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FG to Set up ICT Dev Bank to Fund Industry

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Mr. Adebayo Shittu, Minister of Communications, has stated that plans are underway by the Federal Government to set up an ICT Development Bank that will provide funding for the industry inoder to promote and encourage young entrepreneurs in Information Communication Technology ICT,.

The minister disclosed this in Yenagoa, Bayelsa State, weekend, during the launch of the Bayelsa Ecosystem and Ignition Week, organised by the Young Innovators of Nigeria in collaboration with the Bayelsa State Government. Represented by the former Director of  National Information Technology Development Agency, NITDA, Mr. Peter Jack, the minister noted that the ICT Bank will among other services, reduced the dependence on commercial banks for funding and also offer lower interest rates and grow the ICT industry.

He hinted that in pursuant of the ministry’s mandate of leveraging ICT in its entire ramifications and in order to promote local manpower of ICT sector, the ministry was implementing as part of the 2017 budget, incubation hubs across the six geopolitical zones in the country so as to boost empowerment and growth in the sector. He said:

“The ministry is also thinking of promoting the establishment of the ICT development bank just like the Bank of Agriculture and Bank of Industry so as to promote and assist the immediate funding of the ICT industry instead of depending on commercial banks which have high interest rates.

“The current administration at the federal level has been conscious of the role of ICT and has, therefore, been committed over the last three years to ensuring that ICT facilities and services are expanded rapidly across the country.

We are working round the clock to ensure that very soon the broadband penetration in the country would have risen above 20 percent. Let me also state here that the achievement of 30 percent growth in broadband by the end of 2018 is sacrosanct.”


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FG, World Bank Plans 3.5m Electricity Meters Roll out

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The Federal Government Monday, said it has had discussions with the World Bank on plans to roll out 3.5 million electricity meters to support the Nigerian Electricity Supply Industry, NESI.

A statement by the Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga said the government at a meeting with a delegation from the World Bank reaffirmed its commitment to driving economic growth and development through a strategic partnership with the World Bank to boost power sector investment.

At the meeting with World Bank delegates, led by Dr. Ndiamé Diop, Country Director for Nigeria, and Ms. Olu Verheijen, Special Adviser to the President on Energy, in Abuja, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, reaffirmed President Bola Ahmed Tinubu Administration’s commitment to repositioning the economy for the future of Nigeria.

“In its renewed determination to drive economic growth and development in the country, the Federal Government has continued to engage with relevant stakeholders with a view to boosting power sector investment as a major priority area for achieving the desired objective”, the statement added.

He stated that the meeting was held to discuss innovative ways to drive Nigeria’s power sector forward

Edun informed that the meeting focused on World Bank-supported initiatives, including the Power Sector Recovery Operation, PSRO, and the Distribution Sector Recovery Programme, DISREP, aimed at improving power distribution and management systems in order to ensure economic growth and development in the nation.

The Ministry listed key highlights from the meeting to include: Plans to roll out 3.5 million meters to enhance power distribution; $50 million funding for state solar plant pilots and infrastructure upgrades; Measures to support tariff frameworks, market reforms, and co-financing the Transmission Company of Nigeria’s Performance Improvement Plan.

The government said the collaboration “aims at strengthening Nigeria’s power sector, enhancing energy access, promoting economic growth and development, improving job creation as well as poverty alleviation in line with the Renewed Hope Agenda of the present administration”.


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Police Suspends eMotor Registry Enforcement Following Outcries

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Kayode Egbetokun, inspector general of police, has announced the suspension of the the enforcement of electronic central motor registry registration otherwise e-CMR for vehicle owners in the country.

Police Suspends eMotor Registry Enforcement Following Outcries

Muyiwa Adejobi, force spokesperson, had on Saturday said the IG ordered that the enforcement of the e-CMR should commence on July 29.

The enforcement order sparked an outcry from Nigerians, who accused the police of creating an opportunity to extort vehicle owners.

John Aikpokpo-Martins, chairman of the Nigerian Bar Association (NBA) Section on Public Interest and Development Law, said the directive by Egbetokun to begin enforcing the digitised Central Motor Registry was a blatant disregard for the rule of law.

But in a statement on Sunday, Adejobi announced that the IG has suspended the enforcement of the e-CMR.

He added that there was the need to sensitise the citizens on the initiative, which he said was designed to secure vehicles.

He said, “Following the reconfiguration and commencement of the electronic central motor registry registration process the Police have deemed it necessary to highlight the benefits and effectiveness of the e-CMR initiative which is designed to ensure the safety and security of all types of vehicles including motorcycles by collating data imputed into the system by vehicle owners and acting on such to flag the vehicles if reported stolen.

“The e-CMR will provide a firsthand database to the Force for curbing vehicular crimes as dedicated officers can access real-time comprehensive data of every vehicle on their tablets.

“Similarly, the e-CMR will prevent multiple registrations of vehicles and serve as a database to collate biometric and other data of vehicle owners and individuals, adding value to the national database and incident report portal generated from other Ministries, Departments and Agencies towards general security.”

Adejobi denied that the e-CMR was a revenue-generating platform.

He said, “Furthermore, contrary to news making the rounds and insinuations about the e-CMR, the NPF wishes to state categorically that the e-CMR is not a revenue-generating platform but an initiative to digitalize policing for effectiveness and general safety of lives and property of Nigeria residents. “

Adejobi said the IG ordered the immediate suspension he had earlier given.

He stated, “The Inspector-General of Police, IGP Kayode Egbetokun has ordered an immediate suspension of the proposed enforcement of the e-CMR initially scheduled to commence on the 29th of July, 2024. This is to give ample opportunity for mass enlightenment and education of all citizens and residents on the process, benefits and effectiveness in solving the challenge of vehicle-related crimes, and protection of individual and corporate vehicle ownership.”

Adejobi sought the understanding of the citizens and key into the initiative.


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Osagie Okunbor, Shell Nigeria MD Honoured for Exemplary Leadership

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Osagie Okunbor, managing director, Shell Petroleum Development Company of Nigeria Limited, and country chair, Shell Companies in Nigeria, has been recognised for his “Invaluable contributions to the  Nigerian energy sector and his service to humanity.”

Osagie Okunbor, Shell Nigeria MD Honoured for Exemplary Leadership

Former Deputy Governor, Central Bank of Nigeria, and Director, Heritage for Life Foundation, Tunde Lemo (left), presenting the Foundation’s  Award for Exemplary Leadership and Service to Humanity to the Managing Director, Shell Petroleum Development Company and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, at a ceremony in Lagos on Thursday.

Osagie received the Award for Exemplary Leadership and Service to Humanity from a Lagos-based NGO, Heritage for Life Foundation, at a ceremony held in Lagos.

Tunde Lemo, director of the Foundation, and former deputy governor, Central Bank of Nigeria (CBN), handed out the award which he said was instituted to promote “moral qualities and attitudes pivotal to the growth of a stable and functional society” by recognising individuals who exbibit the virtues.

An elated Okunbor said: “I’m pleased at this recognition which calls for greater commitment to the highest standards of leadership and service to humanity. With the support of my colleagues and other stakeholders, I hope to continue to  contribute to the development of our country.”

The award from the foundation was the second bestowed on the longest serving Country Chair of Shell companies in Nigeria in the past month.

At the 60th anniversary of the Nigerian Institute of Public Relations (NIPR), Okunbor was conferred with the Diamond Ambassador of Brand Nigeria as part of NIPR’s Diamond Jubilee National Awards.

Presenting the award, Dr. Ike Neliaku, president and chairman of Council, NIPR noted that Okunbor earned the award having demonstrated exceptional leadership as Chairman of the largest energy company in Nigeria that had made significant contributions to the socio-economic development of Nigeria in more than seven decades.

Okunbor’s contributions to the energy sector are the highlights of a career in Shell which has seen him serve in Nigeria, the UK, Brunei and the Netherlands before his appointment as Managing Director, SPDC and Country Chair in 2015.

In May, the executive council of the Nigerian Gas Association recognised Okunbor for “outstanding contributions towards the advancement of Nigeria’s gas sector.”

 

 

 

 

 


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