News
FG Employs 1,000 English, Maths Teachers
Federal government has granted approval for the immediate employment of about 1, 000 teachers of Mathematics and English Language towards addressing the shortage of teachers in these critical subjects, Chief Ezenwo Nyesom Wike, minister of State for Education, has said.
The minister dropped the hint at the National Mathematical Centre, Sheda, Abuja while declaring open the ‘Batch One’ of a two-week capacity building workshop for Mathematics and English Language teachers in Federal Unity Colleges.
Wike warned the 144 participants of the workshop to justify government’s financial commitment to the project and directed the workshop facilitators to conduct an evaluation test at the end of the exercise which would serve as guide for the government as to who is fit to be retained as teachers in these subjects.
According to him, it would not be business as usual for both principals and teachers in Federal Unity Colleges, stressing that sentiments would not be entertained from any quarter in terms of posting and transfers in the colleges.
He maintained that the colleges must uphold their role as standard bearers for secondary education in Nigeria in line with the transformation agenda of President Goodluck Jonathan’s administration.
Dr Mac John Nwaobiala, permanent secretary, Federal Ministry of Education, attributed the appalling performance of students in Mathematics and English Language partly to poor teaching methods; hence he described the workshop as a step in the right direction.
D. C. Uwaezuoke, director of Basic Education in the ministry, commended the minister for his trailblazing role in reintroducing training programmes for teachers, quoting some of the participants as saying that they never received such training in the last 15 years.
EFCC
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.
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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