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Business News

UNIDO’s $60m investment programme to boost Nigeria’s industrialisation – FG  

The FG has said that the $60 million investment programme from UNIDO would help Nigeria to achieve inclusive and sustainable industrial development. 

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The Federal Government has said that the $60 million investment programme from the United Nations Industrial Development Organization (UNIDO) – the UNIDO Country Programme (2018-2022) would help Nigeria to achieve inclusive and sustainable industrial development.

Punch reported that the Minister of Industry, Trade and Investment, Niyi Adebayo, said that programme is in line with the Federal Government’s current economic and industrialisation priorities and agenda.

“We want to commend UNIDO for its sustained efforts in supporting Nigeria’s industrialisation drive. The Federal Government of Nigeria recognises UNIDO as a reliable partner which has continued to support the country’s efforts towards achieving inclusive and sustainable industrial development.

 “The new UNIDO Nigeria country programme, which comprises nine pragmatic areas, is in alignment with the Federal Government’s economic diversification and industrial development agenda. We believe that the full implementation of the new Country Programme will help Nigeria to achieve inclusive and sustainable industrial development.”

UNIDO’s $60m investment programme to boost Nigeria’s industrialisation - FG  

Edward Kallon

Adebayo said this during a roundtable with the Ministry of Finance, Budget and National Planning, in collaboration with UNIDO, in Abuja.

[READ MORE: Economy: FG restates commitment to border closure]

Speaking on the importance of industrialization, the Resident and Humanitarian Coordinator, United Nations System in Nigeria, Edward Kallon, said it is a critical tool for poverty reduction, job creation and economic prosperity. He said that the trajectory for inclusive and sustainable economic growth and development in Nigeria and Africa could only be possible with industrialisation.

What you should know: Nairametrics had previously reported when Jean Bakole led the UNIDO delegation to the Minister of Works and Housing, Babatunde Fashola to disclose the organisation’s plans to pump $60 million into agriculture and agro-based businesses, trade and capacity building, housing and construction, infrastructure development, energy and environment, among other sectors.

However, the minister, who was truly elated with Bakole and the move of UNIDO, suggested that the money should be infused into two or three critical areas for maximum impact instead of the nine sectors.

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

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Corporate Press Releases

DISCLAIMER: Ex-Cavendish MD distances self from alleged statement on OML 110

Alhaji Ibrahim Mai Deribe, a former MD of Cavendish Petroleum Limited, has dissociated himself from an alleged statement on OML 110.

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PUBLIC DISCLAIMER

My attention has been drawn to a statement with respect to OML110 and published online. This libelous statement purportedly originated from Cavendish Petroleum Limited and was allegedly authored by me whilst also falsely claiming that I, Alhaji Ibrahim Mai Deribe signed in the capacity of Managing Director.

I, Alhaji Ibrahim Mai Deribe, wish to state the following:

  • i. I have not authored any such statement in any capacity – personal or otherwise. I have also not caused another to write on my behalf neither have I had any just or probable cause to author such false, misleading and malicious statements with respect to the revoked OML110.
  • ii. I had also ceased to be the Managing Director of Cavendish Petroleum for a long time so to attribute a statement from me in that capacity or otherwise should be seen for what it is – a disdainful, calculated attempt by unscrupulous agents to mislead, malign and impugn on my integrity and that of others so mentioned for whatever sinister reasons.
  • iii. I completely dissociate myself from the false statement attributed to me and subsequent malicious report published on some faceless online sites without any proof to back it up whatsoever. The statement is highly libelous in its entirety.
  • iv. As far as I am aware, these malicious statements and report are not reflective of my opinion, thoughts or the true state of things based on the facts available.
  • v. Further, to the best of my knowledge, neither Cavendish Petroleum or anyone associated with the company has authorized or caused the publication of the said false statements.

I therefore wish to inform the public and other stakeholders that the purported statement is malicious against the persons mentioned, false, misleading and did not originate from me in any capacity. I fully dissociate myself from the purported, false and malicious report and urge the unsuspecting public and all stakeholders to disregard the statement in its entirety as I will not hesitate to pursue all legal means to prevent and protect my name and reputation from any further misuse and/or misrepresentation – in any capacity.

 

SIGNED:

_____________________________

Alhaji Ibrahim Mai Deribe

Former Managing Director, Cavendish Petroleum

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Financial Services

Growing performances demands have necessitated Bank’s Balance Sheet Management practices – CWG Plc

Balance Sheet Management practices Is needed to embrace advanced platforms and technologies.

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CWG Plc

CWG Plc has stated that the growing demand by banks to improve performances, increase transparency and comply with complex regulations has necessitated Balance Sheet Management practices to embrace advanced platforms and technologies.

The platforms are expected to provide greater data navigation and analytic capabilities to manage Risk, Returns & Capital.

This was disclosed by Business Director, FSI, Abayomi Olomu, in a statement issued by CWG Plc ahead of its Balance Sheet of the Future: Risk-Data-Analytics Conference on Wednesday.

READ: How the CBN sourced the $25 billion (N10 trillion) it lent the FG

According to him, the conference, which is organised in partnership with Surya software, a global Financial Control & Risk Management solution provider, will host key players in the Banking and Financial Services industry.

He said, “There is need to explore the role of Balance Sheet Management and Asset Liability Management in future considering the volatile and dynamic markets and how technology can be leveraged to manage these areas.  

”Banks have increased demands to improve performance, increase transparency and comply with newer and complex regulations. 

“These growing demands have necessitated Bank’s Balance Sheet Management practices to embrace advanced platforms and technologies that provide greater data navigation and analytic capabilities to manage its Risk, Returns & Capital.” 

READ: What banks can do to improve Real Sector Lending in 2021

He added that the ‘Balance Sheet of the Future’ conference amplifies CWG and Surya software’s commitment to deploy versatile solutions and technology platforms within the Nigerian and Ghanaian Financial Services market.

What you should know

The keynote address of the event will be delivered by Her Excellency, Zainab S. Ahmed, Honourable Minister of Finance, Budget & National Planning. There will be a guest address from Mr Pravat Dash, Senior VP – Head of Market Risk, Axis Bank which is one of the top private sector banks in India.

Some of the thought leaders from the Nigerian Banking and Financial Industry will also participate in the conference to discuss and share their views on the subject matter.

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