Economy
Journalists Crucial to Social Protection in Nigeria-SCI
Save the Children International (SCI), an NGO has urged journalists to create awareness on government’s social protection programmes among citizens.
Mr Kayode Ajumobi, National Programme Manager of Child Development Grant Programme (CDGP), a Social protection programme under the SCI made the call during a three-day Social Protection Awareness Training for media in Kaduna .
Ajumobi said that such media informative reportage would help to ensure that the country was on the right path in terms of social protection.
He commended the Federal Government who in spite of the decline in the source of revenue continued to fund the social protection programme .
He added that the government needed to do more to create awareness and improve transparency and accountability in the sector.
“We believe journalists have a very important role to play in helping to hold the government to account to live up to their responsibilities .
“You won’t be able to do this work if you don’t have a good understanding of what social protection means and I thought that this training affords us the opportunity to provide you an orientation on social protection and its key concepts.
“To know what the Federal and state governments are doing at the moment in terms of social protection and the participation of citizens and civil society organisations in the current social protection landscape.
“We believe with you being aware of all of these going on in the social protection landscape; you will be able to play a very important role in helping to disseminate these information create awareness among citizens hold government officials to account.’’
Ajumobi said that a lot of people did not know that social protection or palliative distribution was their right and an obligation of the government and thought they were being magnanimous.
He said that social protection was a human right, and the Nigerian government signed up to it and not that they were doing citizens a favour .
He said that by bringing journalists together to enlighten and provide them with index orientation on social protection, SCI believed that their reportage on social protection would significantly improve .
He said that as part of the Civil Society Organizations (CSOs) involved in third party monitoring of social protection programmes some loopholes were observed.
Ajumobi noted that the Federal Government had continued to pay cash to beneficiaries in the cash transfer program and it brought a lot of operational cost to the progamme.
He called for a full digitalisation of Cash Transfer for the social protection programme to save cost adding that if beneficiaries got the cash paid into their accounts for easy access, most beneficiaries won’t have to travel long distances.
He said that another challenge observed was that the grievous mechanism needed to be properly redressed.
This ,he said was because some people might get their payment cash receipts of three thousand instead of five thousand naira, unaware of the opportunities or tools in which they could complain and seek redress.
Ajumobi said that although the Social protection was a Federal government initiative, SCI Child Development Grant Programme (CDGP) was strengthening the social support system in Nigeria.
“We have three outputs which we are working towards in creating an enabling environment for social protection policy and institutions, ensuring evidence for social protection in collaboration with CSOs.
“This creates accountability, transparency for social protection policies and institutions, we work to help strengthen the system of the government with the revision of the national social protection policy. ‘’
Ajumobi said that the policy which was developed in 2017 ran out in 2020 and was spearheaded by the Ministry of Finance, Budget and Planning and SCI was at the forefront as well.
He said that CDGP, was being implemented by Save the Children and Action Against Hunger since 2014 in Nigeria.
He said that in the first phase, the progamme was positioned as a “Cash Plus for Nutrition”, aimed at contributing to the reduction of the high malnutrition levels in Northern Nigeria.
Ajumobi said that it targeted and provided cash-transfer to pregnant women and women with children under the age of two years, in selected communities of Zamfara and Jigawa states.
He said that since the commencement of the second phase of implementation in 2019, CDGP continued to collaborate with the government of Nigeria at the national and state-levels across its four focal states of implementation.
“The programme has continued to support the government to strengthen policy and legislation, support the design and delivery of social protection programmes, and work with CSOs and media to stimulate political will and promote accountability.(NAN)
Economy
Investors Gain N183bn on NGX
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
Economy
Yuan Weakens to 7.1870 Against Dollar
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)Economy
Bring Kaduna Refinery Back into Operation, Youth Group Urges NNPCL
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)