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Enugu Airport: State Tasks Aviation Firm On Cargo Equipment

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The Enugu State Government has appealed to the National Aviation Handling Company (NAHCO) to provide cargo handling equipment at the Akanu Ibiam International Airport for the export of agricultural produce.
The state’s Commissioner for Commerce and Industry, Dr Jude Akubuilo, made the appeal in Enugu on Wednesday at an interactive session with students of the Armed Forces Command College, Senior Course 37, who were on a tour of the state.
Akubuilo said the equipment would ease the evacuation of fresh agricultural produce and create job opportunities for youths in the state.
He lamented that efforts by the state government to collaborate with the company to provide the equipment to create market for the farmers in the state had failed.
He also called on the Federal Government to approve the establishment of a free trade zone in the South East zone.
“We are losing money. We appeal to NAHCO to help us provide the cargo equipment so that we can transit out of oil and invest more in agriculture,’’ he said.
In his remarks, the state’s Commissioner for Agriculture, Dr Mike Eneh, said the state had created a value chain approach targeted at making every small scale farmer a commercial one.
He said the state had invested more than N5 billion on rice production and gotten more than N1.488 billion on the sale of poultry products.
He listed some challenges stalling the development of agriculture in the state to include bureaucracy, sabotage and difficulty to extend support to farmers.
“We do not want isolated projects that cannot be delivered. We want to project agriculture as a business in Enugu State,’’ he said.
Eneh said the state had commenced the export of pineapples to other countries of the world.
The Team Leader of the college, Cmdr. Obi Ofodile, said the visit was in line with the course curriculum.
He said that the team would visit states and the theme for this year was ‘exploring agricultural potentials of Enugu State for socio-economic development’.
He said the students were in Enugu for on-the -spot assessment and that whatever their findings would reflect on their reports, which would include solutions to help the state develop its agriculture.
Ofodile expressed happiness with the improvement in agriculture in the state.
“I think the state is trying a lot in agriculture. If you have seen what is happening to our oil, it is imperative for states to promote agriculture,’’ Ofodile said.
Some of the students from Ghana and Togo called for improved budgetary allocation to agriculture to augment the fall in oil price.
The group also paid a courtesy visit on Gov. Sullivan Chime of Enugu State.

Fela Durotoye, MD/CEC Visible Impact (left) delivering the Gospel during the 4th International Christian Business exhibition and conference in Port Harcourt.            Photo: Egberi A. Sampson

Fela Durotoye, MD/CEC Visible Impact (left) delivering the Gospel during the 4th International Christian Business exhibition and conference in Port Harcourt. Photo: Egberi A. Sampson

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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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