Business
MAN Moves To Reduce Unemployment
The Manufacturers Association of Nigeria (MAN) has initiated the Olubadan Entrepreneurship Scheme to reduce unemployment and boost the economy, Chief Kola Akosile, the association’s Chairman said.
Akosile disclosed this in Ibadan on Wednesday during a courtesy visit by executive members of the association to the Olubadan of Ibadanland, Oba Saliu Adetunji.
Akosile said the scheme would empower and train people with potentials to create job and be self relianct, which would contribute significantly to the development of the southwest region.
“We will identify people who can be self employed and train them as well empower them financially so that they can employ themselves and other people.
“We are trying to create manufacturers at the lower level of the economy; we will work with the palace because we already have the template,” he said.
The chairman said the initiative was also to mark the 40th anniversary of the association, with other activities lined up which would begin from July till the end of the year.
In his response, the Olubadan of Ibadanland, Oba Saliu Adetunji, commended the role the association had been playing in economic development of Nigeria, especially in providing jobs for the unemployed.
“The entrepreneurship scheme is a laudable one as it would help reduce social vices that lead to insecurity in the country.
“One of the causes of insecurity in Nigeria is high rate of unemployment, with youths roaming the streets and indulging in hard drugs and alcohol.
“The scheme will go a long way in addressing this ugly trend,” the traditional ruler said.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.