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World Post Day: Postmaster-General Assures of Readiness for Big Role in Growth of Digital Economy

Dr. Ismail Adewusi, the Postmaster General of the Federation, has said that the Nigerian Postal Services (NIPOST), has fully embraced the digital economy agenda of the Muhammadu Buhari administration.

The Postmaster General said NIPOST is fast adopting technology in its service delivery as part of the targets of delivering on its core objectives as a service organization operating within the technology-driven economic environment.
In a statement issued by NIPOST Spokesperson Mr Franklin Alao on Friday, Adewusi restated his commitment towards using technology to transform the organization and better its service delivery, in line with the President Muhammadu Buhari led government policy to unbundle NIPOST.
He also applauded the Minister’ efforts in driving the change.
According to the NIPOST boss, the theme for this year’s celebration “Innovate to Recover” reflects the devastating effect of Covid-19 pandemic which disrupted the operations of the postal services globally.
The NIPOST CEO assured that actions are being undertaken to guarantee a quicker recovery from the effects of the pandemic as regards to the operations of the organization.
The statement quoted him as saying, “The global post has this year focused on ways and means of harnessing a better World with improving living standards for humanity after recovering from the clutches of the pandemic.
“It is an established fact that the post is a fundamental instrument to equality of all citizens. The Post Offices creates free entry and businesses to all ages, class, races and religion.”
He explained that NIPOST has great roles to play in the realization of Nigeria’s digital economy. And “It has become expeditious for us to operate at the same level wavelength with other internationally recognised service delivery companies.”
He noted that NIPOST has diversified its services with the aid of information communication technology in order to serve its customers better and to improve revenue generation.
The statement added, “With many postal administrations diversifying and expanding their operations to move sales of their products and services beyond borders, postal services are inventing new means and methods to satisfy the customers.”
As part of the activities to celebrate World Post Day, Adewusi announced three winners of the UPU Letter Writing Competition for people under age 15.
An 11-year old male student, Aranbada Oluwadamilare Caleb of God Lead Private School, Badagry, Lagos State, emerged the first position while a 15-year old female student, Abduljabar Shakirah Omosalewa of Islamic College, Osogbo, in Osun State went home with the Second position.
Also, a 13-year old male student, David Uchenna Andrew of Nobles International School, Ahan Offot, Uyo, Akwa Ibom, came third in the competition.
As part of activities to mark the day across the country, Customers’ Forum will be held with NIPOST stakeholders and customers among others.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
News
Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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