Economy
Coy Targets 4,000 Nigerians on Meter Manufacturing, Installation Training
Momas Electrical Meters Manufacturing Company Ltd. (MEMMCOL) Metering School says it will train no fewer than 4,000 Nigerian youths on meter installation and manufacturing in 2022.
Mr Kola Balogun, Chairman, MEMMCOL, made this known in an interview with the News Agency of Nigeria (NAN) in Lagos.
Balogun noted that the huge metering gap in the electricity sector was an opportunity to create employment for young Nigerians to enable them contributes to nation building.
“We trained more than 2,000 young Nigerians in 2021 on meter manufacturing, installation and maintenance.
“Our projection is to be able to double that capacity in 2022. We are expanding our school now because of the support of our foreign partners.
“They want us to train young females, especially those at the Internally Displaced Persons (IDP) camps.
“We are hoping to train 4,000 Nigerians this year and once we are able to train them, those from the IDP camps will have something to do going forward.
“Training anybody, especially in the power sector and getting them engaged immediately, it means you have taken them out of the streets,” he said.
Balogun said that those trained in 2021 were from various parts of the country with some of them already working with electricity Distribution Companies.
He said President Muhammadu Buhari had always championed the call to empower Nigerian youths, stressing that this was MOMAS contribution to national development.
Balogun said: “We are creating wealth because those trained already are training others and engaging them positively.
“We believe that engaging our youths positively will curb restiveness and insecurity in the country.
“We don’t just train but we kit them. We also educate them and change their attitude to the job because MOMAS represents good product, good character and good thinking.
“Our training and the curriculum are endorsed by the Council for the Regulation of Engineering in Nigeria (COREN) and the Nigeria Society of Engineers (NSE).
“These bodies of engineers have come out with the scope of the curriculum and it was designed to accommodate everyone irrespective of your background, either science or not.” (NAN)
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)
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)
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)
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