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Economy

CBN kicks off financial inclusion drive in Jigawa

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The Central Bank of Nigeria (CBN) has flagged off financial inclusion drive to improve access for women and youths to financial products and services in the State.

Director, Department of Development Finance of the apex bank, Abdul Ahmadu in his opening speech to mark the ceremony, said the initiative was targeted at the unbanked Nigerians and other stakeholders in the Northwest geopolitical zone to enable them benefit from the opportunities and improve their welfare.

Representing the Central Bank governor, Mr. Godwin Emefiele at the occasion, he disclosed that the first phase of the drive was held in Gombe State in the Northeast, stressing that 25,000 women and youths were engaged.

“The initiative is to improve access of unbanked Nigerians to financial products and services. We have selected your State as one of the first in this geographical zone to benefit from the opportunities available for unbanked adult Nigerians.

“The first phase of this drive held in Gombe and so far, over 25,000 women and youth were engaged with BVNs registered and accounts opened for participants in the community.

He indicated in his speech that, Jigawa State was first selected from the zone as a result of its peculiarity and the urgent need to introduce the targeted group to digital finance early enough and to consolidate on efforts to implement the Framework for Advancing Women’s Financial Inclusion in Nigeria.

He said the drive was not only critical
to economic development as financial inclusion benefits economies as well as individuals, but it would empower the rural dwellers.

“As the Central Bank of Nigeria, we are better able to perform monetary and price stability functions when we have the entire population under the formal financial system This allows appropriate policies and interventions to be deployed for economic growth and development

“Financial Inclusion is also important for households and businesses because interacting with formal systems allows individuals keep their finances safe in savings accounts, provides businesses the opportunities and encourages the habit of investment.”

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Economy

Jigawa Gov flags off digital financial inclusion drive for women, youth groups

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The Jigawa state governor, Muhammad Badaru Abubakar has flagged off digital financial inclusion drive for women and youth groups in the state for economic growth.
The week long programme organized by the Central Bank of Nigeria is targeted at registering twenty five thousand women and youth.
According to the Apex Bank, financial inclusion is for individuals and businesses to have access to useful and affordable products and services that meet their needs, transactions, payments, savings, credit and insurance delivered in a responsible and sustainable way.
Governor Badaru Abubakar represented by his deputy, Umar Namadi said financial inclusion is an important tool for financial growth which will improve the gross domestic product of a nation.

He called on CBN to make available their jingles in local dialects which should aired through the mass media for awareness Creation.
The central bank of Nigeria, Jigawa state branch controller, Sa’adatu Ibrahim Aminu represented by Head of development finance Abdul Ahmadu said the essence is to actively engage with the unbanked populations and provide them with necessary tools for economic empowerment and inclusion.

Good will messages were delivered by financial stakeholders in the state to acquaint the target audience on financial matters.

The financial inclusion drive for women and youth is running concurrently in five local government areas of Dutse, Buji, Eoni, Kiyawa and Miga between Monday 22 to Friday 26th of November, 2021

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Economy

Non-oil revenue now boosting Nigeria’s earnings says Osinbajo

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The Federal Government has announced that revenue flowing into the nation’s treasury through non oil and gas exports has surpassed earnings from Crude oil
This is coming based on concerted efforts to successfully diversify Nigeria’s economy from being dependent on oil and gas revenue’s,
Vice-president Prof. Olayemi Osinbajo, made the disclosure on behalf of the Federal Government
A statement by the media office of the minister said Osinbajo was ably represented by the Minister of Science Technology and Innovation,  Dr. Ogbonnaya Onu, at the Nigerian Society of Chemical Engineers (NSCHE) 51st Annual International Conference/AGM in Lagos on Thursday with the theme of
“Chemical  engineering  and the changing  world”.
The Vice President said that the Federal Government has worked tirelessly to ensure that Nigeria achieves full economic diversification and not be caught napping as crude oil and gas are no longer the major fuel that drive global economies.
He said more technologically advanced nations of the world have switched to clean and renewable energy.
The vice president indicated that the President Muhammadu Buhari administration is preparing Nigeria to not only meet these challenges posed by the changing world but also, to help Nigeria occupy her rightful place among the comity of nations.  
He said;  “Many countries in different continents are now preparing themselves to depend less on fossil fuels. Electric cars are found on roads and streets of many of the technologically developed countries of the world. This has sent a clear signal and a strong message that fossil fuels will not be as important as they are in the years to come.
“Our nation must prepare for a future where crude oil, which has for long been our major source of revenue will no longer occupy its prominent position in the economies of many nations.”
He used the occasion to further advice the Nigerian Manufacturing stakeholders to produce almost everything that is needed in the country, this will lead to less exports, a stronger Naira and a stronger economy.
Prof. Osinbajo, said that Chemical engineers, whom he described as “Process Engineers”, should be at the centre for a self-reliant Nigeria. 
“As process engineers, you will add value to our numerous raw materials converting them into products.
“The nation needs you to achieve food security; produce enough water for human consumption, use in agriculture and industry; provide shelter for our people; clothe both the old and the young; solve our energy and transportation problems; provide drugs and medical equipment for our health care; and provide necessary equipment to help us secure our nation.”
The Vice President urged participants to continuously revise their academic curriculum, so as to train and prepare chemical engineers for the next decade and indeed the next century. This he added, is the best way to ensure that Nigeria fights and defeats extreme poverty. 
He assured the general public and participants of the Federal Government’s unrelenting zeal to work closely and support their role towards national building.

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Economy

Orederu canvasses for more investments in Agriculture for food security, job creation, national security

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By Ahmed Rufa’i Dutse

To tackle the current insecurity ravaging the country, aggressive drive into agro-allied farms and companies for massive food production must be embarked on, Course 30 of the National Defence College Abuja has advocated.

Team Leader of the participants of the course 30, Air Commodore Abolaji Orederu made the disclosure while fielding questions from news men at Malam Alu Agro Allied Farm in Birninkudu during their study tour to Jigawa state,.
According to him, such drive in agriculture will also create job opportunities for the teeming population of the younger generation thereby making them unavailable for crimes and criminalities.

The course 30 team leader also urged wealthy individuals to support government through establishment of factories and Agro Alliied industries to ensure there is food security and job opportunities to obsolve the teaming jobless youth across the country.

Air Commodore Oredure explained that hunger and poverty due to redundancy and joblessness among is the precursor for increased and widespread insecurity in Nigeria.

He commended the chairman of the Malam Alu Agro Allied company for establishing the farm in his locality “where it has improved food production created job opportunities.

Oredure therefore applauded the security reporting system employed in the state which is an integrated system that involve the traditional and and religious leaders and government and security agents, starting from hamlet’s head to village, to district to the emir to the local government up to the Governor.

“It is a very good system which is making the state to be safer security-wise.

According to him “What we’ve seen so far in Jigawa state is a state that is focused, a state that is organized and a state that has developed a system that is working for security and for socioeconomic activities”.

“And particularly, because we’re looking at the whole of society approach to enhancing human security. And what we’ve seen in Jigawa is a system that is working, especially some of the security infrastructures that have been put in place by the state government.
“We a look at the reporting system-right from the ward heads level to district heads, to village heads, to the emirates and to the state government”.
“And then the synergy between the various agencies of government. We’ve seen a situation that indicated that when all stakeholders work together in an integrated system they will achieve enhanced security in the state.

“We believe that the governor has done a significant work that is supposed to be emulated”.

He also described the state as one of the most peaceful in the country, with less or no security challenges
“Jigawa state is one of the most peaceful in the country, very safe and secured without challenges of kidnapping and banditry that are prevailing even in neighboring states,” he said.

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