News
NIPC to Assist States Stimulate Investment
Nigerian Investment Promotion Commission (NIPC), said it would assist states to stimulate both foreign and domestic direct investments to enable them realize their full economic potentials.
Mrs Saratu Umar, executive secretary to the commission stated this in Abuja during a courtesy visit by Chief Moses Adeyemo, deputy governor of Oyo State.
The visit of the deputy governor was part of measures to ensure the development of the state into one of the top investment destinations in Nigeria.
Umar, commended the state for the move adding that the development was coming at a time when the country is witnessing an increase in foreign direct investment inflow owing to the reforms by the federal government.
She said in collaboration with the commission, six states-Ogun, Bayelsa, Delta, Cross Rivers, Niger and Rivers have successfully established their Investment Promotion Agencies.
She said the establishment of the IPAs would help build synergy between the states and the NIPC as well as assist in solving some of the challenges faced by investors when starting and doing businesses in the country.
She said, “I would like to invite the Oyo state government to take full advantage of NIPC’s services for greater synergy and improvement of its investment drive.
“With solid minerals deposit such as marble, gold and granite, the full potential of which, are yet to be exploited, active collaboration with both local and foreign investors would ensure full exploitation of these resources for the rapid socio-economic development of the state.”
She expressed optimism that the state can build on these advantages to enable it compete more favorably for FDI while stimulating more domestic investment that will create more jobs and ensure inclusive growth.
Also speaking, the deputy governor said state is blessed with a lot of resources that could enable it attract investors.
He said since investment is one of the vital ingredients for the growth and development of any nation, the state has put in place the right policies to protect investors.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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