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General News

NEXIM Launches N36B Fund to Promote SME Sectors Across Nigeria

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The Nigerian Export-Import Bank (NEXIM) has launched a N 36 billion Export Development Fund to be disbursed to targeted export-oriented projects in the Small and medium-sized enterprises (SME) sector across the country.

Mr Abba Bello, its Managing Director/ Chief Executive, said this in Akure at the exporter enlightenment forum for the South West region held in Akure, the Ondo state capital.

Bello pointed out that a minimum of N1billion for every state of the Federation to be disbursed to targeted export-oriented projects in the SME sector,

Bello said that “As the nation’s Export Development Bank, the Nigerian Export-Import Bank (NEXIM), is in the vanguard of promoting economic diversification, towards increased jobs creation and foreign exchange earnings for the country.

“In this regard, and in line with the Zero Oil Plan of the federal government, which seeks to develop at least one exportable commodity in every state of the federation, we have launched the State Export Development Fund.

“Under this programme, we have earmarked a minimum of N1billion for every state of the federation to be disbursed to targeted export-oriented projects in the SME sector, towards crowding in investment and promoting regional industrialization and economic development.

“This fund is also expected to support the various states to benefit from the opportunities provided by the African Continental Free Trade Agreement (AfCFTA) to which Nigeria is a signatory.

“As you may all be aware, the AfCFTA, which commenced in January 2021 comes with enormous benefits, including a borderless market of about a 1.2billion people, with a combined GDP of about $3.4trillion.

“It, therefore, offers our SMEs, particularly those engaged in cross-border trade, the opportunity to increase their sales under a more liberal market condition.

“This scheme also seeks to corporatize and onboard our informal exporters into the formal sector, and through this capture the huge volume of informal trade which has been estimated at about four times the value of recorded trade.

“While our intervention under the State Export Development Programme is targeted mainly at export-oriented projects promoted by the private sector, the State governments have a major role to play towards creating an enabling environment for the effective utilization of the fund, particularly in such areas as land allocation, issuance of permits and other necessary support.

“We have already commenced discussions with some state governments on this scheme and we hope to continue the engagements with all the state governments present here at this forum.

“Aside from the State Export Development Programme, NEXIM also offers other intervention schemes, which include the Women and Youth Export Facility (WAYEF), which was recently launched as a financial inclusion strategy for the vulnerable groups.

“We also have the N500bn Non-Oil Export Stimulation Facility, which is targeted at the medium and large-scale exporters.

Bello lamented that ” it is rather a paradox that despite our huge human and natural resource endowments, Nigeria remains a mono-product economy, with the crude oil sector contributing about 70% of government revenue and about 90% of export earnings.

“Nigeria has over 44 solid minerals in commercial quantities, found all over the country, largely unexploited.

“The point of emphasis is that our country is so blessed, and our economy need not be tied to the vagaries of one commodity, which contributes less than 10% of our Gross Domestic Product.

Mrs Stella Okotete, the Executive Director, NEXIM Business Development, said the bank came to Ondo State because of the export potentials available in the state.

She said the bank was ready to partner with the southwest governments to develop the export capacities in the region.

Governor Rotimi Akeredolu said that Governors in the Southwest are steadily working together in the Agriculture sector through the formation of the Southwest Agric Company (SWAgCo).

According to the Governor, SWAgCo is a registered company under the Oodua conglomerate which was created for effective exploration of agricultural resources in the region.


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General News

1st of April Joke or a Cyberattack, Tips to Avoid Both

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A recent survey by Kaspersky has showed that 43.5% of employees and business owners using computers in the Middle East, Turkiye and Africa (META) region faced a situation when colleagues (24%), friends or relatives (19%) made jokes with their unlocked computer.

These jokes included sending funny messages or emails on behalf of the accounts’ owner, placing a screenshot of the desktop as a desktop background, and leaving unexpected pictures, notes, or photos in the files. At the same time just less than 3% of the survey respondents admitted to making such jokes themselves.

Similar tricks are also used by cyber attackers. For example, a phishing website may open in a new window in full-screen mode, so that the original browser bar with the phishing URL becomes invisible.

Instead, the attackers replace it with an image of the browser bar with the official link of some well-known organisation. This image may display various messages (both visual and audio), such as warnings that the computer has been blocked and a fine must be paid.

If the user does not know how to exit full-screen mode in the browser, they may think their computer is really locked. To escape such a trap, users can press F11 or Alt+F4 on Windows, or Cmd+Ctrl+F on a Mac, to exit full-screen mode and regain control.

Short links and QR codes should always be treated with vigilance as they may lead to unpredicted downloads or websites, not only claiming to be an “April Fools” joke. QR code phishing, known as Quishing, has been a growing concern in recent years.

Since there are threat actors looking to benefit from people’s trust in a service, it’s worth checking such links by copying and pasting them into a tool like GetLinkInfo or UnshortenIt. Cybersecurity solutions help with a built-in QR scanner that lets users check the link and warns users about landing on a dangerous website.

Additionally, hovering over a short link (without clicking) can sometimes reveal the true destination URL in the browser’s status bar, offering a quick safety check.

“Of course, a friendly joke won’t lead to the loss of money or data, that is the case with cyber attacks but may still be very unpleasant. Following simple rules when working with a computer, tablet or phone will help to avoid unpleasant consequences.

Be vigilant, have strong passwords in place and keep your devices locked,” notes Brandon Muller, technology expert and consultant at Kaspersky.


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SERAP Asks National Assembly to Drop Bill to Jail Nigerians who Fail to Vote

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Tajudeen Abbas, speaker of the House of Representatives, and Godswill Akpabio, Senate president
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Socio-Economic Rights and Accountability Project (SERAP) has urged Godswill Akpabio, Senate president, and Tajudeen Abbas, speaker of the House of Representatives, “to immediately withdraw the oppressive bill which contains repressive provisions to jail any Nigerian of voting age for six months and/or impose a fine of N100,000 on them if they fail to vote in national and state elections.”

SERAP Asks National Assembly to Drop Bill to Jail Nigerians who Fail to Vote

SERAP urged Akpabio and Abbas to instead “amend the Nigerian Constitution 1999 [as amended] and the Electoral Act 2022 to remove constitutional immunity for state governors and their deputies who commit electoral offences, including vote-buying, to facilitate the investigation and prosecution of perpetrators.”

SERAP also urged Akpabio and Abbas “to amend the Nigerian Constitution and the Electoral Act to explicitly prohibit the appointment of members of any political party as resident electoral commissioners (RECs) of the Independent National Electoral Commission (INEC).”

There is currently in the National Assembly a ‘Bill for an Act to Amend the Electoral Act 2022 to Make It Mandatory for All Nigerians of Majority Age to Vote in All National and State Elections and for Related Matters.’ The bill seeks to make voting compulsory and prescribes a six-month jail term or a fine of N100,000 or both for non-compliance.

In the letter signed by Kolawole Oluwadare, deputy director, SERAP at the weekend,  the organisation said: “Jailing eligible Nigerians for deciding not to vote would be entirely inconsistent and incompatible with the letter and spirit of the Nigerian Constitution and the country’s international human rights obligations.”

SERAP said, “Rather than proposing bills that would severely punish Nigerians who may decide not to exercise their right to vote, the National Assembly ought to propose bills to remove constitutional immunity for governors and their deputies who commit electoral offences and undermine the integrity of the electoral process.”

According to SERAP, “The most effective way to solve the perennial voter apathy is to create a safe and conducive environment, combat the impunity of high-ranking politicians who commit electoral offences, and generally improve the electoral process to encourage the citizens to come out to vote, and not to send them to jail.”

The letter, read in part: “Should the National Assembly fails to drop the bill prescribing a six-month jail term for eligible Nigerians who decide not to vote in national and state elections, and should any such bill be assented to by President Bola Tinubu, SERAP would consider appropriate legal action to challenge the legality of any such law and ensure they are never implemented.”

“The idea of compulsory voting and jailing citizens for not voting is impracticable, unnecessary and unlawful. The right to vote is part of citizens’ right to participate in their own government and the choice of whether to exercise it is personal.”

“The right to vote includes the right not to vote. If the right to participation is a right of the citizen, she/he must be free to decide whether or not to exercise it.”

“Because the notion of a democracy exists by virtue of the consent of the citizens, voters must get to choose how they exercise consent, not be forced to the polls like ‘cattle to the slaughter.’”

“The National Assembly ought to propose bills to reduce the influence of money in politics, and encourage and not compel the exercise of the right to participation.”

“The proposed bill is a blatant violation of the right to political participation, which is guaranteed under section 14(1)(c) of the Nigerian Constitution, article 25 of the International Covenant on Civil and Political Rights and article 13 of the African Charter on Human and Peoples’ Rights to which Nigeria is a state party.”

“SERAP also urges you to amend the Nigerian Constitution and the Electoral Act to include explicit mandatory provisions on internet voter registration, and the use of modern technology, including in casting and counting, voter registration and systems for reporting results.”

“Amending the Nigerian Constitution and the Electoral Act to explicitly include the right of eligible Nigerians to vote and to vote securely would enhance the effective enjoyment of their right political participation and representative democracy.”

“It would rebuild public confidence in the ability of the National Assembly to effectively perform its constitutional responsibilities.”

“Any amendment of the Nigerian Constitution and the Electoral Act must include bills to address and punish governors and their deputies and their agents who commit electoral offences including voter suppression, voter intimidation and the destruction of polling units or theft of election materials.”

“It is important for the National Assembly to introduce and pass bills that would effectively rein politicians who continue to abuse the electoral rules to distort and undermine the right to participation with almost absolute impunity.”

“Removing constitutional immunity for governors and their deputies who commit electoral offences would address the brazen impunity for electoral and human rights crimes which frequently characterise the country’s elections.”

“The major problem facing the country’s democracy is the lack of respect for Nigerians’ right to participation and the concomitant lack of trust in election results. If citizens do not believe in the election process, then the entire system of democratic government becomes a questionable enterprise.”

“The crisis confronting Nigerian elections and lack of public trust and confidence in the electoral process can be addressed if the right of Nigerians to vote and to vote securely is explicitly recognized in the constitution as justiciable right.”

“Nigerians do not currently enjoy explicit right to vote and to vote securely. Although the Nigerian Constitution 1999 [as amended] provides in Section 14(1)(c) that, “the participation by the people in their government shall be ensured in accordance with the provisions of this Constitution”, this is not recognized as legally enforceable human right.”

“Nigerian election laws ought to be such that would give effect to the electorate’s will and uphold the popular mandate through clean, fair, and honest elections. The right to vote in a democracy is important because so many other matters depend upon its exercise.”

 


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FG to Elevate Enugu Tech Festival to National Event – Minister

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Dr. Bosun Tijani, minister of Communication, Innovation, and Digital Economy, has annunced plans to elevate Enugu Tech Festival (ETF), to a national event.

FG to Elevate Enugu Tech Festival to National Event – Minister

Enugu Tech Festival is scheduled for May this year,

The minister during a working visit to Enugu State, disclosed plans to personally attend the festival and ensure its expansion to attract tech professionals from across the country.

The Enugu Tech Festival would help to strengthen the ongoing collaboration between the state and the federal government in advancing technological innovation, digital infrastructure, and entrepreneurship in the southeast region.

Commending the leadership of Governor Peter Mbah, Tijani praised his vision for fostering innovation and technological development in Enugu.

He lauded the governor’s achievements in critical sectors such as infrastructure, education, and industry, highlighting how the advancements lay the foundation for a vibrant digital economy that will empower the state’s youth.

The minister outlined a series of groundbreaking initiatives aimed at further transforming Enugu’s technological landscape.

One of the most significant announcements was the launch of the Project 774 Connectivity Initiative, a project designed to bring internet access to all 17 local government secretariats across the state.

Powered by Galaxy Backbone and NIGCOMSAT, the initiative will ensure seamless connectivity for government offices and the public, facilitating efficient governance and service delivery.

The collaboration between Galaxy Backbone and Enugu State will lead to the establishment of a Digital Innovation Complex.

The complex will serve as a hub for technological growth, digital innovation, training, and entrepreneurial support.

It will also connect over 200 state-owned institutions, including schools, healthcare centers, and government offices, to reliable internet services, further enhancing the state’s digital infrastructure.

Tijani announced the federal government’s plan to extend internet access to underserved areas in the state through the Universal Service Provision Fund (USPF).

“This effort will include the installation of a new base station and the laying of 15 kilometers of fiber optic cable to provide high-speed internet.

“As part of this initiative, computer laboratories will be set up in one secondary school and one tertiary institution in Enugu,” he said.

He also announced plans to establish an Artificial Intelligence (AI) Regional Centre at the University of Nigeria, Nsukka.

“This centre will become a focal point for AI research and development in the South East, offering state-of-the-art facilities to foster innovation in artificial intelligence”, he added.

“As part of this initiative, we plan to train 100 cybersecurity professionals in Enugu, boosting the state’s cybersecurity capabilities as part of a nationwide effort.

“The Digital Literacy for All (DL4ALL) initiative, will train 1.155 million Enugu residents in essential digital skills by 2027.

“This program will prioritise underserved groups, including artisans, market women, civil servants, and students, ensuring that everyone has the opportunity to engage with the digital economy,” he said.

The minister also expressed satisfaction with the success of the 3MTT Programme in Enugu, which has already received over 14,000 applications, adding that the program aims to empower the youth by equipping them with the skills necessary to thrive in the digital economy, to train over 150,000 fellows in the state.

Other key projects unveiled included the establishment of a Tier III Data Centre, a Co-working Space for tech entrepreneurs and SMEs, and an Incubation Hub to support innovation and provide mentorship and funding to tech startups.

 

 

 

 

 

 

 


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