Business
Automotive Policy: ITF, NECA Back Technical Education
The Industrial Training Fund (ITF) and the Nigerian Employers Consultative Association (NECA) have appealed to the Federal Government to support its technical education on automotive policy.
Mrs Helen Jemerigbe, Chairperson, Technical Skills ‘Development Programme told newsmen in Lagos that the support was necessary for the growth of the sector.
Jemerigbe said that the programme trains technicians on vehicle maintenance, building of spare parts and other related services.
The Tide reports that the Technical Skills Development Programme is the brainchild of ITF and NECA.
The automotive policy was introduced by the Federal Government in October 2013 to discourage car importation and encourage local manufacturing of cars.
Jemerigbe said that there was need to have a sustainable training centre for automotive maintenance, poultry farming and other areas to grow the economy.
“This is what we believe will make the automotive policy work better and we are urging the new administration to partner with us on this cause.
“If we produce our own cars, we need people who will do the mirrors, bumpers, and other spare parts.
“This will go a long way in creating jobs in the value chain.
“The training centre will attract foreign investors like NISSAN and Toyota to establish their plants here.
“If we don’t train our technicians, we are only telling foreign investors to come with theirs,” she said.
Jemerigbe added that the centre assists its graduates to start their own businesses.
“We also have a programme where we give grants to technicians to establish their businesses, but most of the loans have not been well accounted for.
“So what we do now is ask the graduate technician to source for a loan and thereafter we monitor.
“If the business is progressing, we can now ask the business owner to apply for an expansion loan,” she said.
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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