Connect with us
>

Economy

OSINBAJO: Nigeria’s future prosperity hinges on business environment, talents, creativity

Published

on

Jailbreak: VP Osinbajo initiatives save inmates in Lagos – Giwa-Amu

The Vice President, Yemi Osinbajo has observed that future national prosperity will be consummated by the handshake, between business environment, talents and creativity.

Osinbajo stated this at 2nd Micro Small and Medium Enterprises (MSMEs) Award 2019 held at the State House Banquet Hall on Thursday in Abuja.

The awards are in recognition of MSMEs that have built viable businesses, created jobs, and shown innovation and commitment.

The vice president said that what Nigeria hoped to be in the next few decades would depend on what the young businesses became.

“What they become depends on the friendliness of the regulatory environment, capital availability, and infrastructure, especially power and broadband connectivity.

“So, we recognise that our future national prosperity will be consummated by the handshake between the business environment and talents and creativity.

Also read: Insecurity: Osinbajo meets Osun monarchs, explores community policing

“This is why we have been working hard on changing the orientation of our regulators even as we digitalise their operations; and there has been progress.

“Regulators are becoming more attuned to the notion that they are first facilitators before being the commercial police and standard enforcers.

“To get more MSMEs to formalise their businesses, the Corporate Affairs Commission (CAC) offered a special 50 per cent discount on business name registration for MSMEs, and recently extended the initial period of this offer by 90 days.’’

On access to low-cost financing for MSMEs, he said that various government agencies and institutions were hard at work – Development Bank of Nigeria (DBN), Bank of Industry (BOI), NEXIM, the new NIRSAL Microfinance Bank, and others.

He said that efforts were being made to see how commercial banks could quickly achieve single digit interest rates for loans to MSMEs, with tenor of between 5 and 10 years, and a repayment moratorium of a minimum of one year in each case.

According to him, one of the MSME-focused priorities is access to affordable world-class equipment for MSMEs across the country.

“To achieve this, the MSME Clinics will commence a Shared Facilities Scheme in partnership with the Central Bank of Nigeria (CBN), BOI, NEXIM Bank, and other partner agencies in the public and private sectors.

“This Shared Facilities Scheme, which saw pilot launches in Oyo and Bauchi States in 2018 and first quarter of 2019 respectively, will provide MSMEs with affordable shared access to essential amenities like guaranteed power supply, and high quality operating equipment; thus helping to reduce their cost of operation.

“Close to 1.5 million MSMEs will benefit directly from this first phase.

“Each of the 36 States and the FCT will have a minimum of one shared facility, which will be located in identified clusters where MSMES already operate in significant numbers, such as Ogbunike in Anambra State, Ikot Abasi in Akwa Ibom and Computer Village in Lagos.

“Others are Wammako in Sokoto, Ukum in Benue, Soba in Kaduna, Egbe Yewa in Ogun, and Arochukwu in Abia, to mention a few,” he said.

He commended the MSME Clinics team for their hard work and for consistently keeping the clinics at the cutting edge of innovation.

The awards were in the following categories-Award of Excellence in Creative arts, Agriculture, Manufacturing, Technology and Innovation, Fashion and Style, Leather works, Beauty Wellness and Cosmetics, and Furniture and Woodworks.

There was also a special category for outstanding male and female participants at the MSMEs clinics.

The Most Supportive MSMEs State of the Year went to Anambra State.

One of the awardees, Lawal Segun, who took the creative arts honour, said the award was an encouragement to do more

Governors Abdulrahman Abdulrazaq of Kwara State, Nasir El-Rufai of Kaduna State and Simon Laying of Plateau graced the event.

The audience was entertained by popular Nigerian artist, Tuface Idibia.

 

 

 

 

Economy

Unstable Economy: UK Firm Presents Solutions To Nigerian Business Leaders

Published

on

SOAN Inaugurates New Leadership, Boosting Hopes Of Crushable Inflation

Nigerian business leaders are to benefit from the programme of United Kingdom-based leadership development organisation TEXEM UK on how to win despite the exodus of staff, very high inflation and turbulent operating landscape.

TEXEM’s Director of Special Projects, Caroline Lucas, said on the organisation’s website, www.texem.co.uk, that the programme with the theme “Strategies for Sustainable Organisational Success” is slated for April 24 and April 25 in Lagos.

According to Lucas, in today’s volatile and disruptive business landscape, organisations face numerous strategic challenges.

“TEXEM’s programme, “Strategies for Sustainable Organisational Success,” offers tailored solutions to address these pressing issues.

“Senior leaders grappling with skyrocketing costs, high currency risks, and disruptive technologies require practical insights and tools to navigate uncertainty effectively.

“This programme provides actionable strategies for sustainable success amidst turbulent times,” she said.

Lucas asserts that exceptional crisis management skills are essential in the face of staff exodus and geopolitical disruptions.

“TEXEM equips participants with the necessary leadership capabilities to lead through crises, ensuring organisational excellence even amidst adversity.

“Innovation becomes imperative in turbulent waters.

“TEXEM’s programme fosters a culture of innovation and provides guidance on harnessing adversity as a catalyst for profitable growth,” she said.

According to her, participants will learn to turn challenges into opportunities, driving sustained profitability.

Lucas said resilience and effective risk management are crucial in today’s volatile landscape.

She said through interactive sessions and case studies, TEXEM helps senior leaders develop unshakable qualities, enabling them to navigate uncertainty and confidently mitigate risks.

“Optimizing resource utilisation is paramount amidst soaring costs.

“TEXEM offers insights on managing resources efficiently, ensuring optimal impact even amidst cost pressures. Decisive problem-solving is paramount.

“TEXEM enhances participants’ decision-making capabilities through peer learning and observation practice, empowering them to make better decisions that drive organisational success,” Lucas said.

She said that beyond the curriculum, networking opportunities with industry peers enrich the learning experience, abound.

“Professional exchange provides valuable insights into different approaches to overcoming challenges, enhancing overall learning and impact.

“TEXEM’s programme aims to develop leadership strategies for optimum performance in an era of uncertainty.

“By helping participants understand how to manage and deploy resources more efficiently, it equips them with the skills needed to thrive in turbulent times,” Lucas said.

Saying that adversity is the mother of innovation, she added that TEXEM empowers individuals and organisations to thrive in volatile times, fostering innovation and sustained profitability.

“At the end of the programme, participants can expect to develop leadership skills for better decision-making and possess survival skills to navigate crises effectively.

“Through its comprehensive approach and proven methodology, TEXEM ensures participants unlock their potential, foster innovation, and drive sustained profitability in today’s challenging environment,” Lucas said.

Continue Reading

Economy

Sanwo-Olu Urges Use of Innovative Technologies in Solving Challenges

Published

on

Sanwo-Olu Urges Use of Innovative Technologies in Solving Challenges

Gov. Babajide Sanwo-Olu of Lagos State has called for the use of innovative technologies in resolving the economic and social challenges of the country.

Sanwo-Olu said this on Wednesday during the pioneer graduation of the Lateef Jakande Leadership Academy (LJLA) at Konga Place in Lekki.

He said that the new platform of globalisation and Internet of things must be significantly employed to resolve new challenges encountered in the course of improving the living standards of citizens.

30 students, 15 men and 15 women, between 18 and 35 years, graduated from the academy after a one-year course and mentorship in leadership.

The Lagos Leadership Summit (LLS) is a pivotal platform dedicated to empowering Nigeria’s young professionals with the skills and insights essential for success in various leadership roles.

With a focus on leadership excellence, ethical governance, and youth inclusion in governance, the summit offers a unique opportunity for participants to engage with renowned leaders and industry experts.

” You have to be able to innovate for us, you are here as leaders of not tomorrow but today. Proffer solutions that the government can use as a tool, to solve the challenges that we are facing today but more importantly to solve global issues.

“And that is why we started the Lateef Jakande Leadership Academy. For us as a government, we felt how well can we honour a man than for us in public sector to set up a cream of new leaders.

“So we set up this school that has the first set, the one-year fellowship, who indeed have not only shown us that we took the right step, they have been outstanding individuals,” the governor said.

The guest speaker and former governor of Lagos State, Babatunde Fashola, noted that it was important for followers to trust their leaders for a successful outcome.

“The people need to trust the government, they must know the capability of their leaders so that when issues beyond human expectations happen, the followers can show empathy to the plight of their leaders.

” I have always been an advocate that believes that the process is as important as the result, the end shouldn’t justify the means, the process is crucial, it serves as a blueprint for others coming behind,” he said.

Similarly, Dr Obafemi Hamzat, Deputy Governor, who spoke on “Leadership And Community Engagement”, stated that to achieve effective leadership in Nigeria, there was the need to navigate complex political, economic and social landscapes.

Hamzat urged the citizens to be involved in governance while stressing the need for collaborations with private stakeholders and the public sector.

According to him, community engagement with government at all levels is pivotal to the nation’s development.

In her address, Mrs Ayisat Agbaje-Okunade, LIJA’s Executive Secretary, noted that the challenges faced required leaders who are not only capable but compassionate, visionary, and adaptable.

According to her, leadership must transcend rhetoric and manifest tangible outcomes.

“We need leaders who inspire confidence, foster unity, and drive transformation.”

Agbaje-Okunade urged the participants to embrace the responsibility that comes with leadership and pave the way for a generation of new leaders.

The keynote speaker, Mr Abubakar Suleiman, Chief Executive Officer, Sterling Bank, said that leadership is about leading people on a new purposeful journey.

Suleiman said being a strategic thinker and a transformational leader was what makes leadership different from management, adding that the future is being crafted in leadership.

“In essence, as a leader, you must be able to lead people to the future hence, you must be convincing for people to be bold to follow you, able to trust and believe in you.

“For one to be a leader, the people must be able to believe and trust you to take them to the future where you have never been to,” he said.

Also speaking, Mr Tunbosun Alake, Commissioner, Innovation, Science and Technology, stressed that leadership had nothing to do with being young or old but having good values and character.

The commissioner advised the participants to pursue excellence in their various career paths to succeed in life.

Continue Reading

Economy

Eid-el-Fitr: Tinubu Urges Sacrifice, Integrity For National Rebirth

Published

on

Eid-el-Fitr: Tinubu urges sacrifice, integrity for national rebirth

 President Bola Tinubu has urged Nigerians to continue to make sacrifices and exhibit integrity for national development.

Tinubu said this after observing the Eid-el-Fitr prayer at the Eid Ground at Dodon Barracks on Wednesday in Lagos.

The President also called on Nigerians to continue to have faith in his government and remain patriotic citizens.

Tinubu said that the Renewed Hope Agenda of his administration, aimed at bringing prosperity to Nigerians, was being diligently implemented.

Encouraging Muslims to extend the values of sacrifice and resilience beyond the fasting period, Tinubu emphasised the need for Nigerians to prioritise the exhibition of love for their country.

‘’The resilience and sacrifice that we have shown and made during these months should be preserved.

“Be a kind and cheerful giver. We must love our country more than any other country because this is the only one we have.

‘’We must continue to protect the integrity of our government and leadership. The Renewed Hope Agenda is alive, well and fine, and Nigerians should continue to be very hopeful. Without hope, there is no salvation.

“Without hope, there is no development. Without hope, there is no life. Eid Mubarak,’’ the President said at the end of the prayers led by the Chief Imam of Lagos State, Sheikh Sulaiman Abou-Nolla.

Earlier in his sermon, the Chief Imam urged Nigerians to shun all acts of violence, ensure peaceful co-existence, and continue to have faith in the country.

He asked those in leadership positions to remain faithful to their oaths of office and work towards alleviating the suffering of the less privileged.

‘‘Let us not forget our brothers and sisters in Gaza and other areas of conflict,’’ the Chief Imam said.

He offered prayers of God’s guidance, wisdom, and protection for the President and the Lagos State government, as well as for peace and stability in the country.

Continue Reading

Advertisement

Editor’s Pick

Politics