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FMCT Unlocks NIPOST, Targets 300,000 Jobs

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Ibrahim Mori Baba,PMG, NIPOST
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Ministry of Communication Technology (FMCT) has perfected plans to unlock the Nigeria Postal Service (NIPOST) in order to create 300,000 agents who will drive financial inclusion, amongst other initiatives, according to the FMCT Progress Report on Projects & Programmes Implementation obtained by Nigeria CommunicationsWeek.

The report, said that the ministry, the NIPOST and the Central Bank of Nigeria (CBN), in conjunction with the Infrastructure Concession Regulatory Commission (ICRC) and the Bureau of Public Enterprises (BPE) have embarked on a project that will result in leveraging the postal network to deliver financial services to the people.

The scheme will ensure financial inclusion of under-served areas by banks and people that are traditionally marginalized by such institutions and are considered as living at the “bottom of the pyramid”.

To achieve the aim, the Federal Government through its public-private participation initiative is tinkering on NIPOST composition with the objective to establish a network of over 300,000 agents all across Nigeria.

In the report which covered July 2011 to February 2014, the Ministry disclosed government’s interest to reach the rural dweller, pointing out that postal outlets have relatively good presence in the 774 Local Government Areas and consequently can contribute substantially to bringing financial services nearer to the rural population.

Whilst 32% of Nigerians live or work between five and fifteen minutes of a bank branch, the rest 61% live or work between five to fifteen minutes of a post office.

Speaking to Nigeria CommunicationsWeek on the impact of the 300,000 for “Agent Banking”, Mr. Sola Bickersteth, director, One Network, said that  “In a short while, the public will begin to feel the impact of the scheme, because we would have moved to the streets and begin full scale operations. The scheme will start will 50,000 trained officers to be dispatched to 1,200 NIPOST outlets across the country”.

One Network is an industry-focused organisation, recognised by the Central Bank of Nigeria (CBN) as agent manager, providing agent locations for mobile money operators across the country.

Bickersteth said that “It is just like in Banking; the chief executives are people with impeccable character and grounded in the professional ethics. Agent banking is such a scheme that requires competent people who will make the right decisions.

Financial inclusion in Nigeria, for instance, is still at its low ebb. For instance, in 2012, only 28.6 million out of total of 87.9 million Nigerian adults had access to financial services and most unbanked people live in the rural areas.

One reason stakeholders identified as causative of the plight was unavailability of bank branches to potential customers.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Meta to Begin Layoffs Across All Operations from Today

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Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, is set to implement company-wide layoffs starting Monday, February 10, 2025.

Meta to Begin Layoffs Across All Operations from Today

Notifications will begin at 5 a.m. local time in most countries, including the United States.

However, due to local regulations, employees in Germany, France, Italy, and the Netherlands will be exempt from these cuts.

Staff in over a dozen countries across Europe, Asia, and Africa will receive their notifications between February 11 and February 18.

The layoffs are expected to affect approximately 5% of Meta’s workforce.

They will target the company’s lowest performers in what is termed “performance terminations.”

This move is part of Meta’s broader strategy to streamline operations and focus on key areas of growth.

Concurrently, Meta is expediting the hiring of machine learning engineers and other essential engineering roles.

The hiring process is scheduled to take place between February 11 and March 13, aligning with Meta’s strategic priorities for 2025.

Unlike previous company-wide layoffs, Meta plans to keep its offices open on Monday and will not issue any additional updates regarding the decisions.

The company has declined to comment further on the internal memos detailing these plans


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NEMSA, NAICOM Sign Agreement to Boost Electrical Safety, Insurance

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The Nigerian Electricity Management Services Agency has signed a Memorandum of Understanding with the National Insurance Commission to enhance electrical safety compliance in residential, commercial, and industrial buildings, as well as ensure adherence to insurance policy requirements for these structures.

A statement issued by Ama Umoren, NEMSA’s Head of Communications and Protocol Unit, on Sunday in Abuja, stated that the MoU establishes a collaborative framework between NEMSA and NAICOM to ensure that as a pre-condition, all electrical installations in residential, commercial, industrial premises, hazardous locations, industries and factories are duly certified by NEMSA before the Insurance Policy is processed by all Insurance Companies.

It stated further that the partnership between NEMSA and NAICOM aligned with the Federal Government’s commitment to strengthening the reliability and safety of Nigeria’s electricity sector.

The NEMSA’s Managing Director/Chief Executive Officer, Engr. Aliyu Tukur Tahir, while speaking during the signing ceremony, emphasised the importance of this collaboration in mitigating risks associated with electrical accidents and infrastructure failures.

“This partnership with NAICOM is a significant step towards ensuring that all electricity consumers, operators, and investors adhere to the highest safety and risk management standards.

”By integrating insurance compliance into electrical safety enforcement, we are safeguarding lives, investments, and the overall integrity of the power sector,” he stated.

Tukur, who is also the Chief Electrical Inspector of the Federation, said going forward, ‘’It will also be a requirement by NEMSA that all Facility Applicants of its statutory inspection, testing and certification, should ensure that their Facilities are insured with Insurance Companies, for safety and mitigation of risk.”

On his part, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Olusegun Omosehin, reiterated NAICOM’s commitment to ensuring that all power sector players embrace insurance as a critical risk management tool.

“Insurance plays a crucial role in cushioning the effects of electrical hazards and infrastructure-related incidents. Through this MoU, we will work closely with NEMSA to enforce compliance with relevant insurance policies, ensuring that the power sector operates with adequate risk mitigation mechanisms in place,” he said.

The collaboration will involve joint awareness campaigns, regulatory enforcement, and information-sharing initiatives to promote electrical safety and insurance adoption across the power sector.

This strategic partnership marks a milestone in the drive to enhance safety, reliability, and sustainability within Nigeria’s electricity industry and the country at large.


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IFC Invests in Lagos Free Zone to Support Industrial Growth and Economic Diversification

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IFC has announced an equity investment of up to $50 million in Lagos Free Zone Company to support the development and expansion of Nigeria’s first deep-sea port-based, private special economic zone, the Lagos Free Zone.

This investment is designed to address critical infrastructure gaps, attract local and global businesses, and contribute to Nigeria’s economic diversification agenda.

The funds will support the first phase of the 860-hectare Lagos Free Zone, focusing on land development, industrial facilities, and logistics infrastructure.

Owned by Singapore based Tolaram,a diversified multinational group with operations across Africa, Asia, and Europe, Lagos Free Zone strategically integrated with the Lekki Deep Sea Port and will provide an integrated industrial ecosystem for efficient import and export operations, serving as a gateway for Nigeria’s integration into global value chains.

With Nigeria’s economy projected to grow by 3.7% by 2026, investments in infrastructure are vital to ensuring sustainable growth. When fully occupied, Lagos Free Zone is expected to create approximately 30,000 direct, indirect, and induced jobs, while contributing significantly to Nigeria’s GDP upon completion.

“This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria. Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets.

“We are proud to partner with Lagos Free Zone  in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.” said, Dahlia Khalifa, IFC Regional Director, Central Africa and Anglophone West Africa.

The investment in Lagos Free Zone also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure. Approximately 15% of the investment is earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)-certified buildings and climate-resilient infrastructure.

“IFC’s support represents a significant and positive recognition of our vision to establish  Lagos Free Zone as a world-class industrial hub. This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria.

“Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria’s drive for economic diversification and infrastructure development.

“We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC”. Added, Adesuwa Ladoja, MD/CEO at Lagos Free Zone Company

Lagos Free Zone is already home to several manufacturing brands like Kellogg’s, Dano Milk, Colgate, BASF, ADM, and Tata International.

This investment aligns with Nigeria’s ongoing economic reforms and IFC’s strategic frameworks, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both of which prioritize economic diversification, the development of competitive clusters, and investments in climate-resilient infrastructure.

By addressing infrastructure bottlenecks and enhancing connectivity, IFC’s investment in Lagos Free Zone will unlock new opportunities for businesses and strengthen Nigeria’s position as a regional economic leader.


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