Economy
NBS to Verify Programme to Increase Access for Out-of- School Children
The National Bureau of Statistics (NBS) is set to verify the Better Education Service for All (BESDA) programme to increase equitable access for out-of-school children in Nigeria.
Prince Semiu Adeniran, the Statistician-General (S-G) of the Federation and Chief Executive Officer, NBS, said this at a workshop of the Training of Trainers for the 2nd Round of the BESDA Verification in Abuja on Tuesday.
Newsmen report that BESDA is a programme-for-result, funded by the World Bank to support an increase in access to basic education by increasing equitable access for out-of-school children.
The programme is also aimed at improving literacy and strengthen accountability for results in basic education in Nigeria.
“BESDA, as you are all aware, is a results-based programme that allows states to earn rewards for achieving results under stipulated Disbursement Linked Indicators (DLI), with NBS serving as the Independent Verification Agency under the programme.
“This round of the verification is the second and final for the project. The first round was successfully implemented with over 54,017 schools and non-formal centres visited physically for the verification.
” This represents approximately 82 per cent of the frame initially planned for, with the uncovered balance largely due to insecurity and issues with the frame.”
According to him, the training is a culmination of months of planning and preparation for the main verification which has included several activities.
Adeniran said the activities consisted of a pre-test exercise, which was conducted in the Federal Capital Territory (FCT) and Niger state, and a robust pilot study conducted in nine states.
He said this was to help gauge the level of preparation for the main exercise, among others.
The statistician-general said the verification was not only important to the BESDA programme itself, but also the statistical system in Nigeria.
“The verification process serves the critical purpose of enabling reward for state governments for their effort in improving literacy, accountability, and documentation in schools, as well as getting out of school children back into the classroom.
“The exercise also provides very important statistical information for planners within the education sector.
“As is generally known, it is impossible to make sustainable progress and development in any aspect of life without the adequate use of reliable data and statistics, so the importance of this exercise cannot be stressed enough. ”
He urged all the trainers, monitors, and data editors to fully participate and engage in this training exercise.
Adeniran said that the success of the programme greatly depended on how well they performed their role in training the interviewers, monitoring their work in the field, and reviewing and assessing their submissions.
“It is my belief that if we work hard and show the same commitment to the process as we did in the last phase, we can achieve what is expected of us.
“We can also deliver results that cannot be contested by any state or stakeholder under the programme.”
Hajia Amina Haruna, the National Coordinator, BESDA, Federal Ministry of Education, said the programme was a five-year programme which started in 2018 and would end on Oct. 31, 2022.
According to her, the programme is expected to cover the DLI. DLI are indicators that attract money or reward to a particular programme.
Haruna said the reward for the 17 focus states for the first phase was ready and would be disbursed soon based on the report.
She said that the 2nd Phase would be conducted in 17 BESDA Focus States.
Haruna said the states included all states in the North-East and North-West, Niger State in the North-Central, Oyo State in the South-West, Ebonyi in the South- East and Rivers in the South-South. (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)