Month: April 2024

Mr Joshua Yari, Component Lead, Enabling Environment Nigerian Energy Support Programme (NESP), says Nigeria has invested 48 million Euros in the second phase of its Energy Support Programme.

Yari said this on Wednesday at a one-day Energy Summit, organised by Energy Commission of Nigeria (ECN) in collaboration with Abloom Trust Nigeria Ltd in Abuja.

The News Agency of Nigeria (NAN) reports that the theme of the summit is titled: ‘Prospects of Energy Transition Plan”.

Yari said that the programme was co-funded by the European Union of the German Federal Ministry for Economic, Corporation and Development.

He said that the Nigerian government would be investing about 19 million Euros in the third phase of the NESP.

‘The World Bank with the Nigerian Electrification Programme is bringing in 750 million dollars to support the Nigerian government in terms of integration of renewable energy and energy efficiency, especially in the rural areas”, he said.

He said the energy transition plan had five focal areas,
adding that one of them was to create an enabling environment to support and foster investments within Nigeria.

‘This means that one key aspect of improving investments is partnerships between governments, private sector and the international development community

‘This administration has been clamouring for partnerships, especially the inclusion of the private sector in terms of investment.

‘We hope to see the private sector come in to play a key role in implementing the focal areas of the Energy Transition Plan,” he said.

In his remarks, Director-General, ECN, Dr Mustapha Abdullahi, said collaborating with stakeholders was crucial to achieving goals of energy transition in the country.

Abdullahi said collaboration would provide the avenue for robust discussions, knowledge sharing, and formulation of actionable policy recommendations to guide the country’s energy transition journey.

He said Nigeria must address challenges such as investment barriers, grid integration issues, robust policy frameworks a
nd some hurdles of energy transition goals.

The director-general added that some of the solutions included innovative policy measures, regulatory reforms, and investments in grid modernisation to address the challenges and pave way for a sustainable energy transition.

‘It is imperative that we come together to explore opportunities and address these challenges.

‘Energy transition is not merely a buzzword. It is a fundamental shift in our approach to energy production and consumption.

‘I am confident that your insights and contributions at this summit will inspire us into exploring innovative solutions, sustainable, and resilient energy future for our nation, he said.

Also, Mr Ogbugo Ukoha, Executive-Director, Nigerian Mainstream and Downstream Petroleum Regulatory Authority, said the impact of the environment was promising as Nigeria migrated from heavy consumption of petrol, and optimising gas utilisation in the country.

‘We extend our collaboration and hands of fellowship and look forward to paving a
pathway to the development that we are all looking forward to’, he said.

Source: News Agency of Nigeria

The Permanent Secretary, Ministry of Defence, Dr Ibrahim Kana, on Wednesday inaugurated a 10-member committee to review the proposed Veterans Federation of Nigeria Bill.

The News Agency of Nigeria (NAN) reports that the committee’s primary objective is to propose necessary amendments to the bill that is expected replace the Nigerian Legion Act, Cap N119 Laws of the Federation, 2004.

The committee is also expected to deliberate and consult widely to ensure that the proposed Veterans Federation of Nigeria Bill adequately addressed the pressing issues facing Nigerian veterans.

Addressing the committee shortly after the inauguration at the Defence headquarters, Kana charged members to diligently review the proposed bill.

He also charged them to proffer immediate solutions to enhance the welfare and livelihoods of Nigerian veterans.

He emphasised the need to ensure that the proposed legislation aligns with the evolving needs and aspirations of nation’s esteemed veterans.

‘Our veterans have selflessly served
our nation with honour and distinction. It is imperative that we prioritise their well-being and address their concerns through effective legislation.

‘I urge the committee members to work tirelessly towards developing a comprehensive bill that will significantly improve the lives of our veterans,’ Kana said.

NAN reports that the permanent secretary of the ministry will serve as the chairman of the committee, while Dr Jude Alozie, Director, Veteran Affairs Department, will serve the secretary.

Retired Maj.- Gen. A.M. Jibril, National Chairman, Nigerian Legion and Mrs Olu Mustapha, Director Joint Services Department, Ministry of Defence, are among those that were present at the inauguration.

Source: News Agency of Nigeria

President Bola Tinubu on Wednesday in Abuja signed the Students Loan Bill into law.

The News Agency of Nigeria (NAN) reports that the students loan is part of the implementation of the Access to Higher Education Act, 2023.

The Act, popularly known as the Students Loan Bill seeks to provide loans for indigent Nigerian students to pay fees in Nigerian tertiary institutions.

At the signing, Tinubu commended the efforts of the members of the National Assembly for the expeditious handling of the bill.

He said that this action showed the administration’s priority towards encouraging education among Nigerian youths as a tool to fighting poverty.

‘We are determined to ensure that education is given the proper attention necessary for the country including skills development programmes.

‘This is to ensure that no one, no matter how poor their background, is excluded from quality education and opportunity to build their future.

‘We are here because we are all educated and we are helped. In the past, we have seen
a lot of our children dropped out of colleges and given up the opportunity,’ he said.

Tinubu said that the loan would ensure that the standard and control of the scheme are applied without discrimination against a Nigerian citizen.

The act establishes the Nigerian Education Loan Fund which is expected to handle all loan requests, grants, disbursement and recovery of the loans provided.

The act establishes the Nigerian Education Loan Fund (NELFUND) which is expected to handle all loan requests, grants, disbursement and recovery of the loans provided.

NELFUND, according to the Act, is to be funded from multiple streams and will engage in other productive activities.

Its sources of funding as dictated by the Act include; one per cent of all profits accruing to the federal government from oil and other minerals.

It also include one per cent of taxes, levies and duties accruing to the federal government from the Federal Inland Revenue Service (FIRS), Nigeria Immigration Service (NIS) and Nigerian Customs Ser
vice (NCS); education bonds and education endowment fund schemes.

The Loan will also be funded through donations, gifts, grants, endowment and revenue accruing to the fund from any other source, according to the Act.

Source: News Agency of Nigeria

President Bola Tinubu on Wednesday in Abuja signed the Students Loan Bill into law.

The News Agency of Nigeria (NAN) reports that the students loan is part of the implementation of the Access to Higher Education Act, 2023.

The Act, popularly known as the Students Loan Bill seeks to provide loans for indigent Nigerian students to pay fees in Nigerian tertiary institutions.

At the signing, Tinubu commended the efforts of the members of the National Assembly for the expeditious handling of the bill.

He said that this action showed the administration’s priority towards encouraging education among Nigerian youths as a tool to fighting poverty.

‘We are determined to ensure that education is given the proper attention necessary for the country including skills development programmes.

‘This is to ensure that no one, no matter how poor their background, is excluded from quality education and opportunity to build their future.

‘We are here because we are all educated and we are helped. In the past, we have seen
a lot of our children dropped out of colleges and given up the opportunity,’ he said.

Tinubu said that the loan would ensure that the standard and control of the scheme are applied without discrimination against a Nigerian citizen.

The act establishes the Nigerian Education Loan Fund which is expected to handle all loan requests, grants, disbursement and recovery of the loans provided.

The act establishes the Nigerian Education Loan Fund (NELFUND) which is expected to handle all loan requests, grants, disbursement and recovery of the loans provided.

NELFUND, according to the Act, is to be funded from multiple streams and will engage in other productive activities.

Its sources of funding as dictated by the Act include; one per cent of all profits accruing to the federal government from oil and other minerals.

It also include one per cent of taxes, levies and duties accruing to the federal government from the Federal Inland Revenue Service (FIRS), Nigeria Immigration Service (NIS) and Nigerian Customs Ser
vice (NCS); education bonds and education endowment fund schemes.

The Loan will also be funded through donations, gifts, grants, endowment and revenue accruing to the fund from any other source, according to the Act.

Source: News Agency of Nigeria

President of the Nigeria Labour Congress (NLC), Mr Joe Ajaero, has urged the Federal Government to make retirement easy for Nigerian workers, especially now that the country is facing economic challenges.

Ajaero made the plea on Wednesday when he received a delegation from the XEM Consulting Limited, a subsidiary of XEM Group, organisers of the maiden Pre-retirement Summit, scheduled to hold in Abuja, from April 24 to April 25.

The visiting team was led by Dr Eugenia Ndukwe, the Chief Executive Officer (CEO) of XEM Group.

Ajaero said that a lot had been said about contributory pension without significant improvement from the regulators.

‘Majority of the states have not started keying in, and one begins to wonder the essence of enacting a law.

‘Even when the law criminalised none participation, no state has been prosecuted, fined or levied,’ he said.

Ajaero regretted that pension matters in the country was becoming more of rhetorics rather than action.

He, therefore, urged the federal and state governme
nts to take seriously the issue of workers pension and ensure they enjoy life after retirement.

‘Government in this business is not just employers of labour, they are regulators, and if regulators are not doing anything, then there is problem.

‘We are the main victims; even when people retire, the Pension Fund Administrators (PFAs) find it difficult to pay them, thereby making it a difficult long journey to access their money,’ Ajaero added.

Speaking earlier during the visit, Ndukwe who is also a business development expert, said there would be opportunity at the summit to train prospective retirees on various skills, before they retire.

She said the summit was carefully planned to examine the retirement policies in the country, the challenges faced by prospective retirees and proffer a solution to it before they retire.

Ndukwe also said that experts from China, Canada and some European countries would be attending the summit to give their country’s perspective on pension reforms.

This, she said would b
e to find solutions to the challenges faced by retirees in Nigeria.

‘We are bringing global participants to tell us what is happening in their countries, so that we will know how to utilise their own case study. Dr Folashade Yemi-Esan, Head of Service of the Federation, will be the keynote speaker.

‘Lagos State Governor, Babajide Sanwo-Olu will be in attendance during the panel session to represent all the state governors, while Mr Adewale Tinubu, the Group Chief Executive Officer of Oando, will be representing the private sector.

‘We will also have the MD of Smart Meters Malam Ibrahim Babagana will also participate in the panel session.

‘The second phase of the programme will be the technical session where participants will be taken through knowledge and skill acquisition that will help them prepare for retirement.

‘They will know how best to invest their money, the kind of businesses they can venture into after retirement and what decision they can make with the little money they have available.

‘The
third phase of the programme is the award. We want to recognise very few states, individuals, public servants who have contributed immensely to the reforms currently taking place around pension matters,’ Ndukwe said.

According to her, there will be experts presentations by Prof. Du Pang, Director, Institute of Gerontology, China, and Mr Tajudeen Afolabi, Pioneer DG of PENCOM.

She added that the summit was open for government, private and public sector workers as well as financial institutions, labour unions, pension fund administrators and civil society organisations.

The summit will also feature technical sessions, networking sessions and awards in recognition of the contributions of institutions and individuals promoting the welfare of retirees in the country.

Source: News Agency of Nigeria

WINDHOEK: Inadequate funding of pre-primary education has set barriers to Namibia achieving quality-learning outcomes, with only 3 per cent of the education budget geared towards early grade education during the 2023/24 financial year.

This is according to Ministry of Education, Arts and Culture Executive Director (ED) Sanet Steenkamp, who in an interview with Nampa said education spending in Namibia is centred on primary and secondary education, with 3 per cent of its funding going to pre-primary education.

This sets barriers to achieving quality-learning outcomes at the later years in the education system, she said.

Steenkamp explained the allocation increased gradually from a mere 1.7 per cent in 2018/19 to 3 per cent in 2023/24 and further increased with 1 per cent to 4 per cent in the 2024/25 financial year. The aim is to gradually increase funding to foundation learning over the Medium Term Expenditure Framework (MTEF) period – to reach a 10 per cent share of the education budget for pre-primary educ
ation.

She noted that during the 2023/24 financial year the education development budget accounted for 5 per cent of N.dollars 788 369 970, while 16 per cent of N.dollars 2.8 billion (N.dollars 2 812 900 000) was geared towards other expenditure including learning materials.

A total 79 per cent amounting to N.dollars 13 billion (N.dollars 13 308 561 000) went towards personnel expenditure.

‘Government’s commitment towards the education of the Namibian child is unquestionably visible in that the largest share of the national budget, 21.85 per cent goes to education. The ministry budget consultations with the Ministry of Finance continue to motivate for more funding, especially towards the funding of the National Conference on Education recommendations,’ Steenkamp said.

She further indicated that the ministry has received funding from the European Union (EU) of N.dollars 100 million (N.dollars 101 617 807) / (5 million Euro) towards the construction of pre-primary classrooms, early childhood development (EC
D) centres as well as the provision of maize meal blend under the school feeding programme, to be implemented during the 2024/25 financial year.

Source: The Namibia Press Agency