Connect with us

Business & Economy

Requisite Skills Way To Go To Fixing Unemployment – Sir Air

Published

on

Share

Sir Joseph Ari, Director General of the Industrial Training Fund (ITF) on Thursday said adequate acquisition of relevant skills by Nigerians will go a long way to address the nation’s unemployment problem.

Sir Ari, said this at a press conference on ITF-NECA Technical Skills Development Project (TSDP) and the signing of Memorandum of Understanding with participating organisations in Abuja, Nigeria’s capital.

TSDP, is a joint initiative by the Industrial Training Fund (ITF) and Nigeria Employers’ Consultative Association (NECA) designed to promote the availability of middle-level manpower with the appropriate Technical and Vocational Skills to meet the identified needs of industries in the country.

Ari, said that unemployment in Nigeria is occasioned by lack of skills acquisition and skills mismatch, adding that sometimes where job vacancies exist, there are no Nigerians with requisite and technical know-how to fill them

He said: What you are about to witness is the perfect example of how the public private partnership can work. The two body that is the Nigeeia Employers’ Constructive Association (NECA) and Industrial Training Fund (ITF) have been advocating for this country to delve into Technical and Vocational Education and Training (TVET) but out calls have always fallen on deaf ears.

However, of recent, we have seen members of both the public and private body taking a cue and falling in line and listening to these yearnings and clarion calls from NECA and ITF.

“For the avoidance of doubt, this is the only direction to go, if we are to fix the infrastructural deficit and get our people empowered with requisite skills.

“This is what other nations in other climes have done to get to where they are and where they are now today known as the first world. The are where they are today on account of TVET and we cannot be left behind.

“Paper qualification is good but without skills you can’t fix infrastructure. Therefore, we shall continue to sing this clarion call, until all Nigerians embrace technical skills as the way to go in fixing the rots in our country.”

Speaking further on the Technical Skills Development Project, Sir Ari said the scheme has produced over 54,000 technicians in various vocations since inception twelve years ago.

He also explained that some of the trainees of the project have been provided with business start-up grants while others were linked to corporate employers for direct employment.

“From mere six participating organizations that trained and graduated 285 highly skilled technicians when it commenced in 2010, the project today boasts of having supported fifty-nine participating organizations and technical colleges with machinery and technical equipment, while also graduating 54,603 highly skilled technicians that are either employed in corporate organizations or have become entrepreneurs that are employing others,” Sir Ari said.

Ari, however, identified funding constraints, high rate of unemployed youths that the project cannot absorb, lack of awareness and infrastructural deficit as some of the challenges confronting the scheme.

Speaking on the sidelines, Director, Learning Development and Project, NECA, Celine Oni said for the 12 years the project has been on, there has been positive good results which is very evident.

She said: “This project was conceived based on lack of skills in our economy and surveys conducted by the ITF and NECA in 2009 and several other surveys therefore, confirmed the fact that we had low capacity level, lack of skills and huge unemployment in our country.

“The project rose to the call to address this issues and we decided to contribute our own bit to solving this national problem and so far we are very happy that in the twelve years of the project, they have improved results.

“Over 54,000 youths so far in the project have graduated as competent technicians that are either working in organisations currently or are running their businesses and are now Employers of labour.

Oni, further said the Memorandum of Understanding signed by 30 participating organizations is to ensure global standard training for trainees to enable them compete globally.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business & Economy

N’Assembly Positioning Nigeria For One Trillion Dollar Economy by 2030 – Bamidele  

Published

on

Senate Leader, Michael Opeyemi Bamidele
Leader of the Senate, Senator Michael Opeyemi Bamidele
Share

The Leader of the Senate, Senator Opeyemi Bamidele on Tuesday reeled out the accomplishments of the 10th National Assembly, saying the upper chamber had been passing diverse laws aimed at creating an environment for economic competitiveness and positioning Nigeria for a $1 trillion economy by 2030.

Bamidele, currently representing Ekiti Central, added that many of these legislative initiatives are already making a difference in the daily lives of the citizenry and the collective prosperity of the country.

He made these remarks yesterday at a meeting with the delegation of the United Kingdom Parliament held at the conference room, New Senate Wing, National Assembly Complex, Abuja.

Led by MP Kate Osamor of Edmonton & Winchmore Hill, the delegation comprises a member of the Parliament for Dumfriesshire, Clydesdale & Tweeddale, Rt. Hon. David Mundell; member of the Parliament for Westminster North; Dame Karen Buck; member of the House of Lords; Lord Jonathan Oates; member of the Parliament for Worthing West; Dr Beccy Cooper and member of the Parliament for Plymouth Moor View; Rt Hon. Fred Thomas, among others.

At the session with members of the UK Parliament, Bamidele explained that the National Assembly would continue to play pivotal roles in building a resilient economy and functional political system, which guarantees the security of the citizenry.

He said: “Since the birth of the 10th Senate about two years ago, I have been discharging the duties of my office with modest records of accomplishment. One of such accomplishments is the timely passage of key legislations, particularly in the areas of fiscal reform and national security

“By engaging my colleagues across all political divides, we have successfully passed laws aimed at creating an environment for economic competitiveness and positioning Nigeria for a $1 trillion economy by 2030. I am proud to say that many of these legislative initiatives are already making a difference in the daily lives of our citizens.

“As we look towards the future, we remain deeply committed to strengthening Nigeria’s democratic institutions and ensuring that the National Assembly continues to play its pivotal role in building a resilient economy and a functional political system that guarantees the security of all.”

Bamidele disclosed that the nation’s parliament is building synergy with different parliamentary associations and institutions across the world to address the dearth of institutional capacity.

In her own presentation, the leader of the delegation, MP Kate Osamor, solicited for inclusion of more women in the National Assembly to address the existing gender gap in the nation’s electoral offices.

Osamor said: “We have to make sure more women are in the parliament. Every society is a reflection of elected representatives.”

On the issue of gender sensitivity, the senate leader promised the delegation that the 10th Senate would give priority attention to the issue, recalling that the 9th Senate was almost resolving the issue before it came to an end in June 2023.

 

 

 

Continue Reading

Business & Economy

CBN Stops Free Withdrawals For Customers Using Other Banks’ ATMs

Published

on

CBN Headquarters Abuja
CBN Headquarters Abuja
Share

The Central Bank of Nigeria (CBN) says charges will now apply anytime customers use the Automated Teller Machines (ATMs) of banks other than theirs.

This was contained in a circular dated February 10, 2025, and addressed to all banks and financial institutions, the apex bank’s acting Director of Financial Policy and Regulation Department, John Onojah.

“The three free monthly withdrawals allowed for remote-on-us (other bank’s customers/not-on-us consumers) in Nigeria under Section 10.6.2 of the Guide shall no longer apply,” the circular partly read.

The CBN directed banks and other financial institutions to apply the following charges with effect from March 1, 2025.

The apex bank said while customers withdrawing at the ATMs of their banks and financial institutions won’t be charged, customers withdrawing from the ATM of other banks would now be charged ₦100 per every ₦20,000.

The CBN said for off-site ATMs — automated teller machines not on a bank’s premises – like those at shopping malls, eateries and other public places — a surcharge of not more than ₦500 per every ₦20,000 will apply in addition to the statutory ₦100 fee for withdrawals by customers of other banks’ ATMs.

The apex bank attributed the reviewed charges to rising costs and the need to improve the efficiency of ATM services in the country.

“This review is expected to accelerate the deployment of ATMs and ensure that appropriate charges are applied by financial institutions to consumers of the service,” the circular stated.

 

Continue Reading

Business & Economy

Senate Passes MTEF/ FSP, To Probe N8.4tn Withheld Subsidy Funds By NNPCL

Published

on

Nigerian Senate
Share

The Senate has passed the 2024 – 2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for implementation by the Federal Government.

The passage followed the presentation of a report by the chairman of the Joint Committees on Finance and National Planning & Economic Affairs presented by Sen. Musa, Mohammed Sani (Niger East).

The senate also tasked its Committees on Finance and Petroleum as well as Gas to investigate allegations of withheld funds by the NNPC, including NGN 8.48 trillion in petrol subsidies, and $2 billion (NGN 3.6 trillion) in unpaid taxes.

The allegation was highlighted by reports from the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Revenue Mobilization, Allocation, and Fiscal Responsibility Commission.

The development comes following the Office of the Auditor-General of the Federation, saying it had received the necessary and complete documents required to verify the N2.7 trillion fuel subsidy claim by the Nigerian National Petroleum Company Limited against the government.

The Senate approved the exchange rate projection of 1,400 USD for 2025-2027 with a provision for review in early 2025, based on prevailing monetary and fiscal policies.

They also resolved that any excess on the official figure would be used for debt servicing.

During the debate on the report submitted by the Chairman Senate Committee on Appropriations, Senator Sani Musa (APC, Nigeria East ), the Lawmakers also demanded a reduction in the petrol prices against the backdrop of the commencement of the Port Harcourt Refinery.

Chairman of the Senate Committee on Appropriations, Senator Adeola Olamilekan referenced the Federal Government’s Compressed Natural Gas initiative as the underlying imperative for the adoption of the N1400 to one dollar.

According to him: “With the functioning of our refineries the demand for Forex will drop. With the CNG initiative, Nigerians will have an option for your information if you leave Benin to Lagos the amount of fuel is about 130 thousand but with CNG you can’t use more than 48 thousand Naira. Another issue to be addressed is the recurrent to-capital ratio which is very high.

The need to support the manufacturing industries was also raised by Senator Yahaya Abdullahi, of the Peoples Democratic Party, Kebbi North if the projections of the MTEF are to be achieved.

In their resolutions, the Senate also adopted inflation rate projections of 15.75, 14.21 and 10.04 per cent for 2025, 2026 and 2017 respectively.

According to the recommendations, “The 2025 Federal Government of Nigeria budget proposed spending of N47.9trilion of which N34.82 trillion is retained. New borrowings stood at N9.22tn, made up of both domestic and foreign borrowings.

Capital expenditure is projected at 16.48 trillion naira with statutory transfers standing at 4.26 trillion naira and sinking funds projected at N430.27billion.

 

Continue Reading