Nigeria is missing on a list of 40 countries that improved regulatory environment for women’s economic participation over the past two years. This was disclosed in the World Bank’s study.
The study, “Women Business and the Law (WBL) 2020”, which measures 190 economies, tracking how laws affect women at different stages in their working lives. It also focused on those laws applicable in main business cities, judges the 40 countries on the enactment of 62 reforms that will help women.
Women are half of the world’s population: With women in many countries having only a fraction of legal rights men have, there is a need for reforms to aid the realization of their potential and help them contribute to economic growth and development, a new World Bank study has said.
David Malpass, President of the World Bank Group disclosed that legal rights for women are both the right thing to do and good from an economic perspective. He added that when women can move more freely, work outside the home and manage assets, they are more likely to join the workforce and help strengthen their country’s economies.
“We stand ready to help until every woman can move through her life without facing legal barriers to her success,” Malpass said.
In Nigeria, while the financial inclusion level is on the upswing, it is mostly men that are captured into the system, while women, across regions of the country, are affected by religious, cultural and educational factors, limiting their potential.
However, Nigeria may have attained some of the reforms, with the majority being mere norms and practices, a lack of full legislative backing and implementation is still a challenge to the achievement of the targets, while women’s economic participation continue to under-perform.
In Sub-Saharan Africa, 11 economies implemented 16 reforms in seven areas. The Democratic Republic of Congo introduced social insurance maternity benefits and equalized retirement ages, while in Côte d’Ivoire, spouses now have equal rights to own and manage property.
The World Bank study covered reforms in eight areas that are associated with women’s economic empowerment, conducted from June 2017 to September 2019, precisely on mobility, workplace, pay, marriage, parenthood, entrepreneurship, assets and pension.
Togo, Niger, Benin remit N2.04 billion to Nigeria for power supply
Nigerian Electricity Regulatory Commission says international electricity customers remitted the sum of N2.04billion to Nigeria in three months.
Nigeria’s international electricity customers – Togo, Niger, and Benin, remitted the sum of N2.04billion in the first quarter of 2020, as their outstanding electricity bill to the Market Operator (MO) of the sector in Nigeria.
This was found in the Nigerian Electricity Regulatory Commission 2020 first quarter report, which was released recently.
According to the report, a total of N4.05billion ($13.22million) invoices were issued by the MO to international customers including Societe Nigerienne d’electricite or NIGELEC; Societe Beninoise d’Energie Electrique (SBEE); and Compagnie Energie Electrique du Togo (CEET).
The commission stated that during the quarter, NIGELEC made a payment of ₦1.61billion ($5.27million) as part of its outstanding bills for the energy received from NBET and services rendered by the MO.
It stated, “Similarly, SBEE paid ₦0.43billion ($1.39million) in respect of services received from MO.
“It was noteworthy that tariff shortfall (represented by the difference between actual end-user tariffs payable by consumers and the cost-reflective rates approved by NERC) had partly contributed to liquidity challenges being experienced in the industry.
“The settlement ratio to the expected Minimum Remittance Thresholds, having adjusted for tariff shortfall, indicated that power distribution companies needed to improve on their performance.”
Special customers like Ajaokuta Steel Co. Ltd and others in its environs did not make any payment in respect of the N0.27billion and N0.05billion invoices issued to them by the Nigerian Bulk Electricity Trading Plc and the MO respectively, during the period under view.
Meanwhile, the power distributors failed to remit N119.88billion to the sector within the same period.
“Whereas Discos were expected to make a market remittance of 46.09% during 2020/Q1, only 32.53% settlement rate was achieved within the timeframe provided for market settlement in the Market Rules,” it added.
What it means: The Discos’ remittance level, regardless of the prevailing tariff shortfall, was still below the expected MRT and they are expected to improve on their performances.
#EndSARS: Protests may return if panels do not address all issues in 2 weeks – Former Nigerian Minister
Akinyemi says the #EndSARS protesters would return to the streets if their demands are not addressed in two weeks.
COVID-19: Jason Njoku and wife test positive
iROKOtv CEO and wife have contracted the novel coronavirus.
Jason Chukwuma Njoku, the co-founder and CEO of iROKOtv and his wife has tested positive for COVID-19. However, Mrs. Mary Njoku is feeling well.
Jason, disclosed this via his Twitter handle stating that “My enemies are hard at work in 2020. Mrs. Njoku and I tested positive for Covid-19. I’m not feeling great, but Mary is well. Literally no idea how I caught it. But we shall see this pass too.”
The media mogul did not reveal if his children caught the virus too.
My enemies are hard at work in 2020. Mrs Njoku and I tested positive for Covid19 😩. I'm not feeling great but Mary is well. 😷🤢. Literally no idea how I caught it. 🤷🏾♂️. But we shall see this pass too🙏🏾. pic.twitter.com/tnsP1BCPBB
— JasonNjoku (@JasonNjoku) October 28, 2020