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Nigeria Needs Financial Engineering To Surmount Economic Challenges – Ogomudia
DAN DENT( ASABA)
SPONSORED BY: H&H
Former Chief of Defence Staff, General Alexander Ogomudia (rtd.), on Friday, said Nigeria requires great financial engineering to enable the country resolve the multifaceted economic challenges bedevilling its sustainable development.
General Ogomudia disclosed this at the public presentation/launch of a book titled “200 Most Outstanding Deltans” held at the Unity Hall, Government House, Asaba.
He added that financial engineering was also needed to generatee resources that would oxygenate the economy of the nation as well as the foreign reserves needed for the country to interface with the global economic system.
According to him, the present situation in the country, if left unresolved, could lead to inability of government to pay salaries with the attendant consequences of social upheavals unless the government would continue to take loans.
“We were told that Nigeria needs a total of N13.57 trillion naira to run as a country but we are barely able to generate N5.5 trillion naira in revenue out of which, last year, we spent N4.2 trillion naira on debt servicing thus leaving only N1.3 trillion naira as against N13.57 trillion which we needed to run the country.
“You will agree with me that resolving this kind of economic challenge will require great financial engineering.
“This kind of engineering is also needed to generate resources we need to run our country and the foreign reserves needed for us to interface with the global economic system.
“This situation, if left unresolved, could lead to inability of government to pay salaries with the attendant consequences of social upheavals unless we are going to continue to take loans,” the retired General said.
Speaking on the book (200 Most Outstanding Deltans) jointly authored by Pastors Powell Tos, Kennedy Bienose and Mr Nelson Egware, Ogomudia said the publication was a power house of individuals whose personal achievements are truly outstanding.
According to Ogomudia who was the Chairman at the ceremony, the public presentation/launch of the book, by implication, speaks to the subject of development be it in Delta State, some other states or in Nigeria generally as a country.
“To some people, the event of today is an ordinary one but to me, it is unique and special since it mirrors a perspective to development which recognises achievements, hard work and the idealism of performance per excellence.
“From the names of those who made the list in this first edition, it is clear that putting the list together, like the Secretary said, is a herculean task.
“I am aware that Delta State parades some of the best talents in this country. Therefore, the list would have been a lot longer than what we have now but I believe that subsequent editions, like the Secretary said, would definitely address all that have been ommitted,” he said.
While congratulating the outstanding personalities, Ogomudia noted that their recognition through the publication, was a further manifestation of a little mustard seed which, he said, was planted by Governor Ibori at the onset of democratic governance in 1999, adding that Ibori set the stage for the recognition of Deltans who were able to make it to the top of their careers.
“Today’s event, therefore, marks another dimension in performance and recognition of individual achievements since it has some historical perspectives through the launching of this book.
“The 200 outstanding Deltans who made the list, have made history today. Indeed, their achievements and joint contributions made today’s event possible. If they didn’t achieve, l am sure nobody will waste his time trying to put together a list,” he stated.
“Occasions like this, according to him, work for our youth because they are our hope for the future, adding that they must recognise that the profound challenges of the future which stretched before them are enormous.
“To this extent, you must note that every generation has its own challenges and yours, l doubt if it could be an exception.
“If you are prepared to play any role of your own which off course, you must do, you must recognise that the future is already here with most economies now being technologically driven.
“In addition, competition for the best jobs and industries will come from the cutting edge technologies which you must endeavour to play a role.
“The challenges will also include mind bogging inventions that are coming up daily which are also knowledge driven for which you must prepare yourself adequately,” Ogomudia said, pointing out that the event should serve as a catalyst that will spur the youth into working hard in order to meet the challenges ahead.
In his remarks at the ceremony, Governor Ifeanyi Okowa thanked the authors of the book for their painstaking effort in putting the book together.
The Governor who was represented by his deputy, Deacon Kingsley Otuaro said in a population of about 6 million people that are outstanding in their different respect, picking 200 most outstanding “is undoubtedly, a very painstaking work.”
“l want to use this opportunity to say that whoever that is there, is there in a representative capacity of the fact that we are all true Deltans and we are all winners,” he added.
Earlier in his welcome speech, the Secretary of the organising committee, Pastor Kennedy Bienose disclosed that the book is a document for posterity, adding that there would be subsequent editions, even as he said that the e-version of the book would be available soon.
The book reviewer, Godfrey Ubaka who is the Editor-In-Chief of The Pointer Newspaper said the book which was lucidly presented was aimed at celebrating excellence.
The highlight of the ceremony was the unveiling of the book by the Minority Leader of the House of Representatives, Hon. Ndudi Elumelu and Speaker of the State House of Assembly, Chief Sheriff Oborevwori, among other dignitaries.
News
NITDA Issues Guidelines for IT Projects, Regulatory Instruments
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
As part of effort to gaar up The National Information Technology Development Agency (NITDA), the agency is seeking public feedback on several draft documents related to Information Technology (IT) projects and regulations.
August24news.com gathered that this aligns with NITDA’s commitment to an open and collaborative rulemaking.
The legal Documents Open for Public Review are Guidelines for Licensing IT Projects Clearance Compliance Assurance Firms 2024; Regulatory Guidelines for Electronic Invoicing in Nigeria; Guidelines for Software Development; and
Guidelines for Software Testing.
NITDA is also proposing the amendment of the Guidelines for Clearance of IT Projects for Federal Public Institutions (FPIs). guidelines, initially issued in 2018.
The Guidelines for Licensing IT Projects Clearance Compliance Assurance Firms 2024 aims to ensure that IT projects within Federal Public Institutions (FPIs) are managed and implemented according to approved and established standards, regulations, and best practices.
The instrument will regulate and professionalise the clearance of IT projects, ensuring that FPIs IT projects and initiatives are effectively conceptualised, designed, evaluated, and compliant with relevant Federal Government extant rules and standards in line with the Federal Government’s digital infrastructure goals and the Renewed Hope Agenda.
The Regulatory Guidelines for Electronic Invoicing is designed to promote transparency and deepen the use of technology for e-government automation as well as support the fiscal development of Nigeria through prudent administration of government revenue.
The guidelines will improve tax compliance, enhance efficiency and enhance standardisation and interoperability, thereby ensuring that Nigeria is ready for international digital commerce.
The Guidelines for Software Development establishes the minimum requirements for the development of software to be used by Nigerian government entities.
It ensures that all software meets quality, security, and operational standards, promotes the growth of the local software testing market, and enhances the efficiency and effectiveness of government services.
The objectives of the guideline are to ensure that software is fit-for-purpose, meeting functional and non-functional requirements, and protect government institutions from operational risks through security, reliability, and performance standards.
To Participate:
These draft documents have undergone internal review and stakeholder consultations. NITDA now invites the public to contribute their feedback by reviewing the documents available for download at: https://nitda.gov.ng/draft-regulatory-instruments/
Public participation is crucial for NITDA to develop comprehensive and effective regulatory instruments.
By considering diverse perspectives, NITDA can ensure these guidelines best serve the needs of the IT industry and promote the development of a thriving digital economy in Nigeria.
Stakeholders are advised to send in their review to regulations@nitda.gov.ng on or before 26th November 2024.
News
Pernod Ricard’s CEO for Africa and Middle East Visits Nigeria, Reinforcing Market Commitment Amidst Dynamic Landscape
Pernod Ricard’s CEO for Africa and Middle East Visits Nigeria, Reinforcing Market Commitment Amidst Dynamic Landscape
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Pernod Ricard, the world’s second-largest wine and spirits company, reaffirmed its dedication to Nigeria’s thriving market through a recent visit by Africa and Middle East CEO, Selcuk Tumay, accompanied by Chief Financial Officer Africa, Nevzat Akkiz, and Managing Director Africa, Sola Oke.
Pernod Ricard’s Africa and Middle East CEO, Selçuk Tümay (center), with Pernod Ricard Nigeria Management Team, MD, Pernod Ricard Africa and CFO, Pernod Ricard Africa and Middle East, Nevzat Akkız, during the recent visit of Selçuk Tümay to Pernod Ricard Nigeria.
The visit began with a business review at Pernod Ricard’s Lagos office, assessing regional performance and strategic planning. A “Meet and Greet” session recognized local employees’ talents, fostering conviviality.
An immersion into the Nigeria’s vibrant retail landscape followed with an open market visit to Oke-Arin Market, guiding discussions on adapting marketing strategies. Retail partnerships were reinforced by visits to top stores, enhancing in-store experiences. At night-time, On-trade visits showcased Pernod Ricard’s premium offerings. The Key Distributors were not left out during the visits. These visits underscored collaborative relationships for a brighter future.
Selcuk Tumay stated, “Despite Nigeria’s complexities, especially foreign exchange volatility, we are optimistic. Adapting strategies will drive growth, support local partners and deliver exceptional consumer experiences.”
Exploring operational excellence: Pernod Ricard’s Africa and Middle East CEO, Selçuk Tümay, during a recent visit to Pernod Ricard Nigeria’s warehouse.
Building on success in Turkey and the Middle East, where innovative marketing and strategic partnerships fuelled double-digit growth, Pernod Ricard applies these learnings to Nigeria.
“We can leverage Turkey’s and the Middle East’s successes and best practices to navigate Nigeria’s challenges and unlock opportunities,” added Selcuk.
News
SUNU Nigeria’s Free Mammogram/Breast cancer Screening Receives Positive FeedbackSUNU Nigeria
SUNU Nigeria’s Free Mammogram/Breast cancer Screening Receives Positive FeedbackSUNU Nigeria –
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
SUNU Assurances Nigeria Plc, a leading insurance company and SUNU Health Nigeria Limited, a reputable health maintenance organization (HMO) in Nigeria, has received overwhelming positive feedback from beneficiaries of its recent free 3D mammogram-breast cancer screening initiative.
The program was launched to raise awareness about breast cancer and provide early detection services, was widely lauded by participants.As gathered, SUNU Nigeria remains committed to promoting preventive healthcare and empowering women.
Through the offering of free breast cancer screenings, the company aims to reduce the burden of breast cancer and improve the overall health and well-being of Nigerian women.
The initiative, which took place at DIAMED Centre, located at heart of Lekki, Lagos, attracted a large number of women from diverse backgrounds.
The screening process, which included mammograms and clinical breast examinations, was conducted by experienced medical professionals.Mrs Ajayi Funmilola, one of the 100 women who benefited from the screening exercise expressed her gratitude to the company.
“I’m so grateful to SUNU Nigeria for providing this free advanced mammogram screening. Of course, early detection is key, and this initiative has given me peace of mind.
Thank you for prioritizing women’s health”.Another beneficiary, Arogudade Feyisayo said, “The 3D mammogram screening offered by SUNU Nigeria was a game-changer.
It was a quick, painless, and thorough experience. I’m incredibly grateful for this opportunity to benefit from this initiative, I hope the company continue to be productive as they continue and increase the tempo in the future”.
“I’m incredibly happy to have had the opportunity to undergo a free 3D mammogram screening. It’s heartwarming to see a company like SUNU Nigeria prioritizing women’s health. May God continue to bless and prosper your organization,” commented Mrs. Olabisi Ajayi.
Commenting on the initiative, Mrs. Yusuf Japari, Head of Corporate Services at SUNU Assurances Nigeria Plc, highlighted the importance of corporate social responsibility, stating that the free mammogram screening is just one example of the company’s commitment to improving public health.
Mrs Yusuf stated, “At SUNU Nigeria, we believe in giving back to the community. By providing free 3D mammogram screenings, we’re not just offering healthcare; we’re empowering women to prioritize their health and well-being.
We are committed to continuing these initiatives to improve public health.”Dr. (Mrs.) Abiola Olorode, CEO of Diamed Centre stated that her facility is proud to partner with SUNU Nigeria to offer free breast cancer screenings during Breast Cancer Awareness Month. “By joining forces, we aim to promote early detection, educate women about breast cancer prevention, and ultimately save lives. We thank SUNU Nigeria for their commitment to improving public health and for sharing our vision of a healthier future.” SUNU Nigeria, encompassing SUNU Assurances and SUNU Health, is dedicated to improving as well as adding comfort to the lives of Nigerians.
SUNU Assurances offers reliable insurance coverage, while SUNU Health provides cost-effective healthcare solutions.
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