Category: General

Construction of the Koysha Hydro Electric Power Station, which is under construction on the Omo River in the South Western Ethiopia Region, has reached 61 percent completion.

A group of journalists from local media organizations visited the ongoing construction activities of the project.

Deputy head of the project Engineer Abayneh Getaneh said the dam, which is under construction on the Omo River, will have an installed capacity of 1,800 Megawatts.

He explained that the project will be equipped with 6 turbines, each generating 300 megawatts, and construction of the turbine house and ventilation is underway.

the Deputy head noted that the civil work of the project, which started in 2016, is now 52 percent complete, the dam reinforcement has reached 30 percent, the ventilation 13 percent, and the electromechanical work is under study.

Overall the project completion has reached 61 percent, Engineer Abayneh confirmed.

He added that the project has created jobs for five thousand people and is making a great contribution to the transfer of knowledge and technology.

When the Koysha Hydroelectric Project is completed, an artificial lake of 130 kilometers long and 200 square kilometers in area will be created, it was noted.

Koysha Hydroelectric Project Manager, Engineer Eugenio ZOPPIS said the project is contributing in terms of knowledge and technology transfer in addition to job opportunities.

The State Minister of Government Communication Services, Selamawit Kassa, on her part said Koisha is one of the mega projects that have been around for a long time and have great significance.

However, she added that currently the construction of the hydropower project is well underway due to the special attention given to it by the government as part of the on going reform measures.

Selamawit further stated that the project includes national parks which are endowed with potential natural resources vital for tourist destinations. According to her, the artificial lake impounded behind the dam will increase the flow of tourists.

On the other hand, the project will connect the local community with the infrastructure networks and make the local products, including vegetables and fruits, accessible to the market, she said.

According to the State Minister, the government of Ethiopia has given a great deal of attention to Koysha Hydroelectric Project. She also affirmed that works are well underway to complete the project within short period of time.

Ethiopia has some of the richest fresh water resources in Africa by volume, distributed across eight major basins with an exploitable hydropower potential of 45,000 MW.

To help address the energy deficit, the government has developed large hydropower projects along the country’s major river basins.

This includes the Grand Ethiopian Renaissance Dam (GERD) which once completed will be the largest hydroelectric power plant in Africa and the recently-completed 1,870 MW Gibe III project.

Experts say that Ethiopia has the capacity and capabilities to become a great energy exporter within the region, which could benefit also the neighboring countries.

Source: Ethiopian News Agency

Advisors to Board of Directors of African Development Bank (AfDB) met with the officials and advisors of the Ministry of Industry to review the progress the manufacturing industry has made and the support being provided by the bank.

The two sides also discussed on how the AfDB would continue providing support to the sector and the efforts being made by the government to intensify the manufacturing sector, according to the Ministry of Industry.

Members of the AfDB delegation have been provided briefings by officials of the ministry on development facilities of various Industrial Development Parks in the country, on commitment of the federal government to further boosting the manufacturing sector as well as on results and challenges.

The delegation of AfDB also visited Yirgalem Integrated Agro-Industrial Park and Hawassa Industrial Park.

Source: Ethiopian News Agency

TEXEM UK, a leadership development organization has praised the appointment of Zacch Adedeji as Chairman of Federal Inland Revenue Service (FIRS) by President Tinubu describing it as a trailblazing step in revenue transformation.

In a statement on TEXEM’s website signed by Caroline Lucas, Director Special Projects, Adedeji was described as a visionary leader who pursues excellence always.

Lucas said the prestigious appointment follows closely on the heels of Adedeji’s appointment as Special Adviser to President Tinubu on Revenue Matters, adding that it is a testament to his remarkable journey in revenue transformation.

She said Adedeji’s ascent to the pivotal position is not a coincidence but the culmination of years of dedication, innovation, and strategic thinking.

“His story is one that inspires and showcases the incredible possibilities that arise from unwavering commitment to excellence,” Lucas said.

She recalled that in 2011, Adedeji etched his name into the annals of history by becoming the youngest ever Commissioner for Finance in Oyo State.

Lucas added that during his tenure, he displayed a remarkable knack for introducing groundbreaking reforms that elevated Oyo State’s internally generated revenue to unprecedented heights.

“Through the implementation of best financial practices and plugging financial leakages, Adedeji showcased his unparalleled ability to innovate and generate revenue, a skill set that would prove invaluable in his future endeavors.

“TEXEM UK takes pride in having contributed to Adedeji’s journey of excellence.

“In 2015, he participated in our prestigious “Leaders in Oil and Gas programme” in London, UK,” she said.

Lucas said his participation in TEXEM’s programme allowed Adedeji to broaden his strategic outlook and gain valuable insights from global industry leaders.

She affirmed that his commitment to personal growth and professional development has undoubtedly played a pivotal role in his outstanding achievements.

“Following his triumph in Oyo State, Adedeji was appointed as the Executive Secretary of the National Sugar Development Council in March 2021 by former President Muhammadu Buhari.

“For over two years, he worked tirelessly toward Nigeria’s ambitious goal of achieving self-sufficiency in sugar production through the faithful implementation of the Nigeria Sugar Master Plan.

“Adedeji’s dedication and strategic acumen propelled Nigeria closer to this vital objective, underscoring his capability as a transformative leader,” Lucas said.

She said Adedeji is a Fellow of Chartered Accountants, a member of the Institute of Chartered Accountants of Nigeria, and a member of the Chartered Institute of Taxation of Nigeria.

Lucas said that with all the qualifications, Adedeji possesses a formidable wealth of knowledge and expertise in the financial sector.

“His deep understanding of finance and taxation is an invaluable asset that will undoubtedly drive revenue growth and economic stability under his guidance at FIRS.

“One of the most striking aspects of Adedeji’s leadership is his versatility and ability to transform revenue challenges into opportunities for growth and innovation.

“His strategic outlook, combined with an unwavering commitment to excellence, distinguishes him as a transformative leader capable of driving financial change and shaping Nigeria’s economic landscape,” she said.

TEXEM UK’s founder, British Nigerian, Dr Alim Abubakre also commended Adedeji saying his appointment is well-deserved.

“His remarkable journey from a state Commissioner to a Presidential Special Adviser serves as an inspiration to aspiring leaders across Nigeria.

“Adedeji’s accomplishments demonstrate the incredible possibilities that arise from passion, dedication, and a relentless pursuit of excellence.

“As Zacch Adedeji takes the helm at FIRS, TEXEM UK extends its best wishes, and hopes for a tenure marked by groundbreaking achievements, sustainable revenue growth, and a prosperous future for Nigeria,” Abubakre said.

He said TEXEM proudly stands behind Adedeji as he continues to drive Nigeria’s revenue transformation with his visionary leadership and unwavering commitment to excellence.

Source: News Agency of Nigeria

A Civil Society Organisation under the aegis of Civil Society and Workers Dialogue Forum (CSWDF) has expressed its disapproval of the proposed strike by the Nigeria Labour Congress (NLC) scheduled to commence on Tuesday, Oct. 3.

The organisation in a statement issued by its Convener, Abubakar Ibrahim and Rafiu Shaibu, Co-convener, Bashir Faisal, in Abuja on Wednesday described the action as an economic sabotage.

It described the planned action as a deliberate mischief given that the NLC is insensitive to its own part of dialogue with the Federal Government over the petrol subsidy removal impasse.

The CSO assured that it would always lend its voice if the NLC decides to toe the path of nobility, embrace dialogue and shelve the strike.

The CSO said the NLC had fully agreed to the withdrawal of fuel subsidy which it had earlier advocated for.

It added that “having the subsidy that has been draining government for years removed should be supported by all stakeholders, rather than ‘evil kick’ as it were.”

The group said it acknowledged difficulty faced by Nigerians and explained that the Federal Government had made deft moves in rehabilitating the refineries to reduce the cost of PMS and gas importation.

It added that the recent distribution of palliatives to the tune of N5 billion to each of the 36 states of the federation and the Federal Capital Territory is part of efforts to mitigate the effects until things normalise.

It added that no government anywhere in the world derives pleasure in the suffering of its people.

“The wage increase of workers is being negotiated with NLC constituting membership of the committee, hence we are appalled at what the proposed strike intends to achieve.

“As opposed to the past, the NLC has always been on the negotiation table before any decision was taken by this administration,” the group said.

The CSO recalled that in June 2023, “the labour union was in talks with the Federal Government over fuel subsidy removal without carrying other stakeholders along which we protested our exclusion.

“Having agreed with President Bola Tinubu’s administration, only for the workers union to recant and proposed an indefinite strike is counter-productive and we will mobilise our members across the 36 states and FCT for anti-NLC protest,” the CSO said.

It added that the statement should serve as official notice to the Director of State Service, Inspector General of Police and other security agencies, that it is going to mobilise to streets against NLC on Oct. 3.

The group said that some states had purchased buses for public transportation and has also added fund to the FG’s offer to them to cushion effects of the subsidy removal in their respective states.

It insisted that the proposed strike is inappropriate thereby calling on citizens not to allow themselves to be used against the genuine interest of government.

Source: News Agency of Nigeria

The Speaker of the House of Representatives, Rep. Tajudeen Abbas has pledged to prioritise capacity building for members and staff of the house to ensure effective service delivery.

Abbas made the pledge on Thursday at the opening of a 2-day workshop titled: ‘Improving the Effectiveness of Legislative Aids’, organised for aides in the office of the speaker.

The workshop was organised in collaboration with the Policy and Legal Advocacy Centre (PLAC) with support from the UK Foreign, Commonwealth and Development Office (FCDO).

Abbas said that the house is ready to engage development partners to provide targeted capacity programmes for members and staff

“Capacity building is a major motivation for productivity in any establishment. It is my avowed commitment to ensure that capacity building is a major hallmark of my tenure as speaker not only for staff but also for members of the House of the Representatives.

“I want to take this opportunity to urge you to take every opportunity for training very seriously; the success of any establishment is dependent on the capacity and output of the drivers of that office.

“Today, you are the face of the speaker’s office. You are the ones that members and visitors interface with in the office of the Speaker.

“Your conduct, your disposition, your relationship with people, and the way you attend to the public represents the image of the office of the speaker.

“Therefore, you must continuously learn the code of ethics and public service rules in engaging yourselves in the course of discharging your responsibilities,” he said.

The speaker commended PLAC for the sponsorship and for many other interventions they have rendered to the house over the years.

Earlier in his remarks, the Executive Director of PLAC, Mr Clement Nwankwo, said the country is faced with many challenges.

He said that there is a need to support the aides study the challenges and help the speaker respond to citizens’ questions and demands at this critical time.

He said the aim is having a legislature that understands the challenges citizens face and respond to support citizens on the issues.

He said the effort was to get the parliament to respond to what citizens are asking for and to ensure more transparency in the legislature.

He said some of the demands include making laws that respond well to citizens’ demands and for National Assembly to carry out oversight roles better and be able to represent citizens. (NAN)

Source: News Agency of Nigeria

Access Bank Plc says it has enhanced its Agriculture Desk to boost sustainable agricultural business and attract global investments.

The Executive Director, Commercial Banking, Access Bank, Ms Hadiza Ambursa, at a news conference in Lagos, said that the move aimed at improving value for its customers and stakeholders.

Ambursa said that the advancement positions the bank at the forefront of Nigeria’s agricultural financing market segment to serve and support agribusinesses in Nigeria.

According to her, this is in line with the Central Bank of Nigeria’s (CBN) directive to banks.

She said that the agriculture desk serves as a specialised unit which is charged with the responsibility of offering financial and advisory services.

She said that the desk also supports prospects and existing players in the agri-business value chain.

Ambursa said this is in the areas of input and supply, primary production, storage, processing, marketing, mechanisation, among others.

The executive director explained that the creation of the desks was to actualise the ‘From Farm to Table’ Policy thrust of the CBN, which aligns with the bank’s vision of contributing to the country’s achievement of sustainable food security.

“Access Bank’s agriculture desk is first of its kind in the Nigerian agricultural financing market segment to bridge the funding gap in Nigeria’s agricultural sector.

“This is done by promoting agribusiness activities through sustainable lending to customers, while providing sustainable and innovative agribusiness solutions for the markets and communities the bank is serving.

“This is done by collaborating closely with the market to understand their unique needs, offering tailored financial products and services to optimise their operations and facilitate expansions.

“Accelerate the growth of agribusiness and enhance the livelihoods of farmers and agro-entrepreneurs, by strategically aligning its services with the evolving needs in the agricultural industry,” she said.

According to her, the bank provides tailored financial solutions that address the unique challenges faced by farmers, agribusinesses and other stakeholders in the value chain with the value addition services.

Ambursa said these include provision of financial and advisory services, market linkages to support sales, capacity building, with special focus on women and youth, stakeholders’ engagement, project monitoring and reporting.

She mentioned that the bank’s agriculture desk has a seamless and simplified process for the accessibility of the service.

The executive director said: ” The agriculture desk is not only about financing; it is about driving transformational change within the agricultural landscape.

“Our commitment extends beyond monetary support to encompass capacity building, technology adoption and market access for our clients.

“The desk’s impressive track record has been built on partnerships with key stakeholders, including government agencies, international organisations and industry associations.

“This collaborative approach has reinforced our reputation as a reliable driver of growth in Nigeria’s agricultural sector.”

Ambursa noted that the bank has positively contributed to the nation’s achievement of self-sustained food security.

She revealed that the bank’s investment in agribusiness, so far, is over N200 billion, which has benefitted over 10,000 Agribusinesses, across Small Holder Farms (SHFs).

Also, Small and Medium Enterprises (SMEs), organised farmer associations or cooperatives and corporates who are financed under various bank’s product and government schemes.

The executive director said that the support for these projects has had impacts, such as increase in food security, job creation, growth in customers’ businesses and increased revenue.

Ambursa stated that with a steadfast commitment to sustainable agricultural business and strategic stakeholders partnerships, the bank is steering the nation and continent toward greater self-sufficiency and global prominence.

She said that the bank had earned several awards to its credits, which includes: 2021 and 2022 Global Brand Magazine Award of “Best Agro Banking Brand, 2021 Nigeria Agriculture Award of Agric Bank of the year.

It also won the 2020 African Banker Awards of “Agriculture Deal of the Year, 2019 Central Bank of Nigeria ‘Agricultural Credit Guarantee Scheme’ Award, 2018 and 2019 Central Bank of Nigeria ‘Most Sustainable Bank in Agriculture’ award. (NAN)

Source: News Agency of Nigeria

The Debt Management Office (DMO), has assured prospective investors in Federal Government of Nigeria (FGN) securities of profitable yield on their investments.

The Director-General of the DMO, Patience Oniha, said this on Thursday in Maiduguri during the FGN Securities Issuance Awareness Programme in the capital city of Borno.

The News Agency of Nigeria (NAN) reports that the programme was jointly organised by the DMO and CSL Securities Limited, the stockbroking firm for the Federal Government .

Oniha, who was represented by Mr Abubakar Sani, DMO’s Deputy Director, Policy and Risk Management Department, said that the programme was designed to educate Nigerians about safe investment opportunities in FGN securities.

She described investment in FGN securities as the safest place for Nigerians to grow and diversify their finances.

According to Oniha, the various FGN security instruments, which constitute the local component of the country’s public debt, also contribute to developing the local financial market and deepening financial inclusion.

She said that they were backed by full faith and credit of the Federal Government of Nigeria and were default risk-free.

“One function of these FGN securities is to raise capital to finance deficits in the budget and also to raise funds to execute critical infrastructure projects.

“The Federal Government of Nigeria securities also contribute to the development of the domestic capital market, and they serve as a benchmark for other private institutions to issue their own securities.

“The idea of getting more Nigerians to invest in government securities is to also promote and encourage financial inclusion. ,” she said.

Mr Abiodun Fagbulu, the Managing Director, CSL Stockbrokers Limited, said that FGN securities were designed to accommodate all categories of Nigerians.

Fagbulu, represented by Mr Richard Akinmoladun, Head, Property Trading at CSL, said that government securities also enhanced the savings and investment opportunities of the populace.

He described FGN securities as financial instruments issued by the DMO on behalf of the Federal Government .

He listed the various investment platforms to include FGN bond, FGN savings bond, treasury bills, the green bond, and the Sukuk bond.

He said that the FGN savings bond was specifically designed for the retail investors to benefit, thereby promoting financial inclusion.

Fagbulu urged residents of Maiduguri to take advantage by investing massively in FGN savings bond, which had a minimum subscription of N5,000.

“The FGN savings bond was particularly designed to encourage Nigerians across all social status, thus promoting financial inclusion.

“The idea is to enable retail investors, who are mainly low income earners, also benefit from the investment opportunities in FGN securities.

“Federal Government of Nigeria securities are mostly fixed-income instrument under which the government is obliged to make payments of a fixed amount on a fixed schedule, once or twice a year, and repay the principal amount on maturity.

“Investors in fixed-income securities are, therefore, guaranteed a constant and secure return on their investments,” he said.

The News Agency of Nigeria (NAN) reports that the awareness programme was inaugurated in Lagos in March 2022.

It has also been held in Enugu, Ibadan, Kano, Yola, Umuahuia, Gombe, Osogbo, Port Harcourt, Benin, Uyo and Asaba.

Source: News Agency of Nigeria

Dr Samuel Ogbuku, the Acting Managing Director/Chief Executive Officer of the Niger Delta Development Commission (NDDC) has charged the new directors of the commission to be committed to the mentorship of their subordinates for greater performance.

Ogbuku gave the advice at the end of a two-week course on leadership and performance management for directing staff of the NDDC in Abuja on Thursday.

The course was organised by the Human Resources Department of the commission in collaboration with the Administrative Staff College of Nigeria (ASCON).

Ogbuku also advised the new directors to brace up for the challenges ahead and be ready to do things differently to improve the services.

“Things need to be done differently, by improving services and to take up challenges, meaning we have to start with the staff first and ensure that all the staff are properly trained and they understand their role.

“One thing that is lacking in public service is the inability for public servants to have mentors, sometimes we make the wrong choice of role models in our area of operation, you need to look at a successful administrator and make such your mentor.

“This will make you excel in your field and you should be able to mentor your younger colleagues. Some of your actions may affect them. You must learn to be patient, understanding before making harsh decisions,” Ogbuku said.

He said that the training was to bring back experience of the new directors to the commission to improve on the administration and ensure that things were done differently.

Ogbuku said that the new directors need to understand their role, boundaries, strength, when to use them and when not to, as well to understand that they are public and civil servants.

“Civil servants should understand that they are not politicians and have no business there. I believe that you understand the boundaries in areas you should not go into.

“ Over the years we have seen situations where some staff of NDDC are seen to be more of politicians than civic servants but as directors who have been inducted into ASCON I believe you are not just ambassadors but good ambassadors.

“ I never had the opportunity to pass through ASCON but all inductees of ASCON usually understand and behave alike. All of us in NDDC will go through ASCON,” he said.

Ogbuku commended ASCON for organising the training, saying that the knowledge gained would help their career.

Director General of ASCON, Mrs Cecilia Gayya, urged the participants to contribute their quota to the growth and development of the commission by leveraging on all they learnt from the training.

Gayya described the training as an important platform for better performance and understanding of their jobs.

“Training as you all know, is essentially an activity that is designed to make an employee more efficient and productive in the performance of his/her duties.

“The focus of this training is on the job performance in terms of efficient and effective application of knowledge, skills and attitude for improved performance.

” When a nation or an organisation develops the capabilities of its workforce, it can create other necessary capacities for effective and responsible service delivery,” she said.

Gayya also commended the management of the commission for organising the training and urged other agencies to emulate the initiative, adding, ”it pays to train employees for better performance.”

Source: News Agency of Nigeria