BUSINESS
NBS, Foundation Partner to Enhance Nigerian Public Sector Performance
By Tony Obiechina, Abuja
The National Bureau of Statistics (NBS) and the Aig-Imoukhuede Foundation have announced a partnership to develop the Aig-Imoukhuede Public Sector Performance Index which seeks to measure the impact of the public sector on the overall productivity and economic growth of the Nigerian economy and on the wellbeing of Nigerian citizens.
A Memorandum of Understanding to that effect was signed on Thursday in Abuja between the NBS and the Foundation for the development of the Aig-Imoukhuede Public Sector Performance Index.
According to a statement jointly issued by NBS Director of Communications, Mr Joel Sunday Ichedi and the Foundation’s Head of Communications, Patience Salami said the Index will measure the impact that public sector activities have on the overall productivity and economic growth of the Nigerian economy and on the wellbeing of its citizens.
The Index is being developed by the Foundation in partnership with the Governance and Institutions Policy Commission (GIPC) of the Nigerian Economic Summit Group (NESG), as part of its work to facilitate the transformation of the Nigerian public sector. Present at the signing ceremony, which held at the Statistics House, Abuja, were the Statistician-General of the Federation, Dr. Simon Harry, the Chairman and Executive Vice Chair of the Foundation, Mr. Aigboje and Mrs Ofovwe Aig-Imoukhuede, as well as senior officials and staff of both organisations.
The signing of the agreement marks the long-term commitment of both organisations to work collaboratively to develop the Index and ensure its success.
Dr Simon Harry, the Statistician-General, National Bureau of Statistics (NBS), in his remarks said, “This Index aligns with the goal of the Bureau to provide credible statistics on the public sector that will promote evidence-based decision making. The National Bureau of Statistics under my leadership commits to lending its full support to this laudable initiative by ensuring that it is designed, developed and delivered to global standards, comparable to any other world class index”.
Continuing, he said, “This Index could not have come at a better time, and I look forward to working with the Aig-Imoukhuede Foundation in its quest to transform the performance of the Nigerian public sector.”
Mrs. Ofovwe Aig-Imoukhuede, Executive Vice-Chair of the Foundation said, “Despite its huge potential, Nigeria performs poorly across all indicators of the Human Development Index. There is a direct correlation between better performing countries and the efficiency of their public sector and so our goal at the Foundation is to foster improvement in the Nigerian public sector in order to achieve better outcomes for Nigerian citizens.
“This Index will comprehensively review and provide feedback on the performance of public institutions with a view to identifying success factors for improved public sector performance and providing the government with an objective view of areas of progress and areas for performance improvement. It will also provide citizens with information about public sector performance in an accessible manner and encourage informed national debate.”
The Chairman of the Foundation, Aigboje Aig-Imoukhuede stated, “I am confident that this partnership between the Foundation and NBS will facilitate the creation of an Index that has legitimacy and wide acceptance to a diverse range of stakeholders nationally and globally. This Index is just one of the numerous initiatives we are currently undertaking at the Foundation, to achieve our vision of closing the gap between Africa and the rest of the world.”
The National Bureau of Statistics is the apex statistical agency statutorily responsible for the coordination of the operations of the National Statistical System in the production of official statistics for all the three tiers of Government including all the Federal Ministries, Departments and Agencies (MDAs), State Statistical Agencies (SSAs) and Local Government Councils (LGCs).
The partnership and collaboration between both organisations will facilitate the exchange of ideas, expertise, and tools in developing the ground-breaking Index, the first of its kind on the African continent.
The Index Project Manager added “What you cannot measure, you cannot improve. This Index is being designed to provide a credible, reliable, and robust tool that can lead to a better performing public sector. We are therefore very excited to witness the signing this Memorandum of Understanding today”.
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)