Concerns over stop of food-supply to south Nigeria

Condemnation has continued to trail the decision of some cattle dealers from the North to cut food supply in the Southern part of the country.

The Amalgamated Union of Foodstuff and Cattle Dealers of Nigeria (AUFCDN), announced last Thursday the commencement of strike action over government refusal to meet its demands, which include compensation for the alleged killing of their members and cattle in the south, citing the recent clash in Shasha Market in Ibadan, Oyo, where they claimed to have lost billions of naira.

Consequently, many trailers transporting cows, tomatoes, onions, pepper, grains and other commodities were prevented from leaving a border town in Niger State to the southern part of the country from Thursday.

Kabiru Salisu, financial secretary of the AUFCDN, told reporters over the weekend, that the task force set up by the union was enforcing the strike in Niger State and other areas. He said the government had not reached out to the union on its demands, hence the strike, which he said was indefinite.

“There is a task force that we set up to enforce the directive by the union that there would be no transportation of cattle and foodstuffs to the South with effect from Thursday. So, the union set up the task force to prevent sabotage,” Salisu said.

Similar groups in the Middle Belt over the weekend dissociated themselves from the strike while condemning the group action. On Sunday, the Middle Belt Forum (MBF), in a statement by its national president, Bitrus Pogu, had called on the Federal Government and the relevant security agencies to flush out hooligans involved in illegal blocking of movement of food items to the south.

However, some concerned Nigerians who spoke in separate interviews with BusinessDay, on Monday, said such action by the union would further polarise the country, urging the Federal Government to take drastic action to normalise the situation.

They wondered why a responsive government would allow some people to hold the country to ransom by making unnecessary demands.

READ MORE: BUSINESS DAY

Business owners recount tales one year after COVID

Chisom Marvelous Elekwa is a young graduate of Public Health from one of the private universities in Nigeria. After two years without a job and not ready to watch her 50-year old mother struggle with her siblings school fees, Chisom in November 2019 went into the rice business, buying from producers and selling to consumers. She invested her life savings into the business which became instant success as she had huge patronage. But that joy was short-lived as the coronavirus disease which index case in Nigeria was detected in February 2020, took away her means of livelihood.

Fortunately, she applied and got N1millon loan from the Federal Government to cushion the effects of the pandemic. Today, Chisom is back to her rice business owing to the lifeline.

But while Chisom is grateful and happy, Jummai Abdullahi, another small scale entrepreneur is sad and distraught. She told BusinessDay that the N5 million MSME loan she took from the Central Bank of Nigeria (CBN) last year which she invested in cassava and poultry farming has become a source of sorrow. Her 10 hectare farmland located in the outskirts of Kuje in Abuja, was last year destroyed by cattle herders whom she alleged invaded her farm at a time the crops were about to be harvested. “My brother I am in tears. All the money I took from the CBN and the ones I borrowed from my bank went down the drain due to no fault of mine. I went to my farm on November 10, 2020 to discover that the cattle ate up all the crops. How and where do I start from paying back the loans?’’ she said with tears.

The above two cases illustrate the joy and sadness associated with small scale entrepreneurs who were pushed to the world by the ravaging effects of COVID-19 which was first recorded in Nigeria on February 27, 2020.

In one year, the COVID-19 pandemic has had a far-reaching impact on the country’s already fragile oil and import-dependent economy. The pandemic affected the livelihood of 85.2 million people living in poverty, who mostly sustain themselves on daily labour, and 41.5 million small and medium enterprises (SMEs), which account for 76 percent of the labour force and contribute half of the gross domestic product (GDP) but are mostly informal.

The World Bank Group predicts that the long-term fallout of the pandemic led to food shortages, massive unemployment, and large-scale business failure while the recession that followed may increase the number of people living in poverty to 95.7 million by 2022, and reduce Nigeria’s economic and development outcomes. The government has taken decisive actions to mitigate the humanitarian and economic impact of the pandemic and the oil price shock but the outcome is still uncertain.

Government efforts have been enhanced by a US$3.4 billion loan from the International Monetary Fund (IMF) and have been augmented by massive support from the private sector and development organisations.

In the wake of the pandemic, the Federal Government provided access to funds for households and businesses affected by the pandemic, including cash payments for the most vulnerable as well as an Economic Sustainability Plan (ESP) – a one-year programme estimated at ₦2.3 trillion, focusing on achieving mass employment and mass domestic production and on expanding pro-poor spending to protect the vulnerable.

There was also a fiscal stimulus for micro, small and medium enterprises (MSMES) which include N50 billion loan SMEs, extension of revenue remittance deadlines for key non-oil tax payments (VAT, corporate taxes) and 50 percent rebate on corporate taxes for employers who do not make staff cuts between March 1 and December 31, 2020. Others were: three-month repayment moratorium for all TraderMoni, MarketMoni, and FarmerMoni loans and to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture, and the Nigeria Export-Import Bank Central Bank measures.

COVID 19: Impact on businesses

The COVID-19 pandemic presented new challenges to businesses, disproportionately affecting smaller and less-efficient firms across all industries. Businesses had to move quickly to remote operations while ensuring business continuity under the lockdown. They had to change their operating models to safeguard workers and customers, manage disruptions in supply chains and cash flow, and respond to changing demand. Increased working capital requirements coupled with liquidity constraints, reduced access to forex for imports, logistics disruptions at ports and in interstate transport, and rising insecurity in the north have strained business operations. Right now, experts say many businesses are being forced to downsize operations, retrench workers, and reduce compensation to avoid failure.

READ MORE: BUSINESS DAY

How a gas company raised $650m facility…

The feat would have been remarkable on any given day. But amidst the threat of a raging virus that has shuttered national economies, it was even more remarkable.

How a new company, ANOH Gas Processing Company (AGPC), secured financing during a pandemic – by sufficiently derisking the project through a solid governance structure and smart strategy – provides lessons for how to acquire debt.

In November 2020, Seplat, Nigeria’s leading indigenous oil company, announced that it secured financing for the construction of the $700m ANOH gas plant facility sited at Asaa, Ohaji/Egbema in Imo State.

ANOH Gas Processing Company (AGPC) is an incorporated joint venture owned 50:50 by Seplat Petroleum Development Company and the Nigerian Gas Company, a wholly-owned subsidiary of Nigerian National Petroleum Corporation (NNPC).

This facility was obtained primarily from Nigerian commercial banks who ruing their decision to lend to the oil sector.

“This means that there’s a lot of hope for financing gas and gas-related activities,” said Mele Kyari, NNPC GMD.

We distill lessons from this transaction for investors who are embarking on similar projects.

Clarify your strategy

From the very beginning the company articulated a clear funding strategy. This usually entails developing a practical, working plan that specifies how you are going to raise money and the resources that it would deploy.

But it should not be just in your head. Seplat began communicating this plan over four years hinting the market that it would raise money through debt and equity.

“By the time they went to the lenders, they were well aware that this was coming and were prepared to meet with them This made the process smooth,” said Yetunde Taiwo, GM for new energy at Seplat during a presentation at the Nigerian Gas Association (NGA) virtual multilogues last week.

Have a great governance structure

One reason for the Nigeria LNG’s success is that it is an incorporated joint venture, unlike the traditional unincorporated joint ventures in the upstream oil and gas sector.

The incorporated joint venture is both the company and the business, unlike the traditional joint ventures where the companies are different from the joint venture.

This model gives the company a license to fund itself. It goes out to the financial and capital markets to raise funds for its operations, unlike the traditional joint ventures where equity contributions fund the business.

It is this model that was replicated by the APGC. It is the first domestic gas IJV with a simple equal shareholding structure, which gave the lenders some comfort and made the due diligence go smoothly, Taiwo said.

Investors are wary when they have to deal with governments in developing countries like Nigeria because of regulatory uncertainty. A study conducted by KPMG some years ago found that regulatory and political risks were the most pressing concern for investors.

“Any relationship that you have with the government that is perceived to be cordial, it gives the lenders a level of comfort that the partnership is solid and there isn’t the fear of interference coming from the side of government,” Taiwo said.

The Nigerian government is notorious for disrespecting contract terms but the odds are definitely stacked against you if certain elements in government express disapproval, and loudly against a deal where the government is a partner. Having the Federal Government support, on the other hand, is euphoric.

It is possible you may not incorporate a joint venture with the NNPC, but having a good corporate governance system assures investors of the sustainability of the business.

READ MORE: BUSINESS DAY

World Bank: Nigeria’s road to economic recovery

According to the World Bank, economic growth is expected to expand by 1.1% this year while Bloomberg forecasts GDP to contract by 1.5% in Q1 2021.

Africa’s largest economy has displayed resilience over the past few months.

From defending against the Covid-19 menace to battling untamed inflation and shouldering domestic risks.

Initially, the economic outlook was bleak during 2020 after the economy sunk back into its second recession in less than five years.

Lockdown restrictions caused significant disruptions in the value chain, halted most aspects of the economy while crippling the manufacturing sector.

A growing sense of alarm and unease over surging coronavirus cases added to the uncertainty, ultimately fanning fears around Nigeria experiencing a prolonged economic recession.

However, the economic expansion of 0.11% in Q4 2020 came as a breath of fresh air and offered some light at the end of the tunnel.

Although the economy contracted 1.92% for the full year, the rebound during the final quarter raised hopes that Africa’s largest economy was exiting from the Covid-19 induced recession.

According to the World Bank, economic growth is expected to expand by 1.1% this year while Bloomberg forecasts GDP to contract by 1.5% in Q1 2021.

Nigeria certainly has the potential to exceed these growth estimates due to rising oil prices and improving global economic conditions.

It must be kept in mind that earnings from oil exports account for over half of government revenues and about 90% of foreign-exchange earnings.

As oil prices appreciate, this provides the government with ammunition to attack domestic risks threatening the country’s fragile economic outlook.

In regards to other key metrics, inflation is seen averaging around 14% while the Central Bank of Nigeria (CBN) is forecast to hike interest rates at least once this year as economic conditions improve.

READ MORE: BUSINESS DAY

Stock market opens on a positive note

Nigeria’s equities market opened the month of March on a positive note, rising by 0.33 percent or N69billion at the close of trading session on Monday –the first trading day into the new month.

Thanks to UACN which led the advancers after its share price moved from N7.5 to N8, gaining 50kobo or 6.67percent.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation increased from day open low of 39,799.89 points and N20.823 trillion respectively to 39,931.63 points and N20.892trillion.

Monday’s positive close reduced the negative return seen year-to-date (YtD) to 0.84percent.

Other stocks that aided the positive close include AIICO which increased from N1.15 to N1.21, adding 6kobo or 5.22percent, Veritas Kapital Assurance which increased from 20kobo to 21kobo, adding 1kobo or 5percent.

Also, BUA Cement advanced from N72 to N74.75, up by N2.75 or 3.82percent, while Neimeth moved from N1.83 to N1.88, up by 5kobo or 2.73percent.

“Although the local bourse closed the day in the green, market sentiment remained tepid, evidenced by the declining turnover rate in recent times coupled with the negative market breadth”, according to Vetiva analysts in their March 1 note.

The analysts noted that except for any major significant upward movement in any large cap stock on Tuesday (as seen in BUA Cement on Monday), they expect the market to return south.

READ MORE: BUSINESS DAY

Nigeria’s local gas opens investment opportunities

The Federal Government of Nigeria is stepping up funding for important gas projects to promote the use of local commodities, opening up investment opportunities for pipeline construction, new industrial gas corridors and electricity projects. I am.

With increasing production from natural gas producers in a nearly bearish global market, the global reality of driving energy shifts to cleaner fuels could unleash Nigeria’s potential for gas for domestic use. It has become indispensable. In Nigeria, only 9 percent of the natural gas produced is used.

“We need a revolution in our energy system,” said Timipre Silva, Minister of Petroleum Resources, in a speech at the Nigerian Gas Association’s (NGA) multi-logue, which was virtually organized on February 25 and 26. I believe. “

“And in that context, an important decision and new impact we can make now is to continue to expand the role and opportunities of natural gas for economic recovery,” Silva said.

According to Silva, the government’s perception that gas will continue to play an important role in economic development has led to the creation of a program to “grow the gas economy through the development of industrial and transport gas markets in a gas-to-electric juxtaposition.” It was. Initiative. “

As a result, the government has mandated the Nigerian National Petroleum Authority (NNPC) to increase its domestic gas usage from approximately 3 billion cubic feet (BCF) to 4.5 BCF, and has identified several projects to drive this result. ..

Mele Kyari, Group Managing Director of NNPC, said in a presentation at the event that the major projects to unlock 4.5 BCF gas for local use were the OB-3 pipeline (AKK pipeline) and Assa North. (Brass petrochemicals), stated through a representative. Especially ELP.

The $ 3.2 billion 40-inch x 614 km Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, which is part of the Trans-Nigeria Gas Pipeline (TNGP), will move 2.2 billion cubic feet of gas per day from Kogi when completed. And you can cross Abuja. , Nigeria, Kaduna, Kano.

They are few, but the industry along this corridor has enough gas to drive growth. However, because the pipeline traverses a large, ungoverned region of Nigeria’s unstable northern region, there is an increased risk of pipeline instability.

The Obiafu-Obrikom-Oben gas pipeline, also known as the OB3 pipeline or East-West pipeline, is a natural gas pipeline that extends from the Obiafu-Obrikom gas plant in Delta to the Oben node in Edo.

The 48-inch, 127 km gas pipeline presents challenges, the latest being the original construction contractor, and Nestoil is technically unable to run the pipeline across the Niger River. The Chinese company China Petroleum Pipeline Engineering Corporation handles this and expects a completion date for the first quarter.

It is planned to supply gas projects in Asa North-Ohaji South, ANOH, one of the largest greenfield gas condensate development projects billed to produce 600 million standard cubic feet of gas per day. ..

If the project is successful, we will provide an alternative link to southwestern Nigeria whenever the critical Esclavos Lagos pipeline system fails.

Brass Fertilizer and Petrochemical Company Limited (BFPCL) is another high priority project. There are two trains producing 5,000 tonnes / day (MTPD) of methanol and 500 million standard cubic feet / day (MMscf / d) gas treatment to extract condensate from natural gas before supplying the remaining lean gas. Includes plant. Methanol plant.

It also includes gas manifolds and pipelines to connect gas processing plants to gas fields and export facilities.

“We are aiming to set up two gas hubs, one in Oven and the other in Brass,” said the NNPC boss.

The NNPC boss further said the gas hub “will make an announcement about gas prices, creating a situation where the industry will begin to mention gas prices in Nigeria.”

Other projects, such as Shell-led AssaNorth and the AssaNorthGas processing company that approved $ 650 million in funding, are also important projects.

“All projections show that 60-70% of the gas that forms the basis of 4.5 BCF comes from electricity. Therefore, broken power lines so that you can make money from your investment in gas. It needs to be repaired and improved downstream collection, “said NNPC.

To this end, the state-owned oil company is considering establishing an additional 5,000 mw of electricity in its network and is currently working with stakeholders to resolve the issue so that the investment can be realized. Said.

However, operators say gas pricing remains controversial. “Our investment has affordable gas prices. We need a price that works,” said Roger Brown, CEO of indigenous oil company Seplat.

Osagie Okunbor, managing director of SPDC and country chair of Nigeria’s Shell Companies (SCiN), said Nigeria’s regulatory approach to gas should not focus too much on renting like oil. He warned that a spurring financial and regulatory environment should be created. Investing in gas projects has a beneficial effect on the economy.

SOURCE: BUSINESS DAY

e-Commerce: Call to rescue SMEs’ Data Genocide

Post COVID-19 pandemic issues have disclosed that ‘unless we consciously promote and empower e-Commerce in Nigeria, the consequences may result in the annihilation of SMEs’! Indeed, without a well-structured and resilience SME segment, there may be no viable trade and commerce platform for constructive intervention to attain our sustainable development goals.

Gains from e-Commerce can write the cheque to significantly assist in reviving our dying SMEs and reduce youth employment in Nigeria.

This is possible if we can intelligently provide the framework to secure and analyse related data sets that gets missing in action by policymakers each day. The phenomenal data genocide observed in our trade-ecosystem, if rescued, can create millions of jobs; as well as value chains of wealth for the country. It will also renew lost hope for the disillusioned youths, their families and indeed contribute positively to the GDP. This calls for a proactive National e-Commerce policy and devoted strategies to energize indigenous business empires. – Advertisement –

Unarguably, the biggest problem we face in Nigeria/Africa is leveraging evidence-based data for accelerated development and economic advancement. For want of an equitable expression, with respect to e-Commerce analytics; it appears we are annihilating data required for the growth and security of life. In other words, our concern should now be focused on exploring if we are not facing an e-Commerce data genocide in Africa?

It is significant to note that data genocide contributes to catastrophic e-Commerce poverty in Nigeria/Africa. This is against the background of the energy status in the production and development processes of the wealth creation value-chain. For example, reliable data informs that the total energy consumption required for the advancement of education, shelter, trade and security in Africa is equal to the total power generation and consumption volume in the Republic of Spain!

Therefore, this is the right time to empower mega e-Commerce companies in Nigeria.

To achieve this, the smart economic approach is to urgently start trade recovery investment to rescue millions of small-scale SMEs currently on life support and dying out there.

In the United States, for example, over 480,000 small-scale enterprises have gone under! SMEs represent the economic backbone of mega enterprises and sustainable mechanism for effective governance and national security-of-things. – Advertisement –

Reliable estimates indicate that if an e-Commerce outfit such as Konga in the Zinox Group and others are empowered to create a physical market distribution presence in the 36 States; the stimulant intervention will energise the creation of 20,000 new small-scale enterprises with capabilities to create over five million jobs and related activities in the trade, commerce and logistics industries.

In a span of 24 calendar months; e-Commerce enabled solar energy to millions of homes will produce three million employment avenues for Nigeria.

Post-pandemic reality has now cleared the air that the world can now anticipate a 276.9% increase in worldwide eCommerce sales over the most-recently tracked period (cumulative data).

However, many business owners and investors are vigorously scratching their heads and strategizing on how to participate and scale into that magic number adding up to $4.7 trillion; where e-Commerce has a sizeable chunk in the market playbook. How can Nigeria’s e-Commerce domain benefit from the emerging market?

Today, the term going global has become almost meaningless. The irony is that all nations, business and everything in-between is dreaming of going global. Whereas, this is an illusion because the world is intertwined and already gone global.

The new challenge is that some geographical spheres are dreaming of rebuilding traditional trade fences – domestically! Nevertheless, the Harvard Business Review recently informed that: “Business leaders are scrambling to adjust to a world few imagined possible just a year ago.

The myth of a borderless world has come crashing down. Traditional pillars of open markets — the United States and the UK — are wobbling, and China is positioning itself as globalization’s staunchest defender.”

Currently, the majority of the world’s entrepreneurs/CEOs recognize that Big-Data holds the key to discovering and recovering the abundant wealth in Africa. But without evidence-based predictive analysis, the e-Commerce benefits will perhaps remain a pipe dream. Now, how can we propel African e-Commerce to the next level and at the same time limiting the risks?

Historically, Africa had been a mega trading continent. And to date, Africa remains a trading destination continent – reminding us about Mansa Musa of the old Mali Empire and the gold riches. The recorded fame of Musa I. (c. 1280 – c. 1337), or Mansa Musa, apart from his kingship background, was entirely due to his ingenuity in trade and commerce.

Little wonder he has been described as the wealthiest individual in all human history. But today the continent has been inundated with several challenges – limiting her trade development potential and innovation.

Visibly noticed as central to Africa’s development challenges are technology and related trade and commerce infrastructure. The good news today is, the same technology phenomena infested by digital transformation is igniting Africa with the e-Commerce revolution.

It is evident that this revolution is happening at the speed of thought while Africa’s data rate of response to digital commerce is better described as unacceptable snail speed that leads to nothingness. Ironically, the continent still harbours a major chunk of global wealth.

The resilience to conquer those challenges lies on the capability and mastery of e-Commerce delivery and services. What constitutes the beneficial substances of re-imagining the Nigerian trade and commerce model?

Numbers speak. According to WTO, ‘‘Africa is undergoing a remarkable energy transformation. But African governments and their international partners must accelerate that transformation if we are to achieve our collective ambitions. Access to clean modern energy, especially in Africa, where 620 million people have no electricity, is critical to the success of global efforts to tackle poverty.’’

One critical factor stands out, and that is, digital infrastructure to promote e-Commerce and energize multi-sectoral market segments.

The telecoms infrastructure support to e-commerce logistics and service delivery remains a strategic imperative. The INFRACO initiative targeted at the telecoms section holds a great promise if the investment assurances are strategically put into action as a post-COVID-19 pandemic recovery plan.

This is critical, especially if channelled in partnership with experienced and trustworthy development groups. Again, a good example of such dynamic groups in Nigeria is the Zinox Group where Konga qualifies and fulfils the expectations of showcasing reasonable equity to eliminate financing gaps. This can be achieved by concentrating such investment into digital innovation solutions.

In the long term, as demonstrated by InfraCo Africa, Infraco model investment championed by proactive Government financing reduces identifiable risks and costs of implementation. Not only that, it goes a long way to ensure project reliability and standards that fulfils the expectations of sustainable development Goals (SDGs).

Looking at 2050, what will become of our post-COVID-19 economic outlook, without a dynamic and health e-Commerce ecosystem? A very lucid question indeed! Will the digital evolution validate the known adage that; “when the poor have nothing more to eat, they will consume the rich”?

This is the time to act. We must not allow the looming digital tsunami to consume our trade and commerce missions. There will be great consequences if that is allowed to happen. We must avoid travelling back in time from the digital divide to the invisible traps of emerging digital poverty!

Let there be action. The nation is at war with the COVID-19 pandemic. The vaccines are knocking at the door. Now, the central concern is how to empower the youth to engage and own the emerging digital knowledge ecosystem. This can be done by instituting a special national cluster for Nigeria’s Digital Transformation Innovation Readiness for Nigeria.

The first line of action is creating and reconstructing a digital transformation movement mindset and political will to defeat consumerism, corruption and enthrone bold philosophies of prioritizing merit for advancement in science and technology-enabled manufacturing. Nigeria must lead this complex mission in the combat of global digital knowledge acquisition to drive trade and commerce and succeed.

E-Commerce has the magic to facilitate the sustainable development of Africa’s youth employment and digital wealth creation. This agenda includes re-imagining national economic development and corporate governance pathways; while fast-tracking government mandatory responsibilities through proactive intervention strategies.

It also includes the conscious responsibility to analyse our environment, communication and digital divide challenges in Africa and prepare for the world of AI, which includes raising a future digital army for national and continental security.

Refocusing our development from figurative oil-based data to digital commerce transformation information system is the panacea for migrating the nation from an economy that generates an internal revenue of $9 billion as against $39billion import to register $trillion trade export numbers as a meticulous enterprise out of Africa.

Moving forward, there should be no further excuses for Africa with its large population and market to continue failing digital exams repetitively; sitting in the same class of knowledge advancement! The new and profound dream must commence now.

Our entrepreneurial-mind treasure is capable and must advance our success agenda from the euphoria of self-celebration to being celebrated by the world.

SOURCE: BRAND SPUR

Enugu Tech. Program Registration.

Do you know there is a 15% increase in the demand for employees with the technological skills, especially programmers, product designers and data analysts in 2021?

To help you stand out in the tech and entrepreneurial market,
@enugusmeagency in partnership with a leading Nigerian EduTech @Utiva has put together a program under the Human Capital Development Loan (HCDL) program called ‘Enugu Tech Program’, to teach Ndi-Enugu youths key technological skills in product design(UI/UX) and programming which will surely make you the most wanted employee in today’s job market.

To get started, register here: enugutech.com

Or come to the office at No.2 Market Garden Avenue by SME Roundabout, opposite Ebaeno Tunnel, for manual your registration.

Don’t miss this opportunity to rewrite your life’s story!!

See you in class soon!

GbuGburuIsSME

Gburusyouth

Enugutech2021

(FAQS) UNDER THE ENUGU TECH® PROGRAM

What is the Enugu Tech Skill Program About?
Enugu Tech® Program (www.enugutech.com) is a public-private partnership project developed and designed to train and provide a path to new jobs to about 50,000 young people in Enugu state. Successful beneficiaries will have the opportunity to learn either Product Design or Programming (UI/UX) with respect to your application and choice of program, the program will help you transition to new job roles and/or upscale in your already job role.
How is the Enugu Tech Skill Program Structured?
The training program under Enugu Tech are done virtually and remotely. The Product Design class is a one (1) month learning program. You would have the opportunity to learn on your own through the “dongle” (REQUIRES NO INTERNET) we would give you and also learn the online live classes that only run on weekends (Saturday and Sunday)
Kindly note that the Enugu SME Center would provide a location for the weekend virtual session with internet. These locations would be notified to participants that finalize the process. It would be based on the “address of the successful applicant” and not “LGA of origin”.
The Programming (Web and App Development) class runs for two (2) months. The classes are on weekends Fridays, Saturdays, Sundays and you would be provided with a “dongle” (REQUIRES NO INTERNET) which helps you to access the contents and self- study. Though it is online classes, it is 100% instructor led and you get all class recordings for recaps
What level of complexity is the training? Is it for beginners
Both training program are modular programs that can take anyone from a novice capacity to a professional capacity. Remember the content WILL ALWAYS be with you for continuous learning
What if I live outside Enugu State
There is no problem, you can still participate in the Program
How much is the Enugu Tech Program
Each program is priced at N20,000 (Twenty Thousand Naira Only). This has been subsidized heavily by the Enugu SME Center from the original price of N250,000 (Two Hundred and Fifty Thousand Naira Only). Each selected applicant (1,500) under the Enugu Tech® Program was out 5,000 plus applicants. This selection enables you to access Human Capital Development Loan (HCDL) to access the training Program. The HCDL is an innovative ZERO INTEREST loan program that is intended SOLELY to provide training to Ndi-Enugu on technical and non-technical capacities.
For the Enugu Tech® Program is in partnership with private sector Edu-Tech leader called “Utiva” (www.utiva.io). Successful applicant can access HCDL Loan from The Enugu SME Agency, to be repaid after four (4) months (after the training)
What is the interest rate of this Loan for the Enugu Tech Skill Training Program?
The Loan for the Training Program is INTEREST FREE/ ZERO INTEREST

7. What are the requirements to access the Human Capital development Loan (HCDL) for Enugu Tech® Program
The successful applicants would be mandated to bring the following:
▪ Nationally Recognized Identification of the Applicant and Three(3) passport photograph
▪ Guarantor from the following areas:
○ Private Sector Individual- Businessman/Businesswoman, entrepreneur, private sector employee
○ Public Servant (Federal Government MDA, State Government from Executive Assistant-Honorable Commissioner)- retired within two (2) years also acceptable
○ Civil Servant from Level 6-Permanent Secretary- retired within two (2) years also acceptable.
▪ Requirements of the Guarantor:
○ Nationally Recognized Identification of the Applicant and two(2) passport photographs
○ Undated Cheque from CBN recognized Commercial Bank or Microfinance Bank- Kindly note that the Microfinance Bank’s cheque MUST be able
“go for clearing” and payable over the counter of other banks. Kindly note that NOT ALL microfinance bank’s cheque can clear over the counter. If you are going to use a Microfinance Bank kindly inquire if it can “go for clearing”
○ The guarantor would be expected to co-sign with the successful Enugu Tech Skill Applicant and is also expected to be physically sighted by the Agency to prevent any case of false claims, forgery of documentation and signature etc.
○ Guarantor can be from anywhere in Nigeria (within or outside Enugu) but
must make himself/herself available for sighting
○ Guarantee cheque cannot be a joint or corporate account

What if I cannot find a Guarantor, can I Guarantee myself?
YES, you can guarantee yourself and still access the Human Capital Development Loan. Just provide all the requirements of the “Guarantor” as detailed above in No.7 above.
If you are guaranteeing yourself, kindly bring a three (3) or six (6) months Bank Account Statement (either current or savings account)
What if I want to guarantee myself but I don’t have a cheque book
Just request for a cheque book from the Bank (current account holder). This takes seven (7) working days FREQUENTLY ASKED QUESTIONS (FAQS) UNDER THE ENUGU TECH® PROGRAM
If you are guaranteeing yourself, kindly bring a three (3) or six (6) months Bank Account Statement (either current or savings account)
What if I want to guarantee myself but only have a savings account
Request for a current account from your Bank. If the Bank request that you require an account reference, kindly come to the Enugu SME Center if you cannot find a referee.
If you are guaranteeing yourself, kindly bring a three (3) or six (6) months Bank Account Statement (either current or savings account)
What if I cannot get a guarantor, neither can I guarantee myself (because I don’t have a chequebook or it is “long” or “tedious” etc) but I can pay for the Enugu Tech® Program upfront?
Kindly notify us by sending an email to enugutech@utiva.io copying info@enugusme.ng with your “(Full Name)- Enugu Tech Applicant Paying Directly as the “Email Title”. The Bank Account details will be communicated to you. You can also come to the Enugu SME Center to retrieve the account details. Once paid, kindly scan the Payment Teller” to enugutech@utiva.io copying info@enugusme.ng with your “(Full Name)- Enugu Tech Applicant Paying Directly as the “Email Title”. You can also come to the Agency to bring a copy of the Payment Teller
Why do we need a cheque (guarantor or self-guarantee) as collateral to access the Human Capital Development Loan (HCDL)
These is the least invasive collateral instrument for a loan acceptable by the Central Bank of Nigeria.
Why isn’t this a grant? Why isn’t this free?
Unfortunately, the Enugu SME Center is the developmental finance institution for Enugu State. It provides concessionary loans Micro, Small and Medium Enterprises (MSMEs) in Enugu State amongst other primary function. Seeing as Human Capital is the most important sector, the Enugu SME Center has created a loan program tailored strictly for Human Capital Development. Remember loan can be intended for anything, just like how they are loans for only women or loans for agricultural sector etc.
The Agency has also ensured that these loans are ZERO INTEREST and has worked extensively with private sector to further subsidize the original training cost of N250,000 (Two Hundred and Fifty Thousand Naira Only) to the current N20,000 (Twenty Thousand Naira )
Where can I find grants
Ministry of Human Development and Poverty Alleviation, Enugu State Scholarship Board etc
Would I be required to attend all training sessions?
Remember that as detailed in “No. 2”, is a combination of remote and virtual learning. You would be required to complete coursework. Failure to do so would lead to you “defaulting on the loan”. If you paid upfront, the funds shall not be refunded. You
need to take this seriously.

16. Can an individual who is currently employed also engage in the Training program?
YES. The Program is flexible enough for everyone

If I am still in school, and COVID-19 restrictions are lifted and school resumes.
What happens?
YES. The Program is flexible enough for everyone.
How will the job placement work?
We will onboard all the learners that successfully completed the learning program on the Utiva Job Bank. On that platform, you will get the opportunity to meet employers that are hiring for full time roles, part time, freelancers (gig economy) and also companies that are building products. The job platform will give success and determined applicants the opportunity to review employment opportunities and projects requirements and choose which works for you. The more projects you complete successfully, the more opportunities the technology platform routes to
you.
What if I decide to not continue the Enugu Tech Skill Program, what will happen?If you have successfully passed the rigorous selection phase and chosen for the first cohort and you drop out of the program, it would have been determined you have DEFAULTED on the Enugu Tech Skill Training and the default terms would kick in as detailed in the Offer Letter, which would include calling on the collateral (the cheque of the guarantor/or applicant). If you paid for the Enugu Tech Skill Program upfront, it shall not be refunded.
Do I need a laptop for this program?
Yes! You do need a laptop to participate in the program as discussed in during the orientation session
Once we have met all the requirements, where and when should we come to complete our documentation, with our guarantor?
Successful applicants will be onboarding into Whatsapp Platforms from Thursday 27th August 2020- Monday 7th September 2020. This is to carry everyone along on the
program dynamics amongst other things regarding orientation.

Documentation signing will commence from Monday 7th September 2020- Monday, 21st September 2020

Nigeria gasps for new LNG investments.

Stakeholders have urged the Federal Government and others to invest more in the Liquefied Natural Gas, LNG, as it becomes obvious that other nations have left the nation behind with its 22 million tonnes, MT, yearly capacity.

Investigation by Energy Vanguard showed that this is based on the awareness that the expansion of the nation’s output to 30MT yearly through the ongoing Train 7 would not make much difference in the global ranking of Nigeria.

Available data showed that Australia, Qatar and Malaysia are currently the world’s top three exporters with 77.5MT, 77.MT and 24MT respectively.

These are followed by Nigeria, Indonesia and Algeria, with 22MT, 16.6MT and 11.5MT respectively. The nations are further followed by Russia, Trinidad & Tobago, Oman and Papua New Guinea with 10.8MT, 10MT, 8.1MT, and 7.1MT respectively.

However, in its presentation at the just-concluded 12th biennial International Conference themed, “Powering Forward: Enabling Nigeria’s Industrialisation via Gas” obtained by Energy Vanguard, the Managing Director, Nigeria LNG Limited, Mr. Tony Attah, MD/CEO, stated: “Nigeria LNG, the biggest LNG plant in Africa produces 22 million tonnes despite our 200 TCF, and that’s partly why we are saying it’s really a time to take advantage of this resource and start to monetize it.”

Energy Transition He said: “As the world is transiting, the risk is incumbent on us that we potentially could get to a point where even the gas, just like oil, will not be as relevant in the future because if technology, which I believe is the biggest disruption takes centre stage to make hydrogen more available and easier to access, then we have a big issue.

“As we say, there is still coal in Enugu, for those who are from the 50s, you can imagine the biggest economy at the time was underpinned by coal. “The locomotives, everything was about coal, power was about coal.

But today no one talks about Enugu with respect to energy. “So energy is in full transition. And we believe it’s time to monetise Nigeria’s gas today. We just touched on a quick case study of Qatar.

“Someone mentioned Qatar already from a proficient country to a gas giant, and it took just 10 years, which is why we as Nigeria LNG firmly believe in the conversation and the narrative about the declaration of the decade of gas. We believe it is possible.” Case of Qatar Speaking further, he said: “If you look at Qatar from 1995. When they really went into gas development, we were just two years behind Qatar.

“So Qatar’s first gas LNG was in 1997. Nigeria’s first LNG was in 1999, just two years behind. But then within 10 years because of the deliberateness of the government and focus on gas, they have gone to 77 million tonnes and we are at best 22 million tonnes. ““We’ve made major in-roads with the support of the Minister of State for Petroleum, the Group Managing Director of NNPC, the Executive Secretary of NCDMB, and our shareholders NNPC, Shell, Total, and Eni, taking the ultimate decision for Train-7.

“But Train 7 is only going to add about eight million tonnes to take us to 30 million tonnes and just recently to establish Qatar’s dominance and deliberateness and focus on gas, they have taken an FID for 30million tonnes. “We celebrated Train-7 on the back of eight million tonnes to take us to 30 million.

“They have taken FID for 30 million tonnes. Essentially, our overall existence as a country is their increment. And for me, that is about how deliberate you can be. Look at how much they have made it count in Qatar.

But for Nigeria LNG, we continue to deliver value to the nation.” In an interview with Energy Vanguard, Victoria Ibezim-Ohaeri, Executive Director, Spaces for Change, said: “As a major gas destination, Nigeria deserves to stake more of its resources in the development of its LNG in order to get much value from natural gas.

“As the world considers shifting from dependence on one form of energy to another, we should consider making massive investment in the sector, apparently because of much benefit the nation is currently getting from LNG.”

Report Nevertheless, in a document obtained from its website, the NLNG, stated: “NLNG has over the years paid dividends of about USD18 billion to the Federal Government of Nigeria courtesy of its shareholding in the company, via Nigerian National Petroleum Corporation, NNPC.

As a good corporate citizen, NLNG also contributes to national wealth and the economic wellbeing of states in which it operates, by paying all applicable taxes and tariffs. The company has paid about USD9 billion in taxes to the Federal Government of Nigeria.

“Payment to the Federal Government of Nigeria via its shareholding in Nigerian National Petroleum Corporation, NNPC, for feedgas from inception till date is about USD15 billion.

With its plant construction, the company generated considerable Foreign Direct Investment, FDI, for the country. NLNG has assets (i.e. property, plant and equipment) worth about USD17.5 billion with 51 per cent stake by international oil companies and 49 per cent belonging to the country through the Nigerian National Petroleum Corporation, NNPC.” The report, added:

“The Company, since 2008, has contributed about four per cent of Nigeria’s annual Gross Domestic Product, GDP. With rebasing of the GDP in 2014, NLNG’s contribution to the GDP is estimated at about one per cent. NLNG provided more than 12,000 jobs at the peak of construction of each plant. Overall, the major sub-contractors employed over 18,000 Nigerians in technical jobs in the Base Project (Trains 1 and 2). Through each Nigerian Content plan for its contracts, NLNG has promoted the development and employment of Nigerian manpower.

Over 12,000 direct jobs will be generated during the construction phase of Train 7.” Time, running out However, time seems to be running out as some emerging oil and gas nations have also ventured into commercial NLG production. Take Mozambique as an example.

In its latest report, African Oil and Gas, stated: “Mozambique at Forefront of Global Gas Development. “Driven by new discoveries and progressive gas-focused policies, Africa’s LNG consumption and production is set to become one of the fastest-growing sub-sectors globally through 2040.”

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Nigeria gasps for new LNG investments.

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