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NIPC collaborates with NSC to develop transport infrastructure projects

NIPC to collaborate with NSC in a drive to promote the development of transport infrastructure projects.

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NIPC collaborates with NSC to develop transport infrastructure projects

The Nigerian Investment Promotion Commission (NIPC) has announced plans to collaborate with the Nigerian Shippers’ Council (NSC) in a drive to promote the development of transport infrastructure projects in the country, including the Ibadan dry port and truck transit parks.

According to information made available on NIPC website and verified by Nairametrics, the Executive Secretary/CEO of the Nigerian Shippers’ Council, Mr. Hassan Bello was quoted saying that, “The Ibadan dry port, an 80,000 TEU capacity port would cost about $100m and a preferred bidder has been selected. We are in the process of making our ports automatic; we need to digitise our ports, make them contactless ports”.

Speaking further, Mr. Bello remarked that, the truck transit parks project would allow truck drivers to take breaks and get basic supplies during long trips. “It will have modern facilities for the servicing and repairs of haulage vehicles,” he said.

Commenting on the rationale of the deal, the Executive Secretary/CEO, NIPC, Ms Yewande Sadiku acknowledged the imperativeness of transport infrastructure projects and the catalysing effect they can have on the economy. She revealed that NIPC will partner NSC to advance the development of transport infrastructure projects, noting that NIPC’s mandate is largely advocacy.

“NIPC acts as a conduit for connecting investors and government agencies,” she said.

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(READ MORE: Lai Mohammed reveals what FG is using loans for)

Going forward, both Chief Executives agreed that collaboration is highly needed in their agencies and indeed all agencies of government to facilitate investments in the country.

Why this matters

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Recall that Nairametrics had earlier reported an admonition by the CBN governor, asking private investors to invest in infrastructure bonds. This according to him will boost the ease of doing business in the country by advancing the ease of transporting goods and services. It is also in line with the Executive Order No 7 of 2019 aimed at facilitating accelerated development and delivery of road infrastructure through a PPP.

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Business

FG upscales digital skills training, to train 500,000 youths

Ministry of Youths and Sports Development is set to scale up its digital skills training to cover 500,000 youths.

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President Buhari to address Nigerians on Lekki toll plaza shootings after investigation , Youth Investment Fund:  Ministry of Finance and CBN to launch provision of funds- Minister

The Ministry of Youths and Sports Development is set to scale up its digital skills training to cover 500,000 youths across the country after securing funding under the COVID-19 stimulus budget.

This information was shared by the personal Assistant on New Media to President, Bashir Ahmad.

What you should know

Recall that Nairametrics had earlier reported that the Federal Executive Council had approved the N2.3 trillion stimulus plan recommended by the Nigerian Economic Sustainability Plan.

Why it Matters

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Given the impact of the pandemic on income and business activities, the Federal Government of Nigeria, took a reactionary approach by instituting a COVID-19 stimulus budget.

In light of this, the ministry of youths and sports development has sought to tap from this fund for human capacity training and development, which in return has the potential to boost future income/profit and economic activities in general through impacting youths with the pre-requisite digital skills needed in the 21st century work place.

What they are saying

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Commenting on the latest development, the minister of Youths and Sports Development, Mr. Sunday Dare said: “The Economic Sustainability Plan (ESP) has taken into cognizance the DEEL initiative, and I am glad to announce that we have gotten approval for the funding of a 12-month programme under the initiative that will see 500,000 of our youths upskilled in different digital skills.

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Lagos sets up Graduate Internship Programme with a monthly stipend of N40,000 for youth beneficiaries

The State Government has launched a programme to help candidates develop skills that are needed in securing gainful employment.

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Bond: Lagos to rAN100 billion for infrastructural development, COVID-19: Lagos asks civil servants to stay at home, No public buses between 7pm and 6am, Okada ban takes effect from May 4 – LASG, No public buses between 7pm and 6am, Okada ban takes effect from May 4 – LASG, Sanwo-Olu gives incentives to businesses to prevent job loss, #EndSARS: Sanwo-Olu visits victims of Lekki shootings, promises to investigate incident , Lagos sets up Graduate Internship Programme with a monthly stipend of N40,000 for youth beneficiaries

Lagos State Governor, Babajide Sanwo-Olu, as part of efforts to reduce the rate of unemployment in Lagos State, has approved an internship programme for 4,000 unemployed graduates.

This was disclosed in a statement by the Honourable Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke via the official Twitter handle of the Lagos state government.

An excerpt from the statement reads,

As part of efforts to reduce the rate of unemployment in Lagos State, Gov. Babajide Sanwo-Olu has approved Internship Programme for 4,000 unemployed graduates in line with the T.H.E.M.E.S Agenda of the present administration and the Youth Development Programme of the State.”

Mrs Yetunde Arobieke said the Graduate Internship Placement Programme is designed to give candidates the opportunity to develop employability and work-ready skills that are needed in securing gainful employment.

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(READ MORE:Sanwo-Olu reads riot act to hoodlums over ethnic clash, promises compensation)

She added that the Internship Programme will be addressing the third and fourth pillars of the present administration’s T.H.E.M.E.S agenda.

What you should know

  • Applicants must possess NYSC Certificates or letters of exemption.
  • Applicants must be registered residents of the State with Lagos State Residents Registration Agency, LASRRA.
  • The Graduate Internship Placement Programme is for a period of six months, of which a monthly stipend of N40,000 will be paid for the duration of the internship.
  • Interested candidates can apply through the dedicated link for the programme: http://gipplasg.lagosstate.gov.ng.

Why it matters

The Graduate Internship Placement Programme is expected to play a major role in reducing the rate of unemployment in Lagos State. It will provide candidates, the opportunity to develop key skills that will boost their employability, in a bid to secure gainful employment.

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At the end of the programme, beneficiaries would have gained valuable work experience, built up their professional skills and would have been exposed to entrepreneurial opportunities to strengthen their professional skills and interpersonal relationships.

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Business

CBN discloses eligible businesses, those ineligible to apply for N75 billion Youth Investment Fund

The CBN has revealed businesses and applicants that are either eligible or ineligible to apply for the Nigeria Youth Investment Fund.

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The Central Bank of Nigeria (CBN), has disclosed businesses and activities that are eligible to benefit from the Nigeria Youth Investment Fund (NYIF), which was recently launched by the Federal Government. The apex bank also pointed out the applicants that are not eligible to apply to benefit from the funds.

This was disclosed in the framework for the implementation of the Nigeria Youth Investment Fund, published by the Central Bank of Nigeria and signed by its Director, Development Finance Department.

READ: CBN’s N50 billion loan: NIRSAL warns Nigerians against fake loan adverts

READ: NIRSAL MFB to offer loans to SMEs at 5% interest rate

Those Ineligible to apply

In the publication, applicants who are ineligible to apply for the funds, which is an initiative of the Federal Ministry of Youth and Sports Development are:

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  • Applicants that are currently enjoying NIRSAL Microfinance Bank (NMFB) loans – which includes Targeted Credit Facility (TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AgSMEIS) loans, that remains unpaid.
  • In addition, beneficiaries of other government loan schemes that remain unpaid are also not eligible to participate in this scheme.

READ: CBN introduces N250 billion stimulus package for gas investment to ease pain of fuel price increase

Eligible Businesses/Activities

The CBN also outlined in the framework, the businesses and activities that are legally allowed to be eligible in the scheme. These include;

  • Technology/Innovation
  • Agriculture and related value chain
  • Green Economy and Renewable energy sector
  • Manufacturing
  • Hospitality/Tourism
  • Construction
  • Logistics and supply chain
  • Healthcare value chain
  • Creative sector
  • Trading and services
  • Others as may be determined by NYIF/CBN from time to time.

READ: FG launches application for N75 billion Youth Investment Fund at 5% interest, how to apply

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READ: CBN reveals framework for the N75 billion Youth Investment Fund

The CBN, however, states that preference shall be given to enterprises that will support the growth of priority sectors, specifically those identified by the Economic and Recovery Growth Plan (ERGP) and the Nigerian Youth Employment Action Plan.

The Federal Ministry of Youth and Sports Development is expected to collaborate with relevant stakeholders to identify potential youths for training and mentoring. The youths that are duly screened (and undergo the mandatory training where applicable) shall be advised to log on to the portal provided by the NIRSAL Microfinance Bank (NMFB) to apply for the facility.

READ: Ruffer ’50 cent’ makes $2.6 billion, as Coronavirus strikes financial market

READ: NIPOST now set to deliver 2000 outlets for proposed NIRSAL MFB

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What you should know

The N75 billion Nigerian Youth Investment Fund was set up by the Federal Government to invest in the innovative ideas, skills, and talents of Nigerian Youth and to institutionally provide the Nigerian youth with a special window for accessing much-needed funds, finances, business management skills, and other inputs critical for sustainable enterprise development.

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The Federal Ministry of Youth and Sports Development is the lead implementation entity and is responsible for budgetary provisions and for funds mobilization.

READ: FG’s directive on IPPIS does not affect us – ASUU

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