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Economy

Scholars unveil book in honour of former NDA commandant

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No fewer than 52 scholars on Thursday, unveiled a book titled, “Warfare Command and Capacity Building” a festschrift in honour of retired Maj.-Gen. Ibrahim Yusuf, the immediate past Commandant, Nigeria Defence Academy (NDA).

The book presentation, which was done at the Nigerian Army Resource Centre, had in attendance the immediate past Chief of Army Staff, Lt.

-Gen.
Faruk Yahaya and representatives of the Defence and service chiefs.

The book was re-edited by five scholars led by the Provost of the Mational Defence College Centre of Strategic Studies and Research, Prof. Adams Ahmed.

Others are Prof. Jacob Akindapo, Onipe Yahaya, Nkechi Egbe and Bem Audu.

Speaking on the book and the honouree, Lt.

-Gen. Yahaya described Gen. Yusuf as a professional military officer who gave his best to the development and advancement of the Nigerian army and capacity development of personnel.

He said that Yusuf was one of the senior officers that assisted him to succeed as army chief and when he served as theatre commander in the northeast.

Yahaya said the book captured three main areas of command, welfare and capacity building.

He said that Gen. Yusuf was versatile in all areas while in service.

“If you excel in command, you have perhaps excelled in everything and the celebrant has succeeded as commander.

“These three key areas are necessary for somebody to succeed, not only in the military but in life,” the former COAS said.

In his remarks, Yusuf said the driving force behind the book was to give back to the army, the armed forces and the country that had invested so much in developing his capacities.

He said a lot was invested to develop his capacities right from the Army Children School to Nigerian Military School and NDA.

According to him, what the scholars have done is collate all his experiences, particularly in counterinsurgency and counterterrorism operations to enable younger generation of officers to learn from.

“So bringing our experiences, we focus on the capacity building of the future generation of officers for armed forces and already we are seeing the impact of what this capacity building programme is doing.

“For example, one of the officers out there, a naval officer while on exercise, a personnel fell overboard. This naval officer who has been trained in the amphibious aspect was able to jump into the water and under 18 minutes, rescued this rating.

“We are beginning to see the exploits that the young officers that just left NDA are making barely one year ago. We are getting the feedback of their exploits in the field.

“The ones from NDA that we sent to the Royal Military Academy, Sandhurst, you saw on the documentary there they are still on training but have won laurels, which shows that the training they are receiving in the academy in Nigeria is yielding the desired outcome,” he said.

Prof. Ahmed who led the editing of the book said the focus was on making impact in whatever responsibility one is given.

He said the book would assist writers to do scholarly work on the armed forces of Nigeria and the military generally, in view of scarcity of materials in this area.

The Book Reviewer, Prof. Oloabasi Akpan, said the book  had 51 chapters written by 52 authors and edited by five scholars with in-depth scholarly works covering different areas.

Akpan said that the first chapter captured the profile and early life of Maj.-Gen. Yusuf who grew through the ranks in the army and retired as a general and commandant of the nation’s elite military institution.

The News Agency of Nigeria (NAN) reports that several individuals including Yusuf’s superiors, subordinates and course mates poured encomium on him

Economy

Minister Says Upgrading MAN to Varsity will Unlock Maritime Opportunities 

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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)

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Economy

Investors Gain N183bn on NGX

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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)

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Economy

Yuan Weakens to 7.1870 Against Dollar

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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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