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Abia Tackles Poverty In Rural Areas

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Abia State government has pledged to tackle poverty in the rural areas through provision of infrastructure and information and communication technology , especially, internet services.
The new Commissioner for Co-operatives, Poverty Alleviation and Rural Development, Chief Israel Amanze, who made the pledge shortly after taking charge of the ministry’s affairs, also assured that the ministry would evolve rehabilitation programmes for commercial motorcyclists (Okada riders) whose operations government recently banned in the metropolitan local governments.
Beaming with smiles after receiving the handover note from the Permanent Secretary, Dr. Ojum Ekeoma Ogwo Amanze said in an interview with The Tide that the ministry was specifically created to find solutions to rural development and empowerment of the ruralites to alleviate poverty in the state.
“We can never neglect the rural areas because over 75 per cent of our people live there. So these are the people we need to touch their lives. It is this ministry that is encumbered with the responsibility of improving their lives by provision of rural infrastructure: rural roads, rural electricity, formation of cooperatives and maintenance of such structures and alleviation of poverty for our vulnerable groups. I feel this is the best time for us to make a mark in this area,” the former Abia State Chairman of All Farmers Association of Nigeria (AFAN) said.
“We will try to do our best to cushion the effects of poverty, using government policies, through this ministry, to touch the lives of our people so that they will be positively influenced and positively motivated,” he said.
“So, having come in as commissioner, I have already challenged the directors, we will find out immediately what we can do to alleviate poverty, to improve rural infrastructure and what we can do to improve the lives of our people in the rural areas. So it is a challenge and with the goodwill of His Excellency, Governor T.A.Orji (Ochendo) who has said he is interested in the people, he wants to move the people forward, we will succeed in doing that,” he assured.
“As the dry season is coming, I want to see how we can galvanise ourselves to go into the field to see how we can improve rural infrastructure. I have also seen what is going on with our people who are Okada riders, we want to see how to alleviate their plight but it is something I want to discuss with His Excellency before I will know how we will go about it. But it is an area I want us to go into” the commissioner added.
On sensitising the populace on the programmes of his ministry, Amanze said that apart from using the media, the ministry “will also explore the possibilities of doing some rural internet services.” He said plans were afoot to get those to install the facilities and link up the various rural communities and make the relevant in the new information age.
The United Nations consultant said he was on a familiar terrain, having been participating in “rural empowerment.” “I have worked in the rural areas in farmers’ emancipation and empowerment of the rural poor.

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NSE Begins Week On Negative Note, Loses N19.49bn

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The Nigerian stock market began the week on a negative note as banking and consumer goods stocks, among others, triggered a N19.49bn loss.
At the end of trading on the floor of the Nigerian  Exchange Limited , the NGX All-Share Index dropped by 0.09 per cent to end at 43,270.94 basis points, while the market capitalisation declined to N22.58tn.
Market activities were mixed as the total volume of shares traded decreased by 30.19 per cent while the value traded rose by 34.05 per cent.
A total of 213.13 million shares valued at N2.36bn were exchanged in 4,105 deals, compared to 305.32 million shares worth N3.58bn in 4,450 deals last Friday.
FCMB Group Plc topped the traded stocks in terms of volume, accounting for 27.43 per cent of the total volume of trades while Airtel Africa Plc emerged as the most traded stock by value, representing 28.81 per cent of the total value of trades on the exchange.
14 firms gained compared to 21 losers.
AIICO Insurance Plc was the biggest gainer for the day, topping the gainers’ chart with a price appreciation of 8.57 per cent to N0.76 per share.
It was followed by LivingTrust Mortgage Bank Plc with a rise of 7.95 per cent, ending the day at N0.95 per share.
Analysing by sectors, three of the five major indices closed lower, led by NGX Oil & Gas (-0.56 per cent), NGX Consumer Goods (-0.23 per cent) and NGX Banking (0.18 per cent).
But the insurance (0.82 per cent) and industrial goods (0.002 per cent) indices gained at the end of trading.

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… Introduces TIES To Boost  Business Loan

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The Central Bank of Nigeria (CBN) has introduced the Tertiary Institutions Entrepreneurship Scheme (TIES), which provides undergraduates and graduates with a platform to access loans.
The TIES’ underlying aim is to provide access to capital for Nigerian undergraduates and graduates with innovative entrepreneurial and technological ideas from polytechnics and universities.
TIES intends to shift undergraduates and graduates away from white-collar job pursuits and towards a culture of entrepreneurship development for economic development and job creation.
In a national biennial entrepreneurship competition, the Developmental Component would be distributed in the form of awards to Nigerian polytechnics and universities.
The competition aims to increase undergraduates’ awareness and visibility of high-impact entrepreneurial/technological concepts, foster entrepreneurial talent hunts in Nigerian polytechnics and universities, and encourage commercially viable and transformative technologies.
Interested Nigerian polytechnics and universities shall apply to participate in the national biennial entrepreneurship competition on a dedicated online portal.
Outlining brief details of the project, potential impact and evidence of originality of project, CBN said it is an innovation for students entrepreneurs.

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CITN Applauds FG, Tax Authorities On Fiscal Policy Decisions

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The Chartered Institute of Taxation of Nigeria (CITN) has lauded the Federal Government and tax authorities on the giant strides made on fiscal policy decisions and tax administration measures initiated this year in the area of Finance Act 2021 and the introduction of TaxPromax solution.
President of the institute, Adesina Adedayo, who gave the commendation at the institute’s yearly award ceremony at the weekend in Lagos, assured the government and tax authorities of aligning with the measures and promised to provide professional thoughts and insights on ways through which they could achieve an efficient and effective Nigerian tax system.
Adedayo emphasised the need to address the database, adding that without knowing who the tax-payers are, there is no way they can take money from unknown tax-payers.
Database is the aspect we have been emphasising on as an institute and in doing this, there are so many of pockets of data we have. All the data must be harmonised to have a simple unique tax-payers identification number,” he said.

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