The Central Bank of Nigeria (CBN) yesterday said 80 per cent of Nigerian youths are still unemployed.
This is despite repeated figures released by the National Bureau of Statistics (NBS) stating that the Nigerian economy had been creating millions of jobs in the past years.
Only last week, the NBS announced that the economy created about 1.2 million jobs in 2013 fiscal year.
But the Special Assistant on Sustainable Banking, CBN, Dr. Aisha Mahmood, disclosed that unemployment was still a severe threat to Nigeria’s economy.
Mahmood spoke while delivering a paper on Nigerian Sustainable Banking Principle during the 2014 World Environment Day programme organised by the Federal Ministry of Environment in Abuja.
She said, “As the population is growing, the resources that we all depend on, the food, energy, water, is declining. The demand for these resources will rise exponentially by the year 2030, with the world needing about 50 per cent more food, 45 per cent more energy and 30 per cent more water.
“In Nigeria, there is the issue of youth and employment. 70 per cent of the 80 million youths in Nigeria are either unemployed or underemployed. We are all witnesses to what happened recently during the immigration recruitment exercise and this is simply because 80 per cent of the Nigerian youth are unemployed,” she added.
Mahmood noted that currently Nigeria’s economy is the largest in Africa, adding that the country is using fossil fuel to achieve this growth trajectory.
She stated that Nigeria’s economic growth was as a result of its abundant oil reserves, and warned that the flaring of gas from oil may negatively affect citizens in the country if not properly managed.
She said, “Nigeria has been flaring gas since the discovery of oil in the 1950s. We produce and burn about 20 billion cubic meters of gas annually and this is enough to meet our energy need. Remember we said we don’t have electricity, whereas we can provide electricity with this gas that we flare. And also when we burn this gas, we produce green house gases that affect our livelihood and the livelihood of people that live around that area.”
The CBN special assistant also lamented the high number of persons living below the poverty line in Nigeria as well as the about 120 million persons in the country that still lack access to electricity.
According to her, the above reasons were some key issues why the financial sector came together to develop and adopt the Nigerian Sustainable Banking Principle.
In her remarks, the Minister of Environment, Mrs. Laurentia Mallam, explained that the 2014 WED was targeted to address climate change and the impact of sea level rise on the environment.
She said, “In Nigeria, the impacts of climate change are manifested by erosion and landslides in the East, drought and desertification in the North, rising sea levels in the coastal areas and flooding across the nation. The transformation agenda of Mr. President in the environment sector is aimed at addressing all forms of land degradation through specialized projects.”
Meanwhile, two days after assumption of office, the new Governor of the Central Bank of Nigeria (CBN), Mr. Godwin I. Emefiele, has kept his promise to unfold his agenda, yesterday.
Addressing a world press conference at CBN Headquarters in Abuja, Emefiele promised that his administration would create a People-Centered Central Bank and ensure financial system stability.
He equally promised to maintain exchange rate stability and macro-economic stability. On monetary policy, Governor Emefiele said: “We shall pursue a gradual reduction in interest rates.”
Emiefele promised to pursue a gradual reduction in key interest rates, include the unemployment rate in monetary policy decisions; maintain exchange rate stability and aggressively shore up foreign exchange reserves.
The CBN governor also pledged to strengthen risk-based supervision mechanism of Nigerian banks to ensure overall health and banking system stability; and build sector-specific expertise in banking supervision to reflect loan concentration of the banking industry.
He observed inadequate trigger thresholds from a macro-prudential perspective, and said he would consider and announce measures to effectively address this anomaly.
Emiefele further said he would abolish fees associated with limits on deposits and reconsider ongoing practice in which all fees associated with limits on withdrawals accrue to banks alone; and introduce a broad spectrum of financial instruments to boost specific enterprise areas in agriculture, manufacturing, health, and oil and gas.
According to him, the CBN under his watch would establish Secured Transaction and National Collateral Registry as well as establish a National Credit Scoring System that would improve access to information on borrowers, assist lenders to make good credit decisions; and build resilient financial infrastructure that serves the needs of the lower end of the market, especially those without collateral.
He added that the CBN would renew vigorous advocacy for the creation of commercial courts for quick adjudications on loan and related offences.
Emiefele appealed to Nigerians to cooperate with the CBN in its bid to ensure a better economic prospect for the country, saying: “We must, by now, have been tired of hearing people talk about the ‘potentials’ of Nigeria. Now is the time to live that dream. I truly believe that working together, we can achieve our goals and give Nigerians the chance to live longer, better and more fulfilled lives.”
Shell Donates Subsea Training Facilities To UNIPORT
The Nigeria deep-water arm of global energy giant, Shell, has donated multimillion naira laboratory equipment and software packages to the Offshore Technology Institute of the University of Port Harcourt as part of the company’s Nigerian content human capital development programme delivered in collaboration with the Nigerian National Petroleum Corporation (NNPC).
Speaking at a ceremony to hand over the facilities to the university, last Thursday, Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Mrs. Elohor Aiboni, said, “The donations are aimed at strengthening advanced practical teaching and research in subsea engineering to give the students the required skills and competences for entry level jobs in the oil and gas industry”.
The facilities, valued at over $700,000, are in alignment with the Human Capacity Development Guideline of the Nigerian Content Development and Monitoring Board (NCDMB).
Aiboni, represented by SNEPCo’s Social Investment Manager, Dr. Gloria Udoh, expressed optimism that with the level of investment by NNPC and SNEPCo in deep-water training via the establishment centres of excellence and donation of cutting-edge information and communication technology centres, among others, Nigerian oil and gas industry would surpass its local content aspiration earlier than projected.
“This investment anchored on the maintenance of subsea infrastructure on Nigeria’s pioneer deep offshore field, Bonga, is expected to develop and upskill the cognitive and technical abilities of students who pass through the Offshore Technology Institute for the ultimate benefit of our industry and of our country,” Aiboni added.
With the new laboratory and software packages, according to Aiboni, the Offshore Technology Institute is positioned to deliver effective training in engineering design; construction and installation of offshore and subsea structures; computer simulations; civil and construction tests; 3D printing/engravement capability; Measurement/Metering Technology and Robotics; Alternative Energy Technologies; and Data Acquisition Learning System.
In his remarks, Vice Chancellor, University of Port Harcourt, Prof. Onwunari Georgewill, commended NNPC and SNEPCo with its co-venture partners for their goodwill to the university and particularly to OTI, and canvassed more areas of collaboration between the university and its industry partners.
Georgewell said, “This project’s completion is timely because it latches on to the university’s leadership philosophy, which focuses on advancing education through an integrated learning environment to produce industry-ready university graduates and workforce.
“The current administration of the university places a lot of emphasis on university and industry collaboration and partnership. This donation will therefore enhance the achievement of the postgraduate degree-awarding Offshore Technological Institute in the practical context.”
Also speaking, Executive Secretary of NCDMB, Mr. Simbi Wabote, described the human capital initiatives of SNEPCo as commendable.
Wabote added, “I commend your remarkable and consistent collaboration and partnership with the NCDMB towards the development of in-country capacities and capabilities.”
Represented by NCDMB General Manager, Corporate Service and Logistics, Mr Halilu Abdulmalik, Wabote said, “Your Nigerian content initiatives are consistent with the objectives and aspirations of NCDMB’s 10-year strategic roadmap, and we hope that necessary adjustments will be made to the curriculum to ensure optimal utilization by students in the university community.”
Obasanjo, Osinbajo, Wike, Others Bag CAN Awards
Vice President Yemi Osinbajo, former President Olusegun Obasanjo, Senator Rochas Okorocha, Rivers State Governor, Chief Nyesom Wike, Emeritus Catholic Archbishop of Abuja, Cardinal John Onaiyekan, and Mummy Esther Ajayi, were among prominent Nigerians who received awards at the Christian Association of Nigeria (CAN) Sapphire awards in Abuja, last weekend.
Others, including Pastor Enoch Adeboye, Cardinal Olubunmi Okogie, and Chief Arthur Eze, also received awards at the event; while the kidnapped Dapchi school, Leah Sharibu, won in the Young Christian Achiever award category.
Former Head of State, Yakubu Gowon, and Goodluck Jonathan, Deputy Senate President, Ovie Omo-Agege, Secretary to the Government of the Federation, Boss Mustafa, and some Christian governors, serving and past National Assembly members bagged awards.
The awards were part of activities for CAN’s 45th Anniversary Sapphire Celebration Dinner and Award Night.
Earlier in his welcome address, CAN National President, Rev. Samson Ayokunle, had said that the gathering was to celebrate 45 years of the church in Nigeria.
He said that Governance Category awards were for Christians in politics who had shown excellent and remarkable services.
“These include past presidents, serving governors and senators in our assessment that deserve such award.
“An award ceremony is applause of vision, personal discipline and determination; it is an event like this that makes people feel that their works are valued.
“The award is a catalyst that is expected to reinforce the awardees to serve humanity more and more,’’ he said.
The CAN president said it was heart breaking that majority of those in Internally Displaced Persons (IDPs) camps were Christians who were displaced by religious fanatics, bandits and gunmen in their territories.
He solicited the awardees’ financial support in fulfilling some of CAN’s obligations to fellow Christians and bringing to fruition the association’s projects.
Obasanjo, who was represented by the Secretary to Government of the Federation (SGF), Mr Boss Mustapha, was the special guest of honour at the awards.
Obasanjo said that the award was significant in that it would encourage other citizens to serve humanity, adding “I will continue to do the best I can to uphold the principles of justice, love, equity, mutual respect, industry and the fear of God which epitomise the church of Christ until there’s no breath left in me.”
While showing appreciation to CAN on behalf of all the award recipients, VP Osinbajo said Nigerians needed to be more tolerant of other people’s views.
The vice president dedicated the award to those who, daily in different locations, distant and near, propagated the message of the love and reconciliation of the gospel of Jesus Christ, sometimes in difficult and life-threatening situations.
He said that the awardees were not necessarily the most deserving of Christians to be given any recognition but by the special grace of God which placed them in the high capacity they served.
He said, “As we have seen in the past few years, there’s a growing ethnic and religious chauvinism, and almost intemperate, vehement and violent dismissal of the views of people of other persuasions and faith without adequate consideration.
“At the same time, there is also the rise of cultural and identity politics. The answer to hate and intolerance and conflicts is the gospel of Jesus Christ. We must believe enough in it, to live it out as our article of faith.
“The gospel commands consideration of the views of others, treating them we would wish to be treated. Our words must be of grace, seasoned with salt.
“We must remain constant and relentless advocates of freedom of worship, respect for human rights, fairness, justice, rule of law because they are fundamental to peace and security. We cannot talk of peace and security without fairness and justice, and compliance with the rule of law.
“We are in the advantageous position that our contribution will be more easily noticed.
“So, this award is dedicated to the men who, daily in different locations, distant and near propagate this message of the love and reconciliation of the gospel of Jesus Christ in sometimes even difficult and life-threatening situations.
“And to many who have suffered deprivations, the families of those who have lost their lives by reason of their belief.
“And we are deeply grateful to the Almighty God for the opportunity and enablement to serve in the positions to which we have been referred.
“I bring, also, the very warm felicitations of the President Muhammadu Buhari and the Federal Government of Nigeria on the 45th anniversary of the birth of this foremost association of Nigerian Christians.
“CAN was formed to, among other objectives, nurture the unity of the church in Nigeria and to work with the leaders of other faith and persuasions to build bridges and forge understanding, peace and unity among the various people and faith in our nation.
“CAN has not only been continually faithful to its founding vision, it has become a veritable force for peace, for unity and for social justice.
“Pursuant to the gospel, CAN has consistently spoken up on behalf of the least of those in our society,’’ he said.
He said that the current and past leaderships of CAN had acted in full realiasation and recognition of their roles as pivotal stakeholders alongside the government and private sector in nation building.
Earlier, Senator Rochas Okorocha, who noted the dire financial condition of the umbrella Christian organisation in the country, advised clerics to tone down their criticism of those in authority.
He said, “I just want to caution some Christian pastors concerning the way we use our pulpit and the kind of fire of insults and abuses that comes from there. When you abuse those who will give you money where will you get the money.
“The Bible says to pray for those in authority. You need to draw your leaders close. When you draw us closer and tell us what your problems are, it will energise us to help. Money will flow more than you need.”
Also, Imam Abubakar Abdullahi, who sheltered no fewer than 200 Christians in Barkin Ladi, Plateau, during an attack, was presented with the Special Recognition award.
The late Obadiah Mailafia, former CBN Deputy Governor, was given a post-humous award of Spokesperson for Oppressed alongside Matthew Kukah, Bishop of Catholic Diocese of Sokoto and Human Rights Lawyer, Femi Falana.
Awards were also given to best candidates in the 2020 Unified Tertiary Matriculation Examination and Senior School Certificate Examination.
Highlight of the event was the cutting of the anniversary cake.
Bandits Free 10 More Kaduna Baptist Students, Keep 11
The Christian Association of Nigeria (CAN), yesterday, confirmed that 10 more students of Bethel Baptist School in Kaduna State have been released.
The Vice President of CAN (19 Northern States and Abuja) and its Chairman in Kaduna State, Rev. Joseph John Hayab, said this in a short WhatsApp message to newsmen.
He said, “Ten more students of Baptist High School were released this afternoon. We have 11 now with bandits.
“We are thanking all Nigerians for their prayers and support.
“We are trusting God that the rest will be released very soon. All have been reunited with their parents.”
Earlier, 10 students of Bethel Baptist School in Kaduna were released on Saturday, September 18, after spending 74 days captivity of terrorists, with 22 others still being held.
Hayab had said, “10 students were released this (Saturday) evening and have reunited with their parents. We are now hoping for the remaining 21 who are still with the bandits.”
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