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NBS’ll Begins MPI Report Dissemination 2023 – Statistician General

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The National Bureau of Statistics (NBS), says it will begin the zonal dissemination of its MPI Report in January 2023.

Statistician General of the Federation and Chief Executive Officer of NBS, Mr Semiu Adeniran, said this at the 2nd Bi- National Consultative Committee of Statistics (NCCS) on Wednesday in Lagos.

The theme for the meeting is; “The Direct Implication of Sectorial Statistics in Curbing Inflation”.

Highlights of the 2022 Multi-dimensional Poverty Index survey by NBS reveals that 63 per cent of persons living within Nigeria (133 million people) are multidimensionally poor.

The national MPI is 0.257, indicating that poor people in Nigeria experience just over one-quarter of all possible deprivations.

Adeniran said that under the process, the results of each state in the respective zones would be presented in more detail.

He noted that the MPI report would have details such as methodology and computation process that would be explained further.

The Statistician General said that the bureau’s MPI Report includes the Nigerian Living Standard Survey (NLSS) and the Nigerian Labour Force Survey (NLFS) which together with World Bank would also provide detailed household information and insights into labour and welfare conditions in the country.

According to him, NLSS will provide detailed information on household consumption, education, health, employment, housing conditions, assets, household enterprise and other key non-monetary indicators of welfare.

On the other hand, he said that the NLFS is a strategic survey designed to collect and analyse labour market statistics for the country, including the generally understood and widely anticipated headline unemployment and underemployment rates.

“While the unemployment and underemployment rates are very important figures that indicate the number of persons economically engaged, the NLFS also contains a lot more equally interesting and important information that offer useful insight into the health of the labour market in Nigeria,” he said.

Adeniran said that under the process, the results of each state in the respective zones would be presented in more details, including the methodology and computation process explained further.

“In doing this, it is our hope that executives will have a much better understanding and interpretation of the results and be better placed to apply them in their budgeting and policy decision making processes.

“This will assist to alleviate poverty and deprivations in their states,” he said.

He said that the meeting would seek to provide updates and harmonise statistical activities, and discussions as well as reflexions on how to move the statistical system in Nigeria forward, with each member, playing their respective parts.

Adeniran said that the theme for the meeting; “The Direct Implication of Sectorial Statistics in Curbing Inflation”, is extremely fitting for the current times in the country.

According to him, inflation has become an issue of major concern all over the world.

Adeniran said that the impact of inflation on households and businesses both within and outside the country cannot be ignored.

“You only need to listen to some of the numbers and headlines emanating from some African nations and beyond, to fully understand the severity of the global situation we are facing.

“In Ghana, Ethiopia and Rwanda, inflation for the month of October was reported at 40.4 per cent, 31.7 per cent and 31 per cent respectively.

“Countries in the West are also reporting record inflation figures, with the UK recording its highest rate of 11.1 per cent, since 1981, a high of forty years.

“With these high levels of inflation, we can best imagine the effects on household consumption and poverty levels in those countries, and the report of this effect is all over the news if we simply look,” he said.

He, however, noted that the bureau was working hard to support government along these lines.

Adeniran charged the participants on the need to remain relevant and collaborate to move forward the bureau, particularly into the new year for a professional and independent assessor of socio-economic conditions in the country.

Also, in his remarks, Chairman of Governing Board, NBS, Dr Kabiru Nakaura, said the task of the meeting was to meet the need of good and realisable statistics across all tiers of government for informed decision and policy making.

“Hence, it is pertinent for all countries to have established statistical agencies such as the National Bureau of Statistics in the case of Nigeria, whose work it is to collect, process and disseminate such statistics.

According to him, planning and evidence based policy making can only be effective when statistics is promoted as a tool for development.

He advised participants to work with the Chairman and Statistician General of the Federation in sharing experiences and exchanging ideas on issues affecting the NCCS, thereby improving the quality of data produced by its various members. (NAN)

BUSINESS

Local Content: NCDMB Holds Knowledge-Sharing Session with Mozambique

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From Mike Tayese, Yenagoa

In keeping with Nigeria’s leadership role in the development of Local Content in Africa, the Nigerian Content Development and Monitoring Board (NCDMB) has concluded a two-day Local Content development experience-sharing session with a delegation from Mozambique’s national oil company, Empresa Nacional de Hidrocarbonetos (ENH).

The engagement was held on the sidelines of the 8th Sub-Saharan Africa International Petroleum Exhibition & Conference, in Lagos.

NCDMB’s delegation was led by the Executive Secretary, Engr.

Felix Omatsola Ogbe, while Mozambique’s team was led by the Chairman of Empresa Nacional de Hidrocarbonetos, Mr.
Estevao Rafeal Pale.

The experience-sharing session was facilitated by Aberdeen Global Strategies & Solutions, under the leadership of Dr. Mark Osa Igiehon, who consults for ENH Mozambique.

In his introductory comments, the Executive Secretary conveyed NCDMB’s commitment to supporting African oil-producing nations in developing and implementing local content policies as a strategy for improving indigenous participation and value optimization from hydrocarbons and mineral resources.

He lauded the giant strides recorded by Mozambique in its gas sector and advised against repeating the mistakes made by Nigeria in the early years of its oil and gas industry.

Represented by the Director of Monitoring and Evaluation, NCDMB, Mr. Abdulmalik Halilu, the Executive Secretary explained that every oil and gas-producing nation must choose to either focus on optimizing revenue generation or maximizing in-country value from the activities of the industry.

He stated that the revenue generation option encourages oil and gas operators to seek the cheapest and fastest route to first oil, while the Government collects maximum revenue in the form of taxes and royalties for development and pays little attention to value addition from industry operations.

He explained that the alternative option focuses on maximizing in-country value and promoting the development and use of local capacities. This model obligates operators in the industry to consider long-term value, while the Government takes lower revenue in exchange for higher in-country value and pays greater attention to life-cycle support for operators.

Speaking further, the NCDMB boss listed key parameters that are critical to in-country value addition and growth of the oil and gas sector on a sustainable basis. These factors are Regulatory Framework, Gap Analysis, Capacity Building, Funding and Incentives, Research and Development, and Access to Market.

He hinted that a Local Content policy backed with appropriate legislation is very fundamental in local content practice, adding that baseline and periodic gap analyses are essential to determine gaps that need to be closed in the areas of skills, facilities and infrastructure.

He also stressed the need to develop in-country capacities and capabilities and utilise them through oil and gas projects.

The knowledge-sharing programme also featured a presentation on Funds and Funding of NCDMB, delivered by the Director of Finance and Personnel Management, NCDMB, Dr. Obinna Ofili.

The Director was represented by the Head, Credit Analysis and Risk Management, Mrs. Chika Enwerem–Okidi, and underlined the need for dedicated funding that would be applied to developing local content in the oil sector.

The Director mentioned that the Nigerian Content Development Fund (NCDF) is provided for in section 104 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and is contributed by 1% of every contract awarded in the upstream section of the oil and gas industry.

He added that the NCDF has been deployed in several successful projects, including the building of human and material capacities, the $350 million Nigerian Content Intervention Fund, the ongoing development of the Nigerian Oil and Gas Parks Scheme (NOGAPS), the construction of the NCDMB 17-story corporate headquarters, and 3rd party investments, many of which created jobs for Nigerians and yield interest for the Board.

The second day of the knowledge-sharing programme featured presentations on the operating framework for planning, research and statistics, capacity building, projects certification and authorization and monitoring and evaluation.

The Director of Projects Certification and Authorization, Engr. Abayomi Bamidele highlighted NCDMB’s role in the award of contracts for oil and gas projects and how opportunities are captured for the local economy, using the Nigerian Content Plan and the Contracting Strategy submitted by operating companies for the Board’s review and approval.

He underlined that local content should be promoted as a national agenda for every country and the right data must be collected to establish current realities and gaps to the target.

He emphasised the need for in-country capacity building based on areas of strengths and weaknesses as well as continuous projects to keep the developed capacities engaged.

The knowledge-sharing programme was very interactive and the Mozambican officials sought clarifications on the Board’s model of enforcing Local Content Compliance, monitoring projects, supervising third-party investments, and many other areas.

The programme was convened in line with the Sectorial and Regional Market Linkage Pillar of the Nigerian Content 10-year strategic roadmap. The roadmap requires NCDMB to support other African oil-producing countries and to develop new markets and partnership opportunities for the benefit of competent Nigerian operating and oil service companies.

NCDMB has provided similar guidance to numerous African nations, including Senegal, Tanzania, and Uganda.

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BUSINESS

NAICOM, Ministry Collaborate on Youth Career Development, Entrepreneurship

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Tony Obiechina, Abuja

The Minister of State, Federal Ministry of Youth Development Mr. Ayodele Olawande paid a courtesy visit to the Commissioner for Insurance Mr. Olorundare Sunday at NAICOM’s headquarters in Abuja.

The purpose of the visit was to discuss potential collaboration opportunities between the Ministry and NAICOM in advancing youth development initiatives, particularly in the areas of financial literacy, entrepreneurship, and career development.

The Commissioner for Insurance in his remarks welcomed the Minister and gave a brief history and overview of the Nigerian insurance industry, the administrative structure of the Commission as well as its achievements in the area of financial inclusion, transition to risk-based supervision and IFRS 17, setting up of the West African Insurance Supervisors Association and the College of Insurance Supervisors of the West African Monetary Zone.

The Minister for State in his remarks thanked the NAICOM Management for the warm reception. He expressed his desire for the Ministry to collaborate with NAICOM in engaging the Nigerian youth formally and informally to develop their skills.

He noted that the Ministry had developed a digital platform (app) called Nigerian Youth Academy (NIYA) where Nigerian youth could learn vocational and digital skills.

He requested to collaborate with NAICOM in the building of insurance educational module to be uploaded on the NIYA platform as this will go a long way in training the youths and improve their level of financial literacy, help in entrepreneurship and job creation, career development and sensitise youth on the benefits of insurances.

The CFI promised to convey the Minister’s request to relevant parties (The Chartered Insurance Institute of Nigeria and the College of Insurance and Financial Management) within the Nigerian Insurance Industry.

NAICOM Boss Olorundare Sunday (r) with the Minister of State for Youth Development, Mr. Ayodele Olawande during a courtesy visit

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Economy

We Currently have $30bn Investment Commitments – FG

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The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, says Nigeria currently has about 30 billion dollars investment committment from various investors.

Uzoka-Anite said this at the ongoing Ministerial Media briefing in Abuja on Friday.

According to her, the commitments will be redeemed over the course of five to eight years.

She said investments, commitments, and pledges were also received from our oil and gas free zone, adding that last week, some of them committed an additional 10 billion dollars in investments.

“I hosted the managing director of SHELL who explained to me about the investment plans of shell.

“ I know a lot of us are aware that shell is leaving; he came to explain to me what they mean by that.

And I can tell you that they are not leaving.

“Rather, they are expanding and increasing their investments in Nigeria; they are selling their onshore assets and increasing their investment in gas and offshore assets.” she said.

Uzoka-Anite, who envisaged more investments into the country, said  it would not have been possible without the commitment of President Bola Tinubu led administration.

She said that with increased investments comes job opportunities and economic growth, which wss part of the priority of the government. (NAN)

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