Business
Firms Train 20 Youth On Welding, Fabrication
Seven Energy, a leading
Nigerian gas company, has in partnership with Evomec Global Services, engineering, construction and oil and gas company, trained 20 youth in welding and fabrication at the Maritime Academy of Nigeria (MAN), Oron in Akwa Ibom State.
This was done as part of their corporate social responsibilities, in a bid to check the problem of unemployment in the country.
The youth were from Uruan, Oron, Okobo and Oruk Anam local government areas.
Speaking at the formal passing out and certificate award ceremony for the beneficiaries, Senior Manager, Seven Energy, Sir Lawrence Ighokpo, said the training was in line with targets set in the memorandum of understanding (MoU) signed between the company and its host communities.
He said beneficiaries were selected by the leaders of the affected communities, and urged them to use the knowledge acquired optimally.
Ighokpo expressed gratitude to the communities for their cooperation, and promised that the company would continue to partner with the state government to better the lives of the people.
Managing Director of Evomec Global Services, High Chief Peter Esievo, represented by Project Manager, Engr. Alfred Mrakpor, urged the beneficiaries to begin to pragmatically put their skills to use as professionals.
The Director, Maritime Academy of Nigeria (MAN) Consult, Dr Kelvin Okona, expressed gratitude to the management of Seven Energy and Evomec for giving the academy the opportunity to exercise its mandate.
Okona said training indigenous manpower on such technical areas would help reduce reliance on international experts, which would in turn, help conserve foreign exchange.
The State Commissioner for Environment and Mineral Resources, Dr Iniobong Essien, represented by Mrs Emem Ibokette, expressed gratitude to both firms for embarking on human capital development in the communities, adding that the investment would lead to more stable economic activities as those trained are likely to contribute their quota to the state’s development.
The Paramout Ruler of Oron, who was represented by the Clan Head of Idua, Edet Nyong Ekeng, thanked the companies for the giant step, and urged the beneficiaries to take utmost advantage of the opportunity.
Best graduate of the training scheme, Mr Ime Robin, who spoke on behalf of the others, urged youth to shun violence and embrace dialogue as a means of agitating for their needs.
Ima Utip, Uyo
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.