APA – Lagos (Nigeria)
The report that the National Economic Council comprising 36 state governors and Vice President Kashim Shettima has concluded a plan for state governments to implement cash transfer programmes using state-generated social registers dominates the headlines of Nigerian newspapers on Friday.
The Punch reports that the National Economic Council comprising 36 state governors and Vice President Kashim Shettima has concluded a plan for state governments to implement cash transfer programmes using state-generated social registers.
It said states-generated social registers would better reflect the number of vulnerable Nigerians to be reached with such cash transfer or palliative scheme.
This came on the heels of the plan by the government to roll out its intervention measures to cushion the effects of the hardships facing Nigerians, following the removal of the controversial fuel subsidy.
At its last meeting, the NEC had set up a sub-committee, which was tasked with coming up with plans to reduce the harsh economic conditions trailing the removal of fuel subsidy and the unification of the exchange rates.
“It is states that are better positioned to do that enumeration to ensure the integrity of the social register,” the Governor of Ogun State, Dapo Abiodun, told State House correspondents after the NEC meeting chaired by vice president at the Aso Rock Villa, Abuja on Thursday.
Abiodun spoke alongside the governors of Anambra State, Prof. Charles Soludo; Bauchi State, Bala Mohammed; and Acting CBN Governor, Folashodun Shonubi.
He said states-generated register “is aimed at enhancing the integrity and reliability of the National Social Register and ensuring that resources go to the intended beneficiaries.”
The newspaper says that the Manufacturers Association of Nigeria’s Export Group has trained local exporters as eight African countries have commenced exports under the African Continental Free Trade Agreement’s Guided Trade Initiative.
The Chairman of MANEG, Mrs Odiri Erewa-Meggison, revealed this at a two-day capacity-building training for exporters on Tuesday in Lagos.
The training was organised by MANEG, in partnership with British American Tobacco Nigeria, Indorama Group, Gongoni Company, Cadbury Nigeria, Guinness Nigeria, Rite Foods and Spectra Industries.
According to Erewa-Meggison, as the government continues to take steps to ensure the country’s participation in the AfCFTA, MANEG is determined to build the capacity of its members to optimise their understanding of the free trade agreement and take full advantage of the benefits.
She said, “So far, the practical implementation of AfCFTA started in September 2022, with the export of coffee products from Rwanda to Ghana; and the export of Exide Battery from Kenya to Ghana, under the Guided Trade Initiative within the eight state parties that have met the minimum requirements for trade under the agreement.
The Guardian reports that Investment bankers are optimistic naira would rally to between N550 and N600 to a dollar later in the year as the reform in the foreign exchange market crystalises and foreign capital flows into the economy.
They also forecast aggressive growth in the country’s foreign reserves, saying they could hit $60 billion in the year.
Hence, they charged investors to take advantage of the reform and position in the investment market ahead of the influx of foreign investors.
At AFRINVEST West Africa Limited’s mid-year investment parley held in Lagos, the Group Managing Director, Afrinvest West Africa, Ike Chioke, spoke on the opportunities provided by the naira and energy reforms to investors and how they could be explored for optimum returns on investment.
Speaking on the theme, ‘The Turning Point: Positioning for Optimal Return’, he called on investors to position themselves for the opportunities in the economy, which have been magnified by ongoing reforms.
Chioke said signals seen in both domestic and global economies showed that the country’s economy was at a turning point for greatness.
“We have seen global inflation rates dropping alarmingly over the last six or seven months. We’ve seen that the rate-tightening by global central banks has come to a point where they are pulling back.
“They have achieved the objective of reining in inflation. For Nigeria, the new government and ongoing forex reforms also have implications,” he said.
He said the removal of the petrol subsidy was expected to provide fiscal savings of N2 trillion in 2023, adding that this, together with earnings from improved oil exports and non-oil sources, would increase revenue.
The newspaper says that the Senate has asked employers in the country to relax age requirement as pre-condition for employment. The upper legislative chamber also implored the Federal Ministry of Labour, Employment and Productivity and other relevant agencies to discourage public and private employers from depriving millions of job seekers opportunities for not meeting age requirement.
Besides, the ministry was mandated to immediately draw up policies that relate to equality of opportunity and treatment in access to employment at all levels.
This followed a motion titled, “Age Requirement Pre-condition for Employment in Nigeria, Urgent Need for Intervention,” sponsored by Abba Moro, who represents Benue South Senatorial District.
According to the lawmaker, age limit or pre-condition for employment violates Chapter 4, Section 42 (2) of Nigeria’s Constitution, which guarantees every citizen the right to freedom from discrimination.
Moro said the provision of the International Labour Organisation (ILO) defines employment discrimination in economic terms as a violation of human rights that entails a waste of human talents with detrimental effects on productivity and economic growth.
The provision, according to him, generates socio-economic inequality that undermines social cohesion and solidarity. He said: “It is pathetic that a graduate in Nigeria who could not get a job upon graduation and decided to go back to school with the hope that a higher qualification, vis-a- vis a second or masters degree could give him a better employment opportunity is thrown into a career paradox when upon completion of his second degree, he comes out to find that he is now above the age of employment and therefore not employable by the sole reason of his age.”
“It is ironical that a graduate in this country can serve in the National Youth Service Corps (NYSC) programme at age 30 but cannot be gainfully employed on the fact that he/she is now above 30 years.”
“The circumstances described in the foregoing present the predicament of the Nigerian youths who has the requisite qualification, knowledge, skills and is ready to work but disqualified or excluded on the sole and unjustifiable ground that he/she is above the age limit by reason of his/her birth.”
Moro said this sad situation had led many to commit age fraud by going all out to falsify their age to remain within the age limit of employability to the civil service, and all other employers in the country.
GIK/APA