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NON-OIL EXPORTS KEY TO NIGERIA’S ECONOMIC REJUVENATION, SAY STAKEHOLDERS AT ZENITH BANK INTERNATIONAL TRADE SEMINAR

R – L : Group Managing Director/CEO, Zenith Bank Plc, Mr. Ebenezer Onyeagwu; Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele; President & Chief Executive of Dangote Group, Alhaji Aliko Dangote; Founder and Chairman of Zenith Bank, Mr. Jim Ovia; former Chief Executive/Executive Director of the Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo; and Managing Director/CEO, Bank of Industry, Mr. Olukayode Pitan at the 2022 Zenith Bank International Trade Seminar held at the Civic Centre Lagos, yesterday.

Stakeholders unanimously called for support of Nigeria’s Non-Oil Export Sector at the 7th Annual Edition of the Zenith Bank International Trade Seminar themed “Unlocking Opportunities in Nigeria’s Non-Oil Export Business”, which was held on Wednesday, July 20, 2022, at the Civic Centre, Victoria Island, Lagos and virtually.

In his Goodwill Message Presentation, the Founder and Chairman of Zenith Bank Plc, Mr. Jim Ovia, CON, called for a concerted effort towards diversifying Nigeria’s export base through the promotion of non-oil exports. Highlighting the importance of non-oil export to the nation’s economy, Ovia pointed out that Nigeria exported cocoa and several other non-oil products for years before oil was discovered. He cited the example of the 25-storey Cocoa House in Ibadan, which was built with proceeds from cocoa exports. He pointed out that many countries in the world, such as Japan and China been successful because they are doing a great deal of innovation, production and manufacturing of goods and services. According to him, we should also look at promoting the nation’s non-oil export sector through technology to create technological giants like Apple, Tesla, and Google. And we already have technology companies in this mould in Nigeria, such as Flutterwave, which has a valuation of $3 billion, making it more valuable than some banks in Nigeria. Speaking further on the enormous potential in Nigeria’s non-oil sector, Ovia highlighted the phenomenal growth of Nigeria’s emerging financial technology (Fintech) companies such as Flutherwave, OPay, Interswitch, Kuda and Paystack, with market valuations of $3 billion, $2 billion, $1 billion, $500 million, $200 million, respectively. According to him, this underscores the enormous opportunity in the Fintech space. He also noted that the most capitalized companies in the world, such as Apple, Microsoft, Alphabet (Google), Amazon, Tesla, Visa, etc., are not oil companies but are in the technological innovation space.

In his welcome address, the Group Managing Director/CEO of Zenith Bank, Mr. Ebenezer Onyeagwu, said that the annual Zenith Bank Trade Seminar has served as a veritable platform to deepen the conversation on promoting non-oil export in Nigeria, bringing together non-oil export practitioners and relevant government agencies to interact and explore the opportunities and proffer solutions to the challenges of non-oil export in the country. Speaking on the origin of the Zenith Bank Annual International Trade Seminar, Onyeagwu said that the commodity price slump of 2014-2016 was a watershed moment. According to him, “when crude oil prices plummeted from $114.55 per barrel in June 2014 to $28.76 in January 2016, with an attendant effect on the availability of foreign exchange, it was time to look towards the non-oil export sector for a more sustainable source of foreign exchange that is not susceptible to external shocks and price volatility.

Highlighting some of the salient outcomes of the past six Zenith Bank Annual International Trade Seminar editions, Onyeagwu noted that previous editions’ outcomes have found expression and influenced policy initiatives. For instance, the extension of the period of repatriation of Non-Oil Export proceeds from 90 days to 180 days and the policy mandating shippers not to carry export without a Nigeria Export Proceeds (NXP) Form Number were recommendations from previous seminars. Also, the need to incentivize exporters to repatriate their export proceeds through the official channels and the recommendation to create export terminals across various export hubs in the country were also from past seminars. Also, previous editions recommended having Export Desks in commercial banks, which has now been instituted. He also stated that Zenith Bank has trained over 100 exporters through its Zero to Hero programmes which provide a platform for grooming and exposing beginners to become strong exporters by providing training on documentation, product sourcing, access to market and financing. He noted that Zenith Bank will continue the advocacy of promoting non-oil export.

Delivering his goodwill message, the Central Bank of Nigeria Governor, Mr. Godwin Emefiele, CON, commended Zenith Bank and its leadership led by the Founder and Chairman of the Board, Jim Ovia, for its laudable initiative in organizing an annual export seminar to explore opportunities in Nigeria’s non-oil export with a view to increasing the nation’s non-oil export base and ultimately increasing its share as a percentage of total export. In his words: “This is why the theme of this year’s seminar “Unlocking Opportunities in Nigeria’s Non-Oil Export Business” is timely and appropriate. This is because the global economy and structure are changing rapidly before our eyes. The previous world economic order underpinned by globalization and seamless trade possibilities seems to be suffering major disruptions lately. We believe Nigeria has a lot of potentials, and we can harness this for the good of our people and country.” He pointed out that the CBN has undertaken several initiatives to promote the non-oil export sector because of its firm belief that the non-oil export sector holds enormous potential to contribute to employment generation, wealth creation and economic growth of the country.

In his keynote address, the President & Chief Executive of Dangote Group, Alhaji Aliko Dangote, GCON, said that “Nigeria’s non-oil export is quite low compared to other African top oil producers. This exposes the economy to oil price/production risks. There is much room for growth, and the CBN is helping drive this through the RT200 programme”. According to him, the CBN RT200 FX programme, which aims to achieve $200 billion in foreign exchange earnings from non-oil proceeds over the next 3-5 years, has very laudable objectives, including enhancing foreign exchange inflow, diversifying the source of FX inflow, increasing the level of contribution from non-oil export, and ensuring stability and sustainability of FX flows.

In his Goodwill Message, His Excellency, Wamkele Mene, Secretary General, African Continental Free Trade Area (AfCFTA) Secretariat, enumerated the progress and achievements of the African Continental Free Trade Area and the efforts to improve intra-Africa trade. Also, in his Goodwill Message, Professor Benedict Oramah, President / Chairman of African Export-Import Bank (Afreximbank), highlighted the efforts of Afreximbank to enhance intra-Africa trade through the implementation of the Pan-African Payment and Settlement System (PAPSS). According to him, the Pan-African Payment and Settlement System will make it easy and seamless for Africans to trade amongst themselves and receive payment for goods and services in their local currencies, eliminating currency conversion challenges.

Zenith Bank remains committed to promoting the non-oil export sector in Nigeria by identifying emerging opportunities which help stimulate non-oil exports and develop robust financial products and incentives for operators in the sector. The bank launched the Non-Oil Export Seminar in 2017 as an initiative to deepen the discourse on promoting the non-oil export business in Nigeria.

2023: PDP Gov Candidate, Jandor Receives APC Decampees In Lagos

The Peoples Democratic Party Governorship candidate in Lagos State, Olajide Adediran, popularly known as Jandor on Wednesday received decampees from the All Progressives Congress.
The decampees from the ruling party came from the 20 Local Government Areas of the Lagos State ahead of the 2023 governorship election.

Jandor disclosed that the decampees, named ‘Best Alternative Network’ dumped APC because they believed in their (PDP) promise to Lagosians.

He further stated that they are against the misrule they are currently experiencing under the ruling party.

According to Jandor, “Yesterday, (Wednesday) I received into the Lagos PDP family, some members of the APC who dumped the APC for the PDP.

“The group by name, Best Alternative Network said they left APC, despite being the party in power because they believe in our promise of a better tomorrow as against the misrule they are currently experiencing under APC”

Jandor is contesting in the 2023 governorship election under the PDP alongside popular Nollywood actress, Funke Akindele, also known as Jenifa.

The PDP governorship candidate would be contesting against the state Governor and candidate of the APC, Babajide Sanwo-Olu and other candidates.

Buhari Meets Service Chiefs, Security Heads, Others In Aso Rock

President Muhamadu Buhari is currently meeting with Service chiefs and heads of security agencies over the worsening insecurity in the country.
Naija News reports that the National Security Council Meeting is taking place at the Council Chambers of the Presidential Villa, Abuja.

The meeting is being attended by the Chief of Defence Staff, General Lucky Irabor, Chief of Army Staff, Lieutenant General Farouk Yahaya; Chief of Naval Staff, Vice Admiral Awwal Gambo; and the Chief of Air Staff, Air Marshal Isiaka Oladayo Amao.

Also in attendance are the Inspector-General of Police, Alkali Baba Usman; the Director-General of the Department of State Service (DSS), Yusuf Bichi; and the Director-General of the National Intelligence Agency (NIA), Ahmed Rufai Abubakar.

Others at the meeting are the Secretary to the Government of the Federation; Boss Mustapha; the Chief of Staff to the President, Professor Ibrahim Gambari and the National Security Adviser (NSA), Major General Babagana Monguno (retd).

Nigeria Needs Competent Hand and not Religion Inclined Leader – Prophet Israel of Genesis Global

… Lambast Christians Leaders Who are Causing Religious Divide in the Country

“According to the Bible, when God created Adam he did not create him a Christian or Muslim he only created him a man. Since both the Christian and Muslim believe in the Adamic creation it is surprising how those who are supposed to be unifying us through the teachings of the Bible are now trying to separate us hiding under Christianity” This are the words of Prophet Israel Oladele of the Genesis Global Church recently in Lagos.

The renowned prophet in a statement made known by his media aide Oluwaseun Fabiyi, expressed his shock at how some Pastors people are looking up to has thrown the teachings of the Bible to the trash for the teaching of self-interest, and are in the process causing disunity amongst the same people God wants them to unite.

Not taking away the fact that Pastors are also human but Prophet Genesis as he is fondly called is of the belief that the public utterances of most of this supposed spiritual head reeks more of carnality than spirituality it was supposed to be. He was of the belief that reasoning of people in such a position should not only be spiritual but also intellectually sound.

He cited the fact that rather than make religious pronouncements on issues that can further disintegrate the country the candidates should be asked how the interest and conditions of living of the people will be protected and bettered.

In reference to the unveiling event that took place in Abuja on Wednesday, Genesis questioned the decision of the supposed spiritual leaders, CAN leadership and others, why they did not use the event to ask salient questions of the APC candidates as regards to the position of the Christians.

Against the believe that any Christian that supports Tinubu has been paid, Prophet Israel Genesis states “I can say this on the podium anywhere, and I have said it severally in the past and I will never desist but rather continue saying it, No Politicians or Nigerian leaders has ever gave me money to voice out, likewise I’m not advocating for Celestial body neither CAN but rather agitating/advocating for the Nigerian Youths because I’m a Nigerian and a vibrant youth prophet of God and I am entitled to my opinion. I’m not bothered if anybody decides to take this piece personal or read it out of context as the fact remains; truth is always bitter.”

The prophet stated further that he’s not afraid of letting people know of his Muslim background which he would never kick against as we are all same Nigerians and God’s hand made.

The World Famous Prophet, Israel Genesis Global also made it known to his media aide that he would rather die in Speaking the truth always than to live in telling lies as he promised never to relent in preaching the truth to the whole world.

CAN Reacts To Presence Of ‘Bishops’ At Unveiling Of APC Vice Presidential Candidate

The Christian Association of Nigeria has reacted to the presence of some clerics at the unveiling of Kashim Shettima as the running mate of the All Progressive Congress presidential candidate, Bola Tinubu.
Reacting to the event on Wednesday, the Vice President of CAN (19 Northern States and Abuja) and its chairman in Kaduna State, Rev. Joseph John Hayab, likened the Bishops to desperados who went there for themselves.

John Hayab further said the presidential candidate of the APC, Bola Ahmed Tinubu, was free to “hire mechanics and other artisans and sew clerical garments for them”, that effort would only add to their many ropes but would not change the need for fairness and justice.

He said, “The people we saw at the unveiling of Shettima paraded as Bishops are people who did not have enough time to learn how to wear Bishop garments. Take a closer look at their photo and you will see another Nollywood movie.

“CAN wonders why the desperation. First, a story was out claiming to have come from the Chairman of CAN Borno state only to be refuted. Secondly, there was another lie that BAT (Bola Ahmed Tinubu) and his running mate were on their way to meet CAN President one night. A meeting that was not true and was on a night that the CAN President was in Alabama USA attending the Baptist World Alliance Conference of which he is the Vice President.

“Another desperation story was that they met Papa Adeboye which the RCCG later refuted. If Christians are not important why the desperation?

“BAT is free to hire mechanics and other artisans and sew clerical garments for them. An effort that will only add to their many ropes when the political exercise is over but will not change the need for fairness and justice that CAN is calling for.

“CAN appreciate that we are in a democracy, no need to do funny and dubious things just to prove a point because it will in the end bounce back. BAT team should simply do what is right and stop the drama.”

Huawei, partners organize job fair for Nigerian youths

As part of its talent cultivation strategy, Huawei Technologies (Nigeria) Limited is set to host a job fair for Nigerian youths.

The job fair, scheduled to hold on the 3rd of August, 2022 at the International Conference Centre, Abuja is intended to attract, qualified candidates for job opportunities in IP technologies, Information Technologies, Channel management, Programming, Data Engineering, Account Management, Delivery Management, Procurement, Channel Sales and others.

This will afford candidates the opportunity to listen and connect to prospective employers. Recruiters would be looking out for Huawei certified applicants, experienced applicants, Interns and graduate trainees. The company says this is also open to NYSC members needing a place of primary assignment.

Nigeria is Africa’s largest economy and most populated country with great potentials for development, especially in ICT. The ICT sector is crucial to it’s national growth, a strong tool for sustainable development, increasing productivity and Economic expansion.

The job fair is intended to attract, qualified candidates for job opportunities, in IP technologies, Information Technologies, Channel management, Programming, Data Engineering, Account Management, Delivery Management, Procurement, Channel Sales and others.

Companies in attendance will include Huawei, its partners, customers and contractors. This is one of the profound components of Huawei skills development strategy and the youths are urged to seize the opportunity by ensuring that they market themselves and showcase their potentials.

The Job Fair is an important part of the Huawei talent ecosystem development strategy which aims at developing talents, promoting a favorable business environment and strengthening partnership within the industry.

A key aspect of ICT development in Nigeria is the cultivation of ICT talents in all industries. Looking to bridge the gap between Industry requirements and the Academia, Huawei continually leverages on the technologies, knowledge, experience, and successful practices it has gained over years of operations in the ICT industry to cultivate more high-quality ICT talent. Huawei does this through building sustainable partnership between the Industries, Government and the Academia.

As part of this, Nigeria’s Ministry of Communication and Digital Economy recently partnered with Huawei towards developing ICT Talents by signing an MOU with the Ministry of Communications and digital economy to train 3,000 students in ICT thereby expanding the digital economy. This is done through different initiatives, one of which is the Huawei ICT Academy which has partnered with over 100 educational institutions in Nigeria, including Ahmadu Bello University, University of Port Harcourt, University of Ibadan, Rufus Giwa Polytechnic and other renowned institutions.

‘Inhumanity To Man’- Abia State College of Education Staff Lament Non-Payment Of 29 Months Salary Arrears

The College of Education Association Staff Union, COEASU, has vowed to continue with the ongoing industrial action following the non- payment of 29 months salary arrears owed staff of the Abia State College of Education Technical Arochukwu, by the State government.

The union, after an emergency meeting on Tuesday, said staff of the institution live in deplorable condition due to non-payment of their salary arrears.

In an interview with THE WHISTLER on Wednesday, Chairman COEASU, Abia State College of Education Technical Arochukwu chapter, Comrade Kevin O Egesi, revealed that the nonchalant attitude of the state government towards teacher education was condemnable.

The union further accused the college management of refusal to promote staff for more than 7 year and to implement financial increment from 2008 till date.

He said: “In the meeting held on 19th July, 2022 the National Executive Council of COEASU agreed to continue with the strike action going on in the Colleges. Agreed to meet again in three weeks time.

“Abia State College of Education (Technical) Arochukwu staff are in a very deep suffering because of 29 months salary arrears owed to them. Abia State Government’s nonchalant attitude towards teacher education development and non release of subvension to the college have killed many staff, rendered many homeless and scattered many families. What is our offence in working for the state.

“The college management refused to promote staff for more than 7 years and also refused to implement financial increment from 2008 till date. Non- remittance of deducted union check-off dues by the management to cripple the union is a big offence. And the continuing deduction of staff salary by 15% for more than 2 years now. What a management, man inhumanity to man.

“Based on all these plight and suffering of the workers, strike continues in Asceta till all our demands are done.We will all see light at the end of the tunnel. Aluta continua”.

Recall that the National Board for Technical Education (NBTE) on Tuesday withdrew the accreditation of Abia State Polytechnic, Aba, for failing to pay staff salaries and allowances for over 30 months.

In a statement issued on Tuesday, a spokesperson for NBTE, Fatima Abubakar, said the accreditation was withdrawn because the polytechnic had not shown any commitment to offset the arrears and ensure regular payment of salaries.

BREAKING: INEC Presents Adeleke With Certificate Of Return

The Independent National Electoral Commission (INEC) has presented a certificate of return to Senator Ademola Adeleke, the winner of the just concluded Osun State governorship election.

Adeleke was presented with the certificate of return on Wednesday at the INEC headquarters in Osogbo.

In his acceptance speech, Adeleke commended INEC for the conduct of the elections, while appreciating the good people of Osun for trusting him with their votes.

THE WHISTLER had earlier reported how Afrobeats singer, Davido, called out the electoral umpire over the delay in issuing the certificate of return to Adeleke, his uncle.

Davido, real name David Adeleke, took to his Twitter account with about 12 million followers on Tuesday to query why INEC has yet to issue his uncle with a certificate of return 48 hours after the Peoples Democratic Party (PDP) candidate defeated the incumbent Governor Gboyega Oyetola who had sought re-election on the All Progressives Congress (APC) platform.

Responding, INEC’s National Commissioner and Chairman of Information and Voter Education Committee, Festus Okoye, explained that Section 72 of the Electoral Act 2022 provides that a sealed certificate of return at an election in the prescribed form shall be issued within 14 days to every candidate who has been returned by the Returning Officer in an election under the Act.

Recall that Adeleke of the PDP polled 403,371 votes to defeat incumbent governor, Gboyega Oyetola of the APC who garnered 375,027 votes.

He will be inaugurated on the 27th of November, 2022 when the tenure of the incumbent governor will come to an end.

NNPC Quietly Approves Petrol Pump Price Hike To N179/Litre

The increase in the price of Premium Motor Spirit, popularly known as petrol from N165 per litre to N179 per litre has been approved by the Nigerian National Petroleum Company Limited (NNPC).
The new price approved by NNPC is expected to take effect today across the country as it directs fuel marketers to change the petrol price on pumps today.

NNPC also increased the ex-depot price from N148.17 to N167 per litre.

The decision was reached weeks after fuel marketers adopted different prices following petrol scarcity across the country.

Some filling stations had changed the price on their meter, while others left the approved retail price of N165 per litre but were selling above the displayed price.

Some filling stations were dispensing fuel for motorists for around N170 to N175 per litre.

Tinubu Visits Pastor Adeboye Over Muslim-Muslim Ticket

Presidential candidate of the All Progressives Congress (APC), Bola Tinubu, has met with the General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, following the controversy trailing the Muslim-Muslim presidential preference of the ruling party

THISDAY had reported yesterday that Tinubu had set up a team of eminent persons with whom he was scheduled to meet the Christian leaders within the party and faith-based organisations like the Christian Association of Nigeria (CAN), Pentecostal Fellowship of Nigeria (PFN) and the Catholic, to appeal to them and secure their buy-in.

A source in the Tinubu Campaign team, who pleaded anonymity, informed THISDAY that the plan, which was going to be a holistic approach to the crisis, was to make the Christian community see reasons behind the Muslim-Muslim ticket, adding that Tinubu decided to lead a team to appeal to the Christian community.

But THISDAY yesterday gathered that the meeting with Adeboye was actually held on Sunday at the Redemption camp.

A reliable source, who also pleaded anonymity, told THISDAY that the meeting with Adeboye was very fruitful, adding that the clergy was not against a Muslim-Muslim ticket.

Though THISDAY could not confirm those on Tinubu’s entourage to the meeting with Adeboye, it was reliably gathered that the wife of the presidential hopeful, Senator Oluremi,was there.

“He met Adeboye on Sunday. The meeting was very fruitful. He (Adeboye) is not against Muslim-Muslim ticket,” the source said.

Asked who was with Tinubu at the meeting with Adeboye, the source insisted “his wife”, stressing that Tinubu would soon meet with the leadership of CAN.