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Ngige inaugurates electronic platform for job seekers

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Ngige inaugurates electronic platform for job seekers
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Ngige inaugurates electronic platform for job seekers

The Minister of Labour and Employment, Dr Chris Ngige, on Monday in Lagos inaugurated an upgraded electronic platform, National Electronic Labour Exchange Centre (NELEX), to minimise challenges being faced by job seekers.

The inauguration was held in collaboration with the Nigerian-German Centre for Jobs, Migration and Reintegration (NGC), Lagos and German Agency for International Cooperation, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).

NELEX is an electronic platform that also enables job seekers to facilitate job matching and drastically reduce time and resources spent in job search.

Ngige said the event was yet another milestone in the ministry’s collaboration and partnership with GIZ.

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“Distinguished ladies and gentlemen, you will agree with me that the importance of this project cannot be over-emphasised in view of its numerous achievements, opportunities and benefits to the government and people of Nigeria.

“Therefore, the Federal Ministry of Labour and Employment (FMLE) is fully committed to the successful implementation of the NGC project.

“Its objectives are in line with the ministry’s mandate of promoting employment, safe, orderly and regular labour migration in order to deter irregular migration in the country,” the minister said.

Ngige inaugurates electronic platform for job seekers

Also, the Consul-General, Federal Republic of Germany, Dr Bernd Von Monchow, said sufficient availability of jobs was central to the progress of any country – even more in and after the COVID-19 pandemic.

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Monchow said the virus had become a major job-killer, further aggravating an already very difficult labour market situation with not enough job opportunities for the country’s rapidly growing population.

“The connection between migration and employment or the lack thereof has attracted increasing attention from which approximately 400 are returnees from Germany – have benefitted from business start-up support.

“These results could have never been achieved without the migrant respurce centres of the FMLE in Abuja, Benin and here in Lagos and department of Wages and Employment, FMLE.

“We look forward to see the continuation of this fruitful cooperation and the expansion of our activities in Lagos in 2022,” the consul-general said.

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In his remarks, the Chairman, Trade Union Congress of Nigeria (TUC), Lagos Chapter, Mr Gbenga Ekundayo, said that the Nigerian-German centre for jobs, migration and reintegration was a welcome development that required commitment of every stakeholder.

Ekundayo said, “Today’s inauguration will further enhance the capacity of the GIZ in training Nigerians, both returnees and locals, in various chosen fields with the development of the new facility here in Ikoyi.

“As a labour centre, the Trade Union Congress of Nigeria, Lagos State Council, will be working closely with GIZ and FMLE office of the Labour Comptroller in particular, to leverage on available opportunities to improve the lives of our members and Lagos people in general.”

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MTN Nigeria launches sale of shares to Nigerians

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MTN Nigeria launches sale of shares to Nigerians
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MTN Nigeria launches sale of shares to Nigerians

MTN Nigeria Plc (MTN) has announced the trial of e-SIM services on its network based on approvals received from the Federal Government.

MTN Nigeria Communications Plc (MTNN) has announced the price of its initial public offering to retail investors.

The company is making 575 million of its shares available to the public at N169 per unit, the telecoms heavyweight said on Tuesday.

Sales will open at 8:00 am on December 1 and close at 5:00 pm on December 14. It is the first time the company will invite subscriptions from the public nearly two years after it debuted on the Nigerian Exchange Limited (NGX).

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MTNN made the disclosure in a statement on the NGX website, signed by Company Secretary Uto Ukpanah and seen by newsmen.

“The minimum subscription is for 20 shares and lots of 20 shares thereafter. The offer includes an incentive in the form of 1 free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor,” he said.

“The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.”

This retail offer will be delivered via a digital platform, the first in Nigeria. By using the power of technology, the telco intends to facilitate the maximum possible participation by Nigerian investors, MTNN said.

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Commenting on the price announcement, MTN Nigeria’s Chief Executive Officer, Karl Toriola, said: “The success and growth of MTN Nigeria is intrinsically linked to that of Nigeria and Nigerians. Therefore, we are very excited to offer Nigerians the opportunity to own shares in MTN Nigeria.”

“Our journey to becoming the largest network in Nigeria has been humbling, but we still have a long way to go. There is much more to do to support the evolution of an inclusive digital economy, and we continue to invest as we evolve into a truly digital operator, capable of seamlessly integrating value across the evolving telecommunications, digital and fintech segments.”

The MTN Group President and Chief Executive Officer, Rolph Mupita, said the offer aligns with MTN Group’s strategic priority to create shared value.

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“In the last 20 years, we have worked diligently to connect 68 million subscribers onto voice and data networks and ensure that we deliver the benefits of modern connected life. With this Offer, we will contribute to the further deepening of Nigeria’s equity capital markets. It is the first in a series of transactions as the MTN Group implements its plans to ensure broad-based ownership by reducing its shareholding in MTN Nigeria to 65% over time.

This move is a broader arrangement to enlarge its market capacity to other African countries including Zambia and Uganda.

MTNN’s shares, listed in Lagos, closed at N190 per unit on Tuesday, recording no movement.

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Cryptocurrencies Bear High Risks – Putin

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Cryptocurrencies Bear High Risks - Putin
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Cryptocurrencies Bear High Risks – Putin

On Tuesday, Vladimir Putin, President of the Russian Federation, voiced his criticism regarding the state of the criticism sector at the “Russian Calling” investment forum in Moscow.

According to local news outlet lenta.ru, the president made the following remarks, as translated: “It is not backed by anything, [and] the volatility is colossal, so the risks are very high. We also believe that we need to listen to those who talk about those high risks.”

Putin called for the greater monitoring and regulation of cryptocurrencies and pointed out that certain countries worldwide are seeing significant adoption of digital currencies. Currently, cryptocurrency regulation is still in its infancy in Russia. Although the government is considering the launch of a central bank digital currency, at least eight federal laws and five legislative codes must be changed for the digital ruble to take effect.

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Cryptocurrencies Bear High Risks – Putin

Furthermore, no regulation exists in the country regarding cryptocurrency mining. This has led some to claim that $2 billion in crypto mining revenue is generated annually in Russia, but on that, no taxes are paid. Due to the lack of a regulatory framework, cryptocurrency use has soared among ordinary Russians, with transactions surpassing $5 billion each year.

In other parts of the former Soviet Union, cryptocurrencies are also rapidly gaining in traction. Kazakhstan has become the world’s largest Bitcoin (BTC) miner by hash rate, and its president is seeking to collect more taxes from such activities to fund the country’s expenses. In Ukraine, the government is actively encouraging legal crypto operations. Last year, the city of Olsztyn, Poland, began adopting the Ethereum (ETH) blockchain for emergency services.

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Buhari: Agric Varsities Should Tackle Dependence On Imported Food

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Buhari: Agric Varsities Should Tackle Dependence On Imported Food
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Buhari: Agric Varsities Should Tackle Dependence On Imported Food

Nigeria agricultural policy is focused on achieving sustainable green policy.

The President, Major General Mohammadu Buhari (retd.), stated this on Saturday in Umuahia at the 10th convocation of the Michael Okpara University of Agriculture, Umudike.

He noted that Nigeria universities of agriculture “must play their crucial specialized role in catalysing the development of the agriculture sector.

Represented by the Minister of Agriculture and Rural development, Dr. Mohammad Abubakar, the President said, “We have challenges, of funding, no doubt, but our endowments are far greater than our constraints.

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“Government expects that universities of agriculture should bravely confront the heavy dependence of our nation on imported food and raw materials with the view to reducing it to the minimum at the shortest possible time.”

Buhari: Agric Varsities Should Tackle Dependence On Imported Food

He noted that universities of agriculture were established with the strong conviction that they were cardinal tools for the rapid transformation of Nigeria agricultural sector, which he said “remains a major driver in industrial development, diversification from heavy dependence on non-renewable mineral oil, as well as achieving self-sufficiency in food production for local consumption”.

He said he expected “universities of agriculture, rapid development of the knowledge and skills to increase local production of food and raw materials” adding that his government was making efforts to put in place, policies and programmes to strengthen agencies and parastatals to provide an enabling environment for increased productivity.

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