Vice President Yemi Osinbajo – The Commerce Africa https://thecommerceafrica.com African Reneissance Fri, 19 May 2023 19:10:27 +0000 en-US hourly 1 https://wordpress.org/?v=5.9 Any Role for Osinbajo after May 29? https://thecommerceafrica.com/any-role-for-osinbajo-after-may-29/ https://thecommerceafrica.com/any-role-for-osinbajo-after-may-29/#respond Fri, 19 May 2023 19:10:25 +0000 https://thecommerceafrica.com/?p=13679 Etim Etim writes that Vice President Yemi Osinbajo still has a lot to offer not only Nigeria but the African continent after leaving office on May 29, 2023

Vice President Yemi Osinbajo was in Nairobi, Kenya, early this month to participate in an event organized by the Mo Ibrahim Foundation. The Foundation was established in 2006 to promote good governance and leadership in Africa.

The event, tagged The Ibrahim Governance Weekend (IGW) brought together leading voices from across the continent to speak on important issues on the progress of Africa.

On the sidelines of the activities, Mr. Mo Ibrahim pulled the Vice President aside and commended him for his leadership qualities and for being a good example for other African leaders.

He then asked the Vice President to assume the status of an African stateman because ‘’now we really need statesmen like you coming out of office to really go and save the society, and something for Africa. There is life after office…you say it as it is and you really give example to all our leaders. We can go and get things done and get the respect of the international community, and you do the best job’’.

This is the same message that many world leaders and countless Nigerians have been passing to Osinbajo as the end of his eight-year tenure nears. They all expect him to transmute into a global thought leader and international statesman in the mould of Barrack Obama, Mahatma Gandhi and Nelson Mandela.

At a panel discussion during the Nairobi event, a former President of the African Development Bank, Dr. Lawrence Kaberuka, who also spoke on the panel, said of the Vice President ‘’I think this gentleman has done an excellent job in his country. I don’t think we have seen the last of him’’.

But what are people seeing in Osinbajo?

First, let me introduce Mo Ibrahim to those who might not know him. Sir Mohammed Fathi Ahmed Ibrahim, born May 3, 1946, is a Sudanese-British billionaire businessman.

He worked in several telecommunications companies, before founding Celtel, which when sold, had over 24 million mobile phone subscribers in 14 African countries.

After selling Celtel in 2005 for $3.4 billion, he set up the Mo Ibrahim Foundation to encourage better governance in Africa, as well as creating the Ibrahim Index of African Governance, to evaluate nations’ performance. He’s also a member of the African Regional Advisory Board of London Business School.

Since Sir Ibrahim and his foundation are primarily focused on promoting good governance in Africa, a continent that has been damaged by corruption, wars and leadership incompetence, he must have seen in Osinbajo qualities that would stand him out as a global statesman: dignity; virtue; fairness, temperament and wisdom.

Many Nigerians also admire the Vice President for these and more.

Over the years, in words and deeds, Osinbajo has exhibited statesmanlike leadership qualities. He has shown integrity, competence, dedication to duty, loyalty to the government, compassion, empathy, graciousness and courage.

He has consistently spoken out against extremism, bigotry and violence in our polity. How I wish he had had the executive powers.

The Vice President’s recent speech at NIPPS on our diversity in which he chided ethnic jingoists, hate mongers and election riggers in a season many other leaders appear too effeminate to speak out or do something signifies the very essence of his ideals.

I’m always awed by Osinbajo’s tremendous social conscience.

At Kuru, the Vice President stressed that in the contest for power, leadership elites must not toy with prejudices that alienate or divide any section of the country, rather they should conduct themselves with a high sense of responsibility in order to build a new Nigeria where there is justice, equity and shared prosperity.

Besides, deliberate efforts have to be taken to deal with ethnic profiling and prejudices before they influence political contests.

This is a direct rebuke of people like Bayo Onanuga, the spokesman for Bola Tinubu, who have been making incendiary statements soon after the elections.

Said Osinbajo: “the leadership elites have a duty to conduct themselves with a high sense of responsibility even as they prosecute their contest for power’’.

He pointed out that historically, conscious and patriotic elites all recognize that, beyond what the letter of the law asserts, there are lines that cannot be crossed in the pursuit of political power. One of such lines is the willful exploitation of sectional sentiments and the invocation of ethnic antipathies to mobilize a political constituency. It is dangerous because it is an attempt that seeks to mobilize by fostering division and hatred”.

Osinbajo’s stirring condemnation of ethnic bigots who denied some Nigerians their right to vote in the last elections provided the needed balm to a nation that is hurting. It is a sharp contrast to the coldness and aloofness of President Buhari who has remained reticent all through the post-election tensions.

Said the Vice President: “these elections witnessed the exploitation by political actors of the fears and anxieties of people about so-called outsiders. Any attempts to deny people the right to vote in any locality on the basis that they do not belong in that place is condemnable in the strongest possible terms,’’.

Osinbajo stressed that when ethnic or religious prejudices are weaponized for political purposes, we are confronted with a lethal, potentially destructive situation.

This is why most prosperous places are countries that have learned to harness diversity while building ever more inclusive institutions.

And it is also the reason discrimination against people on the basis of their identity is explicitly condemned by most legal codes, including the Nigerian Constitution.

The crisis in Nigeria, however, is exacerbated by a tension that exists between new Nigeria and the old Nigeria as understood by a generation that is much more accustomed to political mobilization on the basis of identity. But, as a nation, Nigeria must ennoble and validate the Nigeria that our young people are consciously or unconsciously building. This is the future we want.

The Vice President urges us to remember that although we may speak different languages, belong to different tribes and profess diverse creeds; we are bound, above all else, by the language of a shared hope, by our common humanity as Nigerians, and a supreme faith in the possibility of our country.

Speaking further against all forms of discrimination, the VP stressed that if we are truly committed to economic growth, then we must also be committed to creating inclusive communities and strengthening social cohesion.

Put in another way, he emphasized that the only thing that grows in a climate of tribal hatred is poverty. This is why justice, healing, and a stronger commitment to the ideals of integration are so important.

“Where the forces of primordial division and polarization are harnessed for the sake of electoral gain, the venom of such devices remains and continues to poison communal relations, setting neighbour against neighbour. We have witnessed the catastrophic consequences of the political weaponization of prejudice in places such as Rwanda.”

therefore align my thoughts with Mo Ibrahim. What many Nigerians and non-Nigerians see in Osinbajo is what Mo Ibrahim has again validated in Kenya recently.

The ongoing national and global endorsement of this Vice President brings with it an appreciation that goes deeper in value because it makes sense that someone that has served with the commitment, the capacity and the character that Osinbajo has brought to bear ought to be so widely acknowledged.

So like Mo, I also urge Osinbajo to play at the international stage as a statesman after he leaves office. His voice would be needed to douse tensions in many conflict zones, especially in Africa. And at home, he remains a good proof that a new Nigeria is possible indeed.

Source ThisDay

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It’s Unreasonable to Jettison Fossil Fuels Now, Osinbajo insists. https://thecommerceafrica.com/its-unreasonable-to-jettison-fossil-fuels-now-osinbajo-insists/ https://thecommerceafrica.com/its-unreasonable-to-jettison-fossil-fuels-now-osinbajo-insists/#respond Mon, 01 May 2023 12:55:41 +0000 https://thecommerceafrica.com/?p=13312 Vice President Yemi Osinbajo has maintained that while the global call for transition to cleaner fuels may be valid, it would be unreasonable for Nigeria to abandon its fossil fuel deposits at the moment.

Osinbajo spoke at the launch of a book in Abuja titled: “Understanding Natural Gas, a Nigerian Perspective” authored by Dr David Ige, a renowned Nigerian engineer and teacher as well as Dapo Akinosun, a senior lawyer.

Osinbajo highlighted that in recent months, natural gas has taken centre stage in global politics, especially with the war in Ukraine going on, a strong reminder of the complexity of energy security concerns that nations now face.

He noted that as gas prices started skyrocketing, countries have been forced to confront the vulnerabilities of their own energy supply strategies, including Europe and America. He opined that every country must recognise their peculiarities.

“The key question, of course for us is how does Nigeria respond? How do we position ourselves to the vantage point of a nation with abundant energy resources, working assiduously to diversify its energy resources, develop domestic resources, enhance energy efficiency, and strengthen our infrastructure?

“Our nation like others around the world, finds itself in a situation where we must navigate this challenging transition wisely and economic future in very clear perspective,” he explained.

According to him, the push to phase out fossil fuels quickly and discourage new investments in related projects is fast ramping up, stressing that Nigeria must take the call to action seriously, not just for the sake of the environment, but also for the economy and for the people.

“It’s important that we must emphasise that while climate change is an existential threat, our own energy poverty and our development is also a major threat. And so we must find a way of balancing it. I think that this will involve a faithful implementation of our Energy Transition Plan, which involves the implementation of the decade of gas proposals,” he said.

He pointed out that the plan attempts to chart a pathway to renewable energy as the bedrock to develop 250 gigawatts of solar power by 2060, which is when Nigeria intends to hit net zero. He further highlighted the role of gas as a transition from heavier fossil fuels.

“No country has yet been known to develop its energy industry solely on renewable energy. And therefore, the call for us to do so solely on renewable energy is unreasonable. So they must take into account the fact that we are a gas-rich country and that we require gas not just for industry, but also to even be able to effectively use solar power, especially on our grid,” he stated.

The vice president said that Liquefied Petroleum Gas (LPG) remains a viable alternative to total abandonment of fossil fuels, especially in the transition period.

He commended the authors of the book, saying it is an important book, and one of the few technical texts that has a strong policy and legal perspective. He also highlighted that the book is simple to read.

In his remarks, the Chief Justice of Nigeria (CJN) Justice Olukayode Ariwoola, lauded the duo for putting pen to paper, noting that all literate Nigerians should have a copy to understand the sector better.

He stated that gas remains Nigeria’s new oil, noting that the book is a compilation of the duo’s industry experience and a comprehensive overview of the sector as well as its evolution.

It’s a must-read for students, academics, investors, lawyers in practice and policymakers as well as anyone looking for a quick knowledge of the gas industry,” he pointed out.

The book was reviewed by Bello Rabiu and Osteen Olorunsola and had in attendance industry bigwigs, senior lawyers and representatives of Oyo and Lagos governors.

In his intervention, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, said Nigeria was on course to realising the decade of gas aspiration.

He described the book as a perfect material for deepening the oil and gas industry, especially for new entrants in the field. According to him, the text will also refresh the knowledge of experienced professionals in the sector.

ThisDaylive

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Vice-President Yemi Osinbajo to deliver lecture at UPenn,US. https://thecommerceafrica.com/vice-president-yemi-osinbajo-to-deliver-lecture-at-upennus/ https://thecommerceafrica.com/vice-president-yemi-osinbajo-to-deliver-lecture-at-upennus/#respond Sat, 22 Apr 2023 15:14:18 +0000 https://thecommerceafrica.com/?p=13112

Vice President Yemi Osinbajo will today depart Nigeria for the United States of America where he is scheduled to deliver a Special Lecture at the University of Pennsylvania (UPenn) in Philadelphia.

According to a statement by Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, Osinbajo’s lecture on Monday will be themed around Climate Change and a Just Transition, and is hosted by the University’s Center for Africana Studies.

Besides the lecture, the VP will also participate in an interactive session with students and faculty coordinated by Prof. Wale Adebanwi, Presidential Penn Compact Professor of Africana Studies at the University of Pennsylvania.

UPenn , which is one the eight private universities known as the IVY League in the United States was initially established in 1740 as a charity school.

It now enjoys the reputation of being one of the centers of excellence and tradition in the United States of America

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Osinbajo decries weaponisation of ethnic and religious prejudices for Political gain https://thecommerceafrica.com/osinbajo-decries-weaponisation-of-ethnic-and-religious-prejudices-for-political-gain/ https://thecommerceafrica.com/osinbajo-decries-weaponisation-of-ethnic-and-religious-prejudices-for-political-gain/#respond Wed, 19 Apr 2023 16:46:16 +0000 https://thecommerceafrica.com/?p=13068 Vice-President Yemi Osinbajo has spoken out against the weaponisation of ethnic and religious prejudices and stereotypes for political gain.

Osinbajo shared his insight on Monday at the maiden edition of the Policy Making and Good Governance Lecture Series of the National Institute for Policy and Strategic Studies (NIPSS) titled ‘Creating a Homeland for All: Nation-building in a Diverse Democracy.

Guardian reports that the Vice President shared an excerpt of his speech on Twitter Wednesday, where he spoke about his personal experience from decades ago to illustrate the nature of biases.

“In 1989, I was about to get married and I was searching for a good house to rent. I met my landlord, an elderly lawyer who obviously did more real estate than legal practice,” he said“He let me know that there were 3 categories of people he would not rent the property in his care to Ijebus, Igbos and Lawyers. I was disqualified on two accounts.

“He then said to me, pointing behind him in a few shrivelled-up books on a small bookshelf, that he had the arsenal to destroy any tenant in court if I gave him any trouble.

“He later, to his embarrassment, discovered that I was a Law teacher and adviser to the then Attorney General of the Federation and that of course, I am also Ijebu.

“I share this to illustrate the point that prejudice and bias are natural aspects of human nature. Everyone has prejudices and preferences that are reinforced by stories and narratives

According to him, prejudice is a function of the environment in which one is socialised and the level of exposure that one has.

Osinbajo explained that these stereotypes are, by the very nature of stereotypes, wild generalisations that are unlikely to hold up if empirical tests are conducted.

“Sometimes, we repeat stories so many times that they are soon accepted as facts. When we accept these stories as facts, we shape our judgment of others and entrench bias and prejudice.

“However, when ethnic or religious prejudices are weaponised for political purposes, we are confronted with a lethal potentially destructive situation,” he added

Source: The Guardian

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Nigeria Allocates 0.5% of GDP to Development of Science, Technology https://thecommerceafrica.com/nigeria-allocates-0-5-of-gdp-to-development-of-science-technology/ https://thecommerceafrica.com/nigeria-allocates-0-5-of-gdp-to-development-of-science-technology/#respond Tue, 16 Mar 2021 07:52:18 +0000 http://thecommerceafrica.com/?p=3452 President Muhammadu Buhari, said that the Federal Government has allocated 0.5% of the country’s annual GDP (Gross Domestic Product), to improve investment and aid the development of Science, Technology and Innovation in the country.

The president disclosed that the investment in STI is in line with the African Union resolution that member nations should invest at least 1% of their respective nations GDP to the development of Science, Technology and Innovation.

President Buhari, who was represented by the Vice President, Prof. Yemi Osinbajo, made this known at the opening ceremony of the 2021 Science and Technology EXPO in Abuja on Monday.

In his speech, Prof. Osinbajo said that the Science and Technology EXPO should serve as the VANGUARD to establish Nigeria’s economy as an innovation driven one. He further added that the EXPO is important in helping Nigeria achieve economic sustainability and recovery.

He said that the Federal Government is fully committed to create an enabling environment for the growth of Science, Technology and Innovation in the country, through government policies such as Executive Order 05, The Economic Recovery and Growth Plan (ERGP) and other policies approved by the Federal Government.

The Federal Government granted full scholarship up to the Doctor of Philosophy (PhD) degree level, to three secondary school students who emerged winners at this year’s Young Nigerian Scientists Presidential Award Competition (774 YONSPA). The scholarship is in any science-related discipline of their choice at any university in the country.

The three students are Edanya Ugochukwu Godswill (Enugu state), Akinwande Oluwatomisin (Ondo state) and Emmanuel Imeh (FCT), who came 1st, 2nd and 3rd respectively, a statement from the Ministry of Science and Technology said.

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VP Osinbajo Worries Over Cost Compliance Of Report https://thecommerceafrica.com/vp-osinbajo-worries-over-cost-compliance-of-report/ https://thecommerceafrica.com/vp-osinbajo-worries-over-cost-compliance-of-report/#respond Thu, 21 Jan 2021 12:38:40 +0000 http://thecommerceafrica.com/?p=3159 In a renewed attempt at further deepening the reforms of the nation’s business environment, the Presidential Enabling Business Environment Council, PEBEC, has resolved that CEOs and Heads of some Federal Government regulatory agencies be presented with the outcome of a recent survey that exposes major pitfalls in the operations of the agencies.

The Cost of Compliance Report which was presented to the Council at its first virtual meeting of the year on Tuesday revealed persistent corruption, duplicity of functions, poor service orientation, and several anti-business disposition in some of the regulatory agencies.

Vice President Yemi Osinbajo, SAN, who presided over the meeting directed that CEOs and heads of such government regulatory agencies involved should be presented with the outcomes, and interaction should take place regarding some of the worrying disclosures in the report of the survey conducted by Pricewaterhouse Coopers, PwC.

Prof Osinbajo who said the report revealed human issues that are not unavoidable, stressed the important roles regulatory agencies play in ensuring businesses are able to thrive seamlessly without inhibition. He noted that doing otherwise would only jeopardize the government’s efforts in creating a conducive business environment.

He stated that “if the environment on account of regulatory authorities is so difficult or expensive, such that people are discouraged or it doesn’t make sense for people to do business, then we are shooting ourselves in the foot in a manner we can only blame ourselves. These are human issues and we must do something very serious about these issues.”

Speaking further about holding those responsible for the major lapses to account, the Vice President said, “I am in full support of holding our CEOs to account because they, in turn, must hold their staff to account. If there is systemic corruption, bribery and extortion, and nobody is held to account, there is a problem.”

According to Prof Osinbajo, the plans of the Federal Government in growing the economy and changing the lives and livelihood of Nigerians for the better is largely dependent on the business environment in which they operate.

“Every one of our plans around sustaining economic growth, improving job creation and opportunities, whatever it is that we plan to do to make life better for the citizens, depends entirely on the environment in which people have to do business.

“It determines whether they will invest their resources, expand their businesses, and it just determines practically everything.”

A statement from the Presidency signed by Laolu Akande, Senior Special Assistant to the President on Media and Publicity Office of the Vice President, said others present at the PEBEC meeting include the Ministers of Industry Trade and Investment, Otunba Niyi Adebayo, the Vice Chairman of PEBEC; Finance, Budget and National Planning, Hajiya Zainab Ahmed; Transportation, Mr Rotimi Amaechi; Information, Alhaji Lai Mohammed; Interior, Ogbeni Rauf Aregbesola; Budget and National Planning (State), Clem Abga; Special Adviser on Ease of Doing Business, Dr. Jumoke Oduwole, and Senator Aishatu Dahiru Ahmed, representing the National Assembly among other top government officials and representatives from PwC.

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Nigerian Govt Boost Access to Energy with 5m Solar System https://thecommerceafrica.com/nigerian-govt-boost-access-to-energy-with-5m-solar-system/ https://thecommerceafrica.com/nigerian-govt-boost-access-to-energy-with-5m-solar-system/#respond Mon, 30 Nov 2020 08:03:51 +0000 http://thecommerceafrica.com/?p=2809 The President Muhammadu Buhari administration, will this week, begin distribution of five million solar system, under the Economic Sustainability Plan (ESP).
It was gathered that under this arrangement, 25 million Nigerians not served by the national grid will pay N4,000 monthly for a three-year period, to own solar systems in their homes.

Senior Special Assistant to the President on Media and Publicity in the Vice President’s office, Laolu Akande, made the disclosure in response to media inquiries on cost of the project nicknamed SOLAR POWER NAIJA for which installation commences next month.

He said the scheme, being implemented by the Rural Electrification Agency (REA), had an option of outright ownership by beneficiaries at a cost ranging from N1, 500 per week to N4, 000 monthly depending on capacity, noting that the arrangement allows as many as 25 million Nigerians to own personal solar systems.

As indicated in the economic document, the five million connection is a private sector-led electricity access acceleration scheme to be facilitated by a low-cost loan from the Central Bank of Nigeria (CBN) that would be superintended by REA.

Amplifying advantages of the programme, Akande said besides creation of access to cheap and clean energy, the local solar assembly industry would be impacted positively. 
 
He noted: “The programme will include the assembly or manufacturing of components of off-grid solutions to facilitate growth of the local manufacturing industry. 

“In view of the scale of materials required, solar equipment manufacturers/assemblers will be incentivised to set up facilities in Nigeria, thereby offering additional job opportunities to Nigerians. In addition, installation, servicing and payment collections are to provide thousands of other jobs. In all, at least 250, 000 jobs will be created.”

Explaining the role of the World Bank in the project, another Presidency official, who pleaded anonymity, said the global lender would provide grant to finance 20 per cent of the retail cost nationwide.

The source observed that the connection of 25 million new Nigerians to clean energy and implementation of the National Mass Metering Programme (NMMP) were sustainable initiatives to address the nation’s energy crisis.

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VP Osinbajo Urges Huawei to Create Jobs for Nigerian Youth https://thecommerceafrica.com/vp-osinbajo-urges-huawei-to-create-jobs-for-nigerian-youth/ https://thecommerceafrica.com/vp-osinbajo-urges-huawei-to-create-jobs-for-nigerian-youth/#respond Fri, 27 Nov 2020 08:49:24 +0000 http://thecommerceafrica.com/?p=2790 The idea of a partnership between the Federal Government and technology companies to develop an eco-system of competent Nigerians working in the service sector and even outsourcing their expertise abroad is a welcome development and a step in the right direction in job creation.

Vice President Yemi Osinbajo, SAN, stated this during a virtual courtesy call from Huawei Nigeria, led by its new CEO, Trevor Liu on Thursday.

According to the Vice President, “I think that Huawei and the Federal Government should work as partners, not just a business relationship, but a relationship that also takes employment into account, especially with our young population.”

Continuing, Prof. Osinbajo said, “we need to develop an ecosystem of competent Nigerians who can work locally and get international jobs as well, a business-outsourcing-type arrangement.”

He acknowledged the work Huawei had done in the past with training of Nigerians but reiterated the need for employment opportunities that go beyond capacity building.

Prof Osinbajo explained that “every other technology company does training programmes, but that is not what I am looking for. I am looking at something that shows Huawei wants to be a partner with Nigeria, working together as a corporate organization that sees itself as a part of Nigeria’s future. There are loads of people who have done training but have no work”

He further went on to say “I want us to do something groundbreaking and different.”

“Let’s see something that gives young people more than training, gives them some opportunity as well because this ecosystem will require a lot of people who see Huawei not just as a business but a brand that’s interested in them going forward”

Responding, the CEO of Huawei Nigeria, Trevor Liu, said that the strategy of the company is indeed to focus on investing in young people in every country in which they operate, adding that the company has invested in a lot of young people in Nigeria but would also like to do more.

He assured the Federal Government that Huawei would invest more resources in young people and give a progress update, adding that it’s the plan of the company to position Nigeria as a technology center for the continent.

A statement signed by Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, said Otunba Lanre Odekunle, Deputy Managing Director of Huawei and Michael Zhuang, the General Manager of Huawei in Nigeria were also present at the meeting.

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Payment of N30,000 Grant to 333,000 Artisans Begins Wednesday –Presidency https://thecommerceafrica.com/payment-of-n30000-grant-to-333000-artisans-begins-wednesday-presidency/ https://thecommerceafrica.com/payment-of-n30000-grant-to-333000-artisans-begins-wednesday-presidency/#respond Wed, 28 Oct 2020 12:16:47 +0000 http://thecommerceafrica.com/?p=2466 As the implementation of the Economic Sustainability Plan progresses, the payment of N30,000 one-time grant to 330,000 Nigerian artisans across the country is now in progress, Office of the Vice President Yemi Osinbajo has announced.

The payments are being made to sets of verified beneficiaries of the Artisan Support Scheme, a track under the MSMEs Survival Fund.

In the first stream of payments starting today, beneficiaries are being drawn from the FCT, Lagos, Ondo, Kaduna, Borno, Kano, Bauchi, Anambra, Abia, Rivers, Plateau and Delta States. They form the first batch of applications for the scheme submitted between October 1 and October 10.

The MSMEs Survival Fund scheme is a component of the Nigerian Economic Sustainability Plan, NESP, which was developed by an Economic Sustainability Committee established by President Muhammadu Buhari in March 2020. The President asked his deputy, Vice President Yemi Osinbajo, SAN, to head the committee which produced and is overseeing the implementation of the plan.

Under the ESP, the Survival Fund is generally designed to among other things, support vulnerable MSMEs in meeting their different obligations and safeguard jobs in the sector.

It would be recalled that applications for the Artisans’ Support Scheme under the MSMEs Survival Fund opened on October 1.

Meanwhile, the enumeration for the second stream of States under the Artisan Support Scheme has also commenced with enumerators in various States compiling the lists of artisans through their association leaders. All artisans are expected to liaise with their association leaders to document their details.

The registration of applicants for Stream 2 began on the 19th October 2020. States under Stream 2 are: Edo, Ogun, Ekiti, Katsina, Kebbi, Kogi, Kwara, Enugu, Ebonyi, Adamawa, Taraba, Bayelsa

In the same vein, enumeration and verification of the documents of applicants under the Survival Fund Payroll Support scheme is still ongoing. Dates for the commencement of payment would be announced in due course.

The application process for the payroll support scheme, which began on September 21, had ended on the 15th of October 2020. Accepted applications are categorized by industry sectors, including Education and Hospitality, among other sectors.

However, there may be an extension for applications for some States that have not met their quota on beneficiaries. The Artisan Support Scheme is to benefit about 9,000 Nigerians per State and FCT.

In addition, the formalization support under the MSME Survival Fund will also commence today. This involves free business names’ registration for 250,000 MSMEs nationwide by the Corporate Affairs Commission (CAC).

According to the CAC, 6,606 business names in each of the 34 states will be registered for free. In Abuja, there would be 7,906 free registrations, 9,084 in Lagos and 8,406 free business names from Kano.

Also, a date for the commencement of the Guaranteed Offtake Scheme under the Survival Fund will be announced soon. This scheme is designed to safeguard existing small businesses and save jobs, while ensuring continued local production by guaranteeing off-take of priority products

The Offtake Scheme is a track specifically for MSMEs that are into production of items approved by the Steering Committee of the Survival Fund coordinated under the leadership of the Industry, Trade and Investment Minister of State Ambassador Mariam Katagum. The basic requirements include CAC certificate, valid BVN, SON or NAFDAC certification.

The N2.3 Trillion Economic Sustainability Plan consists of fiscal, monetary and sectoral measures to enhance local production, support businesses, retain, create jobs and provide succour to Nigerians, especially the most vulnerable.

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Adebayo Calls for Establishment of Land Banks to Attract Agric Investment https://thecommerceafrica.com/adebayo-calls-for-establishment-of-land-banks-to-attract-agric-investment/ https://thecommerceafrica.com/adebayo-calls-for-establishment-of-land-banks-to-attract-agric-investment/#respond Fri, 16 Oct 2020 07:14:33 +0000 http://thecommerceafrica.com/?p=2332 The Nigeria’s Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo, in a paper titled “Strategy for Growth of Micro, small and Medium Enterprises (MSMES) and Job Creation” presented to the National Economic Council on Thursday suggested a need to establish land banks in each state earmarked for investment in agriculture and agro processing.

According to Adebayo, the Bank if established, would ensure fair compensation for land, standardize and ensure clarity in compensation rates in each state.

He added that the objective of the presentation is to bring NEC up to speed on Ministry’s Term Goals and Projects and seek NEC’S support in the resolution of key challenges to achieving our goals.

The Minister noted that there was a need to “adapt the 2015 approved list of taxes and levies;
Set up and investment promotion agency/one stop shop for investment-related issues including facilitating investment linkages.

“MSME Council should be set up in each states. These Councils should build a database of the residents MSMES which can be used to facilitate the integration of local MSMEs into the supply chains of large resident corporate”, he said.

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