BUSINESS
Pay Outstanding Liabilities or Risk Revocation of Licence, FG Tells Lottery Business Operators
By Joseph Amah, Abuja
Following the boom in the lottery and gaming industry, the federal government has warned operators in the industry to pay all their outstanding liabilities or risk revocation of their operating licenses. This was stated by the Minister of Special Duties and Inter-Governmental Affairs, George Akume, at the back-to-school jump-start project initiated by the office of the Speaker of the House of Representatives, Hon.
Femi Gbajabiamila, in collaboration with the National Lottery Trust Fund (NLTF) with the theme: “No School Left Behind,” at Teslim Balogun Stadium, Lagos.Akume said the lottery and gaming industry has generated a lot of jobs for Nigerians and has increased the nation’s Gross Domestic Product.
Akume, who was represented by the Executive Secretary, National Lottery Trust Fund, Dr. Bello Maigari, said the federal government would continue to work with the National Assembly to improve and regulate the industry.The minister praised Gbajabiamila for initiating the project in line with the federal government’s commitment to boost the learning capacity of students through the use of technology. “Today’s event underscores the commitment and determination and promise of President Muhammadu Buhari’s administration to improve the capacity of students to learn and excel in their studies,” he said.
Akume said the government would continue to do everything necessary to improve the standard of education in the country. In his remarks, Maigari, who is the Executive Secretary of the Lottery Trust Fund, commended Gbajabiamila for partnering with the fund on the project.
Maigari, whose speech was read by Mr. Sule Tegina, said that the project would boost the capacity of schools in the area of digital teaching, learning and sanitation. He said: “The programme seeks to help improve the current capacity of schools in the area of good hygiene practice through the provision of basic sanitary and standard modern teaching and modern learning aids for promoting standard is in tandem with global practice,” adding that the mandate of the fund was to take custody of 20 per cent of national lottery and gaming operations to execute development projects.
Speaking later, Gbajabiamila regretted the negative impact of the COVID 19 on the nation’s education sector, saying the consequence is devastating. He put the global statistics of the number of deaths from COVID-19 worldwide at 6,089,484 with school aged adult being a substantial number of the victims, adding that while the health implications of the pandemic are all too obvious, its consequences for education are subtle but nonetheless devastating.
He said: “However, statistics are scarce as to how many children have dropped out of school due to the pandemic, especially in countries with developing economies. Even where learning seems to have continued uninterrupted, it is hard to evaluate the educational disadvantages stemming from inadequate infrastructure for virtual teaching. “For students in Nigerian public schools, the lockdown in 2020 was a huge academic setback.
Thus, the Jump-Start Project is designed to mitigate the disadvantage caused by the lack of digital infrastructure in public schools, as well as ensure that there are no breaks in teaching and learning in the event of future reoccurrence. “It is the silver bullet that lifts people out of poverty, encourages a broader perspective that expands their world view and allows them to engage critically with the questions that determine the course of civilisation, innovation, and human progress. “In this 21st century, the problems of poverty and war, of healthcare and climate change can only be solved by empowering the greatest number of people to independently seek knowledge and the confidence to challenge settled questions and pursue new approaches to solving old problems.
As government, we are committed to building back a better and stronger educational system, which will be resistant to the eventualities of the new normal and personally, I am committed to improve the lives and livelihoods of my constituents through education. “A key to achieving this is the normalisation of digital learning and personal sanitation in public schools. Nigeria, and indeed Africa, has been short-changed by the roll-over effect of the COVID-19 pandemic.”
Mr Adegboyega Oyetola, the Minister of Marine and Blue Economy says upgrading the Maritime Academy of Nigeria (MAN), Oron to a university, will unlock opportunities in the maritime economy.
Oyetola made the expression at the 2024 MAN cadets graduation ceremony in Oron, Akwa Ibom on Saturday.
Represented by Mr Babatunde Bombata, the Director, Maritime Safety and Security, the minister said the Federal Government was working assiduously to unlock opportunities within the marine and blue economy.
He said that the ministry was already collaborating with the Ministry of Education and the Nigerian Universities Commission to ensure MAN’s seamless transition to a university.
“It is our hope that this upgrade will unlock new opportunities for advanced learning, cutting edge research and innovation within the marine and blue economy fields,” he said.
Oyetola urged the graduating cadets to be innovative, resourceful and forward looking in their future endeavours.
“The maritime and blue economy sectors are filled with opportunities, so your contributions to the sector will be instrumental in ensuring a brighter future.
“The government is committed to fostering excellence and innovation in these fields, and we eagerly anticipate the positive impact you will make in your careers,” he said.
He further said that the Federal Government was working on developing a national policy on marine and blue economy.
“This policy will serve as a strategic framework to drive economic diversification, attract investments, create jobs and youth empowerment.
In his remarks, Gov. Umo Eno of Akwa Ibom, said the state government would continue to collaborate with the academy to develop the maritime sector.
Represented by the Commissioner for Internal Security and Waterways, Gen. Koko Essien, (Rtd), Eno urged the graduating cadets to utilise their training in developing the maritime sector.
“I am hopeful that you will utilise the training you have acquired here to further your career as seafarers and in the development of our blue economy,” he said.
Eno commended the Acting Rector, Dr Kevin Okonna and his management team for their commitment towards repositioning the academy for greater results.
Earlier, Okonna said that graduates of the institution had contributed immensely to the growth of Nigeria’s maritime and blue economy.
“Today, we have an opportunity to celebrate a new set of well-trained personnel to the maritime and allied industries.
“We pride ourselves as the pioneer maritime training institution, this is because of the institution’s contributions to national development,” he said.
The acting rector urged the graduating cadets to made effective use of the knowledge gained during their training to make meaningful impact on the growth of the maritime sector.
Report says that awards were given to graduating cadets who distinguished themselves in character and learning. (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)
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