BUSINESS
NIPC, ACCI Move to Establish Investment Academy
By Tony Obiechina, Abuja
The Nigeria Investment Promotion Council (NIPC) and Abuja Chamber of Commerce and Industry (ACCI) have agreed to establish an Investment Academy to train Nigerians on ways to attract investment opportunities to Nigeria.
The Executive Secretary of NIPC, Mr Emeka Offor, who visited ACCI with his team on Tuesday, said the proposal to establish the academy in partnership with ACCI has been long overdue and they have come to resuscitate and finalize the agreement.
According to the NIPC ES, “We are here on our earlier proposal on how to resuscitate an early investment academy in partnership with ACCI on investment promotion.
The aim of the academy is to train and equip Nigerians in the area of ICT, investment promotions, others and to empower investment promotion program for state.”Mr Offor said the mandate of NIPC among many others is to provide required information for investors and also get feedback on how the business environment in Nigeria is fairing.
He further said that NIPC has done all that is within its power to facilitate the process of investment and investment activities, and to also make recommendations to the government on way of improving the business environment through linkage of MSMEs to demands.
The ES further said, “We need collaboration to attract investment and investors to Nigeria because we cannot do it alone and since we know that ACCI is a foremost Chamber in Nigeria due to the membership, we are collaborating with the Chamber to move Nigeria investment opportunities forward. Our collaboration with you includes the need to share information because their available information with you that we need and the same with us.”
He added that one of the key roles they play as a commission is to project positive image of investment and we need to educate Nigeria to market their country because we don’t have it better in other clime but they market their countries well.
The President ACCI, Dr Al-Mujtaba Abubakar, who received the team lauded the initiative while urging NIPC to look in-house for the training adding that Nigerians have a lot to do in marketing our country to investors from other countries in other to attract foreign investment.
Dr Abubakar who said the Chamber has four Centre namely; Abuja Trade and Convention Centre (ATC), Dispute Resolution Centre (DRC), BEST Centre and Policy Advocacy Centre (PAC), added that all training activities are domiciled with the BEST Centre while urging NIPC to work very closely with the Centre for the establishment of the Investment Academy.
“Our Centre has been adopted by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA). Presently, we have established association and linkages with business groups, trade associations, international Chambers, government agencies, trade offices and foreign embassies, etc. in order to accomplish our goal of enhancing sustainable growth and development of businesses in the FCT and environs”.
The Director General ACCI, Victoria Akai, reaffirmed that the past administration of the Chamber had worked on a draft document for the establishment of the Investment Academy. She assured members that the MoU between ACCI and NIPC for the setting up of the academy would be fast-tracked.
“We were almost there, we spoke to the experts on train-the- trainers, and we will continue from where we stopped to make it a success.” She said.
In a statement by ACCI Media/Strategy Officer, Olayemi John- Mensah on Wednesday, both parties renewed their commitments towards enhancing partnership on several projects that will improve the country’s investment landscape.
At the end of the meeting, a four-man committee was constituted to work on the final agreement for the establishment of the Investment Academy.
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)
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)
Yuletide: Bode George Urges Tinubu to Reduce Petrol Price
ShareChief Bode George, a former Deputy National Chairman of the Peoples Democratic Party (PDP), has urged President Bola Tinubu to...
Tinubu Set for Groundbreaking of Renewed Hope City in Lagos
Share President Bola Tinubu, is set to perform the groundbreaking of 2,000 housing units of the Renewed Hope City in...
Gov. Alia Presents N550.1bn as 2025 Budget Estimate to Benue Assembly
ShareGov. Hyacinth Alia on Wednesday presented the sum of N550.1bn as the 2025 appropriation bill to the Benue State House...
Tax Bills: NASS will not Betray the Trust of Nigerians, says Akpabio
Share The President of the Senate, Sen. Godswill Akpabio, says the National Assembly will prioritise the interest of all Nigerians...
Alia Has Demonstrated Capacity, Courage to Entrench Good Governance—Speaker
Share The Speaker, Benue Assembly, Mr Hyacinth Dajo, has said that Gov. Hyacinth Alia has so far demonstrated capacity, courage,...
Investors Gain N183bn on NGX
Share The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion. Accordingly, the market capitalisation, which...
Energy, Solid Minerals Top Priority, Tinubu Tells German Businessmen
Share President Bola Tinubu, on Wednesday, assured the German government and businessmen of Nigeria’s preparedness to expand frontiers for investors...
Nigerian Who Wrote WASSCE 17 Times Bags Distinction from London School
Share Dr Emmanuel Ahmadu, a Nigerian who wrote the West Africa School Senior Certificate Education 17 times, has earned a...
INEC Staff Welfare Association Warns Members Against Manipulating Election Results
Share The Abia Chapter of the INEC Staff Welfare Association (ISWA) has warned its members to uphold the integrity of...
Bill for Compulsory Counselling, Training of Convicts Scales 2nd Reading
ShareA bill to amend the Corrupt Practices and Other Related Offences Act, 2000, has successfully passed its second reading in...