BUSINESS
Delta to Spend More on Education
Omo Obazee, Asaba
Delta State Governor, Sheriff Oborevwori, has reiterated his administration’s commitment to prioritize and sustain the welfare of teachers by providing them with the necessary support to elevate the education system in the state to greater heights.
The Governor made this statement in Asaba during the opening ceremony of the 65th Annual Congress of the All Nigeria Conference of Principals of Secondary Schools (ANCOPSS).Represented by his Chief of Staff, Hon. Johnson Erijo, the Governor noted that ANCOPSS, as a critical stakeholder in the education sector, was established to have a positive impact on the lives of students, staff members, and administrators at the secondary school level, both in terms of education and morals.
The Governor assured that secondary school education would receive adequate attention in the coming months, aligning with the MORE agenda of his administration.
Governor Oborevwori described ANCOPSS as important custodians of secondary school education in the country and appealed to heads of secondary schools in Nigeria to recommit themselves to the vision and mission of secondary education in the country.
He explained that his administration places a high premium on the education sector, adding that Delta State is one of the few states that extended the retirement age of teachers from 60 to 65 years and the length of service from 35 to 40 years.
The Governor stated that in less than 100 days in office, his administration approved the payment of pensions and gratuity to retired public and civil servants in the state.
Continuing, Governor Oborevwori announced that his administration had also approved both the payment of promotion arrears and the recruitment of primary school teachers and other support staff in the Local Government Councils of the state.
Speaking on the theme “The Roles of Education Stakeholders in Sustainable Secondary School Management in Nigeria,” ANCOPSS National President, Muhammad Musa, stated that the conference was organized for Principals of Secondary Schools in Nigeria to exchange ideas and make recommendations on matters affecting education in the country.
Musa added that issues concerning education, considered to be of public interest, as well as efforts to raise the standard of education through dedication to duty to promote academic excellence, would be addressed.
In her welcome address, the ANCOPSS State President, Lady Winifred Emeni, expressed appreciation to Hon. Oborevwori for his administration’s commitment to the education sector and for demonstrating a desire to do more for the State and the education sector in particular.
Lady Emeni noted that Delta State Government had created a conducive atmosphere for the growth of the education system in the state by promoting and maintaining a qualitative, functional, free, and compulsory education for all school-age children, regardless of religion, sex, and disability.
She revealed that Delta State had consistently placed education at the forefront, ensuring that salaries were paid on time.
Lady Emeni, who serves as the Permanent Secretary in the Delta State Post Primary Education Board (PPEB), recalled that the Teachers Professional Development Centre (TPDC) was established for training and retraining the education workforce.
By Tony Obiechina, Abuja
The Infrastructure Concession Regulatory Commission (ICRC) says it will henceforth issue Outline Business Case (OBC) Certificate of Compliance and the Full Business Case (FBC) Certificate of Compliance within seven days.This follows the charge by President Bola Ahmed Tinubu to the Director General of the Commission, Dr Jobson Oseodion Ewalefoh “to accelerate investment in National Infrastructure through innovative mobilization of private-sector funding”.
President Tinubu also charged him to work assiduously to boost infrastructure development in Nigeria as part of the renewed hope agenda of the current administration.In view of the above, Dr Ewalefoh-led management team of the ICRC has streamlined the approval processes of the commission to issue its certificates of compliance within seven days. This will accelerate the turnaround time for approvals by the Commission.“In line with the charge of His Excellency, President Bola Ahmed Tinubu, GCFR, and following his Renewed Hope Agenda, we have streamlined and updated our approval processes to issue either of the Outline Business Case Certificate of Compliance (OBC) and the Full Business Case Certificate of Compliance (FBC) to Ministries, Departments and Agencies (MDAs) that meet the requirements within seven days.“This is part of efforts by the current administration to accelerate infrastructure development, bridge the infrastructure gaps and stimulate the economy through investment of private sector funds in Public Private Partnership endeavours.“By streamlining our processes, the Commission is in no way foregoing any of its stringent approval steps or key requirements, therefore, only business cases that are viable, bankable, offer value for money and meet all other requirements will be approved.“The ICRC cannot do it alone, therefore I implore all chief executives of MDAs to match our momentum and align with this charge of Mr. President to accelerate Infrastructure development and ensure that PPP projects are not stalled at any point but delivered within record time.“The Commission is ready to partner and collaborate with all MDAs to actualize this,” he said.In a statement by Ifeanyi NwokoActing Head, Media and Publicity on Monday the ICRC DG in August rolled out a six-point policy direction which among others, focused on accelerating PPP processes, boosting inter-agency collaboration and ensuring innovative financing.The ICRC was established to regulate Public Private Partnership (PPP) endeavours of the Federal government aimed at addressing Nigeria’s physical infrastructure deficit which hampers economic development.
By Tony Obiechina, Abuja
The federal government in the second quarter of 2024 generated a total of N1.56 trillion from Value Added Tax. This is a 9.11 percent increase from the N1.43 trillion in Q1 2024.
According to the National Bureau of Statistics report, local payments recorded were N792.
58 billion, foreign VAT payments were N395. 74 billion, while import VAT contributed N372. 95 billion in Q2 2024.“On a quarter-on-quarter basis, human health and social work activities recorded the highest growth rate with 98.44%, followed by agriculture, forestry and fishing with 70.26%, and water supply, sewerage, waste management and remediation activities with 59.
75%,” NBS reported.“On the other hand, activities of households as employers, undifferentiated goods and services producing activities of households for own use had the lowest growth rate with 46.84%, followed by Real estate activities with 42.59%.
“In terms of sectoral contributions, the top three largest shares in Q2 2024 were
manufacturing with 11.78%; information and communication with 9.02%; and Mining and quarrying with 8.79%.
“Nevertheless, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.00%, followed by activities of extraterritorial organisations and bodies with 0.01%; and Water supply, sewerage, waste management and remediation activities with and real estate services 0.04% each.
“However, on a year-on-year basis, VAT collections in Q2 2024 increased by 99.82% from Q2 2023.”
By Tony Obiechina, Abuja
Development Bank of Nigeria (DBN) has conferred its 2023 Award for Microfinance Bank with the Highest Impact on Start-Ups on Richway Microfinance Bank in recognition of its unwavering commitment to fostering entrepreneurship in the country.The award also attests to the micro lender’s dedication to empowering small businesses and driving economic growth through innovative financial solutions.
Since its inception, Richway Microfinance Bank has been at the forefront of providing accessible financial services to underserved communities. The bank’s focus on start-ups, particularly in the challenging economic landscape of Nigeria, has set it apart as a leader in the microfinance sector. By offering tailored loan products, savings and investments products with high returns, and business advisory services, Richway has enabled countless entrepreneurs and business owners to turn their ideas into thriving businesses.In 2023, the bank’s impact on start-ups was particularly profound. Through strategic partnerships and an in-depth understanding of the unique challenges faced by new businesses, Richway Microfinance Bank extended its reach, offering critical support to over 500 start-ups.These initiatives not only provided much-needed capital but also helped entrepreneurs and business owners build sustainable business models, manage risks, and scale their operations.Speaking on the award, the Managing Director of Richway MfB, Adenrele Oni, said the “DBN’s award represented a significant milestone for Richway in its sustained efforts to boost Nigeria’s economy and reflected the bank’s role in driving innovation and entrepreneurship, which are key drivers of Nigeria’s economic diversification efforts.”According to him, the award also underscores the importance of microfinance institutions in bridging the financial inclusion gap, particularly for small businesses that often struggle to access traditional banking services.While thanking the DBN’s management on the recognition of the micro lender’s support for MSMEs in 2023, Oni reiterated the bank’s commitment to continuing its mission of empowering entrepreneurs and contributing to Nigeria’s economic development.He assured: “As Richway Microfinance Bank celebrates this achievement; it remains focused on the future, with plans to expand its offerings and reach even more start-ups in the coming years.”
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