholarship would cover part of the student’s tuition, hostel and other fees throughout their four-year period in which they are expected to study in the university of their choice. He added that the 50 percent scholarship to any university of their choice, would cover both JAMB/UTME students who did very well and other students with lower scores, provided they apply between now and Aug. 30. “In line with the Federal Government’s policies on inclusive, affordable and accessible education under the able watch of President Bola Tinubu and his Vice Kashim Shettima. “Our goal is to lighten the burden of these government/private sector workers and the strain on their finances occasioned by the fuel subsidy regime. “So that for a semester, they pay N60,000 as tuition fees, N30,000 for hostel and N5,000 as medical fees for their wards. “CIEPUK has therefore decided to allocate 20 scholarship slots each to staff of the various ministries, government institutions, parastatals, agencies as well as private organisations across the country. “Interested staff with eligible wards are advised to apply through their various ministries and private organisations as CIEPUK would deal directly and officially with the management of the organisations for a seamless and well-coordinated exercise. “The beneficiaries would access categorised scholarship to enable them study the course of their choice in any of our collaborating public and private Universities and polytechnics in Nigeria and overseas, for 2023/2024 academic session. “The list of tertiary institutions involved in the scholarship programme include; Hipdet University, Cameroon, Gideon Robert University, Lusaka, Zambia, St. Monica University, Cameroon, Paul University, Awka, Tansian University, Umunya Anambra State and Maduka University, Enugu State. “Others are Covenant Polytechnic, Owerri, Temple Gate Polytechnic, Aba and Dorben Polytechnic, Abuja,” he said. “Admission forms are already on sale and first scholarship/admission screening interview holds on August 30th, 2023 at the Old Registrar’s office, Paul University, Awka or CIEPUK Head Office, Abuja at 12 noon prompt. “You can go to our website www.ciepuk.org.uk to confirm the courses we offer as well as call 08069030670, 07030808907 or visit Ciepuk Educators House (Head Office), 39A First Avenue, Gwarimpa, Abuja for more information,” he said. He noted that government ministry, parastatal and private organisation would receive an award letter for the 20 university scholarship slots to enable them compile the list of their nominees within the next seven days. He urged the various ministries and private organisations who do not receive their award letters within the next seven days not to hesitate to call or visit the CIEPUK headquarters for prompt response. NAN