Connect with us

Business

Oyebanji Seeks Belgium’s Partnership in Technology, Agriculture, Intellectual Capacity Devt for Wealth Creation

Ekiti State Governor, Mr Biodun Oyebanji says his administration is building blocks for mutual bilateral relationships between the State and developed countries of the world to turn around the fortunes of its citizens.

Governor Oyebanji made this known during a meeting with the Belgium Ambassador to Nigeria, Mr Pieter Leenknegt at the Belgium Embassy in Abuja, on Wednesday, where potential areas of collaboration were discussed.

Governor Oyebanji who was accompanied by the some state officials, including Commissioner for Budget, Economic Planning and Performance Management, Mr Niyi Adebayo; and Commissioner for Finance, Mr Akin Oyebode, DG office of partnership Biodun Oyeleye, highlighted some critical areas of the State’s 30 – year development plan.

He noted that the state government has a clear vision of opportunities in the areas of ecosystem innovation, technology, renewable energy, environmental management and agricultural production and exportation as well as intellectual capacity development for wealth creation.

“Our vision for Ekiti State is clear. Despite the various challenges, indices and factors being that we are landlocked, we are committed to exploring and leveraging opportunities in ecosystem innovation, technology, renewable energy, and agricultural production. Collaboration with developed nations is crucial for the actualization of our 30-year development plan and ensure sustainable growth and prosperity for our people.”

The Governor highlighted the state’s substantial investments in social programs, commercial agriculture, and various intervention initiatives aimed at boosting the purchasing power of Ekiti’s citizens stressing the necessity of international collaboration to fully realize the state’s ambitious 30-year development plan.

In his response, Ambassador Leenknegt acknowledged Ekiti state’s efforts, which align with global best practices and ECOWAS standards. He advised the Ekiti government to expedite the completion of the state’s airport to improve access and connectivity.

He commended the initiatives behind the Ekiti Knowledge zone noting its potential to transform local knowledge into wealth, expressing Belgium’s interest in partnering with Ekiti State in areas such as communication technology, transportation, and tropical agriculture, including cacao and palm kernel production as well as enhancing academic partnerships between Belgian institutions and universities in Ekiti State.

“We recognize and appreciate the significant strides being made by the Ekiti State government. The Ekiti Knowledge Zone is a remarkable initiative with the potential to turn local knowledge into wealth. Belgium is keen to explore collaboration in areas such as communication technology, transportation, and tropical agriculture, including cacao and palm kernel production.” Said the Ambassador

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

CBN sells $20,000 FX at N1450/$ to BDCs

The Central Bank of Nigeria said it sold foreign currency worth $20,000 to each eligible Bureau de Change operator at N1,450 per dollar.

A.A. Mahdi, the apex bank’s acting Director of Trade and Exchange Department, disclosed this in a notice on Thursday.

According to the notice: “To this end, the CBN has approved the sales of FX to eligible Bureau De Change (BDCs) to meet the demand for invisible transactions. The sum of S$20,000 is to be sold to each BDC at the rate of N1,450/$ (representing the lower band of the trading rate at NAFEM in the previous trading day).

“All BDCs are allowed to sell to eligible end-users at a margin not more than one point five per cent (1.5 %) above the purchase rate from CBN.”

The development led to the naira appreciating significantly on Thursday to N1,565 per dollar at the black market from N1,615.

Similarly, the naira also appreciated to N1,566.92 at the official FX market, according to FMDQ data on Thursday.

Continue Reading

Business

Inflation increases to 34.19 percent – NBS

The headline inflation rate increased to 34.19% in the month of June, according to a report by the National Bureau of Statistics (NBS).

The report said food inflation also increased to 40.87 percent on a year-on-year basis, which was 15.62% points higher compared to the rate recorded in June 2023 (25.25%).

It stated that the rise in food inflation was caused by increases in prices of Millet Whole grain, Garri, Guinea corn, etc (Bread and Cereals Class), Yam, Water Yam, Coco Yam (Potatoes, Yam & Other Tubers Class), Groundnut Oil, Palm Oil, etc (Oil & Fats Class) and Catfish Dried, Dried Fish-Sadine, Mudfish (Fish Class), etc.

“On a year-on-year basis, the headline inflation rate was 11.40% points higher compared to the rate recorded in June 2023, which was 22.79%. This shows that the headline inflation rate (year-on-year basis) increased in the month of June 2024 when compared to the same month in the preceding year (i.e. June 2023).”

Advertisement

“Furthermore, on a month-on-month basis, the headline inflation rate in June 2024 was 2.31%, which was 0.17% higher than the rate recorded in May 2024 (2.14%).”

“The rise in Food inflation on a Month-on-Month basis was caused by the rise in the rate of increase in the average prices of Groundnut Oil, Palm Oil, etc (Oil & Fats Class), Water Yam, Coco Yam, Cassava, etc (Potatoes, Yam & Other Tubers Class), Tobacco, Catfish Fresh, Croaker, Mud-
fish Fresh, Snail, etc, (Fish Class).

Advertisement

It stated that all Items inflation rate on a Year-on-Year basis was highest in Bauchi (43.95%), Kogi (39.91%), and Oyo (39.15%), while Borno (25.90%), Benue (27.52%) and Katsina (29.21%) recorded the slowest rise in Headline inflation on Year-on-Year basis.

“On a Month-on-Month basis, however, June 2024 recorded the highest increases in Yobe (3.79%), Abuja (3.45%), Ondo (3.38%), while Nasarawa (0.71%), Osun (1.19%) and Kano (1.27%) recorded the slowest rise on Month-on-Month inflation.”

Continue Reading

Business

UAE resumes visa issuance to Nigerians

Immigration kicks as Nigerian passport ranks below Niger, Chad, others

The Federal Government and the government of the United Arab Emirates, UAE, have signed an agreement for the resumption of visa issuance to travellers with Nigerian passports wishing to travel to the Middle Eastern country.

Minister of Information and National Orientation, Mohammed Idris, who disclosed this while briefing State House correspondents at the Presidential Villa, Abuja, on Monday, said the agreement took immediate effect.

He said, “You are aware that Nigeria has been discussing with the United Arab Emirates on the issue of visas for Nigerian passport holders going to the United Arab Emirates.

“Today, an agreement has been reached on that, and effective from today 15th July, Nigerian passport holders are able to obtain visa to go to the United Arab Emirates.

“Details of that will be provided to you latter today when we put out a statement.

“But I can tell you that the agreement has been reached, and effective from today, Nigerian passport holders intending to travel to the UAE are able to do so.”

Continue Reading
Advertisement

Trending